The major factors driving the growth of this in vitro toxicity testing market are the technological advancements, and increasing R&D expenditure to detect toxicity at an early stage during drug development are the primary growth drivers for this market.
According to research report In Vitro Toxicology Testing Market is expected to reach $14.9 billion by 2025, at a CAGR of 10.3%.
The large share of this segment can be attributed to the increasing demand for high-quality reagents and the repeated use of media and reagents in in vitro toxicology studies. The consumables segment is estimated to account for the largest market share in 2019.
The organ toxicity segment is expected to grow at the highest CAGR during the forecast period. The growth in this segment can be attributed to factors such as the need to screen potential drug targets during the early stage of drug development, increasing focus on drug safety and consumer-product safety.
Based on the technologies the cell culture technologies segment is expected to account for the largest share of the in vitro toxicology testing market.
The prominent players in the in vitro toxicology testing market include Thermo Fisher Scientific Inc. (US), Covance (US), Bio-Rad Laboratories, Inc. (US), GE Healthcare (US), SGS S.A. (Switzerland), QIAGEN N.V. (Germany), Promega Corporation (US), Charles River Laboratories International, Inc. (US), Catalent, Inc. (US), Eurofins Scientific SE (Luxembourg), Merck KGaA (Germany), Cyprotex (UK), Gentronix Limited (UK), BioIVT (US), and MB Research Laboratories (US).
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