Global Genetic Toxicology Testing Market is Anticipated to Witness Impressive Growth During the Forecast Period. this Can be Ascribed to the Growing Focus on Drug Discovery, and the Development of New Treatments or Therapies for Various Diseases.
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Growing Demand for Personalized Medicine
Increasing demand for personalized medicine for the treatment of different diseases is expected to propel market growth in the forecast period. The advancement of molecular medicine has resulted in the novel concept of pharmacogenomics where personalized medicine can provide better medication selection and targeted therapy. Additionally, it helps to reduce the side effects along with improving patient experience. Increasing research and development investments in the early stages of drug development are also expected to increase the utilization of in-vivo toxicology techniques before the drug reaches the high-cost clinical stages. This increases the demand for genetic toxicology services. For many genetically modified food, drugs, chemicals, pesticides, and vaccines, several countries' government requires toxicology testing as a pre-requisite for imports and exports. Between 2006 and 2010, investment in personalized medicine in the United States grew by 73 percent, as per reports.Increasing R&D activities
Increasing the approval of various drug candidates and increasing acceptance of compounds in the preclinical stages is expected to grow the genetic toxicology testing market over the years. To achieve the main goal of drug discovery, intensive research, and development activities are conducted in the early stages of drug development. This, in turn, enhances the demand for genetic toxicology services in the forecast period. Different companies operating in the food, cosmetic, and healthcare sector are adopting genetic toxicology leading to a rise in demand for genetic toxicology services, thereby fuelling the growth of the market. Federal government spending for health care grew 36.0% in 2020, significantly faster than the 5.9% growth in 2019.Market Segmentation
Global genetic toxicology testing market can be segmented by component, type, application, and by region. Based on components, the market can be segmented into Reagents & Consumables, Assays, and Services. Based on type, the market can be divided into In Vitro and In Vivo. Based on application, the market can be grouped into Pharmaceutical & Biotechnology, Cosmetics, Food, and Others. Regionally, North America dominated the market among Asia Pacific, Europe, the Middle East & Africa, and South America. Among the different countries, the United States dominated the global genetic toxicology testing market, on account of the growing demand for personalized medicine and increasing investment in the healthcare industry in the country.Market Players
Thermo Fisher Scientific, Inc., Eurofins Scientific SE, Jubilant Life Sciences Limited, Syngene International Limited, Gentronix Ltd., Inotiv Inc., Charles River Laboratories International, Inc., Merck KGaA, Toxikon Corporation, Gentronix Limited are some of the leading players operating in the Global Genetic Toxicology Testing Market.Recent Developments
- Inotiv, Inc. in July 2022 announced that it would be continuing to expand its capacity to conduct genetic toxicology studies for in vitro cytogenetics and bacterial assays. This will help in supporting the development of novel therapeutics.
- In November 2021, United Kingdom-based contract research organization, Gentronix announced that they have raised around USD 743,000(Euro 700) for the expansion of its lab facilities by enhancing its capacity for ocular, genetic, and skin toxicology testing.
Report Scope:
In this report, global genetic toxicology testing market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:Genetic Toxicology Testing Market, By Component:
- Reagents & Consumables
- Assays
- Services
Genetic Toxicology Testing Market, By Type:
- In Vitro
- In Vivo
Genetic Toxicology Testing Market, By Application:
- Pharmaceutical & Biotechnology
- Cosmetics
- Food
- Others
Genetic Toxicology Testing Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Genetic Toxicology Testing Market.Available Customizations:
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Thermo Fisher Scientific, Inc.
- Eurofins Scientific SE
- Jubilant Life Sciences Limited
- Syngene International Limited
- Gentronix Ltd.
- Inotiv Inc.
- Charles River Laboratories International, Inc.
- Merck KGaA
- Toxikon Corporation
- Gentronix Limited