Pune, India, July 07, 2021 (GLOBE NEWSWIRE) -- The growing technological advancement in drug safety management is expected to be a crucial factor in driving the global market, states Fortune Business Insights in a report, titled “In-Vitro Toxicology Testing Market Size, Share & Industry Analysis, By Product Type (Equipment, Assay kits, Consumables, Software, Others), By Technology (PCR Technology, Western Blot, Cell Culture Technology, Imaging Technology, Screening Technology, Others), By Applications (Neuro Toxicity, Dermal Toxicity, Cytotoxicity, Others) and Regional Forecast, 2019-2026” the surge in in-vitro tests is likely to create lucrative business opportunities for the marke.
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The report in-vitro toxicology testing market contains:
- Complete study of all the parts in the market
- Instructive data with authoritative insights
- Key market trends
- Superior insights into all emerging developments
- Regional facts and figures
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Market Driver:
Rising Emphasis on Chemical Safety Assessment to Propel Growth
The ranking and screening of potential drugs are expected to have a tremendous impact on the market. The growing number of in-vitro tests is expected to spur business opportunities for the market.
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The growing drug safety checks are likely to promote the growth of the market. The enormous investment in research and development activities by manufacturers to develop innovative products is expected to enable speedy expansion of the market in the forthcoming years. The emphasis on derma toxicity, cytotoxicity, and other applications is expected to boost the development of the market. For instance, cytotoxicity testing is used for quality control testing of the manufactured drug. The growing focus on drug discovery and personalized medicine by in-vitro drugs is predicted to create growth opportunities for the market.
Nonetheless, the lack of professionals along with stringent regulations by government authorities for safety are factors expected to restrict the growth of the market.
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Regional Analysis:
Improved Healthcare Infrastructure to Influence Growth in Europe
Geographically, the global in-vitro toxicology testing market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. North America is expected to exhibit a high growth rate during the forecast period owing to the rising technological advancements in the region. The high investment in the healthcare industry has led to enhanced drug safety regulations.
Europe is predicted to hold the largest market share during the forecast period due to rising healthcare awareness related to blood reaction and donation. The increased per-capita income & expenditure along with enhanced healthcare infrastructure are factors expected to enable speedy expansion of the market during the forecast period. Asia Pacific is likely to account for a significant share during the forecast period owing to the increasing government initiatives for the healthcare sector. The developing healthcare facilities in the region will further aid expansion in Asia Pacific.
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Key Development:
0ctober 2018: SGS SA announced the launch of the new in-vitro testing which consists of the development of present cell/tissue culture capabilities, flow cytometry, and mass spectrometry facilities, along with the introduction of high throughput screening, automation, and multiplexing technologies
The Report Lists the Main Companies in the In-Vitro Toxicology Testing Market:
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Covance, Inc.
- Bio-Rad Laboratories, Inc.
- Gentronix
- Creative Biolabs
- GE Healthcare
- Qiagen N.V.
- and others.
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