Polaris Market Research recently published [115+ Pages] research report on “Genetic Toxicology Testing Market Share, Size, Trends, Industry Analysis Report, By Type (In Vitro, In Vivo), By Product (Services, Reagents & Consumables); By Application (Cosmetic Industry, Healthcare Industry); By Region; Segment Forecast, 2022 – 2030” in its research database.
According to the research report, the global genetic toxicology testing market size & share was valued at USD 1.40 billion in 2021 and is expected to reach USD 3.21 Billion by 2030, growing at a CAGR of 10.1% during the forecast period.
What is Genetic Toxicology Testing? How Big is Genetic Toxicology Testing Market?
Genotoxic studies are executed to examine the probability of several products before extensive usage in humans. The rapidly rising demand for the genetic toxicology testing market can be attributed to the DNA-receptive substances initiating the carcinogenic procedure and screening plan of action, with the embedded mode of action particulars and rendering more functional for biologically examining the possibility of human risk.
The evolving drug advancement and detection, together with increasing usage of pharmacogenomics, is anticipated to enhance the probability of genetic toxicology data. Since it can examine the compounds that can influence genetic mutations or chromosomal injuries. Further, the industry’s augmentation of spaces and obtainability of funding across the globe is also a substantial growth consideration.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
What Does the Report Include?
Growth Driving Factors
- Prominent global market trends and predictions, together with country-specific market analysis
- An in-depth testing market analysis by the preceding segments, along with the study of trend-dependent insights and factors
- Profiles of prominent vital players functioning in the market
- Competitive benchmarking, product offering details, and growth plan of action acquired by the spearheading market players with their central investments in the last five years
- Prominent impact factor analysis covering regions includes analysis, together with restraints, drivers, challenges, and opportunities prevailing in the market
Some of the Top Market Players Are:
- Thermo Fisher Scientific Inc.
- Charles River Laboratories International
- Eurofins Scientific
- Merck KGAA
- Jubilant Life Sciences Ltd
- Laboratory Corp of America Holdings
- Gentronix Ltd
- Creative Bioarray
- MB Research Laboratories
- Sotera Health LLC.
- Environmental Bio-Detection Products Inc
- Cyprotex PLC
- Shanghai Medicilon Inc.
- Toxikon Corporation
- Fraunhofer ITEM
- Gentronix Ltd
- Toxikon Corporation
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Growing food imports to push the market
The genetic toxicology testing market size is expanding due to the outcome of growing demand for imports of contemporary foods. Rising food imports force governments to do security testing and other protection judgments. As per the European Food Safety Authority, genetic heterogeneity, growing globalization, and inventive sources of supplements are supplying factors to new food imports. Fresh food comprises food production with the help of technology, food incorporating new additives, and food through new sources.
Genetic toxicology testing market sales are soaring due to increasing funding by crucial players to augment lab facilities. This game plan expedites the obtainability and availability of the service in the market. Growing concentration on the cutback of animal employment for appraisal of the genotoxic possibility of substances is expected to influence of costs and time needed for genetic toxicology testing.
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In March 2022, Thermo Fisher Scientific established that they would hold forth their alliance with Symphogen to offer biopharmaceutical discovery, advance laboratories with advanced tools, and generate contemporary cancer cures.
- In vitro segment to grow at a significant CAGR
Based on type, in vitro segment is expected to grow at a notable CAGR. With the increasing concentration on customized medicines and drugs with in vitro application is going to boost the genetic toxicology testing market demand over the forecast period. With prohibiting the usage of drugs and cosmetic testing on animals in vitro segment will grow as the tests are executed within the labs using specific instruments.
- The service segment accounted for the highest revenue share
Based on product, the service segment dominated the market. This segment accounted for a higher revenue share in the market and is expected to grow with a notable CAGR during the forecast period. Genetic toxicology testing market trends include escalating R&D activities in the pharmaceutical category, raising funding from government firms in research and life sciences, and increasing omics research such as genomics, proteomics, transcriptomics, and metabolomics.
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- The increasing elderly population boosts the Asia Pacific market
North America held the highest genetic toxicology testing market share due to well-accepted infrastructure and technological progression. The reasons for the existence of critical market players in the region are escalating government funding, growing R&D in omics studies, and technological advancement.
The Asia Pacific region is anticipated to grow with a notable CAGR with growing government enterprises and probes during the forecast period. The growing elderly populace in the region causes several infectious illnesses, thus producing testing. Increasing awareness related to healthcare is advancing with technological progression generating growth in the industry.
Browse the Detail Report “Genetic Toxicology Testing Market Share, Size, Trends, Industry Analysis Report, By Type (In Vitro, In Vivo), By Product (Services, Reagents & Consumables); By Application (Cosmetic Industry, Healthcare Industry); By Region; Segment Forecast, 2022 – 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/genetic-toxicology-testing-market
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Frequently Asked Questions
- What is the CAGR of the market during the forecast period?
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- What is the market size in context to value and volume for the market?
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Genetic Toxicology Testing Market Report Highlights
- In vitro and In vivo are anticipated to grow their sector in the market owing to the increasing focus on personalized medicines and drugs.
- The service segment accounted for the highest revenue share in 2021 and is expected to continue its dominance owing to rising R&D activities in the pharmaceutical sector and increasing interest in omics studies.
- The cosmetic industry is expected to grow during the forecast period owing to the higher consumption of cosmetic products by people.
- Asia Pacific is expected to grow at a significant CAGR over the forecast period on account of increasing government investment, R&D advancement, and technological advancements in the region, such as in India and China.
Polaris Market Research has segmented the genetic toxicology testing market report based on type, product, application, and region:
By Type Outlook
- In vitro
- In vivo
By Product Outlook
- Reagents & Consumables
By Application Outlook
- Healthcare Industry
- Food Industry
- Cosmetics Industry
- Agriculture Industry
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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