The Toxicology Drug Screening Market is expected to register a CAGR of 7.1% during the forecast period. In vitro, in vivo and in-silico are the different techniques to assess drug toxicity and to confirm the safety of the drug in the drug discovery and drug development process. Toxicity testing is slowly becoming proficient with various advanced technologies aiding the process and it is currently poised to take advantage of promising revolutions from the field of biotechnology and pharmaceuticals. Applications of toxicity testing are set to increase with advances in biotechnology, pharmaceuticals resulting in a demand for the same in the market. A number of emerging fields and techniques are contributing major new insights for understanding biologic responses to chemicals in human tissues. There is an increase in worldwide pharmaceutical research and development spending when compared to 2016, global research and development spending in 2017 surged by 3.9% to 165 USD billion an average research and development spending moderately increased to 20.9%. Increasing research and development activities, technological advancements in toxicology drug screening and a rise in demand for toxicology drug screening in the pharmaceutical and biotechnology industries are the key driving factors.
Scope of the Report
Toxicology screening is a set of diagnostic tests carried to evaluate the safety of potential drug candidates. Toxicology Drug Screening Market is segmented by Testing Type, Application, and Geography.
Key Market Trends
In-silico Segment is Expected to register Robust Growth in the Toxicology Drug Screening Market
- In silico methods which helps in identifying drug targets via bioinformatics tools and also used to analyze the target structures for generating candidate molecules, possible binding/ active sites, check for their drug-likeness and further optimize the molecules to improve binding characteristics.
- According to the Food Drug and Administration (FDA), in the year 2019, the growth rate of drugs in the pipeline was about 6%, when compared to the previous year with 2.7%.
- Currently, drug discovery has been revolutionized with the advent of proteomics, genomics, bioinformatics and efficient technologies like in silico ADMET screening and structure-based drug design, virtual screening, de novo design, etc which helps in detection of drug toxicology.
- In-silico segment holds a significant market share in the toxicology drug screening market and is anticipated to show robust growth over the forecast period.
- Increasing research and development activities, technological advancements in drug screening and a rise in demand for toxicology drug screening in the pharmaceutical and biotechnology industries are the key driving factors in the in-silico segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global toxicology drug screening market due to growing research and development activities to detect toxicity levels in the human body at early stages in this region. Many of the giants of the pharmaceutical industry are based out of the United States like Pfizer, Johnson and Johnson and Merck and Co. Furthermore, technical advancements and supportive government regulations have led to the rapid development of innovative and cost-effective testing and presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
The Toxicology Drug Screening Market is consolidated competitive and consists of a few global players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Abbott Laboratories, Agilent Technologies, Inc, Covance, Inc, Bio-Rad Laboratories, Inc, Eurofins Scientific, GE Healthcare, BioReliance, Inc, Thermo Fisher Scientific, Inc, Quest Diagnostics and Enzo Life Sciences, Inc.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support