The Toxicology Drug Screening Market size is estimated at USD 14.51 billion in 2024, and is expected to reach USD 22.09 billion by 2029, growing at a CAGR of 8.77% during the forecast period (2024-2029).

The emergence of the COVID-19 pandemic had a significant impact on the market studied. Due to the onset of COVID-19, the need for vaccines and effective treatment development increased. This further increased the extensive use of toxicological screening methods in drug development. According to an article published in the PMC journal in July 2022, various government authorities recommended nonclinical safety studies such as efficacy, biodistribution, and toxicology studies prior to proceeding to First-in-human (FIH) clinical trials for COVID-19 vaccine candidate consisting of a novel product type for which no prior nonclinical and clinical data were available prior. Such instances show that the demand for toxicology testing increased during the pandemic, fueling the market growth, and the studied market is likely to witness growth during the forecast period.

The studied market is driven by three major factors such as increasing research and development (R&D) expenditure, technological advancements in toxicity screening, and rising demand for toxicological drug screening.

Chronic diseases are major factors that are fueling the demand for drug discovery and increase in R&D expenditure. Cancer and heart diseases are the major cause of healthcare burden globally. According to the 2022 update by 'Cancer Research UK,' if the recent trends in the incidence of major cancers and population growth are consistent, the new cancer cases will reach 27.5 million worldwide by 2040. With the rise in disease incidence, the major companies are concentrating on developing new drugs and therapeutics, followed by a demand generation for toxicology drug screenings for the same. Hence, the studied market is expected to witness growth over the forecast period.

The applications of toxicity testing are set to increase with advances in biotechnology and pharmaceuticals, resulting in a demand for the same. Several emerging fields and techniques are providing new insights into understanding biological responses to chemicals in human tissues. Furthermore, there is an increase in pharmaceutical R&D spending globally. According to the IFPMA's 2021 report, the annual R&D spending by the biopharmaceutical industry is 7.3 times higher than that of the aerospace and defense industries, 6.5 times more than the chemicals industry, and 1.5 times more than the software and computer services industry. The source above also mentioned that the biopharmaceutical industry spent USD 196,000 million in 2021, and it is expected to increase to USD 213,000 million by 2024. Thus, the increasing R&D in the biopharmaceutical industry for pharmaceutical product development is garnering the toxicology screening of the drug products, fueling the studied market growth.

In Vivo toxicology market worldwide is projected to grow by US$2.6 billion, driven by a combined growth of 6.6%. Instruments, one of the segments analysed and sized during this study, show the potential to grow at over 6.3%. The shifting dynamics supporting this growth make it crucial for businesses in this space to stay abreast of the dynamic pulse of the market. Poised to succeed in over US$2.5 billion by the year 2025, instruments can usher in healthy gains, adding important momentum to international growth. Representing the developed world, the U.S. can maintain a 5.6% growth momentum among Europe that continues to stay a crucial part of the world economy, FRG can add over US$90.5 million to the region's size and clout within the next five to six years. Over US$78.7 million of projected demand within the region can come back from the remainder of European markets.