Northbrook, IL -- (SBWIRE) -- 04/09/2021 -- According to the new market research report "In Vitro Toxicity Testing Market by Product (Assay (Western Blot, Tissue Culture),Equipment, Assay Reagent, Software), Toxicity Endpoints (ADME, Skin Irritation, Corrosion),Industry (Pharmaceutical, Cosmetics)-COVID-19 Impact - Global Forecast to 2025", published by MarketsandMarkets™.

COVID-19 Impact on Global In Vitro Toxicology Testing Market;

According to our findings, the in vitro toxicology market is expected to grow at an approximately CAGR of 9.0%-11.0% for next two years. According to our analysis, the below factors are playing a key role in shaping the growth of the global market;

- With the increase in demand for faster testing and research being conducted in the field, the demand for in vitro toxicology technologies has also increased, especially diagnostic assays and PCR. The FDA has approved various in vitro diagnostic kits such as In vitro diagnostic assays and PCR testing panels and drugs for emergency use in COVID -19 testing and diagnostics.

- The outbreak of COVID-19 has been increasing at an exponential level in the US. This has led to a decline in regular patient visits to hospitals and clinics and has also led to a decline in the number of profiling studies being conducted under normal circumstances. This is expected to inhibit market growth to a certain extent.

- Due to the rapid spread of COVID-19, the medical supplies and equipment are at the risk of supply shortage, due to the temporary lockdown of manufacturing sites in areas affected by COVID-19 or travel restrictions impacting shipments. Beyond transportation-related delays arising from travel restrictions and some driver shortage issues, COVID-19 hasn't hugely impacted supplies of raw materials for in vitro toxicology technologies.

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Growth Driver: Opposition to animal testing;

Animal testing is a highly time-consuming process and involves high costs and immense safety risks for the animals involved. Working with rodent and rabbit models also increases the risk of zoonotic diseases. In 2004, the European Union passed legislation that prohibited the testing of finished cosmetic products on animals. It would be followed by a ban on testing cosmetic ingredients on animals in the European Union in 2009. This was further amended by forbidding the marketing of cosmetic products tested on animals. Complex toxicological endpoints, such as repeated-dose toxicity, reproductive toxicity, and toxicokinetics, were exempted from this ban.

Geographical Scenario in Depth:

The in vitro toxicology testing market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period. This is due to the emergence of CROs for outsourcing toxicology-related research projects, opposition to animal testing resulting in the use of alternate methods, increasing pharmaceutical drug pipeline, and growing consumer awareness of product safety, all of which are driving adoption of in vitro toxicology testing in the Asia Pacific.

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Key Market Players;

The prominent players in the in vitro toxicology testing market include Thermo Fisher Scientific Inc. (US), Covance (US), Bio-Rad Laboratories, Inc. (US), GE Healthcare (US), Eurofins Scientific SE (Luxembourg), Merck KGaA (Germany), Charles River Laboratories International, Inc. (US), Catalent, Inc. (US), Cyprotex (UK), SGS S.A. (Switzerland), QIAGEN N.V. (Germany), Promega Corporation (US), Gentronix Limited (UK), BioIVT (US), and MB Research Laboratories (US).