Global In Vitro Toxicity Testing Market generated $3,366 million in 2016 and is projected to attain $7,813 million by 2022, registering a CAGR of 15.0% during the forecast period, 2016-2022.Presently, North America and Europe have the highest growth potential due to technological advancements and increased R&D initiatives in these regions. However, the market would gain traction in the developing regions of Asia-Pacific, due to the increase in urbanization & disposable income, rise in government funding, and growth in awareness about the advanced technologies.
Get Sample Copy of This Report @ https://www.alliedmarketresearch.com/request-sample/1523
The growth of the global in vitro toxicity testing market is driven by the rise in awareness of regulatory authorities concerning environment welfare, demand of in-vitro methods for cancer diagnosis, replacement of in-vivo models by in-vitro models, and a global increase in replacement of in-vivo models by in-vitro models. However, the incapability of in vitro models to determine autoimmunity and immunostimulation along with a reduced adoption rate of in-vitro toxicity testing methods hampers market growth. Conversely, development and advancement of new in-vitro technology and models is set to provide lucrative opportunities for emerging market players in the near future.
The report segments the global in vitro toxicity testing market based on type, end user, and geography. Based on type, the report segments the market into absorption, toxic substances, and dose. The absorption segment was the largest contributor to the global market revenue in 2015 and is expected to continue with its dominance throughout the forecast period, owing to the numerous applications of absorption screening pharmaceutical, cosmetics, and household products. However, the toxic substances segment is anticipated to grow at the fastest rate, a CAGR of 15.85%, due to the increase in cases of lead poisoning and cancers that occur due to the mutation caused by the toxic chemicals.
Based on end user, the market is sub-segmented into cosmetics and household products, pharmaceutical industry, food industry, and chemical industry. The cosmetics and household products segment occupied the highest share in the global market in 2015 owing to an increase in adoption in various applications, such as to detect dermal toxicity, systemic toxicity, and ocular toxicity.
Send Enquiry on This report @ https://www.alliedmarketresearch.com/purchase-enquiry/1523
Cosmetics and household products segment is the highest revenue contributor to this market owing to increase in adoption in various applications, such as to detect dermal toxicity, systemic toxicity, and ocular toxicity. However, food industry is expected to be the fastest growing segment owing to the high demand in U.S., China, and India, growing at a CAGR of 19.65%.
The key players profiled in this report include Agilent Technologies, Inc., BioReliance, Inc., Alere, Inc., Charles River Laboratories International, Inc., General Electric Company, Covance, Inc., Catalent, Inc., Eurofins Scientific, Bio-Rad Laboratories, Inc., and Thermo Fisher Scientific, Inc. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: +1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060