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Global In-vitro Toxicity Testing Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio

September 10, 2019
Global In-vitro Toxicity Testing Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio
Global In-vitro Toxicity Testing Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio

LONDON--(BUSINESS WIRE)--Sep 10, 2019--

The global in-vitro toxicity testing market size is poised to reach USD 2.39 billion by 2023, according to a new report by Technavio, progressing at a CAGR of close to 7% during the forecast period.

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Technavio has published a new market research report on the global in-vitro toxicity testing market from 2019-2023. (Graphic: Business Wire)

“Governments, philanthropic organizations, and pharmaceutical companies are increasingly investing in drug discovery research. New drug discoveries require the adoption of in-vitro toxicity testing to identify the harmful effects of the drugs at an early stage. Thus, the increasing investments in drug discovery will drive market growth during the forecast period,” says a senior analyst at Technavio. Request Free Sample Pages

The market is driven by the increasing use of in-vitro toxicity testing by companies to reduce drug failures. In addition, the rising number of awareness programs is anticipated to further boost the In-vitro toxicity testing market during the forecast period.

Toxicity is one of the major factors responsible for the rejection of drugs in the last development phase. Thus, it is essential to adopt in-vitro toxicity testing as it reveals the species, organ, and dose-specific toxic effects of drugs. It also helps avoid adverse effects in patients who consume drugs for stomach pains, weakness, hand tremors, ataxia, diarrhea, dizziness and in rare cases, heart problems. Thus, the use of in-vitro toxicity testing to reduce drug failures will drive market growth during the forecast period.

Government bodies across the world are taking initiatives to improve understanding about the harmful effects of chemicals and substances. These initiatives provide critical information and knowledge to regulatory agencies, decision-makers, and manufacturers to limit the exposure of individuals to such substances and, hence, prevent the likelihood of diseases. Such initiatives are increasing the demand for in-vitro toxicity testing for non-animal tests. Thus, the rising number of awareness programs will drive the growth of the market.

For More Information: Request Free Sample Pages

The report includes detailed profiles of the leading companies & prominent vendors of the market:

Market Segmentation by End-User:

The In-vitro toxicity testing market can be broadly categorized into the following end-user segments:

Key Regions for the In-Vitro Toxicity Testing Market:

Featuring a breakdown of region-wise market shares until 2019.

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Vendor Landscape

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Related Reports on Health careare:

POC Coagulation Testing Market – Global POC Coagulation Testing Market by end-users (hospitals and clinics and homecare) and geography (Asia, Europe, North America, and ROW).

Vitamin D Testing Market – Global Vitamin D Testing Market by product (25-hydroxyvitamin D testing and 1,25-dihydroxyvitamin D testing) and geography (Asia, Europe, North America, and ROW).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190910005665/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: VETERINARY RESEARCH CLINICAL TRIALS BIOTECHNOLOGY HEALTH PHARMACEUTICAL SCIENCE

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 09/10/2019 09:06 AM/DISC: 09/10/2019 09:06 AM

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