In Vitro Toxicity Testing Market New Opportunities, Top Trends, Rising Demand, Emerging Growth, Business Development

The global in vitro toxicity testing market size was valued at $18,565.2 million in 2020 and is projected to reach $59,147.6 million by 2030, growing at a CAGR of 12.0% from 2020 to 2030. In vitro is the process that helps examine harmful chemicals over the isolated part of the organism. It is used to identify hazardous chemical substances and helps detect toxicity at early stages of the development of new products, such as drugs, cosmetics, and food additives. The in vitro toxicity testing (IVTT) is mainly used for safety evaluation in drug development and also for ranking the chemicals according to their potency. The absorption, distribution, metabolism, excretion (ADME), dose response, and threshold response of the drug can also be determined by in vitro toxicity testing. A rise in need for in vitro toxicity testing in various industry verticals such as pharmaceuticals, chemicals, and food industry, which fuels the growth of the in vitro toxicology testing market. In addition, rise in awareness of testing of various cosmetics, foods, and other products, which fuels the growth of the in vitro toxicology testing market.  

List of Key Players

• General Electric Company
• Thermo Fisher Scientific, Inc.
• Laboratory Corporation of America Holdings
• ACACIA PHARMA GROUP PLC
• TESARO INC.
• Helsinn Holding S.A.
• Heron Therapeutics Inc
• AstraZeneca plc
• Catalent Inc

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/1523

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, increase illicit drug abuse, and enhanced efficiency of IVTT in diagnosis are the major driving factors for the growth of the market. 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.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging global in vitro toxicity testing market trends and dynamics. 
• By type, the absorption segment dominated the market in terms of revenue in 2020.
• On the basis of technology, the cell culture technologies segment generated the highest revenue in 2020.
• By end-user, the cosmetics and households products segment dominated the market in terms of revenue in 2020.
• The report provides an extensive analysis of the trends and emerging opportunities of the market. 
• In depth, the global in vitro toxicity testing market analysis is conducted by constructing estimations for the key segments between 2020 and 2030.

For Purchase inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/1523

The in vitro toxicology testing market is segmented into type, technology, end users, and region. By type, the market is categorized into absorption, toxic substances, and dose. Currently, the absorption segment dominates the global in vitro toxicity testing market growth.

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.

Tags: In Vitro Toxicity Testing