Global Toxicology Testing Market 2017-2021
About Toxicology Testing
Toxicology testing is the study of adverse effects of chemical substances on living organisms. Exposure to toxic chemical substances which are usually present in everything whether manmade or natural may affect living organisms; the effects include disruption of growth patterns, discomfort, diseases, or death. Toxicity testing of new compounds is vital for drug development. The test identifies the potential toxicity of drugs at an early stage of its development, which helps in saving both developmental costs and time, and also reduces the possibility of failure at late stage.
Technavio’s analysts forecast the global toxicology testing market to grow at a CAGR of 11.67% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global toxicology testing market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of toxicology testing products such as assays, services, and reagents.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Toxicology Testing Market 2017-2021
Technavio recognizes the following companies as the key players in the global toxicology testing market: Agilent Technologies, Bio-Rad Laboratories, GE Healthcare, and Thermo Fisher Scientific
Other Prominent Vendors in the market are: Alere, Charles River Laboratories, CiToxLAB, Covance, Cyprotex, Eurofins Scientific, MB Research Laboratories, Merck, Product Safety Labs, and Quest Diagnostics.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing use of in silico technologies. In silico approaches are referred to as performing scientific experiments or research by means of computer simulation and software. The adoption of in silico approaches for depicting chemicals and its potential adverse effects is increasing. The researchers and professionals are interested in the appropriate use of such technologies as a tool to enhance product development and safety of pharmaceuticals and other xenobiotics.”
According to the report, one of the major drivers for this market is Rise in toxicology testing in food industry. The food industry has continually made improvement in safety testing methods, particularly focusing on microbial contaminants. The rapidly growing use of food additives, food contact substance development, and changing weather conditions has increased the need to explore the use of high-throughput chemical toxicology testing approaches for food safety as they are hazardous.
Further, the report states that one of the major factors hindering the growth of this market is Lack of skilled professionals. The use of toxicology testing is increasing at a rapid rate. A major challenge in these scientific fields is the lack of technically skilled and trained staff i.e., toxicologists. Toxicology testing is often complex and requires sophisticated techniques and instruments for various analysis procedures. The most important component in biopharmaceutical, university, and forensic science is the professional scientific staff. The minimum requirement skills are usually gained by formal education, training, and operational (on-the-job) experience.
Agilent Technologies, Bio-Rad Laboratories, GE Healthcare, Thermo Fisher Scientific, Alere, Charles River Laboratories, CiToxLAB, Covance, Cyprotex, Eurofins Scientific, MB Research Laboratories, Merck, Product Safety Labs, and Quest Diagnostics.
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