Genetic Toxicology Testing Market is Estimated to Grow at a CAGR of 10.0% from 2021 to 2030 | Top Players Creative Bioarray, Laboratory Corp of America Holdings, Jubilant Life Sciences Limited, Merck KGAA

The Global Genetic Toxicology Testing Market is estimated to value USD 1.90 billion in 2021 and is projected to grow at a CAGR of 10.0% during the forecast period. Genetic toxicology testing studies the effects of different chemical agents, biological and physical, on the living organism’s genetics. A deep study of toxic effects of damage to the DNA is known as genetic toxicology. These tests are conducted either to find out about gene mutation and chromosomal damage. The toxicology tests are conducted on chemical used in cosmetic industry, pharmaceutical drugs, industrial chemicals, pharmaceutical impurities and agrochemicals.

Initial goal of research and development activities is to increase the overall chances of approval of Phase I drug candidates by increasing the undertaking of compounds in the preclinical stages. Intensive research and development activities are conducted in the early stages of drug development to attain it. This drives the market for genetic toxicology services. Increasing research and development investments in the initial stages of drug development are also expected to increase the use of in-vivo toxicology methods before the drug reaches the expensive clinical stages. This will augment the demand for genetic toxicology services, which will boost the market growth.

However, the lack of confirmation in vitro models to study the complex endpoints is anticipated to limit the growth for genetic toxicology. Furthermore, the reluctance of regulatory authorities in order to consider alternative methods for proving efficacy and safety is anticipated to restrain the growth of this market up to some extent.

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Some Noted Developments Considered in the Report:

• January 2019- Charles River entered an agreement with Toxys to offer the latter’s ToxTracker in North America.

• February 2021- Charles River laboratories International, Inc. acquired Cognate BioServices, Inc. which is a premier cell and gene therapy contract development and manufacturing organization.

COVID-19 Impact on Global Genetic Toxicology Testing Market

QMI team is closely monitoring on the impact of COVID-19 on global genetic toxicology testing market and it is been observed that with the increase in demand for quick testing of the COVID-19, the demand for genetic toxicology services has also increased, especially in toxicology services and diagnostic assays.

The rapid spread of COVID-19 has caused a shortage of equipment and medical supplies due to temporary lockdowns being imposed across the world. The production activities or the halt of manufacturing and travelling restrictions have been impacting the movement of shipments. Except for transportation-related delays arising from travel restrictions and driver shortage issues, the COVID-19 has not significantly impacted supplies of raw materials used for genetic toxicology.

Global Genetic Toxicology Testing Market, by Product

On the basis of product, the market is categorized into assays, services and reagents & consumables. The services segment is anticipated to account for the highest market share during the projected period. Growing research and development activities in the pharmaceutical industry, government investments in the area of life sciences research, and the research being undertaken with combined omics studies, which is leading to increased outsourcing of services to contract research organizations (CROs), are some of factors accounted for this segment growth.

Global Genetic Toxicology Testing Market, by Application

Based on application, the market is bifurcated into the cosmetic industry, food industry, healthcare industry, and other industries. The cosmetics industry segment is anticipated to hold the largest market share during the projected period. The rising usage 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 to develop reliable, secure products. All these factors have accounted in the development of this segment.

Global Genetic Toxicology Testing Market, by Region

On the basis of region, the market is bifurcated into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. North America is estimated to hold the largest market share during the projected period owing to the increasing academic and government investments in proteomics and genomics research and the rising development of structure-based drug designs. In addition, high biopharmaceutical research and development expenditure, increasing life sciences research funding, and the increasing adoption of advanced technologies in North America are accounted to drive the market growth.

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Major Findings of the Global Genetic Toxicology Testing Market Report Include:

• Major global market trend and forecasts analysis along with a country-specific market analysis for up to 25 countries

• An in-depth global genetic toxicology testing market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors

• Profiles of the major key market players operating in the global genetic toxicology testing market include Thermo Fisher Scientific, Inc., Charles River Laboratories International, Inc., Creative Bioarray, Laboratory Corp of America Holdings, Jubilant Life Sciences Ltd, Merck KGAA, Fork, Eurofins Scientific., Toxicon Corporation, Gentronix Ltd, Sotera Health LLC, MB Research Laboratories, and Environmental Bio-Detection Products

• Competitive benchmarking, product offering details, growth strategies adopted by the leading market players, along with their major investments in the last five years

• Key impact factor analysis across regions includes analysis, along with drivers, restraints, opportunities, and challenges that are prevailing in the global genetic toxicology testing market.

• Impact of COVID-19 on the global genetic toxicology testing market

Browse key industry insights spread across 155 pages with 85 market data tables and 41 figures & charts from the report, “Global Genetic Toxicology Testing Market by Product (Reagents and Consumables, Assays, and Services), Application (Healthcare Industry, Food Industry, Cosmetics Industry, and Other Industries, Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)- Market Size and Forecasting (2021–2030).” in-depth analysis along with the table of contents (ToC).

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This release was published on openPR.