Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global In Vitro Toxicity Testing Market size is expected to reach $37.5 billion by 2028, rising at a market growth of 10.8% CAGR during the forecast period.
The Toxic Substances segment is showcasing a CAGR of 11.1% during (2022 - 2028). In vitro testing processes are generally used in the early stages of the creation of potentially helpful novel compounds such as therapeutic medicines, agricultural chemicals, and food additives to discover potentially toxic substances or confirm the lack of particular toxic qualities
The Cell Culture Technologies segment acquired maximum revenue share in the Global In Vitro Toxicity Testing Market by Technology in 2021, thereby, achieving a market value of $22.1 billion by 2028. In-vitro toxicology is the study of the hazardous characteristics of various chemicals and mixtures utilizing cells or tissues produced or preserved in a specified environment. This also allows researchers to look at xenobiotic toxicity at the cellular level without having to deal with the interaction of complicated physiological adverse effects, which are commonly seen in whole organisms. Primary cell cultures derived from certain tissues, including the kidney or gills for ionic homeostasis, the liver for xenobiotic biotransformation, and nerve cells for neurotransmitter transmission effects, could be used to investigate specific cellular activities.
The Pharmaceuticals Industry segment has shown growth rate of 11.1% during (2022 - 2028). The widespread use of toxicity tests in the pharmacokinetic study of new and generically changed pharmaceutical drugs has increased the income of these toxicology testing assays. Furthermore, with multiple drug candidates in the pipeline, the need for in-vitro toxicology testing is projected to increase. These techniques are primarily employed in three areas of drug development to cope with changing regulatory guidelines: ADME, genotoxicity testing of drug candidates, and safety pharmacology. Furthermore, the emergence of biologics and biosimilars has led to greater penetration of in-vitro toxicity tests.
The North America market dominated the Global In Vitro Toxicity Testing Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $13.9 billion by 2028. The Europe market is estimated to witness a CAGR of 10.4% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 11.6% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Thermo Fisher Scientific, Inc., General Electric (GE) Co., AstraZeneca PLC, Catalent, Inc., Laboratory Corporation of America Holdings, Acacia Pharma Group Plc, GlaxoSmithKline PLC, Helsinn Healthcare SA., and Heron Therapeutics, Inc.
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