Press release
In Vitro Toxicity Testing Market Surge to Reach $58.9 Billion by 2030 | CAGR of 16.7%
The impact of these drivers is expected to increase significantly due to increase in awareness about the benefits of IVTT. Some of the restraints associated with the IVTT market are decrease adoption rate of IVTT and incapability of IVTT to detect toxicities due to autoimmunity & immunostimulation. With the advancement in the technology, the challenges of IVTT are expected to reduce in the coming years. A rise in need for testing in various industries such as pharmaceuticals, food, and others, which drives the growth of the in vitro toxicology testing market.
๐๐ข๐ฌ๐ญ ๐จ๐ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
Helsinn Holding S.A., Laboratory Corporation of America Holdings, AstraZeneca plc, Thermo Fisher Scientific, Inc., ACACIA PHARMA GROUP PLC, Catalent Inc, General Electric Company, TESARO INC., Heron Therapeutics Inc
๐ ๐จ๐ซ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ https://www.alliedmarketresearch.com/purchase-enquiry/1523
On the basis of end users, the market is categorized into pharmaceuticals, cosmetics & household products, chemicals industry, and food industry. The cosmetics and households products segment is dominant among end users, followed by the pharmaceutical industry.
On the basis of technology, the in vitro toxicity testing market is segmented into cell culture technologies, high throughput technologies, and toxicogenomics. The cell culture technologies have the highest in vitro toxicity testing market share in 2020.
On the basis of region, the in vitro toxicity testing market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is the highest revenue growth, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 16.7% during the forecast period. The LAMEA segment is expected to dominate the in vitro toxicity testing market.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ https://www.alliedmarketresearch.com/request-sample/1523
Several manufacturers in the global in vitro toxicity testing market stopped their business activities in 2020 due to lockdowns implemented in developed and developing countries, owing to ban on industrial activities due to the COVID-19 pandemic. This halt in production activities impacted the revenue of the in vitro toxicity testing manufacturing companies. For instance, net sales of General Electric Company dropped by 2.2% from January 2021 to December 2021. In addition, lack of man power and raw materials affected the supply chain of the global in vitro toxicity testing market. However, the market is projected to cover from the 1st quarter of 2023, due to reduced restrictions and reopening of the global in vitro toxicity testing industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the in vitro toxicology industry re-opened at full pace with a start of 2022.
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In Vitro Toxicity Testing Market Expected to Reach $58.9 Billion by 2030
In vitro toxicity testing market size is expected to witness notable growth in the coming years due to the advantages offered by IVTT, such as enhanced accuracy, efficiency, and reliability as compared to other traditional methods. Furthermore, increase in applications of IVTT in food and chemical industries, are the in vitro toxicity testing market trends. Moreover, stringent government regulations aimed at reducing the cruelty while performing experiment on animals, increaseโฆ
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