Dublin, Nov. 25, 2021 (GLOBE NEWSWIRE) -- The "Toxicology Services Global Market - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
According to analysis, the global toxicology services market is expected to grow at a mid single-digit CAGR from 2021 to 2028, to reach $17.04 billion by 2028.
The factors such as mandatory toxicology testing requirement for various industries like pharma, medical device, cosmetic, chemical and food for their product approvals or registration, increased trend of outsourcing, increase in pharma R&D expenditure are driving the toxicology services market. Whereas, the emergence of advanced technology likes 3D-model, ex-vivo, organ-on-a chip and in-silico tool, increasing in utilization of nano-materials and regulatory changes to enhance safety profiles of agents will provide immense growth opportunities for toxicology services market in future. However, increasing focus towards drug repurposing, lack of skilled personnel, high cost and long duration of the tests and stringent government regulations towards the animal studies are expected to hamper the market growth.
The market for toxicology services is segmented based on study methods, industry, end-points, and geography.
Based on the study methodologies, the market is segmented into In Vivo, In Vitro and In-Silico. Among the study methodologies, in-vitro toxicity services accounted for the highest revenue in 2021 and are expected grow at a mid single digit CAGR from 2021 to 2028. The In-vitro toxicology services market is further segmented in to Cellular & Biochemical assays, Ex Vivo and 3D-model and Organ-on-a-chips. Among these, Cellular & Biochemical assay segment is accounted for the largest revenue in 2021 and is expected to grow at a mid single digit CAGR from 2021 to 2028. 3D-model and Organ-on-a-chips is expected to grow at a high single digit CAGR from 2021 to 2028 to due to increasing adoption of 3D model and organ on a chip based assays in toxicology studies.
Based on the industry, toxicology services market is classified into Pharmaceutical, medical device, chemical, cosmetics and others. Among the industries, Pharmaceutical segment is accounted for the highest revenue in 2021 and is expected to grow at a mid single digit CAGR from 2021 to 2028. Medical devices are expected to grow at a high single digit CAGR from 2021 to 2028. Pharmaceutical segment is further sub-segmented into drug discovery and developmental toxicology. Among these, drug developmental toxicology is accounted for the highest revenue in 2021 and is expected to grow at a mid single digit CAGR from 2021 to 2028. Drug discovery toxicology is expected to grow at mid single digit CAGR from 2021 to 2028. The chemical segment is further segmented into industrial chemical and agrochemicals. Among these, industrial chemical is accounted for the highest revenue of in 2021 and is expected to grow at a mid single digit CAGR from 2021 to 2028. AgroChemical segment is expected to grow at a high single digit CAGR from 2021 to 2028. Other industries segment is further segmented into food, consumer goods, environment and others. Among these, environment segment is accounted for the highest revenue in 2021 and is expected to grow at a mid single digit CAGR from 2021 to 2028.
According to analysis, the end-points market are categorized into acute toxicity, chronic toxicity, dermal toxicology, ocular toxicology, safety pharmacology, reproductive and developmental toxicology, genotoxicity, carcinogenicity, neurotoxicity, ecotoxicolgoy and others. Among these, acute toxicology segment is accounted for the highest revenue of in 2021 and is expected to grow at a mid single digit CAGR from 2021 to 2028. Developmental & Reproductive toxicology is expected to grow at high single digit CAGR from 2021 to 2028.
By geography, the toxicology services global market is segmented into North America (U.S. and Rest of North America), Europe (Germany, France, U.K. and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of APAC) and the Rest of the world (Brazil, Rest of Latin America and the Middle East & Africa). North America accounted for the largest revenue in 2021 and is expected to grow at a mid single digit CAGR from 2021 to 2028. The factors such as increasing R&D expenditure, mandatory toxicology studies required for new drug, chemical, food additive, agrochemical and chemical to enter into the market, increase in development of new drugs, increase in development of novel medical devices and increasing adoption of advanced technologies and novel in-vitro and in-silico models to expand the services capabilities by the toxicity service providers are driving the toxicology services market in the region.
Asia-Pacific is expected to grow at a high single digit CAGR from 2021 to 2028 due to growing pharma and biopharma industries with development of innovative drugs into the market, mandatory regulatory toxicology studies needed for approval of new drugs, medical device, agrochemical into the market, increasing number of agrichemical registrations, increasing government investment towards the pharma and biopharam industries. Further, changing regulations to ensure further safety profiles of pesticides will boost the demand for toxicology services in the region future.
The toxicology services global market is competitive and all the players in this market are involved in adopting advanced technologies in toxicology studies to expand their service offerings and maintain their market shares.
The key players in the Toxicology services global market include: Charles River Laboratories International (U.S.), CMIC Holdings Co., Ltd (Japan), Evotec SE (Germany), Eurofins Scientific S.E. (Luxemburg), Inotiv, Inc. (U.S.), North American Science Associates, LLC (U.S.), Laboratory Corporation of America Holdings (U.S.), ITR Laboratories Canada Inc. (Canada), Pharmaron Beijing Co. Ltd. (China), SGS SA (Switzerland) and Wuxi Apptec (China).
Full List of Companies Mentioned
- Altogen Labs
- APT Testing & Research Pvt. Ltd. (ATR)
- AquaTox Testing & Consulting Inc.
- Aragen Life Sciences
- Aurigene Discovery Technologies Limited
- Bienta/Enamine Ltd.
- Biomed Preclinical Solutions
- Bioneeds India Private Limited
- Bioscience Research Foundation
- BTS Research
- Bureau Veritas (Maxxam)
- Burleson Research Technologies, Inc.
- CARE Research, LLC
- Charles River Laboratories
- ChemDiv, Inc.
- Chemex Environmental International Ltd.
- ChemOn Inc.
- CN Bio
- Computational Toxicology Services LLC
- Creative Animodel
- Creative Bioarray
- Creative Biolabs
- Cytocom (ImQuest BioSciences)
- Dabur Research Foundation
- Diligence Bio Private Limited
- Edara Research Foundation
- Emulate Inc.
- ERBC Group
- Explora BioLabs
- Fera science Ltd.
- Frontage Laboratories (Concord Biosciences LLC)
- Genesis Biotechnology Group (Comparative Biosciences, Inc.)
- Geneva Laboratories, Inc.
- Gentronix Limited
- GLR Laboratories Pvt. Ltd.
- In silico toxicology GmbH
- Ina Research
- Innovative Environmental Services (IES) Ltd.
- Inotiv, Inc.
- Insphero AG
- Integrated Laboratory Services (ILS)
- Intox Private Limited
- InVivo Biosystems
- ITR Laboratories Canada Inc.
- Iuvo BioScience
- Jai Research Foundation
- JSR Corporation (Crown Bioscience)
- Jubilant Biosys Limited
- KGK Science
- Krish Biotech Research Private Limited
- Laboratory Corporation of America Holdings
- Lambda Therapeutic Research Limited
- Level Biotechnology Inc.
- Liveon Labs Pvt. Ltd.
- LPT Laboratory of Pharmacology
- MB Biosciences
- MercachemSyncom (Admescope)
- Metrion Biosciences
- NAMSA Inc.
- NMS Group S.p.A. (Accelera s.r.l)
- NuChem Therapeutics (Amplia PharmaTek Inc.)
- Pacific Biolabs
- Pacific Ecorisk, Inc.
- Palamur Biosciences Private Limited
- PharmaLegacy laboratories
- Pharmaron, Inc.
- Porsolt (Fluofarma)
- PRADO Private Limited
- Product Safety Labs Inc.
- RCC Laboratories India Private Limited
- Ross Life science Private Limited
- Sai Life Sciences
- Sequani Ltd.
- SGS SA
- Shanghai Medicilon
- Sinclair Research
- Sipra Labs Limited
- Sotera Health
- Spectris (Concept Life Sciences)
- Staphyt (Rovaltain Research)
- STILLMEADOW, Inc.
- Syngene International Limited
- TCG Lifesciences
- Toxikon Corporation
- Vanta Bioscience Limited
- Vimta Labs Limited
- Vipragen Biosciences Private Limited
- Vivo Bio Tech Ltd.
- Vivo Science
- WuXi Apptec
For more information about this report visit https://www.researchandmarkets.com/r/33j175
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