(PharmaNewsWire.Com, August 12, 2020 ) According to the new market research report "In Vivo Toxicology Market by Product (Instruments, Consumables (Animal models, Reagents & Kits)), Testing type (Chronic, Sub-chronic), Toxicity Endpoints (Immunotoxicity, Systemic, DART), Testing Facility (Outsourced, In-house) - Global Forecast" published by MarketsandMarkets™.
The Global In Vivo Toxicology Market is expected to grow at a CAGR of 6.9% during the forecast period to reach to USD 6.14 Billion.
Major Market Growth Drivers & Opportunities:
Growth Drivers;
- Increasing Pharmaceutical R&D Activities
- Mandatory Government Regulations for Animal Testing
- Innovations in Animal Models
- Exclusive In Vivo Toxicology Tests
Growth Opportunities;
- Increasing Research in Oncology and Personalized Medicine
The consumables segment is expected to hold the largest share of the market
Based on product, the in vivo toxicology market is segmented into consumables and instruments. The consumables segment is further divided into reagents & kits and animal models. In 2017, the consumables segment is expected to account for the largest share of the in vivo toxicology market owing to the increasing R&D funding for the development of new transgenic animal models, advancements in the development of genetically modified animals, increasing usage of reagents and kits for biological sample analysis.
By testing type, sub-acute toxicity testing to register the highest CAGR during the forecast period
The in vivo toxicology market is segmented by testing type into chronic, sub-chronic, sub-acute, and acute toxicology testing. In 2017, the sub-acute toxicity testing segment is expected to register the highest CAGR of during the forecast period. Growth in this market is attributed to the increasing focus on neurological and anti-viral drug research, which requires more than two weeks of toxicity studies.
Objectives of the Study:
- To define, describe, and forecast the global market by product, testing type, toxicity endpoint, testing facility, and region
- To provide detailed information regarding the major factors influencing the growth of the global market (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
Geographically, North America is estimated to dominate the market with the highest market share in the market. The largest share of this regional segment is attributed to the increasing investments in R&D activities, scientific developments in biotechnology, and the presence of major pharmaceutical and preclinical testing companies in the region. However, Latin America (LATAM) is expected to grow at the highest CAGR during the forecast period. Factors such as the flourishing pharmaceutical and biopharmaceutical industry in Brazil in turn propelling the drug development activities and increase in the number of CROs that offer cost-effective in vivo toxicology services are driving the growth of the global market in LATAM.
The major players in the global in vivo toxicology market include Thermo Fisher (US), Danaher (US), Charles River (US), Covance (LabCorp), and The Jackson Laboratory (US).
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