Early Toxicity Testing Market to Grow at 5.3% CAGR by 2030
The development of advanced technologies such as 3D cell culture models, microfluidics, and high-throughput screening platforms that led to the development of more accurate and efficient toxicity testing methods is a major factor that drives the growth of the early toxicity testing market.
The Global Early Toxicity Testing (ETT) Market was valued at USD 8.92 billion in 2022, and is expected to reach USD 14.39 billion by 2030, at a CAGR of 5.3% during the forecast period, 2023-2030, according to a new research report by Next Move Strategy Consulting.
The increasing cost and time required for drug development and the high failure rate of drugs in clinical trials have led to a greater focus on early toxicity testing. It also helps identify the potential safety issues earlier in the drug development process. These factors lead to the growth of the early toxicity testing market.
On the contrary, there needs to be more standardization in toxicity testing methods, which can lead to inconsistent results and make it difficult to compare data from different studies. This factor hinders market growth. However, the growing concerns for animal welfare and the development of alternative methods for toxicity testing, such as in vitro and in silico testing, present a significant opportunity for the early toxicity testing industry.
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According to the report, the leading market players in the global early toxicity testing market are Eurofins Scientific, Wuxi Apptec, Danaher Corporation, Thermo Fisher Scientific, Inc., Perkinelmer, Inc., Charles River Laboratories, Bio-Rad Laboratories, Inc., Labcorp Drug Development, Agilent Technologies, Inc., Evotec AG, and others.
Key Insights from the Early Toxicity Testing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the early toxicity testing market is provided in the report.
The value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
The market share of players in the global early toxicity testing market along with their competitive analysis is provided in the report.