The GlobalIn Vivo Toxicology Marketis expected to grow at a CAGR of 6.9% during the forecast period to reach USD 6.14 Billion.
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™.
Some key factors driving market growth are the increasing pharmaceutical R&D activities, mandatory government regulations for animal testing, innovations in animal models, and the development of exclusive in vivo toxicology tests. Factors such as increasing research in oncology and personalized medicine and the rising demand for humanized animal models are expected to offer lucrative opportunities for players in the global market.
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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
- To forecast the size of market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East Africa
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 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.
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The US is estimated to account for the largest share of the market, followed by Germany and the UK. However, China is expected to grow at the highest CAGR during the forecast period. Factors such as rising R&D funding and collaborations; initiatives by the Chinese government to promote life science research; and the strong trend of commercialization of biotechnology research are contributing to the growth of the market in China.
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).