Thermo Fisher Scientific Inc. (US) and Merck KGaA (Germany), are the leading players in the In Vitro Toxicology Testing Market
The global in vitro toxicology testing market size is projected to reach USD 18.6 billion by 2027 from USD 11.2 billion in 2022, growing at a CAGR of 10.8%. The primary growth factors such as increasing R&D expenditure to detect toxicity at an early stage during drug development drive the market. Also, the increasing focus of the pharmaceutical and cosmetics industries on using in vitro methods are expected to offer significant opportunities for market growth in the coming years.
Thermo Fisher Scientific Inc. (US), Laboratory Corporation of America Holdings (US), Bio-Rad Laboratories, Inc. (US), General Electric Company (US), Eurofins Scientific (Luxembourg), Merck KGaA (Germany), Charles River Laboratories International, Inc. (US), Catalent, Inc. (US), Evotec (UK), SGS S.A. (Switzerland), QIAGEN (Germany), Promega Corporation (US), Gentronix Limited (UK), BioIVT (US), and MB Research Laboratories (US) are some key players in this market. These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, acquisitions, and expansions.
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Thermo Fisher Scientific was one of the leading players in the in vitro toxicology testing market in 2021. The company is a global manufacturer of laboratory equipments, analytical instruments, consumables, services and reagents for the in vitro toxicology testing market. The company operates from Life Science Business segment in In vitro toxicity testing market. The company has a significant global footprint owing to its strong sales and distribution network.
Merck is a leading science and technology company with a strong global presence in more than 120 countries. The company operates from life science segment in In vitro toxicology market. The company has a wide costumer base which supports company’s portfolio of life science products. The company majorly focuses on geographical expansions to increase its costomer base.
Related Reports:
In Vitro Toxicology Testing Market by Product (Assays (Western Blot, Tissue Culture), Equipment, Consumables, Software), Toxicity Endpoints (ADME, Skin Irritation, Cytotoxicity), Technology, Method, Industry (Pharma,Biotech) - Global Forecast to 2027
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