Genetic Toxicology Testing Market is expected to grow at a CAGR of 12.40% during the forecast period - 2023-2030 | Eurofins Scientific, SGS SA, Merck LGaA, Covance, Genetic Toxicology.

Genetic Toxicology Testing Market Scope:
Market size value in 2023 - USD 8.3 Billion
Market size value in 2030 - USD 21.4 Billion
CAGR (2023-2030) - 9.3%
Forecast Period - 2023-2030
Segments Covered - Product, Test Offered, Type of Assay, End User And Region.
Geographies Covered - North America, Europe, Asia Pacific, and Row
Sample of Companies Covered - Merck LGaA, Covance, Genetic Toxicology, Association, Shanghai Medicilon Inc., BioReliance Corporation, WuXi AppTec, Bio-Rad laboratories.

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Browse in-depth TOC on "Genetic Toxicology Testing Market"
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The market for genetic toxicology testing market is dominated by North America
North America dominates the global genetic toxicology testing market, driven by its advanced R&D infrastructure, robust pharmaceutical industry, and stringent regulatory environment. The United States, home to numerous biotech and pharmaceutical companies, is a particularly strong contributor to North America's leading position in this market. The large market share of this segment can be attributed to several factors such as the growing development of structure-based drug designs, increased academic and government investment in genomics and proteomics research, rising life sciences funding, high biopharmaceutical R&D spending, and the adoption of advanced technologies in North America. Additionally, the presence of numerous global players in this region is a key driver of the segment's large market share.
The Asia-Pacific region is the fastest-growing segment of the global genetic toxicology testing market. This rapid expansion is fueled by the region's booming pharmaceutical and biotechnology industries, which are experiencing economic growth, increased healthcare investments, and a heightened focus on drug development. Emerging markets like China and India have become key players in drug discovery and development, driving higher demand for genetic toxicology testing services. Additionally, the region's growing population and rising awareness of genetic safety concerns are further accelerating the adoption of these testing methods.

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Top Key Players Covered in the Report-
Thermo Fisher Scientific Inc., Eurofins Scientific, SGS SA, Merck LGaA, Covance, Genetic Toxicology, Association, Shanghai Medicilon Inc., BioReliance Corporation, WuXi AppTec, Bio-Rad laboratories, Molecular Toxicology Inc., Lab Genius Limited, and Others.

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Recent Developments-
• In January 2023, the US Environmental Protection Agency (EPA) declared its plan to gradually eliminate specific animal testing methods used in genetic toxicology studies. This significant move aims to decrease animal use in research and is anticipated to increase the demand for alternative testing approaches, including genetic toxicology testing.
• In March 2023, GenTox Health was established as a new company. It specializes in genetic toxicology testing and utilizes next-generation sequencing (NGS) technology, offering more precise and thorough testing compared to conventional methods. This innovation is anticipated to transform the genetic toxicology testing industry.

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This release was published on openPR.