Description
The Global market for In-Vitro Toxicology testing market has been estimated to be USD 10.8 billion in 2014 and it is projected to reach USD 19 billion by the end of 2020 at a CAGR of 9.8 % during the forecast period from 2014 to 2021 . Predictive in-vitro toxicology is the new cutting edge in biopharmaceutical research . It is considered one of the most significant steps in drug discovery . Predictive in-vitro toxicology will improve the quality and quantity of drugs entering clinical studies . It improves the safety and efficiency of new compounds and allows compounds to be arranged early in the development process . Earlier and more lucrative identification of potential mechanisms that cause adverse drug reactions have significant potential for improving consequences in drug discovery .
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There are different industries that require toxicity testing of their products . On the basis of end-users , the market is segmented into pharmaceutical industry , cosmetics and household products , chemicals industry , and the food and beverages industry . Pharmaceutical industry has the largest market share . This is attributed to the increased adoption of in vitro methods in the detection of toxic effects to curb drug development costs and government initiatives such as AXLR8 program that was initiated by the European Union . Cosmetics industry is expected to be the fastest growing industry in coming years because of government support and amendment of European Union ’ s Cosmetics Directive that has set forth ban on the use of animals in testing for any toxic effects of beauty products .
Rapid technological advances , huge opposition to animal testing and advances in toxicity testing protocols are the major driving factors for the growth of the In-Vitro Toxicology testing market . However , Predictive ability of the tests , stringent regulatory framework and the inability of in-vitro models to detect certain anomalies are the major challenges faced by the market .
The market for in-vitro toxicology testing is segmented on basis of Technology , Methods and Applications . Technology segment is sub-divided into High Throughput Screening , Molecular Imaging , Cell Culture , Genomics , Toxicogenomics , Proteomics and Metablolomics . The methods involved in in-vitro testing are Cell Assay based , Biochemical Assay based ,
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