What is Toxicology Testing Services Market Scope?
Toxicological studies evaluate the substances to determine whether they are harmless to humans and do not change the environment. Due to the lack of robust clinical data, laboratory animal research is the most trusted way to discover the significant toxic properties of drug candidates and chemicals and to assess the potential risks to human and environmental health. Toxicological tests are the key method for determining the safety of test products that are intended to benefit humans, directly or indirectly. Toxicity test laboratories have various high-tech research facilities and experts that perform animal toxicity tests, toxicology tests, toxicology services for a range of substances, and formulated products. Safety assessment and efficacy testing are a mandatory process for industries such as chemicals, pesticides, cosmetics, consumer products, pharmaceuticals, vaccines, and medical devices. Ethical issues and pressures from animal activist groups regarding the use of animals for testing, banning animal testing of cosmetic products, helping regulators to approve in vitro tests, and discrepancies in vivo test results due to differences between species are some of the key factors in the growth of the In Vitro Toxicology Testing market.
The Toxicology Testing Services market study is being classified by Type (In Vivo Method, In Vitro Method and In Silico Method), by Application (Pharmaceutical & Biotechnology, Cosmetic, Chemical, Medical Devices and Others) and major geographies with country level break-up.
In Toxicology Testing Services Market, it has been observed that most of the companies are upgrading or introducing innovative products. They rely on strategies such as mergers & acquisitions, product development, geographical expansions, technological innovation, and sourcing strategies to enhance their market share. Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global Toxicology Testing Services market throughout the predicted period.
LabCorp (United States), Charles River Laboratories (United States), Eurofins Scientific (Luxembourg), Bureau Veritas (France), Envigo (United States), Evotec AG (Germany), Merck & Co. (United States), SGS Group (Switzerland), Pharmaceutical Product Development (PPD) (United States) and WuXi AppTec (China) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Toxicology Testing Services market by Type, Application and Region.
On the basis of geography, the market of Toxicology Testing Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
U.S. FDA is likely to impact the direction of innovations carried out. For instance, some departments of the FDA have asked companies to conduct toxicology testing on animals experiencing the same disease state as humans, so as to draw a clear line between real-time results of the close situation and of results from normal animals.
Influencing Market Trend
- Rise in Consumer Awareness about Safety Associated With the Use of Health Care and Cosmetic Products
- Increase in Concern of Toxicological Effects of Agricultural Products on Food and Environment
- Increase in Demand for Detection of Toxicity of Products during Their Early Stages of Development
- A Rise in R&D Expenditure
- The Growing Need for Newer Therapies for a Number of Conditions
- Growing Preference for Outsourcing of Toxicological Studies to Contract Research Organizations
- Increased Funding From Governments and Research Institutes
- Increased Investments in the Discovery of Newer Technologies for Toxicity Testing
- The Emergence of Technologies, Such As Predictive Toxicology Testing Services
- Stringent Regulations Associated With Toxicology Testing
- Lack of Skilled Expertise and Software
Key Target AudienceVenture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Natural and Organic Cosmetics Providers, Raw Material Suppliers and Government Regulatory and Research Organizations
Customization available in this Study:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research & Media features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.