In-vitro Toxicology Testing Market (2022-2030) Growth Rate Pricing And Industry ForecastPosted by rahul nikade on December 4th, 2022 In-vitro Toxicology Testing Industry Overview The global in-vitro toxicology testing market size was estimated at USD 22.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.7% from 2021 to 2028. Significant advancements in toxicology science are one of the primary factors driving the market. Also, high costs associated with conventional animal tests and socio-ethical concerns associated with animal tests are anticipated to boost the growth of the market for in-vitro toxicology testing. As in-vitro toxicology studies can help in minimizing liabilities related to late-stage failure in the drug discovery process, a high number of research studies and drug development programs for COVID-19 are expected to accelerate the market for in-vitro toxicology testing. More than 590 drugs for COVID-19 are in the development program as of November 2020. Such a high number of drug development programs is anticipated to boost the demand for in vitro toxicology testing services. Gather more insights about the market drivers, restrains and growth of the Global In-vitro Toxicology Testing Market Significant advancements in in-vitro toxicology assays to evaluate drug product safety along with the assessment of the potential effect of pharmaceuticals on cells and tissues are anticipated to bolster revenue generation in the market. With an increase in the need for such assays, companies have broadened their portfolio to serve demand in the market for in-vitro toxicology testing. Availability of different methods in biotechnology and bioinformatics division to carry out in-silico simulation on animal models is also attributive for influencing industry growth through to 2028. Moreover, the development of toxicology databases for in-silico analysis of different compounds is anticipated to fuel demand for in-vitro techniques thereby leading to sector progress. Considerable government funding for research coupled with definite reimbursement policies to develop automated and technologically advanced equipment for laboratory analysis and ex-vivo studies is expected to enhance market stability. On the contrary, unavailability of immunity testing and immune stimulation in current in-vitro tests is expected to hamper the growth of this industry. Browse through Grand View Research's Biotechnology Industry Research Reports.
In-vitro Toxicology Testing Market Segmentation Grand View Research has segmented the global in-vitro toxicology testing market on the basis of end-use, technology, method, application, and region:
Market Share Insights
Key Companies profiled: Some prominent players in the global in-vitro toxicology testing market include
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