The global Genetic Toxicology Testing Market size is expected to reach USD 3.21 billion by 2030, according to a new study by Polaris Market Research. The 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” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
Genetic toxicology testing is an in-depth study of the pharmaceutical and biotechnology sector where harmful substances are detected in the body and removed. Furthermore, increasing R&D and pharmaceutical activities and opposing animal testing are the factors that contribute to the industry’s growth.
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In addition, the growing geriatric population across nations such as India, Japan, Brazil, Mexico, and China are likely to positively impact the demand for genetic toxicology testing over the forecast period. Many government initiatives and investments increased the development activities in the pharmaceutical sector.
The market was positively impacted during the COVID-19 pandemic owing to the increasing test of SARS-CoV-2. FDA approved many toxicology kits during COVID-19 emergencies, such as in vitro toxicology assays and consumables. With COVID-19, there was an increase in profiling studies, COVID-19 testing, and healthcare awareness among people.
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 the 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.
- Major players operating in the industry include 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.
Polaris Market Research has segmented the genetic toxicology testing market report based on type, product, application, and region:
Genetic Toxicology Testing, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- In Vitro
- In Vivo
Genetic Toxicology Testing, Product Outlook (Revenue – USD Billion, 2018 – 2030)
- Reagents & Consumables
Genetic Toxicology Testing, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Healthcare Industry
- Food Industry
- Cosmetics Industry
- Agriculture Industry
Genetic Toxicology Testing, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa