Global Toxicity Testing Outsourcing Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Toxicity testing is also known as toxicology testing or safety assessment. It is a process of determining a substance of interest that undesirably influences the normal biological functions of an organism that provides a certain exposure period, substance concentration, and route of exposure. Factors such as thriving growth of the biopharmaceutical sector, increasing R&D spending by pharmaceutical firms, coupled with the rise in the number of innovative drugs are propelling the market demand across the globe.
According to Statista, the biopharmaceutical sector generated USD 5.28 trillion in revenue in 2018 in the global market, which is continuously growing and reached to USD 7.15 trillion in the year 2021. Consequentially, the development of the biopharmaceutical sector is exhibiting a positive influence on the growth of the Toxicity Testing Outsourcing Market. In addition, growing trend of using toxicity testing services and surging the demand for biologics are leveraging the market growth in the forthcoming years. However, lack of standardization and high cost is related with the R&D activities are stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Toxicity Testing Outsourcing Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the space in terms of revenue, owing to the increasing development of drug discovery technologies and increasing number of reimbursement policies. Whereas, the Asia Pacific is expected to grow significantly during the forecast period. Factors such as growing investment in the R&D activities, as well as emergence of innovative drugs, are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
Euro fins Scientific
SGS SA
Charles River Laboratories
Thermo Fisher Scientific, Inc.
Intertek Group plc,
Catalent, Inc.
ICON plc.
Med pace
Labcorp Drug Development
Wuxi AppTec
Recent Developments in the Market:
In December 2021, Labcorp announced the acquisition of Toxikon Corporation- a contract research organization, with the objective of supporting Labcorp for the development and expansion of CRO services across pharmaceutical and medical device testing.
Global Toxicity Testing Outsourcing Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Method, GLP, End User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Method:
In vitro
In vivo
By GLP:
GLP
Non-GLP
By End User:
Pharmaceutical and Biopharmaceutical Companies
Academic and Research Institutes
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
