In Vitro Toxicology Testing Market Size, Share & Growth Trends

Healthcarenews18 Apr, 2024Business

The in vitro toxicology testing market is projected to reach USD 17.1 billion by 2028, from USD 10.8 billion in 2023. This growth is driven by a compound annual growth rate (CAGR) of 9.5% during the forecast period. Fueled by technological advancements in assays and equipment, as well as increasing R&D expenditure for early-stage toxicity studies in drug development. Additionally, the adoption of in vitro testing is being propelled by stringent regulations that seek to minimize animal testing. This has prompted industries such as pharmaceuticals and cosmetics to shift towards in vitro methods for product testing. However, market growth faces a hurdle in the form of regulatory reluctance to fully accept safety and efficacy data from non-animal methods.