Albany - New York, Nov. 6, 2015 (GLOBE NEWSWIRE) -- A new Transparency Market Research report states that the global in vitro toxicity testing market was valued at US$1.5 bn in 2011 and is predicted to reach US$4.1 bn by 2018. The market will expand at a healthy 15.30% CAGR between 2012 and 2018. The title of the report is "In Vitro Toxicity Testing Market - Global Industry Size, Share, Trends, Analysis and Forecast 2012 - 2018".
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According to this report, the in vitro toxicity testing market is majorly fuelled by the exponential population and economic growth of developing nations and the rising health-consciousness amongst individuals. In addition, regulatory concerns about toxicity testing are poised to propel the market. Even though this market is still an emerging market, emergence of a large number of technological advancements and the introduction of new products in the in vitro toxicity testing market will boost the market in the coming years. In vitro toxicology has a number of advantages: it is less time-consuming than conventional toxicity testing and more cost-effective in comparison to other animal testing methods. These factors will stimulate the market for in vitro toxicity testing in the forthcoming years.
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On the basis of type, the vitro toxicity testing market is segmented into absorption, dose, and toxic substances. The segment of absorption includes metabolism, distribution, and excretion. The segment of dose includes threshold response and dose response. The segment of toxic substances includes toxicant, acute and chronic toxicity, and toxicokinetics.
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On the basis of application, the market is segmented into in vitro toxicity testing methods and cytotoxicity assays used in vitro toxicity testing. On the basis of end use, the market is segmented into the pharmaceutical industry, cosmetics and household products, the chemicals industry, and the food and beverages industry.On the basis of geography, the in vitro toxicity testing market is segmented into Europe, North America, Asia, and Rest of the World. Amongst these, in 2010, the largest share was held by North America, which constituted approximately 40% of the market, having a value of US$526.9 million. This region will maintain its superiority throughout the forecasting horizon, but Europe will gradually overtake the North America market and will hold the biggest share by 2018. The prime reason for the dominance of Europe is the high prevalence of cosmetic product testing in this region. In addition, researchers are using in vitro toxicity testing methods for analysis of genotoxic effects owing to the ban on animal testing
The lack of pharmaceutical giants within this market presents lucrative opportunities for new entrants to carve out a dominating position in the market. Thus, the companies that are ready for investment in this emerging market are poised to establish themselves due to the fact that this market presents a huge scope for new participants. Players dominant in the market include WApredica (Acquired By Cyprotex), Accelrys Software Inc., Bio-Rad Laboratories, Covance Inc., Gene Logic Inc., Charles River, Laboratories International Inc., In Vitro Technologies, Molecular Toxicology Inc., Mattek Corporation, MB Research Laboratories, SBW Ltd., RTI Health Solutions, Xenometrix, and Xenobiotic Detection Systems (XDS), among others.
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The market has been segmented as follows:
In Vitro Toxicity Testing Market by End Use
- Cosmetics and Household Products
- Pharmaceutical Industry
- Food Industry
- Chemicals Industry
In Vitro Toxicity Testing Market by Application
- In Vitro Toxicity Testing Methods
- Cytotoxicity Essays Uses for In Vitro Toxicity Testing
In Vitro Toxicity Market by Type
- Dose Response
- Threshold Response
By Toxic Substances
- Acute and Chronic Toxicity
The geographies covered in this report include:
- North America
- Rest of the World
Other Related Market Research Reports:
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Transparency Market Research has published a new report that offers an in-depth study of the global metrology services market. The report, titled "In Vitro Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2012 - 2018", is available for sale on the company's website. This report offers a 360-degree view of the global in vitro diagnostics market along with an assessment of the strengths, weaknesses, opportunities, and threats faced by this market.
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Source:Transparency Market Research