In-Vitro Toxicology Testing Market is Expected to Reach USD 44.7 Billion by 2022

The global in-vitro toxicology testing market is expected to reach USD 44.7 billion by 2022 growing at an estimated CAGR of 10.5% from 2015 to 2022, according to a new report by Grand View Research, Inc. This expected rise in demand can be ascribed to novel and promising technologies in analytical laboratories. 

Advancement in bioinformatics based research for development of efficient software algorithms in order to carry out efficient stimulation of in-silico animal models in determination of toxicological response is expected to influence sector growth through to 2022. 

Furthermore, rapid up gradation of databases that serve information for toxicity profiling and lethal dose determination of different compounds is anticipated to create significant potential for growth in this market during the forecast period. 

Rise in government imposed restrictions and guidelines on usage of animals for pre-clinical research and toxicology testing is also attributive towards estimated progress in this industry.

Additionally, increasing R&D in biotechnology sector for enhancement in cell based assays and cell culture techniques, is anticipated to impart significant growth potential in this sector. 

North America In-vitro Toxicology Testing Market, By Technology 2012-2022 (USD Million)

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Further key findings from the study suggest:

• Pharmaceutical and cosmetic industry together accounted for almost 65% of total revenue generated in this sector for 2014. This large share can be attributed to rapid novel product launches for treatment of different diseased conditions wherein toxicological testing is the pre-requisite step. 

• Cell culture technology contributed for over 42% of the revenue generated in the industry with respect to technology owing to critical role of cell culture in biotechnological development and cell based analysis 

• Omics technology is anticipated to register lucrative growth thereby driving demand due to advancement in sequencing methods and availability of different platforms depending on source and target sequence. 

• As a fundamental process in biopharmaceutical or pharmaceutical product development toxicological testing finds application in determination of systemic, dermal, & ocular toxicity as well as endocrine disruption 

• Amongst the above enlisted applications, dermal toxicity is expected to witness significant progress with a CAGR of approximately 13% due to comparatively higher incidence of side effects associated with skin after administration of several compounds. 

• North America accounted for the largest share of over 45% in revenue in 2014 owing to presence of significant number of sector players that are implementing advanced in-vitro technology. Furthermore, presence of stringent regulations pertaining to animal usage in toxicity analysis attributive towards high demand of in-vitro tests in this region. 

• Asia Pacific is expected to witness lucrative CAGR of over 11% from 2015 to 2022 due to rapid improvement in health care infrastructure in developing economies of this region which in turn contributes to regional progress in industry. 

• Key participants of in-vitro toxicology testing industry are Quest Diagnostics, Covance, Cyprotex, Alere, Inc, Charles River Laboratories, GE Healthcare, Thermo Fisher Scientific, Eurofins Scientific, Inc., Agilent Technologies, Catalent Pharma Solutions, Sigma Aldrich, and Bio-Rad. 

• These participants are involved in collaborations with bioinformatics research firms in order to develop novel in-silico algorithms for computational estimation of toxicity of pharmaceutical and chemical products. 

• Moreover, these market entities are also focusing on entering untapped regions in order to maintain their share in market revenue. 

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Home Infusion Therapy Market is Expected to Reach USD 28.3 Billion by 2024

The global home infusion therapy market is expected to reach USD 28.3 billion by 2024, according to a new report by Grand View Research, Inc. The rising significance of cost-containment in home infusion in comparison with in-patient settings is a high-impact rendering driver of the home infusion therapy market. Moreover, long-term cost savings in the treatment of chronic diseases associated with the home infusion therapy is primarily driving the growth of the industry during the forecast period.

As per a study published in NCBI in 2011, a cost containment program targets cost reduction and study associated patient’s preference pattern changes towards home infusion therapy. As per this study, a short-term reduction of over USD 2,247 in costs was achieved and a reduction of long-term costs of over USD 10,424 too, illustrating that significant cost reductions can be achieved through the incorporation of home infusion therapy.

Moreover, the rising penetration rate of home and alternate site services as a consequence of high patient preference due to the high awareness & recognition of benefits associated with the aforementioned are presumed to propel the growth of home infusion therapy market over the forecast period. 

The rising number of product innovations and initiatives to improve the safety associated with home infusion therapy is anticipated to bolster the demand for home infusion therapy devices market. For instance, infusion pump connectivity plays a key role when used within home settings, which include remote programming and wireless capability in infusion pumps that reduces the overall costs and ensures the safety of the infusion process as this enables to the healthcare professionals to monitor the patient in home settings remotely.

North America home infusion therapy market share, by product, 2014 - 2024 (USD Million)

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Further key findings from the study suggest:

• On the basis of application, the anti-infective segment held a substantial share of the home infusion therapy market in terms of revenue of over 27.0% in 2015. Home-based infusion of anti-infective is increasingly preferred by patients suffering from chronic infections that cannot be properly treated through oral agents due to low absorption through GI tract. Within anti-infective, the IV push method is gaining popularity and is expected to experience growth in near future

• Needleless connectors are expected to witness a lucrative CAGR of over 9.0% over during the forecast period. This can be attributed to the rising demand for the safety of healthcare professionals as a result of the increasing number of cases of needle injuries, thus bolstering the growth for needleless connectors throughout the forecast period.

• Incorporation of Needlestick Safety and Prevention Act obligated Occupational Safety and Health Administration (OSHA) to elevate the standards, is expected to further accentuate the safety parameters thereby expected to boost the demand for needleless connectors over the forecast period

• North America dominated the regional market for home infusion therapy in 2015with a share of over 45.0% as a consequence of the presence of large geriatric population base with low mobility profile. The presence of supportive healthcare infrastructure, greater insurance coverage, and favorable reimbursement policies laid out by regulatory bodies are also inducing significant contributions towards industry growth in future.

• Asia Pacific is anticipated to emerge as a high growth market at a CAGR of over 10.5% overthe forecast period. The presence of large unmet needs in the emerging economies of Asia Pacific and growing initiatives over this region is impelling the growth for home infusion therapy. For instance, introduction of private healthcare establishments and nursing facilities with the advent of 12th Five Year Plan (2011-2015) in China. In addition, the increasing number of joint ventures between the U.S. health investors and Chinese senior care companies is expected to present the region with potential growth opportunities.

• Key players of home infusion therapy market include B. Braun Melsungen AG, Fresenius Kabi AG, Baxter, CareFusion Corporation and Hospira, Inc. Mergers & acquisitions, as well as, strategic collaborations with home infusion healthcare providers are the two key significant sustainability strategies employed by these prominent market participants. For instance, in February 2015, CareFusion renewed certifications for four separate patient care devices interoperability standards associated with its Alaris system smart infusion platform.

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