Industry: Healthcare | Publish Date: 04-Dec-2024 | No of Pages: 93 | No. of Tables: 83 | No. of Figures: 32 | Format: PDF | Report Code : HC767
The Singapore Early Toxicity Testing Market was valued at USD 87.22 million in 2022 and is predicted to reach USD 166.12 million by 2030, with a CAGR of 7.2% 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 growing pharmaceutical industry along with companies developing new and innovative drugs in the country is propelling the growth of the early toxicity testing market. For instance, in January 2023, GeneOnline, received approval from the US FDA to progress into first-in-human trials with their first made-in-Singapore antibody-drug conjugate (ADC), GO-004. The drug is designed to target cancer cells while sparing healthy cells, potentially reducing side effects compared to traditional chemotherapy. The clinical trials will evaluate the safety and efficacy of GO-004 in patients with advanced solid tumors.
Singapore has a thriving pharmaceutical industry, with many multinational companies establishing their presence in the country. These companies are involved in the development and production of drugs for a range of diseases, including cancer, diabetes, and cardiovascular diseases.
For instance, in July 2021, WuXi Bio committed a substantial investment of $1.4 billion towards research and development, as well as the expansion of large-scale drug substance and drug product manufacturing in Singapore over the next decade. This strategic decision is in harmony with the company's worldwide vision and complements its collaborative efforts across multiple nations. This initiative further reinforces Singapore's position as a burgeoning focal point for pharmaceutical advancement and growth.
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 modeling 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 Singapore 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 Singapore early toxicity testing market report provides a quantitative analysis of the market estimations throughout 2023-2030 that assists in identifying the prevailing market opportunities to capitalize on.
The study comprises a deep dive analysis of the current and future Singapore early toxicity testing market trends, 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 market players along with their market share in the Singapore early toxicity testing industry, is mentioned.
The SWOT analysis and Porter’s Five Forces model are elaborated on 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
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.
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2022 |
USD 87.22 Million |
Revenue Forecast in 2030 |
USD 166.12 Million |
Growth Rate |
CAGR of 7.2% from 2023 to 2030 |
Analysis Period |
2022–2030 |
Base Year Considered |
2022 |
Forecast Period |
2023–2030 |
Market Size Estimation |
Million (USD) |
Growth Factors |
Thriving Pharmaceutical Industry and Innovation. Singapore's Robust Pharmaceutical Industry. |
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. |