In-Vitro Toxicology Testing Market 2024-2033: Competitor Assessment, New Trends, Share Analysis And Global Key Players

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

In-Vitro Toxicology Testing Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $56.54 billion In 2028 At A CAGR Of 15.7% :

The in-vitro toxicology testing market size has grown rapidly in recent years. It will grow from $10.31 billion in 2023 to $11.46 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to regulatory requirements, ethical concerns and animal welfare, cost and time efficiency, globalization of the pharmaceutical industry, drug discovery and development demands, public awareness of environmental toxins.

The in-vitro toxicology testing market size is expected to see rapid growth in the next few years. It will grow to $17.13 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to focus on personalized medicine, demand for predictive toxicology models, expansion of environmental testing, oncology drug development challenges, focus on endocrine disruptor screening, shift towards multi-organ chips. Major trends in the forecast period include advancements in 3d cell culture technologies, integration of high-throughput screening, focus on organ-on-a-chip technologies, application in chemical safety assessment, use of human-derived cell lines, incorporation of omics technologies, educational initiatives and training programs.

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In-Vitro Toxicology Testing Market Major Segments
The in-vitro toxicology testing market covered in this report is segmented -

1) By Product and Service: Consumables, Assays, Equipment, Software, Services
2) By Method: Cellular Assays, Biochemical Assays, In Silico Models, Ex Vivo Models
3) By Technology: Cell Culture Technologies, High-throughput Technologies, Toxicogenomics
4) By Applications: Neurotoxicity, Dermal toxicity, Cytotoxicity, Other Applications
5) By Industry: Pharmaceuticals and Biopharmaceuticals, Cosmetic and Household Products, Food, Chemicals

Key Driver - Growing Healthcare Expenditure Fuels In-Vitro Toxicology Testing Market Growth

Growing healthcare expenditure is expected to propel the in-vitro toxicology testing market going forward. Health expenditure is the amount of money spent by citizens and the government out of total income on hospitals, home health services, prescription pharmaceuticals, nursing facilities, and personal healthcare. Health expenditure is increasing in the world due to the rising prevalence of disease which utilizes in-vitro toxicology testing. For instance, in March 2022, according to the 2021-2030 National Health Expenditure (NHE) report published by the Centers for Medicare & Medicaid Services, a US-based federal agency, it was estimated that between 2021 and 2030, national health spending is going to rise by an average of 5.1% every year, reaching almost $6.8 trillion. Additionally, it is anticipated that from 2021 to 2030, Medicare spending is going to rise at a 7.2% annual pace while Medicaid spending will rise at a 5.6% annual rate. Therefore, the growing healthcare expenditure is driving the in-vitro toxicology testing market.

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Prominent Trend - Technological Advancement Drives Growth In The In-Vitro Toxicology Testing Market

The development of innovative cell culture systems is a key trend gaining popularity in the in-vitro toxicology market. Major companies operating in the in-vitro toxicology testing market are focused on developing new technological solutions to strengthen their position. For instance, in August 2021, Amerigo Scientific, a US-based company operating in in-vitro toxicology testing launched 3D cell culture for scientific uses. This innovative vitro 3D cell culture technology offers a solution for precision medicine approaches that could host human and animal cells, making it a concrete solution for replacing and reducing small animal studies with both ethical and economic impacts in drug development.

In-Vitro Toxicology Testing Market Players
Major companies operating in the in-vitro toxicology testing market report are Thermo Fisher Scientific Inc., Merck KGaA, Laboratory Corporation of America Holdings (LabCorp), Gentronix Limited (a subsidiary of Eurofins Scientific SE), Bio-Rad Laboratories Inc., Eurofins Scientific SE, Charles River Laboratories International Inc., Promega Corporation, Agilent Technologies Inc., Abbott Laboratories, Evotec SE, SGS SA, BioIVT LLC, MB Research Laboratories LLC, Creative Biolabs Inc., Quest Diagnostics Incorporated, Creative Bioarray Inc., InSphero AG, PerkinElmer Inc., Cyprotex PLC, MatTek Corporation, Danaher Corporation, Ncardia AG, Sekisui Chemical Co. Ltd., BioReliance Corporation, CellSystems Biotechnologie Vertrieb GmbH, Taconic Biosciences Inc., Biopredic International, MultiCell Technologies Inc., Altasciences Clinical Research Holdings Inc., Molecular Toxicology Inc., Toxys BV, XenoTech LLC, Optivia Biotechnology Inc., Toxikon Corporation

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Largest And Fastest Growing Region In The Market
North America was the largest region in the in- vitro toxicology testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the in- vitro toxicology testing market report during the forecast period. The regions covered in the in-vitro toxicology testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. In-Vitro Toxicology Testing Market Report Structure
3. In-Vitro Toxicology Testing Market Trends And Strategies
4. In-Vitro Toxicology Testing Market - Macro Economic Scenario
5. In-Vitro Toxicology Testing Market Size And Growth
…..
27. In-Vitro Toxicology Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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