Factors such as, technological advancements, and increasing R&D expenditure to detect toxicity at an early stage during drug development are the factors to drive the market. The ADME segment is expected to account for the largest market share in 2021.
New York, June 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "In Vitro Toxicology Testing Market by Product, Toxicity Endpoints, Technology, Method, Industry - Global Forecast to 2027" - https://www.reportlinker.com/p05129363/?utm_source=GNW
Based on toxicity endpoints and tests undertaken across all industries, the in vitro toxicity testing market is segmented into genotoxicity; cytotoxicity; ADME; skin irritation, corrosion, & sensitization; ocular toxicity; organ toxicity; phototoxicity; dermal toxicity; and other endpoints & tests. In 2021, the ADME segment accounted for the largest share of the in vitro toxicity testing market.
During the forecast period, the software segment is expected to grow at the highest rate.
On the basis of product and service, the in vitro toxicology testing market is segmented into consumables, assays, equipment, software, and services. Due to the increasing use of softwares in industry, the software segment is projected to witness the highest growth in the in vitro toxicology testing market during the forecast period.
During the forecast period, toxicogenomics is expected to grow at the highest rate.
During the forecast period, the toxicogenomics segment is expected to grow at the highest CAGR, due to the technological advancements taking place in the field of genomics and proteomics.
In 2021, Europe is expected to hold the largest share for players operating in the in vitro toxicology testing market.
In 2021, Europe accounted for the largest share of the in vitro toxicology testing market. Factors such as high adoption of in vitro toxicology testing assays and services in the chemical and cosmetics industries in the region are among the primary reasons expected to contribute to the growth of this market.
A breakdown of the primary participants referred to for this report is provided below:
• By Company Type: Tier 1 (35%), Tier 2 (45%), and Tier 3 (20%)
• By Designation: C-level (35%), Director-level (25%), and Others (40%)
• By Region: North America (45%), Europe (30%), Asia Pacific (20%), Latin America (3%), and the Middle East & Africa (2%)
Key players in the In Vito Toxiocology Testing Market
The prominent players in the in vitro toxicology testing market include Thermo Fisher Scientific Inc. (US), Laboratory Corporation of America Holdings (US), Bio-Rad Laboratories, Inc. (US), General Electric Company (US), Eurofins Scientific (Luxembourg), Merck KGaA (Germany), Charles River Laboratories International, Inc. (US), Catalent, Inc. (US), Evotec (UK), SGS S.A. (Switzerland), QIAGEN (Germany), Promega Corporation (US), Gentronix Limited (UK), BioIVT (US), MB Research Laboratories (US) ,Creative Biolabs(US), GVK Biosciences Private Limited (India), Shanghai Medicon Inc (China), Creative Biorray (US) and Insphero (Switzerland).
The report aims at estimating the market size and future growth potential of the global in vitro toxicology testing market and its product & service, technology, toxicity endpoint & test, industry, method, and regional segments. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global in vitro toxicology testing market
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the global in vitro toxicology testing market
• Market Development: Comprehensive information on the lucrative emerging regions
• Market Diversification: Exhaustive information about the new product, growing geographies, and recent developments in the global in vitro toxicology testing market
• Competitive Assessment: In-depth assessment of market ranking, growth strategies, revenue analysis, and services of leading players in the global in vitro toxicology testing market
Read the full report: https://www.reportlinker.com/p05129363/?utm_source=GNW
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