Toxicity testing is a scientific analysis to identify the potential toxicity of new compounds at an early stage during drug discovery and development process. This early detection of toxicity reduces the development cost and time in pharmaceutical, food and other industries. There are various kinds of tests which are useful to check if the entity has toxic potentials like genotoxicity, carcinogenicity, neurotoxicity, and systemic toxicity. These toxicity tests are important for the welfare of human health and environment. Toxicity Testing are performed in in-vivo, in-vitro, and in-silico techniques.
Europe Early Toxicity Testing Market size was around USD 199.98 Million in 2018. It is expected to grow at a CAGR of 7.93% to reach USD 292.89 Million by 2023.
Drivers and Restraints:
Increasing R&D activities for in vitro toxicity testing, adoption of technology advancements in bio technology and pharmaceuticals industry, increasing awareness among regulatory authorities, for the welfare of environment and human health, rising funds by government for toxicity testing, growing demand for early toxicity testing. However stringent government rules and high cost for testing are hindering the growth of the market.
The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. The market in this region is projected to grow strongly during the forecast period due to various factors such as growing awareness and favorable reimbursement policies.
Major companies in the market are Covance, Thermo Fisher Scientifics, Quest Diagnostics Corporation, Agilent Technologies, Sigma Aldrich, BD Biosciences, Bio-Rad, Gene Logic, Accelrys and Charles River Laboratories.
Scope of the report:
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