NEW YORK, Oct. 3, 2017 /PRNewswire/ -- "The global in vitro toxicology testing market is projected to grow at a CAGR of 6.6%."The in vitro toxicology testing market is expected to reach USD 8.74 billion by 2022 from an estimated USD 6.34 billion in 2017, at a CAGR of 6.6%. The key factors driving the growth
"The services segment is expected to grow at the highest CAGR during the forecast period."
On the basis of product and services, the in vitro toxicology testing market is segmented into assays, services, and reagents and labware. The services segment is expected to witness the highest growth during the forecast period. The growth of this segment can be attributed to the growing preference towards contract research in vitro toxicology testing services owing to the cost benefits offered by CROs.
"Toxicogenomics to grow at the highest rate in the global in vitro toxicology testing market by technology"
Based on technology, the in vitro toxicology testing market is segmented into cell culture, high-throughput, cellular imaging, and toxicogenomics technologies. The toxicogenomics segment is expected to account for the highest CAGR in the global in the vitro toxicology testing market. Toxicogenomics is preferred to elucidate the changes in gene expression in response to toxic exposure and facilitates to identify toxicity pathways.
"The Ex vivo models segment is expected to grow at the highest CAGR during the forecast period."
Based on method, the in vitro toxicology testing market is segmented into cellular assays, biochemical assays, and ex vivo models. Ex vivo models segment is expected to grow at the highest CAGR during the forecast period owing to the growing adoption of these methods in the cosmetics industry as it is an effective alternative to animal testing for the toxicity testing of cosmetics and household products.
"China to witness the highest growth during the forecast period (2017-2022)"
The US is expected to hold the largest share of the global in vitro toxicology testing market in 2017, while China is expected to witness the highest growth during 2017 to 2022. Growing R&D investments in the biopharmaceutical sector, coupled with the rising number of CROs in this country contribute to the growth of this market in China. Additionally, rising international pressure on Chinese cosmetics industry to ban animal testing is expected to further drive this market.
Break of primary participants was as mentioned below:
The major players in the global in vitro toxicology testing market include Cyprotex(An Evotec AG subsidiary, Germany), Covance (A Laboratory Corporations of America Holding's subsidiary, US), Eurofins Scientific SE (Luxembourg), GE Healthcare (US), Thermo Fisher Scientific (US), SGS SA (Switzerland), Promega Corporation (US), Merck KGaA (Germany), Charles River Laboratories, Inc. (US), and Lonza Group Ltd. (Switzerland), among others.
The report analyzes the in vitro toxicology testing market and aims at estimating the market size and future growth potential of this market based on various aspects such as product and service; toxicity endpoint and tests; technology; method; industry; and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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The report will help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in-turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights on the following pointers:
Read the full report: https://www.reportlinker.com/p05129363
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