Global Toxicology Testing Market 2017-2021

This industry research report identifies Agilent Technologies, Bio-Rad Laboratories, GE Healthcare, and Thermo Fisher Scientific as the key vendors in the global toxicology testing market. This industry research report also presents a comprehensive analysis of the market by end user (pharmaceutical industry, food industry, and others) and by geography (the Americas, APAC, and EMEA).

Overview of the global toxicology testing market

Technavio’s market study identifies the regular use of toxicology testing in pharmaceutical and biotechnology industries to be one of the primary growth factors for the toxicology testing market. Increasing number of pharmaceutical and biotechnology companies are being set up to cater to the growing population and their demand for new drug therapies. Toxicology testing is carried out to prevent late-stage failures in the discoveries of the chemicals used. Additionally, this test checks the appropriate balance of potency, efficacy, safety, and favorable pharmacokinetics of the drug, to ensure it is safe. Our market research analysts estimate that the toxicology tests market will grow steadily at a CAGR of about 12% by 2021.

Laboratories in the US are increasingly adopting automation to cater to the growing demand for quality and error-free results. Automated systems provide effective workflow solutions by reducing time and workforce, and cater to the influx of patients with insurance coverage. The increasing automation of toxicology screening is identified to be one of the key trends contributing towards the growth of the toxicology testing market. Pharmaceutical industries and laboratories are increasingly adopting automation systems, influenced by the advances in technologies, that result in an increased efficiency and speed for developing vigorous and extremely productive results.

Competitive landscape and key vendors

The toxicology testing market is fragmented owing to the presence of several international, regional, and local vendors. Key players in this market account for major market shares in terms of quality, price, market reach, and financial resources. Intense competition among the players on basis of factors such as price, availability, brand, and variety, results in the development of innovation products. M&A and new entrants are prevalent, influenced by the high growth potential of the toxicology tests market.

The leading vendors in the market are

• Agilent Technologies
• Bio-Rad Laboratories
• GE Healthcare
• Thermo Fisher Scientific

The 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.

Segmentation by end user and analysis of the toxicology testing market

• Pharmaceutical industry
• Food industry

In the pharmaceutical industry, toxicology testing is prominently used in clinical research and post-marketing effects of drug. The pharmaceutical industries are producing high quantities of new drugs and personalized medicines, influenced by the rising incidences of chronic disorders. This will consequently demand the need for toxicology tests.

Geographical segmentation and analysis of the toxicology testing market

• Americas
• APAC
• EMEA

In the Americas, US and Canada will be the major revenue contributor to the toxicology testing market. The biotechnology and pharmaceutical industries in these regions are adopting toxicity testing techniques supported by the healthcare expenditure and increasing emphasis on the development of new and prominent drug assessment techniques.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global toxicology testing market?
• What are the key market trends impacting the growth of the global toxicology testing market?
• What are the challenges to market growth?
• Who are the key vendors in the global toxicology testing market?
• What are the market opportunities and threats faced by the vendors in the global toxicology testing market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global toxicology testing market?

Technavio also offers customization on reports based on specific client requirement.