Non-animal alternative testing market predicted to grow by 2030 due to rising chronic diseases among elderly population. Pharmaceutical industry sub-segment to have highest growth rate. Market in the North America region to prosper by 2030.
NEW YORK, Aug. 30, 2022 /PRNewswire/ — Research Dive has added a new report to its offering titled, ‘Non-animal Alternative Testing Market by Technology (Cell Culture Technology, High Throughput Technology, Molecular Imaging, and Omic Technology), Method (Cellular Assay, Biochemical Assay, In Silico, and Ex-vivo), End-user (Pharmaceutical Industry, Cosmetics & Household Products, Diagnostics, Chemical Industry, and Food Industry), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2030.’
According to the report, the global non-animal alternative testing market is projected to register a revenue of $29,390.3 million and grow at 13.48% CAGR during the forecast period 2021-2030.
Dynamics of the Market
Drivers: The high risk of chronic diseases among the millennials, especially the elderly population, along with researchers increasing R&D activities to explore the potential of drug dosing and toxicity are some factors to drive the growth of the global non-animal alternative testing market during the forecast period. Moreover, the growing need for drug development is yet another factor to boost the market growth by 2030.
Opportunities: Strict policies of organizations like PETA and Cruelty-free International that prohibits the torturing or practicing medical examinations or tests on animals along with increasing media campaigns that focus on stopping animal cruelty are some major factors to offer abundant growth opportunities for the global non-animal alternative testing market by 2030. Additionally, rising product portfolio and strategic alliances among market players is also predicted to augment the market development.
Restraints: Lack of awareness about the use of non-animal alternative testing among researchers is the major hindering factor for the market growth.
Covid-19 Impact on the Market
The onset of the Covid-19 pandemic has had a positive impact on the global non-animal alternative testing market due to the surging demand for medicines to strengthen immunity during the deadly times. Many researchers and drug developers restrained from directly operating with animals or humans during pre-clinical trials to curb the spread of the coronavirus that further boosted the market growth. Moreover, the constant need for vaccine development also promoted the alternative methods of testing drugs rather than testing on animals, thus further driving the market growth.
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Segments of the Market
The report has divided the non-animal alternative testing market into a few segments based on technology, method, end-user, and regional analysis.
- By technology, the cell culture sub-segment is estimated to hold a dominant market share and gather a revenue of $11,025 million during the 2021-2030 analysis timeframe due to the extensive use of cell culture technology by researchers to assess several test findings. This approach also enables various pharmacological tests to be carried out on eukaryotic cells that have been cultivated under controlled in-vitro environment. This factor is anticipated to bolster the sub-segment’s growth by 2030.
- By method, the ex-vivo sub-segment of the non-animal alternative testing market is expected to have significant growth rate and register a revenue of $3,613.9 million during the analysis years due to cosmetic companies conducting sensitivity tests on cosmetic items to acter to the surging demand for artificial organs in the cosmetics industry. Several human organs are created in-vitro to perform product testing, thus minimizing the usage of animal models and propelling the sub-segment’s growth by 2030.
- By end-user, the pharmaceutical industry sub-segment is predicted to have the highest growth rate and generate a revenue of $13,621.5 million by 2030 due to the expansion of R&D efforts of the pharmaceutical companies to create new medications. Moreover, several encouraging firms are employing in silico drug testing techniques to avoid any type of ethic issues and stop the use of animals for drug testing. These factors are projected to uplift the sub-segment’s growth during the analysis years.
- By region, the non-animal alternative testing market in the North America region is estimated to have the highest growth rate of 12.85% CAGR during the forecast timeframe due to the presence of major non-animal alternative testing companies and their expanding research and development activities for drug testing on artificial human organs. Moreover, rising chronic diseases among the elderly population is also anticipated to boost the market growth in the North America region by 2030.
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Key Market Players
Some key non-animal alternative testing market players are
- Hurel Corporation
- Bio-Rad Laboratories, Inc.
- Evotec SE
- MB Research Laboratories
- TissUse GmbH.
- VITROCELL Systems GmbH
- TARA Biosystems, Inc.
- Abbott
- Biovit
- Emulate, Inc.
These players are building several strategies like product development and enhancement, merger and acquisition, partnerships and collaborations to assist the market growth.
For example, in August 2022, the National Institutes of Health, India’s medical research agency, announced its strategic plan to cure hepatitis B and improve vaccination strategies by developing new cell culture systems to stop animal-cruelty in the medical field.
The report also sums up various crucial facets including financial performance of the market players, SWOT analysis, product portfolio, and the latest strategic developments.
More about Non-animal Alternative Testing Market:
- Significance of Non-Animal Alternative Testing Methods
- Non-animal Alternative Testing Market to Observe Significant Growth Due to Technological Advancements and Company Acquisitions by Market Players, such as CELLINK, SenzaGen AB, and Others
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