LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global in-vitro toxicity testing market since 2014 and the market is poised to grow by USD 2.39 billion during 2019-2023, progressing at a CAGR of almost 7% during the forecast period. Request Free Sample Pages
Read the 148-page research report with TOC on "In-Vitro Toxicity Testing Market Analysis Report by End-User (Pharmaceutical and biotechnology companies; Academic and research institutions; and Others), by Geography (North America, Europe, Asia, and ROW), and Segment Forecasts, 2019 – 2023."
https://www.technavio.com/report/global-in-vitro-toxicity-testing-market-industry-analysis
The market is driven by the increasing use of in-vitro toxicity testing by companies to reduce drug failures. In addition, advances in toxicology are anticipated to further boost the growth of the in-vitro toxicity testing market.
The increasing use of in-vitro toxicity testing to reduce drug failures will be one of the major drivers in the global market. The most common reason for the rejection of drugs in the last phase of development is toxicity. Thus, it is essential to adopt in-vitro toxicity testing as it reveals the species, organ, and dose-specific toxic effects of drugs. It also helps avoid adverse effects in patients who consume drugs for stomach pains, weakness, hand tremors, ataxia, diarrhea, dizziness and in rare cases, heart problems. Thus, the use of in-vitro toxicity testing to reduce drug failures will drive market growth during the forecast period.
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Major Five In-Vitro Toxicity Testing Market Companies:
Abbott Laboratories
Abbott Laboratories operates the business under various segments such as established pharmaceuticals, nutritionals, diagnostics, cardiovascular and neuromodulation, and others. The product offered by the company is Alere Triage Drugs of Abuse Plus TCA Panel. This product is offered as an immunoassay used for the qualitative determination of the presence of the major metabolites of drugs of abuse.
Agilent Technologies Inc.
Agilent Technologies Inc. operates the business under three segments, which include life sciences and applied markets; diagnostics and genomics; and Agilent CrossLab. The company’s key offering includes MitoXpress Xtra Oxygen Consumption Assay.
Bio-Rad Laboratories Inc.
Bio-Rad Laboratories Inc. has business operations under the life science and clinical diagnostics segment. The product offered by the company is Bio-Plex Pro RBM Human Kidney Toxicity Assay.
CELTHER POLSKA Sp z o.o.
CELTHER POLSKA Sp z o.o. operates the business under its unified business segment. The company offers services such as hepatotoxicity testing, neurotoxicity testing, and cardiotoxicity testing.
Charles River Laboratories International Inc.
Charles River Laboratories International Inc. operates the business under the following segments: research models and services; discovery and safety assessment; and manufacturing support. The company’s key offering in the in-vitro toxicity testing market include genetic toxicity testing.
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In-Vitro Toxicity Testing End-User Outlook (Revenue, USD Million, 2019 - 2023)
- Pharmaceutical and biotechnology companies
- Academic and research institutions
- Others
In-Vitro Toxicity Testing Regional Outlook (Revenue, USD Million, 2019 - 2023)
- Asia
- Europe
- ROW
- North America
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