Calls to Eliminate Animal Testing to Translate to Strong Demand for In Vitro Toxicity Testing, says TMR
The key players in the global in vitro toxicity testing market are Charles River Laboratories International Inc., Covance Inc., Mattek Corporation, and Accelrys. Some of the emerging key players are Agilent Technologies, Caliper Life Science Inc., Life Technologies Corporation, and Molecular Discovery Ltd. The competition in the global in vitro toxicity testing market is intensified by the innovative product development that are centered on faster and accurate outcomes, reports Transparency Market Research (TMR) in a new study. “In the global in vitro toxicity testing market, the shares are scattered among several players. However, a fragmented market provides reduced entry barriers to the new entrants and enables them to make a mark with innovative technologies and establish themselves in the market,” says the author of the report. In recent years, there has been an increase in acquisitions of small companies by larger players to capture a wider consumer base. This trend is likely to make the in vitro toxicity testing market a more consolidated competitive arena in the long term. Browse Global Strategic Business Report: http://www.transparencymarketresearch.com/in-vitro-toxicity-testing-market.html Growing Preference for In Vitro Toxicity Testing Owing to Wide Range of Toxicity Pathways Offered There are three key factors positively influencing the growth of the global in vitro toxicity testing market. The rising ethical concerns over the use of animals for toxicity testing is one of them. “Various animal welfare associations and organizations have increased their efforts towards the elimination of toxicity testing on animals,” says a TMR analyst. Moreover, the animal testing is a tedious effort and involves high costs. These factors have encouraged pharmaceutical companies to eliminate animal testing and shift their focus to in vitro testing. Moreover, several governments have made regulatory bodies that are taking efforts to eliminate the inhumane animal testing. The regulatory bodies have started penalizing the labs involved in toxicity tests on animals. Furthermore, the in vitro toxicity testing covers a wide range of toxicity pathways at a very low concentration which is otherwise not possible in animal testing. These factors are promoting the adoption of in vitro toxicity testing, thereby boosting the growth of the global in vitro toxicity testing market.