In-vitro Toxicology Testing Market Size, Share & Trends Analysis Report By Technology, By Method, By Application, By End-user, By Region And Segment Forecasts, 2023 - 2030
In-vitro Toxicology Testing Market Size, Share & Trends Analysis Report By Technology (Cell Culture, High Throughput), By Method, By Application, By End-user, By Region, And Segment Forecasts, 2023 - 2030.
New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "In-vitro Toxicology Testing Market Size, Share & Trends Analysis Report By Technology, By Method, By Application, By End-user, By Region And Segment Forecasts, 2023 - 2030" - https://www.reportlinker.com/p06423463/?utm_source=GNW
In-vitro Toxicology Testing Market Growth & Trends
The global in-vitro toxicology testing market size is projected to reach USD 64.7 billion by 2030, at a CAGR of 11.10% over the forecast period. Over the years, acceptance of in-vitro toxicology testing methods by regulatory authorities is increasing at a faster pace & thus validation of these tests methods opposed to conventional testing is even rising. Also, development of technologies to substitute animal use for toxicology tests has fueled the usage of in-vitro models such as in-silico simulation, assays, 3D cell cultures and many more, thereby boosting market growth.
Screening of a new drug candidate involves the use of animals for preclinical studies which is very tedious and expensive.However, in recent times, several jurisdictions are promoting ban for animal-based chemical testing.
For example, for several years, the EU has been promoting the reduction, replacement, and refinement of animal tests.The Regulation on cosmetic products (1223/2009), REACH (2007/2006), the Directive on the protection of animals used for scientific purposes (2010/63), and Classification, Labelling and Packaging (CLP) (1272/2008) are some examples of EU legislation that are engaged in strongly encouraging the replacement of animal toxicology testing.
Furthermore, in June 2018, the Cruelty-Free Cosmetics Act was passed in California to ban the selling of animal-tested products after 2020.
Many governments and private organization are taking actions to minimize conventional testing models, providing funds to support & develop in-vitro toxicology assays and form conducive government policies.Thus, increase in government initiatives that are focused on banning animal testing can be attributed to the rise in adoption of in-vitro toxicological models and creates many opportunities within the market.
For instance, approximately USD 3.2 million were contributed by People for the Ethical Treatment of Animals (PETA) and its international associates to promote the development of non-animal test methods.
The advancements in computational and screening methods such as biological, high throughput, and chemical coupled with the vast number of public databases for toxicity analysis has expanded largely.This has allowed researchers to access information for drug discovery studies, toxicology profiling, and drug development programs.
For instance, the MetaTox HS project by Agilent Technologies, Inc. brings advanced solutions for toxicity assays & high sensitivity metabolism during drug development procedures.
In-vitro Toxicology Testing Market Report Highlights
• Based on technology, the cell culture segment held the largest revenue share in 2022, owing to the increased demand for accurate & cost-effective analysis. Moreover, the adoption of 3D cell culture is also propelling the growth of this segment
• On basis of application, the system toxicology segment dominated the market for in-vitro toxicology testing in 2022. Generation of toxicology data points such as minimum dose, tolerated dose, risk assessment and many more will contribute to the revenue generation
• The cellular assays segment accounted for the highest revenue share in 2022, owing to the developments in cell-based imaging assays, high throughput screening & label-free detection
• The pharmaceutical industry as an end-user contributed the largest revenue to the market in 2022. The importance of toxicology testing during drug development stages coupled with high number of product pipeline attributes to the revenue generation
• North America accounted for the highest revenue share in 2022 due to prevalence of animal testing bans & supportive government initiatives for toxicology research. In addition, aggregation of players in this regions to provide in-vitro testing product and services will continue the revenue generation during the forecast
Read the full report: https://www.reportlinker.com/p06423463/?utm_source=GNW
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