The Latin America, Middle East and Africa In Vitro Toxicity Testing Market would witness market growth of 13.9% CAGR during the forecast period (2022-2028).
In-vitro toxicology tests for evaluating drug product safety, along with the evaluation of the possible effect of medicines on cells and tissues, are expected to boost revenue growth in the market. Companies have diversified their portfolios to meet competition in the market for in-vitro toxicology testing, as the demand for such tests has grown.
Even though the in vitro toxicity business is relatively new, it has a lot of potential for further development. This industry would be dominated by technological advancements and the introduction of new products. The absence of pharmaceutical powerhouses in this sector provides a better opportunity for newcomers to position themselves in the market. As a result, a corporation planning to spend can enter this expanding market and be successful, as the market has a lot of room for new competitors.
In Brazil the Guidance for Safety Assessment of Cosmetic Products has been updated to provide criteria for evaluating the safety of cosmetics sold in Brazil as well as information on testing methods. The Guideline does not mandate any specific test for skin sensitivity assessment, however, it does recommend the LLNA. The GPMT, the Buehler test, and clinical studies like the human repeat shock physical exam are all covered.
In Brazil, a risk evaluation is required before cosmetic compounds can be classified as skin sensitizers or nonsensitizers. Alternative approaches are accepted, subject to the limits of each technique and their regulatory implications. In silico methodologies, such as structure-activity relationships, are, for example, accepted when utilized as a part of integrated testing and assessment procedures.
The UAE government wants to enhance healthcare funding so that more data monitoring tools can be used for proactive COVID contact tracking and virtual healthcare service providers can be licensed. The government also intends to strengthen national capacities to combat future pandemics, including initiatives to create vaccines and medications, as well as digital immunization IDs and a new supply chain strategy. The Ministry of Health wants to grow the sector by putting more emphasis on health information technology, such as telehealth and digital medicine.
The Brazil market dominated the LAMEA In Vitro Toxicity Testing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $763.1 Million by 2028. The Argentina market is poised to grow at a CAGR of 14.5% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 13.6% during (2022 - 2028).
Based on Type, the market is segmented into Absorption, Toxic Substances, and Dose. Based on Technology, the market is segmented into Cell Culture Technologies, High Throughput Technologies, and Toxicogenomics. Based on End User, the market is segmented into Cosmetics & Households Products, Pharmaceuticals Industry, Food Industry, Chemicals, and Industry. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global In Vitro Toxicity Testing Market is Predict to reach $37.5 Billion by 2028, at a CAGR of 10.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., General Electric (GE) Co., AstraZeneca PLC, Catalent, Inc., Laboratory Corporation of America Holdings, Acacia Pharma Group Plc, GlaxoSmithKline PLC, Helsinn Healthcare SA., and Heron Therapeutics, Inc.
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