The global In Vitro Toxicology Testing Market size is projected to reach a CAGR of 10.8% from 2023-2030.
In vitro is the process that helps examine harmful chemicals over the isolated part of the organism. It is used to identify hazardous chemical substances and helps detect toxicity at the early stages of the development of new products, such as drugs, cosmetics, and food additives. In vitro, toxicity testing (IVTT) is mainly used for safety evaluation in drug development and also for ranking the chemicals according to their potency. The absorption, distribution, metabolism, excretion (ADME), dose-response, and threshold response of the drug can also be determined by in vitro toxicity testing.
The rise in the number of R&D procedures will act as a major driver accelerating the in-vitro toxicology testing market’s growth rate. Another significant factor resulting in the expansion of the market is the growing development of 3D cell culture. Furthermore, a ban on animal testing and rising environmental concerns are the major drivers that will enhance the growth of the market. Likewise, a rise the government funding for research along with favourable reimbursement policies for developing automated and technically advanced equipment for laboratory analysis will show a positive impact on the market’s growth rate. Growing healthcare expenditure, rapid urbanization, and a rise in the level of disposable incomes in developing and developed countries will influence the growth rate of the in-vitro toxicology testing market.
On the other hand, the rising number of toxicology databases and advancements in medical technology will provide beneficial opportunities for the in-vitro toxicology testing market growth. Adding to this high cost associated with testing and the scarcity of in vitro models to study complex endpoints are factors that will obstruct market growth.
The COVID-19 pandemic forced many companies in the global in vitro toxicity testing market to halt business operations for a short term to comply with new government regulations to curb the spread of the disease. This halt in operations directly impacts the revenue flow of the global in vitro toxicity testing market. In addition, there is a halt in the manufacturing of industrial products, owing to a lack of raw materials and manpower during the lockdown period. Further, no new consignments are received by companies that operate in this sector. Hence, a halt in industrial activities and lockdowns for several months has affected the global in vitro toxicity testing market and the market is anticipated to witness a slow recovery during the forecast period.
Various novel techniques and fields are offering significant advancements in the comprehension of the biological responses of human tissues to chemical agents. These cutting-edge advancements are predicted to push forward the expansion of the in-vitro toxicology market growth throughout the projected duration.
North America to Dominate the Market
