The major factors driving the growth of this market are the technological advancements and opposition to animal testing 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 the new market research report In Vitro Toxicity Testing Market is expected to reach USD 14.9 billion by 2025, at a CAGR of 10.3%.
The research in this area is being further undertaken to understand the dynamics of the infection better, which is expected to propel the in vitro toxicology research field further. Due to covid-19 outbreak, there has been a significant increase in Covid-19 testing and drug research. On the other hand, we are estimating that the major share of diagnostic assays and molecular testing of Covid-19, along with personalized medicine will grow at a stable pace in the next five years. There is a huge increase of manufacturers that have taken key steps to increase patient access to coronavirus diagnostic testing, hospitals, vaccine and drug development in laboratories and other testing sites across the country to guide patient care and protect public health.
The growth in the organ toxicity segment can be attributed to factors such as the increasing focus on drug safety and consumer-product safety, along with the need to screen potential drug targets during the early stage of drug development. The organ toxicity segment is expected to grow at the highest CAGR during the forecast period.
Based on the technologies used in the in vitro toxicology testing, the cell culture technologies segment is expected to account for the largest share of the market.
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