The Business Research Company’s In-Vitro Toxicology Testing Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The In-Vitro Toxicology Testing Global Market Report 2023 evaluates in-vitro toxicology testing market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global in-vitro toxicology testing market size is expected to grow from $9.31 billion in 2022 to $10.35 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global in-vitro toxicology is expected to grow to $15.36 billion in 2027 at a CAGR of 10.4%.
Growing healthcare expenditure is expected to propel the in-vitro toxicology testing market going forward. Health expenditure is the amount of money spent by citizens and the government out of total income on hospitals, home health services, prescription pharmaceuticals, nursing facilities, and personal healthcare. Health expenditure is increasing in the world due to the rising prevalence of disease which utilizes in-vitro toxicology testing. For instance, according to the American Medical Association, a US-based organization for physicians, health spending in the U.S. increased by 9.7% in the year 2020 to $4.1 trillion, or $12,530 per capita. This growth rate is substantially higher than in 2019 (4.3 %). Therefore, the growing healthcare expenditure is driving the in-vitro toxicology testing market.
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The in-vitro toxicology testing market segments in the report are:
1) By Product and Service: Consumables, Assays, Equipment, Software, Services
2) By Method: Cellular Assays, Biochemical Assays, In Silico Models, Ex Vivo Models
3) By Technology: Cell Culture Technologies, High-throughput Technologies, Toxicogenomics
4) By Applications: Neurotoxicity, Dermal Toxicity, Cytotoxicity, Other Applications
5) By Industry: Pharmaceuticals and Biopharmaceuticals, Cosmetic and Household Products, Food, Chemicals
The table of contents in TBRC’s in-vitro toxicology testing market report includes:
1. Executive Summary
2. In-vitro Toxicology Testing Market Characteristics
3. In-vitro Toxicology Testing Market Trends And Strategies
4. In-vitro Toxicology Testing Market – Macro Economic Scenario
5. In-vitro Toxicology Testing Market Segmentation
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26. Africa In-vitro Toxicology Testing Market
27. In-vitro Toxicology Testing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The In-vitro Toxicology Testing Market
29. In-vitro Toxicology Testing Market Future Outlook and Potential Analysis\
30. Appendix
Top Major Players:
- Thermo Fisher Scientific Inc
- Merck KGaA
- Laboratory Corporation of America Holdings
- Gentronix Limited
- Bio-Rad Laboratories Inc
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