Increase in adoption of in-vitro models, rise in R&D activities in the healthcare sector, surge in drug development activities for novel diseases and technological advancements drive the demand for early toxicity testing across the world. The demand for toxicity testing during the pre-clinical trials has been increased to determine the safety and effectiveness of new drug candidates. Market players have adopted the collaboration strategy to carry out pre-clinical trials and utilizing expertise of each other to carry out testing successfully. The Asia-Pacific region is projected to witness a significant growth, due to adoption of various strategies by market players and and surge in R&D investments in the drug development processes.
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.
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The growth in early toxicity testing market is due to rise in research and development activities and surge in adoption of toxicity testing across various industrial areas. Furthermore, stringent government guidelines are expected to boost the growth of the Europe early toxicity testing market.
Market players have been adopting the strategy of collaboration to conduct toxicity testing. Affyxell Therapeutics collaborated with Korea Non-Clinical Technology Solution Center (KNTSC) and Biocytogen. This strategy will help in conducting efficient pre-clinical trials. In the drug development stage, pre-clinical trials play a vital role in determining the safety of new drug candidates and the relationship between particular genes and diseases. Through the collaboration, Affyxell Therapeutics aims to carry out toxicity testing of some of its drug candidates with the help of animal and disease models. The company will determine the efficacy of new drug candidates for various diseases.
Factors that drive the growth of the market include rise in R&D activities and surge in stringent regulatory authorities concerning public healthcare welfare. Increase in adoption of in vitro model which is the major current early toxicity testing market trend also boosts the growth of the market. However, challenges of preclinical testing hamper the market growth. Furthermore, technological advancements in preclinical diagnostic equipment provide lucrative opportunities for the early toxicity testing market growth.
Key Findings of the Europe Early Toxicity Testing Market:
- Germany occupied approximately one fifth share of the Europe early toxicity testing market in 2017.
- The in silico segment is anticipated to grow with the highest CAGR throughout the forecast period.
- The pharmaceutical industry segment accounted for more than two third share of the market in 2017.
- The cosmetic industry is anticipated to grow at the highest rate during the analysis period.
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Comprehensive competitive analysis and profiles of major market players, such as
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.).
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