Increasing Opportunities in Toxicology Drug Testing Market Latest Trends, Technological Advancement, Driving Factors and Forecast to 2031

The Global Toxicology Drug Testing Market has witnessed significant growth, with a valuation of US$ 34.7 billion in 2022. It is projected to expand at a Compound Annual Growth Rate (CAGR) of 5.5% from 2023 to 2031, ultimately reaching a staggering US$ 55.9 billion by 2031. These insights are highlighted in a comprehensive report that analyzes the market's current state and future outlook.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗳𝗼𝗿 𝗮 𝘀𝗮𝗺𝗽𝗹𝗲 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗿𝗲𝗽𝗼𝗿𝘁 𝗮𝘁 (𝗨𝘀𝗲 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗠𝗮𝗶𝗹 𝗜𝗱 𝗳𝗼𝗿 𝗤𝘂𝗶𝗰𝗸 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲) -
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Key Growth Drivers:
Increasing R&D Activities: The biopharmaceutical industry's substantial investment in research and development, outpacing various other industries, is driving the market's growth. In 2021 alone, the industry spent a staggering US$ 196 billion, a number expected to rise to US$ 213 billion by 2024.

Technological Advancements: Recent technological innovations, such as CN Bio's "in-a-box" reagent kit for non-alcoholic steatohepatitis (NASH), are revolutionizing toxicology drug testing. These advancements provide valuable insights into disease mechanisms, human therapeutic efficacy, and safety toxicity.

Increased Demand in Pharmaceuticals: Toxicology testing is indispensable in pharmaceuticals and biotechnology companies, where it plays a crucial role in examining the pharmacokinetic properties of pharmaceuticals, genotoxicity, safety pharmacology, and more.

Post-COVID Landscape: The pandemic emphasized the need for comprehensive drug testing, especially in the context of mental health and substance use issues. Innovations in remote and rapid testing, facilitated by telemedicine and digital platforms, have adapted to the evolving healthcare landscape.

𝗕𝘂𝘆 𝘁𝗵𝗶𝘀 𝗣𝗿𝗲𝗺𝗶𝘂𝗺 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 | 𝗜𝗺𝗺𝗲𝗱𝗶𝗮𝘁𝗲 𝗗𝗲𝗹𝗶𝘃𝗲𝗿𝘆 𝗔𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗮𝘁 -
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Competitive Landscape:
Key players in the toxicology drug testing market include TDAL Labs, Thermo Fisher Scientific Inc., Abbott, Clinisys, Inc., Laboratory Corporation of America Holdings, SLUCARE, Icahn School of Medicine at Mount Sinai, Keystone Lab, Shimadzu Scientific Instruments, and Ganesh Diagnostic & Imaging Centre Pvt. Ltd.

Key Developments:
In 2022, Thermo Fisher Scientific launched its In-vitro Genotoxicity Screening Assay, aiding in early screening of drug candidates.
In 2021, Catalent introduced its HepatoSite in-vitro model, enhancing Drug-Induced Liver Injury (DILI) prediction.

𝗠𝗼𝗿𝗲 𝗧𝗿𝗲𝗻𝗱𝗶𝗻𝗴 𝗥𝗲𝗽𝗼𝗿𝘁𝘀 𝗯𝘆 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 -

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𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲? 𝐀𝐬𝐤 𝐎𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭𝐬:
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