Early Toxicity Testing Market is poised to grow at a CAGR of 6.5% during the forecast period of 2021-2030
Consistent growth in healthcare & pharmaceutical industry and advancements in technology are expected to drive the growth of early toxicity testing market during the forecast period.
Global Early Toxicity Testing Market is expected to grow at a CAGR of 6.5% from 2021-2030, according to a new research report by Next Move Strategy Consulting.
Toxicity is a paramount factor in drug development. Toxicity testing is conducted to determine the degree to which a substance can damage a living organism. Owing to the higher rejection rate of drugs due to their high toxicity level, the inclination of companies towards the usage of toxicity testing for drug discovery have significantly increased. The global early toxicity testing market is expected to witness significant growth during the forecast period, owing to increase in the R&D activities and rise in stringent regulatory authorities concerning public healthcare welfare. However, limitations associated with preclinical testing is expected to hamper the market growth during the forecast period.
Based on technique, the market is divided into in vivo, in vitro, and in silico. Based on in vitro, it is further divided into assays and endpoints. The in vitro toxicity testing market by assays is further segmented into enzyme toxicity assays, bacterial toxicity assays, cell-based ELISA & western blots, receptor binding assays, and other assays. The in vitro toxicity testing market by toxicity endpoints is further divided into dermal toxicity, systemic toxicity, carcinogenicity, ocular toxicity, skin sensitization and irritation, neurotoxicity, organ toxicity, and other toxicity endpoints. By end user, it is categorized into pharmaceutical industry, food industry, chemicals industry, cosmetics industry, and other industry. Based on region, the early toxicity testing market size is analyzed across North America, Europe, Asia-Pacific, and RoW.
Geographically, North America is expected to hold the major market share owing to the increased adoption of early toxicity testing. Also, technological advancements and presence of developed infrastructure along with aggressive R&D activities are expected to promote the growth of early toxicity testing market.
However, Asia Pacific is expected to show tremendous growth in terms of market size owing to increased R&D investment coupled with presence of various pharmaceutical companies and prevalence of various chronic disorders with increasing demand of effective drugs discovery.
According to the report, the global early toxicity testing market is highly competitive and consists of numerous market players. Some of the major market players are Agilent Technologies, Inc., Bioanalytical Systems, Inc., Bruker Corporation, Danaher Corporation, Evotec AG, Enzo Biochem, Inc., General Electric Company, Myriad Genetics, Inc., Perkinelmer Inc., Thermo Fisher Scientific, Inc., and others.
Browse key industry insights from the report, “Global Early Toxicity Testing Market by Technique (In-vivo, In-vitro, & In-Silico), End-user (Pharmaceutical, Diagnostics, Food, Chemicals, Cosmetics, & Others) - Global Opportunity Analysis and Industry Forecast, 2021-2030” in detail along with the table of contents:
Key Insights from the Early Toxicity Testing Market Report:
- North America is the fastest growing region in Global Early Toxicity Testing Market owing to accelerated financing to construct climate-resilient infrastructure.
- In-silico segment dominates the market growth in terms of industry vertical and is expected to grow at a significant CAGR to maintain the lead till 2030.
The report Global Early Toxicity Testing Market – segmented by technique, end user and geography.
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