Transparency Market Research (TMR) has published a new report titled,
“Global Toxicology Testing Services Market Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”.
According to the report, the global toxicology testing services
market is projected to reach over US$ 15 Bn by 2025 expanding at
considerable CAGR from 2018 to 2026.
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North America is expected to dominate the global market due to the
presence of a large number of companies involved in new drug
discovery and development activities, stringent regulations by FDA
regarding toxicological screening of drugs before entering into human
trials, increase in trust and expertise of CROs providing toxicology
testing services leading to increase in outsourcing of preclinical
procedures, and rise in R&D expenditure of leading companies
involved in drug discovery and development process.
In silico toxicology testing methods segment is expected to expand
at rapid pace
The report offers detailed segmentation of the global toxicology
testing services market based on method and industry type. In terms
of method, the market has been segmented into in vivo method, in
vitro method, and in silico toxicology testing methods. The in vitro
and in silico methods are considered as new approaches to reduce
animal use in discovery activities. Thus, these two segments are
anticipated to expand at a significantly high growth rate by 2026.
These new approaches are considered as reliable, reproducible,
faster, and economical options for safety assessment.
Pharmaceutical
and biotechnology industries accounted for a major share of the
global toxicology testing services market in 2017
Outsourcing of R&D activities to contract research organizations
is increasing due to the rise in the number of CROs offering huge
portfolio of toxicology testing services at reasonable price.
Moreover, these CROs have expertise in this particular areas, which
hastens the drug development process, thus benefiting these
industries to achieve leading market place in various therapeutic
areas. Moreover, due to outsourcing of toxicology studies, these
industries are able to focus on their abilities and they accordingly
manage their R&D cost. These factors are projected to drive the
pharmaceutical and biotechnology companies segment of the global
toxicology testing services market.
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Market in Asia Pacific is expected to expand at a high CAGR during
the forecast period
Expansion of the footprint of leading service providers in Asia
Pacific to cover leading players involved in the drug discovery and
developments, growing collaborations among drug discovery industries
with CROs, and increasing awareness among the consumers in this
region regarding toxicity caused by various chemicals, and changing
regulatory requirements of the government agencies operating in this
region are the factors expected to boost growth of the global
toxicology testing services market in Asia Pacific region from
2018-2026.
For instance, in July 2017, Eurofins Scientific, a global leader in
bio-pharmaceutical product testing services announced acquisition of
Advinus Therapeuticsm, an India-based company engaged in preclinical
and clinical phase contract research companies such as Safety
Assessment, DMPK, CMC services, and Analytical R&D Services.
Competitive Landscape:
Major players operating in the global toxicology testing services
market include Laboratory Corporation of America Holdings, Charles
River Laboratories, Inc., Eurofins Scientific, Bureau Veritas,
Envigo, Evotec AG, Merck KGaA, SGS Group, Pharmaceutical Product
Development, LLC (PPD), and WuXi AppTec.
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