The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s in-vitro toxicology testing market report forecasts the in-vitro toxicology testing market size to grow to $15.36 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

Learn More On The In-Vitro Toxicology Testing Market Report 2023 – https://www.thebusinessresearchcompany.com/report/in-vitro-toxicology-testing-global-market-report

In-Vitro Toxicology Testing Market Size Forecast
The global in-vitro toxicology testing market is expected to grow from $9.31 billion in 2022 to $10.35 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The in-vitro toxicology market size is expected to grow to $15.36 billion in 2027 at a CAGR of 10.4%.

North America held the largest in-vitro toxicology testing market share, and Asia-Pacific was the fastest-growing region in 2022.

Key In-Vitro Toxicology Testing Market Driver ­– Growth In Healthcare Expenditure
For instance, according to the American Medical Association, a US-based organization for physicians, health spending in the U.S. increased by 9.7% in the year 2020 to $4.1 trillion, or $12,530 per capita. This growth rate is substantially higher than in 2019 (4.3 %). Therefore, the growing healthcare expenditure is driving the in-vitro toxicology testing market.

Request for A Sample Of The Global In-Vitro Toxicology Testing Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7987&type=smp

Key In-Vitro Toxicology Testing Market Trend – Developing Innovative Cell Culture Systems
Major companies operating in the in-vitro toxicology testing market are focused on developing new technological solutions to strengthen their position. For instance, in August 2021, Amerigo Scientific, a US-based company operating in in-vitro toxicology testing launched 3D cell culture for scientific uses. This innovative vitro 3D cell culture technology offers a solution for precision medicine approaches that could host human and animal cells, making it a concrete solution for replacing and reducing small animal studies with both ethical and economic impacts in drug development.

In-Vitro Toxicology Testing Market Segment
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

In-Vitro Toxicology Testing Market Major Players and Strategies
Major players in the in-vitro toxicology testing market are Thermo Fisher Scientific Inc., Merck KGaA, Laboratory Corporation of America Holdings, Gentronix Limited, Bio-Rad Laboratories Inc., Eurofins Scientific SE, Charles River Laboratories International Inc., Promega Corporation, Agilent Technologies Inc., Abbott Laboratories, Evotec AG, SGS S.A., BioIVT, MB Research Laboratories, Creative Biolabs Inc., Quest Diagnostics Inc., Creative Bioarray, InSphero AG, PerkinElmer Inc., and Cyprotex PLC.

In December 2021, Aragen Life Sciences Private Limited, an India-based R&D and manufacturing solutions provider acquired Intox Private Limited for an undisclosed amount. This acquisition helps Aragen to expand its integrated drug discovery and development toxicology services to pharmaceutical companies. Intox Private Limited is an India-based company operating in in-vitro toxicology testing.

The In-Vitro Toxicology Testing Global Market Report 2023 covers regional data on in-vitro toxicology testing market size, in-vitro toxicology testing market trends and drivers, opportunities, strategies, and in-vitro toxicology testing market competitor analysis. The countries covered in the in-vitro toxicology testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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.

View More Reports Related To The In-Vitro Toxicology Testing Market –
In Vitro Diagnostics Global Market Report 2023
Testing Software Global Market Report 2023
Metabolomics Global Market Report 2023

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: