As cited by the research report titled ‘Global In Vitro Toxicity Testing Market Size study by Product (Assay (Western Blot, Tissue Culture),Equipment, Assay Reagent, Software), Toxicity Endpoints (ADME, Skin Irritation, Corrosion),Industry (Pharmaceutical, Cosmetics) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global in vitro toxicity testing market was valued at USD 9.1 billion in 2020 and is estimated to record a CAGR of 10.1% over 2021-2027, subsequently accumulating a valuation of USD 18.07 billion by the end of forecast period.
 

Growing research & development activities in this business space, stringent regulations related to animal testing, and increasing awareness related to environmental concerns are the major factors driving global in vitro toxicity testing market growth. Expanding focus towards drug discovery and personalized medicine using in vitro methods are further augmenting the market scope during the projected timeline.
 

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Moreover, technological advancements in genetics & genetic screening approaches, emergence of innovative approaches to 3D cell culture, and focus on new product launches are favoring the industry dynamics as well.
 

For instance, Labcorp Drug Development (formerly Covance) had opened a new R&D Center in Shanghai, China in September 2019. Similarly, Eurofins Scientific SE launched a new food testing laboratory in Suzhou, China in May 2018.
 

For the uninitiated, in vitro toxicity testing is the scientific analysis of properties and effects of toxic substances on cultured bacteria or cells.
 

Speaking of negatives, dearth of skilled professionals for method development, operation, validation, and troubleshooting activities is likely to act as a bottleneck for the market progress over the estimated timespan.
 

Based on product type, global in vitro toxicity testing industry is segmented into consumables, assays, equipment, software, and services. By method the marketplace is divided into biochemical assays, cellular assays, in silico models, and ex vivo models. On the basis of technology, cell culture technologies, high-throughput technologies, and toxicogenomics.
 

Speaking of toxicity endpoints & test, the business space is categorized into ADME, ocular toxicity, skin irritation- corrosion- & sensitization, genotoxicity testing, organ toxicity, phototoxicity testing, dermal toxicity, cytotoxicity testing, and others. Considering industry ambit, the industry is classified into cosmetic & household products, pharmaceuticals & biopharmaceuticals, food, and chemicals.
 

From the regional point of view, analysts cite that North America market is likely to garner lucrative returns over the assessment period, owing to rising infrastructure investment, increasing healthcare expenditure, and growing focus among government bodies towards expanding drug discovery activities.
 

Meanwhile, Asia Pacific market is expected to expand at a significant growth rate over the forecast duration 2021-2027, primarily driven by improving healthcare infrastructure and expanding government incentives for research in academic & private organizations to support technological breakthroughs.
 

Prominent players swaying global in vitro toxicity testing industry trends are Laboratory Corporation of America Holdings, Eurofins Scientific SE, Quest Diagnostics Incorporated, GE Healthcare, Catalent Inc., Thermo Fisher Scientific Inc., Abbott Laboratories, Bio-Rad Laboratories Inc., Charles River Laboratories International Inc., and Merck Group.