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3. Thermo Fisher Scientific Inc. (US) and Agilent Technologies, Inc. (US) are Leading Players in the In Vitro Toxicology Testing Market

The In vitro toxicology testing market is projected to reach USD 17.1 billion by 2028 from an estimated USD 10.8 billion in 2023, at a CAGR of 9.5% during the forecast period. The major factors driving the growth of this in vitro toxicology testing include the public opposition to animal testing, the emergence of promising new toxicology testing technologies, and increased research and development investment for early toxicity detection.

The global In vitro toxicology testing market is competitive with top players such as Thermo Fisher Scientific Inc. (US), Agilent Technologies, Inc. (US), Merck KGaA (Germany), and Laboratory Corporation of America Holdings (US) . The market players have adopted various strategies such as new product/service launches, acquisitions, agreements, collaborations, and geographical expansions to strengthen their position in the global in vitro toxicology testing market.

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Thermo Fisher Scientific Inc. (US)

Thermo Fisher Scientific is a leading player in the In vitro toxicology testing market. The company is a global manufacturer of analytical instruments, laboratory equipment, software, consumables, reagents, and services for the in vitro toxicology testing market. It focuses on acquiring new consumers through partnerships, collaborations and expansions in emerging markets like China, India, and South Korea. The company also explores strategic agreements with academic institutes, as these institutes conduct research studies that make use of in vitro techniques. For instance, in March 2023, Thermo Fisher Scientific collaborated with King’s Forensics (UK). With the help of this partnership, researchers at King’s Forensics got access to the latest and best tools to help them with their studies on drug toxicity.

Agilent Technologies, Inc. (US)

Agilent Technologies is a global leader in the life sciences, diagnostics, and applied chemical markets. The company provides analytical instruments, software, services, and consumables to customers in the pharmaceutical, biotechnology, academic, and government industries. The launch of new instruments and software and expansion helped Agilent Technologies gain market share in the in vitro toxicology testing market. For instance, in 2022, Agilent Technologies invested around USD 20 million to expand its manufacturing facility in Shanghai, responding to the increasing demand in China for the company’s advanced liquid chromatography (LC) spectrometer and mass spectroscopy (MS) systems. This helped Agilent to increase its global presence in the market and meet the growing demand for its products in emerging markets.

Merck KGaA (Germany)

Merck is a leading science and technology company with a strong global presence in more than 120 countries. The company has a portfolio of more than 300,000 life science products that support a broad customer base. Merck majorly focuses on expansions in key geographies to increase its customer base. For instance, in June 2022, the company planned to open a 220,000-square-foot Discovery Center in London for discovery, research, and clinical purposes. In the last three years, the firm opened life science centers in China, India, South Korea, and Singapore to facilitate the supply of its products in the region. For instance, in September 2022, Merck inaugurated its Healthcare Research and Development Center in Bengaluru.

Related Reports:

In Vitro Toxicology Testing Market by Product & Service (Assays (ELISA & Western Blot), Equipment, Consumable, Software), Toxicity Endpoints (ADME, Genotoxicity, Cytotoxicity), Technology, Method, Industry (Pharma, Cosmetics) - Global Forecast to 2028

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