Industry: Healthcare | Publish Date: 24-Aug-2023 | No of Pages: 93 | No. of Tables: 83 | No. of Figures: 32 | Format: PDF | Report Code : N/A
Finland Early Toxicity Testing Market was valued at USD 5.27 million in 2022, and is predicted to reach USD 33.29 million by 2030, with a CAGR of 20.8% from 2023 to 2030.
Early toxicity testing serves as a crucial step in the evaluation of potential drugs, chemicals, or substances, aiming to detect and assess any harmful effects or toxicity during their initial stages of development. This assessment, usually carried out using in vitro methods or animal models, takes place before any experimentation on humans.
The primary goal of early toxicity testing is to promptly identify any safety concerns associated with a substance, enabling well-informed determinations regarding its viability for further advancement and subsequent trials.
Engaging in early toxicity testing helps reduce the potential for harmful outcomes in both human participants and animals throughout clinical trials. This not only minimizes costs but also saves time in the broader course of drug development.
This complex procedure involves a wide range of analyses and tests, including evaluations of cell viability, assessments of genotoxicity, and investigations into pharmacokinetics.
The specific modalities employed are contingent on the intrinsic nature of the substance under scrutiny and its intended application.
Recognized as an indispensable phase within the drug development journey, early toxicity testing profoundly bolsters the assurance of safety and efficacy for novel drugs and other substances before their regulatory endorsement for human utilization.
The surging demand for early toxicity testing in Finland can be attributed to several significant factors, prominently driven by the expanding geriatric population. As the elderly demographic continues to grow, so does the prevalence of various diseases and health conditions that commonly affect this age group.
The geriatric population is particularly vulnerable to a range of ailments, including chronic diseases and age-related disorders, which necessitates a comprehensive approach to healthcare and treatment.
For instance, according to a report published by the World Bank in 2021, about 24% of the population in Finland is above the age of 65, and the number is expected to grow in the future.
The rise in government investments for the development of the healthcare sector by establishing new R&D laboratories, clinics, and medical facilities in Finland is further expected to drive the growth of the market.
For instance, in July 2022, the government of Finland established the National Drug Development Centre in Turku, Finland. Its focus was on early-phase drug development, including preclinical studies and collaboration with pharmaceutical companies and to promote the use of early toxicity testing technologies and methodologies. Hence, such factors propel the ETT market growth within the country.
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 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 the 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 Finland 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 Finland early toxicity testing market report provides a quantitative analysis of the current market and estimations through 2023-2030 that assists in identifying the prevailing industry 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 Finland 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 5.27 Million |
Revenue Forecast in 2030 |
USD 33.29 Million |
Growth Rate |
CAGR of 20.8% from 2023 to 2030 |
Analysis Period |
2022–2030 |
Base Year Considered |
2022 |
Forecast Period |
2023–2030 |
Market Size Estimation |
Million (USD) |
Growth Factors |
Expanding elderly population requiring treatment. Growing government 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.