Australia In-vitro Toxicology Testing Market Size & Outlook
Australia in-vitro toxicology testing market, 2018-2030 (US$M)
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Australia in-vitro toxicology testing market highlights
- The Australia in-vitro toxicology testing market generated a revenue of USD 466.6 million in 2023 and is expected to reach USD 959.0 million by 2030.
- The Australia market is expected to grow at a CAGR of 10.8% from 2024 to 2030.
- In terms of segment, pharmaceutical industry was the largest revenue generating end user in 2023.
- Diagnostics is the most lucrative end user segment registering the fastest growth during the forecast period.
In-vitro toxicology testing market data book summary
| Market revenue in 2023 | USD 466.6 million |
| Market revenue in 2030 | USD 959.0 million |
| Growth rate | 10.8% (CAGR from 2023 to 2030) |
| Largest segment | Pharmaceutical industry |
| Fastest growing segment | Diagnostics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pharmaceutical Industry, Cosmetics And Household Products, Academic Institutes and Research Laboratories, Diagnostics, Chemicals Industry, Food Industry |
| Key market players worldwide | Charles River Laboratories International Inc, SGS, Merck KGaA, Eurofins Scientific SE, Abbott Laboratories, Labcorp Holdings Inc, Evotec SE, Thermo Fisher Scientific Inc, Quest Diagnostics Inc, Agilent Technologies Inc, Catalent Inc, Danaher Corp, Bio-Rad Laboratories Inc |
Other key industry trends
- In terms of revenue, Australia accounted for 1.5% of the global in-vitro toxicology testing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China in-vitro toxicology testing market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,552.1 million by 2030.
Pharmaceutical industry was the largest segment with a revenue share of 43.23% in 2023. Horizon Databook has segmented the Australia in-vitro toxicology testing market based on pharmaceutical industry, cosmetics and household products, academic institutes and research laboratories, diagnostics, chemicals industry, food industry covering the revenue growth of each sub-segment from 2018 to 2030.
In vitro toxicology testing in Australia is becoming more competitive due to a number of factors, including the growing demand for these services, the increasing number of pharmaceutical & biotech companies operating in the country, and the government's focus on promoting innovation in the life sciences sector.
Australia's efficient regulatory pathway for First-In-Human (FIH) clinical trials is attracting drug sponsors from around the world. The availability of critical nonclinical testing services in Australia is also providing added efficiencies, as studies conducted by reputable organizations in the country can help streamline regulatory approval for clinical trial startups.
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In-vitro Toxicology Testing Market Scope
In-vitro Toxicology Testing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia in-vitro toxicology testing market size, by end user, 2018-2030 (US$M)
Australia In-vitro Toxicology Testing Market Outlook Share, 2023 & 2030 (US$M)
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