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 for the market growth.
Key Market Trends
In-silico Segment is Expected to register Robust Growth in the Toxicology Drug Screening Market
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. 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.
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 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.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Research and Development Activities
4.2.2 Technological Advancements in Toxicology Drug Screening
4.2.3 Rise in Demand for Toxicology Drug Screening in the Pharmaceutical and Biotechnology industries
4.3 Market Restraints
4.3.1 Longer Time for Sample Testing
4.3.2 Regulatory Issues Regarding Approval of Healthcare Molecule
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Testing Type
5.1.1 In vitro
5.1.2 In vivo
5.1.3 In silico
5.2 By Application
5.2.3 Developmental and Reproductive Toxicity (DART)
5.2.4 Endocrine Disruption
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Agilent Technologies, Inc
6.1.3 Covance, Inc (LabCorp)
6.1.4 Bio-Rad Laboratories, Inc.
6.1.5 Eurofins Scientific
6.1.6 GE Healthcare
6.1.7 BioReliance, Inc. (Sigma-Aldrich)
6.1.8 Thermo Fisher Scientific, Inc
6.1.9 Quest Diagnostics
6.1.10 Enzo Life Sciences, Inc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.