Increase in R&D activities in healthcare, surge in stringency of regulatory authorities concerning public healthcare welfare, and rise in adoption of in vitro model and early toxicity testing have boosted the growth of the early toxicity testing market. However, the limitations of preclinical testing hamper the market growth. On the contrary, technological advancements in the field of early toxicity testing are expected to create lucrative opportunities in the near future.
According to the report published by Allied Market Research, the early toxicity testing market accounted for $739 million in 2017, and is expected to reach $1,301 million by 2025, registering a CAGR of 7.3% from 2018 to 2025. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “The growth in early toxicity testing market is due to rise in R&D activities and surge in adoption of toxicity testing across various industrial areas. Furthermore, stringent government guidelines are expected to boost the growth of the market.”
On the basis of technique, the in vitro segment is a major revenue contributor in 2017 and is expected to maintain its dominant position throughout the analysis period due to rise in adoption of this technique across different diagnostic areas. Governments of different countries such as the U.S., the UK, Germany, and others are extensively active toward protection of animals. These countries have banned testing of cosmetic and household products on animals. Therefore, in vitro testing serves as a feasible alternative to in vivo testing, which also fuels the growth of the in vitro market. The in silico segment is expected to be the fastest growing segment during the forecast period, owing to rise in its adoption due to advantages offered by the technique such as determination of metabolic pathways of active molecules.
Drug discovery segment held lion’s share
The drug discovery segment held the largest share in 2017, contributing nearly three-fourths of the total market. However, the chemical testing segment is estimated to manifest a CAGR of 7.7% during the forecast period.
𝗚𝗲𝘁 𝗱𝗲𝘁𝗮𝗶𝗹𝗲𝗱 𝗖𝗢𝗩𝗜𝗗-𝟭𝟵 𝗶𝗺𝗽𝗮𝗰𝘁 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀@ 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗙𝗼𝗿 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻: https://www.alliedmarketresearch.com/request-for-customization/619
Region wise, Europe accounted for the largest early toxicity testing market share in 2017 owing to surge in R&D related to drug discovery and stringent guidelines regulating the safety of chemicals used in different products used by public. Other factors that fuel the growth of the market in this region include the wide and easy availability of toxicity testing devices and products and presence of highly trained technical professionals. Asia-Pacific is expected to register the fastest growth during the forecast period due to rise in awareness related to toxicity of compounds and rise in R&D investments related to healthcare.
The major companies profiled in this report include Agilent Technologies, Inc., General Electric Company (GE Healthcare), Danaher Corporation (Beckman Coulter, Inc.), Evotec AG (Cyprotex), Bioanalytical Systems, Inc., Bruker Corporation, Thermo Fisher Scientific, Inc., PerkinElmer Inc., Enzo Biochem, Inc. (Enzo Clinical Labs, Inc.), and Myriad Genetics, Inc. (Myriad RBM.).
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.