In Vitro Toxicology Testing Products and Services Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2021-2025

In Vitro Toxicology Testing Products and Services Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRCMSTR21194

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In Vitro Toxicology Testing Products And Services Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

The in vitro toxicology testing products and services will grow at a CAGR of 11.52% during 2021-2025. Prices will increase by 2%-4% during the forecast period and suppliers will have a moderate bargaining power in this market. General Electric Co., F. Hoffmann-La Roche Ltd., Merck KGaA, Abbott Laboratories, Thermo Fisher Scientific Inc., Danaher Corp., Quest Diagnostics Inc., Lonza Group Ltd., Agilent Technologies Inc., and Bio-Rad Laboratories Inc. are among the prominent suppliers in in vitro toxicology testing products and services market.

Who are the Top Suppliers in the In Vitro Toxicology Testing Products And Services Market?

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Leading global suppliers can assist buyers in realizing high-cost savings through their efforts on areas such as reducing total ownership cost, conference participation, negotiate on pricing and contractual terms, reduction in ad-hoc spend, adoption of automation, cost of quality impact, vertical integration, backward integration, and supplier synergies. Collaborations with global suppliers will also help buyers in cost-saving and ensuring high-quality procurement in the dynamic market.

This report offers key advisory and intelligence to help buyers identify and shortlist the most suitable suppliers for their in vitro toxicology testing products and services requirements. Some of the leading in vitro toxicology testing products and services suppliers profiled extensively in this report include:

 

  • General Electric Co.
  • F. Hoffmann-La Roche Ltd.
  • Merck KGaA
  • Abbott Laboratories
  • Thermo Fisher Scientific Inc.
  • Danaher Corp.
  • Quest Diagnostics Inc.
  • Lonza Group Ltd.
  • Agilent Technologies Inc.
  • Bio-Rad Laboratories Inc.

 

Supplier Selection and Evaluation

Profile and service capabilities of the service provider, industry specialization of the service providers, reputation of service providers, and assessment of value-added services are some of the most critical parameters that buyers use to shortlist the suppliers in in vitro toxicology testing products and services.

This report evaluates suppliers based on automated cell culture, evidence-based toxicology testing, proper inventory management techniques, and multiple or sole-source procurement based on the category of raw materials. In addition, suppliers are also shortlisted based on business needs, technical specifications, operational requirements, security compliance, regulatory mandates, legal requirements, quality control, change management procedures, pricing models, penalty clauses, SLA nuances, acceptance criteria, and evaluation criteria.

What are the Major Pricing Trends in In Vitro Toxicology Testing Products and Services Procurement?

The pressure from substitutes and a high level of threat from new entrants has resulted in the moderate bargaining power of suppliers. This makes it extremely important to get the pricing and pricing model right. Buyers should align their preferred pricing models for in vitro toxicology testing products and services with the wider industry and identify the cost-saving potential.

Time and material pricing model, subscription-based pricing model, and cost-plus pricing model are the most widely adopted pricing models in the in vitro toxicology testing products and services. Each pricing model offers optimum benefits and fitment in specific situations. Buyers should identify the model that suits their operations in the best manner and link supplier performance to the pricing models.

Price Strategies and Benchmark

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To optimize the value of the purchase it is crucial to keep a track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects a change of 2%-4%.

  • Identify favorable opportunities in in vitro toxicology testing products and services TCO (total cost of ownership)
  • Expected changes in price forecast and factors driving the current and future price changes
  • Identify pricing models that offer the most rewarding opportunities

Will there be an Increase in the Spend Growth for In Vitro Toxicology Testing Products And Services Procurement?

The report provides a complete drill-down on global in vitro toxicology testing products and services spend outlook at a global as well as regional level. Current spend scenario, growth outlook, incremental spend, and other key information is available individually for North America, South America, Europe, Middle East and Africa, and APAC.

Spend Growth and Demand Segmentation

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The in vitro toxicology testing products and services market will register an incremental spend of about $ 10.08 billion during the forecast period. Only a few regions will drive the majority of this growth. On the supply side, North America, South America, Europe, Middle East and Africa, and APAC will have the maximum influence owing to the supplier base.

The drivers and inhibitors that influence these global and regional outlooks are also elaborated in detail. Our in-depth growth decomposition analysis covers details on:

  • Factors driving the growth (or lack of it) in individual geographies
  • Regions that hold the most rewarding opportunities for buyers and suppliers
  • Is the spend growth cyclical and when will the growth curve peak?

What are the Major Category Management Objectives for In Vitro Toxicology Testing Products And Services Sourcing?

A targeted strategic approach to in vitro toxicology testing products and services sourcing will provide several opportunities to buyers. However, in the absence of actionable intelligence on in vitro toxicology testing products and services, buyers have resulted in a transaction-based approach towards the category. The buyers have moderate bargaining power in this market and a holistic category management approach will help buyers maximize the value on their in vitro toxicology testing products and services procurement.

The report explains key category management objectives that should form the base for sourcing strategy, including:

 

  • Top-line growth
  • Scalability of inputs
  • Category innovations
  • Supply base rationalization
  • Cost savings
  • Adherence to regulatory nuances
  • Customer retention
  • Reduction of TCO
  • Supply assurance
  • Green initiatives
  • Demand forecasting and governance
  • Minimalization of ad hoc purchases

 

In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report will also help create the necessary support structure to facilitate implementation. This report provides in-depth inputs on streamlining category management practices and provides detailed answers on:

  • The strategic sourcing objectives, activities, and enablers for in vitro toxicology testing products and services category
  • In vitro toxicology testing products and services procurement best practices to promote in my supply chain

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Executive Summary

    Market Insights

      Category Pricing Insights

        Cost-saving Opportunities

          Best Practices

            Category Ecosystem

              Category Management Strategy

                Category Management Enablers

                  Suppliers Selection

                    Suppliers under Coverage

                      US Market Insights

                        Category scope

                          Appendix

                            Research Framework

                            SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                            INFORMATION SOURCES

                            Primary sources

                            • Procurement heads
                            • Category managers
                            • Sourcing consortium professionals
                            • Industry experts and thought leaders
                            • Procurement managers
                            • Category heads of suppliers
                            • Client account heads/managers
                            • Client and industry consultants

                            Secondary sources

                            • Industry journals and reports
                            • Periodicals and new articles
                            • Category webinars
                            • Internal categiry playbooks
                            • Industry and government websites on regulations and compliance
                            • Internal databases
                            • Industry blogs/thought leader briefings

                            DATA ANALYSIS

                            In Vitro Toxicology Testing Products and Services Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2021-2025
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