DUBLIN–(BUSINESS WIRE)–The “Global Genetic Toxicology Testing Market with COVID-19 Impact Analysis by Product (Assays, Reagents & Consumables, Services), Application (Healthcare Industry, Food Industry, Cosmetics Industry, Agriculture Industry) and Region – Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The world’s genetic toxicology testing market is projected to reach USD 2 billion by 2025 from USD 1.2 billion in 2020, at a CAGR of 10.2%.
Growth in this market is primarily driven by increased pharmaceutical research activities, opposition to animal testing, and R&D on early toxicity detection. The increasing focus on drug discovery and personalized medicine using in vitro methods, and the rising demand for humanized animal models, is expected to offer significant growth opportunities for the players operating in the global genetic toxicology services market.
On the other hand, the failure to establish the intricacies of in vivo conditions, lack of in vitro models to study complex endpoints, and the reluctance of regulatory authorities to consider alternative methods for proving safety and efficacy are expected to restrain the growth of this market to a certain extent.
Based on product, the services segment holds the largest market share during the forecast period
Based on product, the genetic toxicology testing market is segmented into reagents & consumables, assays, and services. The services segment accounted for the larger market share in 2019. The growing R&D activities in the pharmaceutical industry, growing government investments in the field of life sciences research, and the increasing research being undertaken with integrated omics studies, which is leading to increased outsourcing of services to contract research organizations (CROs), are factors attributing to the larger share of the segment.
Based on application, the cosmetics industry segment is expected to register the highest CAGR during the forecast period
Based on application, the genetic toxicology testing market is segmented into the healthcare industry (pharmaceutical & biotechnology), food industry, cosmetic industry, and others (agriculture and chemical industries). The cosmetics industry segment is expected to witness the highest growth during the forecast period. (Read more…)
The increasing use of cosmetics owing to the rising disposable incomes and their easy availability to the public has driven the industry to invest in the research of breakthrough products and develop safe products are set to drive market growth.
North America is expected to account for the largest share of the genetic toxicology testing market in 2019
In 2019, North America accounted for the largest share of the genetic toxicology testing market, followed by Europe, the Asia-Pacific, Latin America, and the Middle East & Africa. The large share of this market segment can be attributed to the increasing development of structure-based drug designs, growing academic and government investments in genomics and proteomics research, rising life sciences research funding, high biopharmaceutical R&D expenditure, and the emerging adoption of advanced technologies in North America.
The presence of a large number of global players in this region is another key factor contributing to the large share of this market segment.
Market Dynamics
Market Drivers
- Increased Number of Pharmaceutical R&D Activities
- Opposition to Animal Testing of Drugs and Cosmetics
- R&D Activities for Early Toxicity Detection in Drugs
Market Restraints
- Lack of Validated in Vitro Models to Study Complex Endpoints
- Reluctance of Countries Toward Replacement of in Vivo Methods with Alternative Testing
- Failure of in Vitro Methods to Achieve Intricacies Similar to in Vivo Methods
Market Opportunities
- Increased Focus on Drug Discovery and Personalized Medicines Using in Vitro Methods
- Risen Global Demand for Humanized Animal Models
Market Challenges
- Regulations and Laws to Ensure Ethical Use of Animals in Research Activities
- Dearth of Skilled Professionals
Industry Trends
- Increasing Focus on Predictive Toxicology
Parent Market (In Vitro Toxicology Testing): Supply Chain Analysis
COVID-19 Health Assessment
- COVID-19 Impact on Genetic Toxicology Services Market
Companies Mentioned
- Charles River Laboratories International, Inc.
- Creative Bioarray
- Creative Biolabs
- Cyprotex plc
- Environmental Bio-Detection Products Inc. (EBPI)
- Eurofins Scientific
- Gentronix Limited
- Jubilant Life Sciences Limited
- Laboratory Corp of America Holdings
- MB Research Laboratories
- Merck KGaA (Millipore Sigma)
- Shanghai Medicilon Inc.
- Sotera Health LLC
- Thermo Fisher Scientific Inc.
- Toxikon Corporation
For more information about this report visit https://www.researchandmarkets.com/r/ociyn4
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