In-Vitro Toxicology Testing Market Growth Analysis with Investment Opportunities For 2024-2033

The Business Research Company's In-Vitro Toxicology Testing Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UNITED KINGDOM, October 7, 2024 /EINPresswire.com/ -- The in-vitro toxicology testing market has experienced robust growth in recent years, expanding from $10.31 billion in 2023 to $11.46 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to regulatory requirements, ethical concerns and animal welfare, cost and time efficiency, globalization of the pharmaceutical industry, drug discovery and development demands, public awareness of environmental toxins.

What Is The Estimated Market Size Of The Global In-Vitro Toxicology Testing Market And Its Annual Growth Rate?
The in-vitro toxicology testing market is projected to continue its strong growth, reaching $17.13 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to focus on personalized medicine, demand for predictive toxicology models, expansion of environmental testing, oncology drug development challenges, focus on endocrine disruptor screening, shift towards multi-organ chips.

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Growth Driver Of The In-Vitro Toxicology Testing Market
Growing healthcare expenditure is expected to propel the in-vitro toxicology testing market going forward. Health expenditure is the amount of money spent by citizens and the government out of total income on hospitals, home health services, prescription pharmaceuticals, nursing facilities, and personal healthcare. Health expenditure is increasing in the world due to the rising prevalence of disease which utilizes in-vitro toxicology testing.

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Which Market Players Are Steering The In-Vitro Toxicology Testing Market Growth?
Key players in the market include Thermo Fisher Scientific Inc., Merck KGaA, Laboratory Corporation of America Holdings (LabCorp), Gentronix Limited (a subsidiary of Eurofins Scientific SE), Bio-Rad Laboratories Inc., Eurofins Scientific SE, Charles River Laboratories International Inc., Promega Corporation, Agilent Technologies Inc., Abbott Laboratories, Evotec SE, SGS SA, BioIVT LLC, MB Research Laboratories LLC, Creative Biolabs Inc., Quest Diagnostics Incorporated, Creative Bioarray Inc., InSphero AG, PerkinElmer Inc., Cyprotex PLC, MatTek Corporation, Danaher Corporation, Ncardia AG, Sekisui Chemical Co. Ltd., BioReliance Corporation, CellSystems Biotechnologie Vertrieb GmbH, Taconic Biosciences Inc., Biopredic International, MultiCell Technologies Inc., Altasciences Clinical Research Holdings Inc., Molecular Toxicology Inc., Toxys BV, XenoTech LLC, Optivia Biotechnology Inc., Toxikon Corporation.

What Are The Key Trends That Influence In-Vitro Toxicology Testing Market Size?
Major companies operating in the in-vitro toxicology testing market are adopting a strategic partnership approach to provide 3D in vitro services to individuals, businesses, and governments. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.

How Is The Global In-Vitro Toxicology Testing Market Segmented?
1) By Product and Service: Consumables, Assays, Equipment, Software, Services
2) By Method: Cellular Assays, Biochemical Assays, In Silico Models, Ex Vivo Models
3) By Technology: Cell Culture Technologies, High-throughput Technologies, Toxicogenomics
4) By Applications: Neurotoxicity, Dermal toxicity, Cytotoxicity, Other Applications
5) By Industry: Pharmaceuticals and Biopharmaceuticals, Cosmetic and Household Products, Food, Chemicals

Geographical Insights: North America Leading The In-Vitro Toxicology Testing Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

In-Vitro Toxicology Testing Market Definition
In-vitro toxicology testing refers to assays and tests used to determine toxic doses of drugs, nutraceuticals, and food additives that cause toxicity when administered. It is used to detect the presence of toxic chemicals, and residual solvents and reduce hazardous exposure. This testing is mostly used to determine the doses of medications that exhibit toxicity in preclinical development, along with drug discovery and development.

In-Vitro Toxicology Testing Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global in-vitro toxicology testing market report covering trends, opportunities, strategies, and more
The In-Vitro Toxicology Testing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on in-vitro toxicology testing market size, in-vitro toxicology testing market drivers and trends and in-vitro toxicology testing market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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