The Size of the Early Toxicity Testing Market in the Asia Pacific is expected to reach USD 158.51 million by 2027, increasing at a CAGR of 8.4% during the forecast period 2022 to 2027.
The early drug toxicity testing can help reduce the risk of drug side effects at later stages. As a result, there is an increased interest in early toxicology testing in drugs used to treat oncology and precision medicine. In addition, it has increased interest in research and development, which will help support the market's growth.
The main drivers of market growth are the pharmaceutical developments and increased stringency of regulatory authorities in public health welfare. In addition, advancements in vitro techniques increased the adoption of in vitro models in the early toxicity testing industry, and increased use of medicine is further driving the market growth. However, about 30% of drugs tested in clinical trials fail due to unforeseen and unacceptable toxicological profiles.
Early detection of toxicity during the preclinical phase can avoid high costs in clinical trials, saving R&D expenses and unnecessary exposure to toxic chemicals for healthy human volunteers participating in clinical trials. Therefore, companies involved in the drug development process and regulatory agencies focus on the early detection of the toxicity of chemicals.
According to the 2019 annual report, Roche incurred R&D spending of 12.7 billion Swiss francs, while Johnson and Johnson invested 12.36 billion for R&D. Additionally, advancements in better technologies related to early toxicity testing offer lucrative opportunities for market growth. For example, the study published in 2020 used organic 3D technology derived from stem cells and primary human cells to select a panel of drugs. Therefore, it gives the positive aspect of the early toxicity tests for the future.
The limited knowledge about the benefits of early toxicity testing and the lack of funds for preclinical testing are cited as hampering the growth of the APAC early toxicity testing market.
This research report on the Asia Pacific Early Toxicity Testing Market has been segmented and sub-segmented into the following categories.
Geographically, the APAC accounted for a significant share of the global early toxicity testing market in 2020 due to increased R&D linked to the discovery of various drugs and strict guidelines regulating the safety of chemicals used in a variety of products used by the public, especially in countries like China and India.
The India early toxicity testing market is expected to experience significant growth with a high CAGR of 6.9% during the forecast period. The increasing regulatory authorities in the region drive the development of the market. Additionally, early toxicity testing reduces the chances of drug failure in later phases of drug improvement, anticipating significant budget issues for organizations. Many international companies are focusing on the Indian market for the market's growth owing to a large population, evolving biopharmaceutical and healthcare industry, and promising research and development in the region.
The Chinese early toxicity testing market will hold the largest APAC early toxicity testing market. However, the regional market is expected to dominate during the predicted period. This market growth can be linked to the increased preference for technological development in this region due to the high-quality services, stringent ethical committees, and a skilled workforce.
In the Australian early toxicity testing market, market growth factors such as the straightforward and wide availability of toxicity testing devices and products increased awareness related to the toxicity of drug compounds, and favorable investments in R&D associated with healthcare will have a positive market growth rate years to come.
KEY MARKET PLAYERS
Top Companies dominating the Asia Pacific Early Toxicity Testing Market Profiled in the Report are Agilent Technologies, Sigma Aldrich, BD Biosciences, Bio-Rad, Gene Logic, Accelrys and Charles River Laboratories, Covance, Thermo Fisher Scientific, Quest Diagnostics Corporation.,
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