Industry: Healthcare | Publish Date: 03-Dec-2024 | No of Pages: 93 | No. of Tables: 83 | No. of Figures: 32 | Format: PDF | Report Code : HC754
Australia Early Toxicity Testing Market was valued at USD 63.74 million in 2022, and is predicted to reach USD 151.77 million by 2030, with a CAGR of 9.71% from 2023 to 2030.
Early toxicity testing is a crucial procedure that entails the assessment of potential harmful effects or toxicity associated with drugs, chemicals, or other substances during their initial developmental stages.
This evaluation is commonly conducted using in vitro studies (in controlled environments outside living organisms) or through animal models before progressing to human trials.
The primary objective of early toxicity testing is to detect any safety-related issues linked to a substance, determining its suitability for further development and testing.
By conducting these tests upfront, the potential risks to both humans and animals in subsequent clinical trials can be minimized, leading to cost and time savings in the drug development process.
The range of assessments encompasses various examinations, including cell viability assays, genotoxicity evaluations, and studies on how the substance is processed within the body (pharmacokinetics). The selection of specific tests and methodologies is contingent on the substance's nature and its intended application.
Overall, early toxicity testing stands as a pivotal stride in the drug development trajectory, ensuring the safety and effectiveness of emerging drugs and substances before attaining approval for human use.
The government of Australia funds two main programs, the Medical Research Future Fund (MRFF) and the National Health and Medical Research Council (NHMRC) for medical research and healthcare advancements, which propels the growth of the early toxicity testing market in the country.
The MRFF and NHMRC provide significant funding for innovative research and clinical trials, which enable the development of new medical treatments, technologies, and interventions to improve patient outcomes.
For instance, in 2021 the government allocated USD 500 million over 10 years to the Genomics Health Futures Mission from the Medical Research Future Fund. The mission aims to improve lives of Australians through accelerated research, adoption of new interventions, and consolidating leadership in genomics.
The growth in investments in biomedical and clinical sciences in Australia indicates a significant focus on improving the nation's healthcare system.
According to the Australia Bureau of Statistics, Australia spends around USD 2,190 million in biomedical and clinical sciences in 2019–2020. This emphasis on funding has the potential to drive innovation, support research, and development in the biomedical field, and enhance capabilities in the clinical sector.
Early toxicity testing plays a crucial role in ensuring the safety of these compounds before they are commercialized, thus it is driving the growth of the early toxicity testing market in Australia.
However, strict guidelines established by regulatory agencies like the US FDA and the EMA necessitate extensive and exacting testing for medication development and safety, which can be costly and time-consuming and impede market expansion.
Small and medium-sized businesses that may lack the means to conduct thorough testing may find it difficult and expensive to comply with these rules.
Because of this, some businesses might decide to postpone or scrap drug development initiatives, which could reduce the market for early toxicity testing services.
Furthermore, strict rules may lead to a protracted approval procedure for new pharmaceuticals, which would add to the delay in the time it takes for drugs to reach the market. This, in turn, is expected to hamper the growth of the ETT market.
The introduction of new technologies such as in-vitro modelling using 3D cell culture is expected to provide new lucrative opportunities for the early toxicity testing market during the forecast period.
The use of 3D cell cultures can better mimic the complexity of tissues and organs, providing more accurate and reliable results for toxicity testing. Traditional 2D cell culture models are limited in their ability to mimic complexity of human tissues and organs, often leading to inaccurate and unreliable results in toxicity testing.
However, the use of 3D cell culture models can better mimic the structural and functional complexity of tissues and organs, providing more accurate and reliable results for toxicity testing.
3D cell cultures allow the growth and interaction of multiple cell types, creating a microenvironment that more closely resembles human tissues and organs. This can better predict the toxic effects of drugs and chemicals in the human body, reducing the risk of adverse effects in clinical trials. Hence, such factors propel the market growth.
The Australia early toxicity testing industry includes several market players such as Inotiv Inc., Bio-Rad Laboratories Inc, Evotec A.G., Agilent Technologies Inc, Wuxi Apptec, Bruker, Perkinelmer Inc., Enzo Biochem Inc., Danaher Corporation, Eurofins Scientific SE, Charles River Laboratories International, Inc., Labcorp Drug Development., Promega Corporation, Insphero AG. and Thermo Fisher Scientific Inc.
The Australia early toxicity testing market report provides a quantitative analysis of the current market and estimations through 2023-2030 that assists in identifying the prevailing market opportunities to capitalize on.
The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.
The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.
The competitive analysis of the key players along with their market share in the Australia Early Toxicity Testing market.
The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
In Vivo
In Vitro
Cell Culture
PCR
ELISA
Western Blotting
Protein Binding Assays
In Silico
Genotoxicity
Dermal Toxicity
Skin Toxicity
Ocular Toxicity
Phototoxicity
Others
Pharmaceutical Industry
Cosmetic Industry
Chemical Industry
Food Industry
Others
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2022 |
USD 63.74 Million |
Revenue Forecast in 2030 |
USD 151.77 Million |
Growth Rate |
CAGR of 9.71% from 2023 to 2030 |
Analysis Period |
2022–2030 |
Base Year Considered |
2022 |
Forecast Period |
2023–2030 |
Market Size Estimation |
Million (USD) |
Growth Factors |
Increasing biomedical and clinical sciences investments. The rising government-backed initiatives. |
Companies Profiled |
15 |
Market Share |
Available for 15 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
Inotiv Inc.
Bio-Rad Laboratories Inc
Evotec A.G.
Agilent Technologies Inc
Wuxi Apptec
Bruker
Perkinelmer Inc.
Enzo Biochem Inc.
Danaher Corporation
Eurofins Scientific SE
Charles River Laboratories International, Inc.
Labcorp Drug Development.
Promega Corporation
Insphero AG
Thermo Fisher Scientific Inc.