Infusion Toxicology Services Market Outlook and Growth Forecast for the Period 2018-2028

Posted on 2019-07-11 by Mark Hub in Healthcare // 0 Comments

The growing stringency of regulations coupled with growing number of abbreviated and new drug applications stemming from growing research is another significant driver of the global infusion toxicology services market. The restraints on the global Infusion Toxicology Services Market are high cost of studies, issues of control, communication and responsibility owing to third party and the scarcity of trained manpower for studies.

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Infusion toxicology studies are conducted in toxicologically relevant species to assess the preclinical safety of drugs intended for intravenous administration in human subjects. Infusion toxicology studies help to determine the effective and safe concentration of drug in systemic circulation, which can produce the desired pharmacological action with minimum adverse effects. Infusion toxicology studies also help to determine the clinical dosing regimen for drugs intended to be administered in humans. Infusion toxicology services market demand expertise and are resource and time intensive, which has necessitated their transfer to third party service providers.

The high research and skill intensity of infusion toxicology studies is the critical driver for the global infusion toxicology services market owing to need for achieving lean size and lower operating costs. The companies benefit by avoiding expenditure on developing skills it may not possess or which are ill suited to the company’s structure. Development times are also reduced by benefiting from skill set of service provider. Demand pooling is another strategy utilized by service providers which results in lower costs for the infusion toxicology studies, a critical advantage. The lower costs are then shared between the clients and the service providers thereby achieving absolute cost advantage. Management complications are also eliminated thereby resulting in focusing on activities where the company has competitive advantage and is also a better utilization of human resource of the client company.

The growing number of clinical research studies resulting from greater research and development in the pharmaceutical industry is also expected to propel the growth of the global infusion toxicology services market. Data from linicalTrials.gov lists 276,922 studies with locations in all 50 states and in 204 countries. The number of clinical trials conducted registered a hefty CAGR growth of 14.7 % during the period of 2010 to 2017.

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The global market for infusion toxicology services is consolidated with a few large players dominating the scene. The market trends include a definite shift in favor of developing regions of Asia Pacific, such as India, and China. There is also a strong trend of collaboration between large hospitals and service providers to benefit from infrastructure and skill training. Data sharing between players is another trend so as to reduce the cost.

The global infusion toxicology services market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, the Middle East and Africa. North America is expected to account a large share in the global infusion toxicology services market owing to concentration of key market players, consolidation of healthcare, and large research and development expenditure.

The Asia Pacific excluding Japan infusion toxicology services market is expected to grow a significant CAGR owing to attractive economics of labor. China and India are expected acquire lion’s share in the global market owing to lower labor cost and an expanding pool of skilled talent. The labor cost in Asia Pacific is approximately one-third of the developed countries. The Europe infusion toxicology services market, led by Germany, France and the U.K., is expected to account second large share in the global market. The Middle East and Africa infusion toxicology services market is expected to be skewed in favor of the gulf economies of Saudi Arabia, Kuwait, and Qatar.

Examples of some of the major players operating in the global infusion toxicology services market are Charles River, Covance Inc., Citoxlab, MPI Research, Creative Animodel, Smithers Avanza, Envigo, and Creative Biolabs, among others. Collaboration between players and strategic business partnerships are the prime strategies that can yield a premium.

The global infusion toxicology services report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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