The Global Genetic Toxicology Testing Market is estimated to reach a value of USD 1.90 billion in 2021 and is projected to grow at a CAGR of 10.0% during the forecast period. The market is driven by increased pharmaceutical research activities, opposition to animal testing, and research and development on advanced toxicity detection.
The rising concentration on drug discovery and personalized medicine utilizing in-vitro procedures and the increasing demand for humanized animal models are expected to provide remarkable growth opportunities for the competitors operating in the global genetic toxicology testing market. However, the failure to establish the complexities of in-vivo conditions, the inadequacy of in-vivo models to study complicated endpoints, and the reluctance of regulatory authority to examine alternative procedures for proving security and efficacy are expected to hamper the genetic toxicology testing market.
The primary objective of research and development activities is to raise the overall opportunities of acceptance of phase 1 drug applicants by raising the acceptance of compounds in the preclinical stages of drug development. Increased research and development investments in the initial stages of drug development are also expected to increase the utilization of in vivo toxicology procedures before the drug reaches the expensive clinical stages. This also leads to an increase in demand for genetic toxicology services, driving the market growth.
TABLE 1: GLOBAL GENETIC TOXICOLOGY TESTING MARKET OVERALL SNAPSHOT
The global genetic toxicology testing market is segmented based on product, application, and region.
FIGURE 1: GLOBAL GENETIC TOXICOLOGY TESTING MARKET SEGMENTATION
Global Genetic Toxicology Testing Market, by Product
Based on product, the market is segmented into reagents and consumables, assays, and services. The services segment is expected to account for the highest market share during the forecast period. The increasing research and development activities in the pharmaceutical industry, increasing government investments in the area of life sciences research, and the rising research being undertaken with combined omics studies, which is leading to increased outsourcing of services to contract research organizations (CROs), are factors attributing to the higher share of the segment.
Global Genetic Toxicology Testing Market, by Application
Based on application, the market is segmented into the healthcare industry, food industry, cosmetics industry, and others. The cosmetics industry segment is expected to observe the highest growth during the forecast period. The rising utilization of cosmetics due to the increasing disposable incomes and their easy accessibility to the public has driven the industry to invest in the investigation of breakthrough products and develop safe products. All these aforementioned factors contribute to segment growth.
Global Genetic Toxicology Testing Market, by Region
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America records for the highest share of the genetic toxicology testing market. The segment growth can be associated with the rising development of structure-based drug designs, increasing academic and government investments in proteomics and genomics research, increasing life sciences research funding, high biopharmaceutical research and development expenditure, and the developing adoption of advanced technologies in North America. The existence of a large number of global players also factor contributes to regional market growth.
TABLE 2: GLOBAL GENETIC TOXICOLOGY TESTING MARKET OVERVIEW
FIGURE 3: GLOBAL GENETIC TOXICOLOGY TESTING MARKET (USD BILLION), 2021–2030
Recent Developments in the Global Genetic Toxicology Testing Market
- In May 2021, Charles River plans to acquire Vigene Biosciences, a leading gene therapy contract development and manufacturing organization (CDMO), offering viral vector-based gene delivery solutions. The acquisition will increase Charles River’s cell and gene therapy CDMO capabilities for plasmid DNA and viral vectors.
- In March 2020, Thermo Fisher Scientific invested more than USD 475 million in new capacity and capabilities 2020. This investment, in addition to those made in the year 2019, brings the complete investment over two years to approximately USD 800 Million across the company’s pharma services business. Thermo Fisher planned to align capacity and capacities around three fields of greatest demand: cell and gene therapy, biologics, and drug development and commercial capabilities.
What Does This Report Provide?
This report provides a detailed understanding of the global genetic toxicology testing market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market. The major market drivers, challenges, and opportunities for the global genetic toxicology testing market have been covered in the report. This report further includes the market shares of the leading companies operating in the global market, along with their production capacities and the growth strategies adopted by them.
- Reagents & Consumables
- Healthcare Industry
- Food Industry
- Cosmetics Industry
- Other Industries
North America Genetic Toxicology Testing Market
- North America, by Country
- North America, by Product
- North America, by Application
Europe Genetic Toxicology Testing Market
- Europe, by Country
- The Netherlands
- Rest of Europe
- Europe, by Product
- Europe, by Application
Asia Pacific Genetic Toxicology Testing Market
- Asia Pacific, by Country
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Product
- Asia Pacific, by Application
Middle East & Africa Genetic Toxicology Testing Market
- Middle East & Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Type
- Middle East & Africa, by Application
South America Genetic Toxicology Testing Market
- South America, by Country
- Rest of South America
- South America, by Product
- South America, by Application
Major Companies: In this report, the major companies studied are: Thermo Fisher Scientific, Inc., Charles River Laboratories International, Inc., Creative Bioarray, Laboratory Corp of America Holdings, Jubilant Life Sciences Limited, Merck KGAA, Eurofins Scientific, Toxicon Corporation, Gentronix Limited, Sotera Health LLC, MB Research Laboratories, and Environmental Bio-Detection Products Inc.
Objectives of this Report:
- To estimate the market size for the genetic toxicology testing market on a regional and global basis.
- To identify major segments in the genetic toxicology testing market and evaluate their market shares and demand.
- To provide a competitive scenario for the market with major developments observed by the key companies in the historic years.
- To evaluate key factors governing the dynamics of the genetic toxicology testing market with their potential gravity during the forecast period.
- To evaluate the leading company-wise pricing analysis for the mentioned applications.
Key Questioned Answered in the Study:
- What are major growth drivers and market trends that are impacting the global genetic toxicology testing market?
- What is the market size both in terms of value and volume for the global genetic toxicology testing market?
- Who are the leading market players and who are the new market players that operate in the global market with an estimated market share?
- What are the future investment pockets and opportunities in the global genetic toxicology testing market?
- Major list of customers and potential futuristic customer list along with an estimated buying volume
- Impact of COVID-19 on the global genetic toxicology testing market
This study is customized to meet your specific requirements:
- By sub-segment
- By client-specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product-specific competitive analysis
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