The global in vitro toxicology testing market USD 8.7 Billion in 2020 and is anticipated to grow at USD 17.5 Billion till 2027 recording a CAGR of 10.5% during the forecast period 2021-2027. The report provides in-depth analysis of the impact of covid-19 on the market, along with revised market numbers due to the effects of the coronavirus.
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In vitro toxicology testing refers to the effects of the toxic substances on bacteria or cultured mammalian cells. It is mainly used to identify possible dangerous chemicals for confirming the definite toxic properties at early growth stages of therapeutic drugs. Growing demand for in vitro toxicology tests, growing advanced technologies and increase in research development activities in cell cultures are anticipated to impel the revenue growth of the market. In addition, increase in economic condition of developing regions, increasing awareness among people about in vitro toxicology tests and growing healthcare related problems amid individuals are projected to create several growth opportunities for global in vitro toxicology testing market. However, technological disadvantages, strict regulatory framework and dearth of in vitro models for the detection of auto immunity and immune stimulation can restrain the market.
In vitro toxicology testing market is hugely segmented because of the presence of several key players anticipated to provide profitable growth during the forecast time span 2021-2027. These key players concentrate more on introducing pioneering technologies, developing new software solutions and augmenting in silico simulation techniques in toxicology profiling. Industries in the market aim at implementing different growth strategies including acquisitions, collaborations mergers, and launches for retaining their position and expanding their product collection in the market. For example, Aspect Biosystes made collaboration with Fraunhhofer ITEM and InSCREENex GmbH for the application of Lab on a Printer Bio Printing technology for creating new tissues, which may be utilized for improving the reliability of pre-clinical toxicity test.
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A few major key players of the global in vitro toxicology testing market are Cyprotex (Germany), GE Healthcare (U.S.), Covance (U.S.), Thermo Fisher Scientific (U.S.), Eurofins Scientific SE (Luxembourg), Promega Corporation (U.S.), SGS SA (Switzerland), Merck KGaA (Germany), Lonza Group Ltd. (Switzerland) and Charles River Laboratories, Inc. (U.S.).
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