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In Vitro Toxicology Testing Market Expected To Reach US$ 7,750 Mn By 2022

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In vitro toxicology testing is carried out to identify the potential toxicity of new compounds when they are at an early stages of development during the discovery and development of new drugs. This type of testing is carried out to identity the pr
In vitro toxicology testing is carried out to identify the potential toxicity of new
compounds when they are at an early stages of development during the discovery and
development of new drugs. This type of testing is carried out to identity the presence
or absence of certain toxins in drugs, agricultural chemicals and food additives. There
is a sharp increase in R&D procedures which require in vitro toxicology testing and
this is boosting the growth of this market along with latest technological
developments. Moreover, the ban on animal testing has led to the increasing adoption
of in vitro toxicology testing and the governments all across the world are providing
increased funding for such type of testing.
The global in vitro toxicology testing market is slated to touch a value of about US$
7,750 Mn in the year 2022 and grow at a robust CAGR during the assessment period.
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As per the forecast of Persistence Market Research, the services segment is slated to
touch a value of nearly US$ 2,400 Mn in the year 2022. This represents a robust
CAGR growth during the assessment period of 2017-2022. The services segment is
estimated to account for nearly one-third of the revenue share of the product &
services type segment by the year 2017 and is forecasted to gain market share by
2022 over 2017.
As per the forecast of Persistence Market Research, the biochemical assays segment
will reach a value of about US$ 1,800 Mn in the year 2017. This represents a robust
CAGR growth during the forecast period. The biochemical assays segment is
forecasted to account for nearly one-third of the total revenue share of the method
segment by the end of the year 2017 and is expected to lose in market share by 2022
as compared with the year 2017.
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As per the forecast of Persistence Market Research, the pharmaceutical and
biopharmaceutical industry segment is slated to reach a value of nearly US$ 3,500
Mn in 2022. The pharmaceutical and biopharmaceutical segment is expected to gain
market share by the end of the year 2022. The largest share is contributed by the
North America region in the pharmaceutical and biopharmaceutical segment.
Persistence Market Research forecasts the cell culture technologies segment to
exhibit a compound annual growth rate (CAGR) of 5% from 2017 to 2022.
The report has also included the profiles of some of the leading companies in the in
vitro toxicology testing market like Promega Corporation, Charles River Laboratories
International, Inc., SGS S.A., Qiagen N.V., Cyprotex PLC, Bio-Rad Laboratories,
Inc., Merck KGaA, GE Healthcare Inc., Thermo Fisher Scientific Inc. and Eurofins
Scientific Se.
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