Westford, USA, Nov. 28, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the genetic toxicology testing market size will attain a value of USD 3.84 billion by 2031, with a CAGR of 12.7% over the forecast period (2024-2031). Growing use of personalized medicine and increasing emphasis on genetic health improvement are estimated to bolster genetic toxicology testing market growth in the future. Advancements in genetic technologies and the imposition of stringent mandates to promote genetic toxicology testing are also creating new growth opportunities.
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Browse in-depth TOC on “Genetic Toxicology Testing Market”
- Pages – 219
- Tables – 64
- Figures – 80
Genetic Toxicology Testing Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 1.48 Billion |
| Estimated Value by 2031 | $ 3.84 Billion |
| Growth Rate | Poised to grow at a CAGR of 12.7% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Product, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Rising emphasis on genetic testing and genetic health |
| Key Market Opportunities | Adoption of in-vitro genetic toxicology testing |
| Key Market Drivers | Imposition of strict regulations to promote genetic toxicology testing |
Genetic Toxicology Testing Market Segmental Analysis
The global genetic toxicology testing market is segmented on the basis of Type, Product, Application and region.
By Type, the market is segmented into In Vitro, In Vivo.
By Product, the market is segmented into Reagents & Consumables, Assays, Services.
By Application, the market is segmented into Pharmaceutical & Biotechnology, Food Industry, Cosmetics Industry, Other.
By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Recurring Use of Reagents & Consumables Helps them Bring in Major Revenue for Companies
Reagents and consumables are highly essential components of any genetic toxicology testing procedure. From sample preparation to data analysis, reagents and consumables play an essential role in every aspect of the genetic toxicology testing process. The recurring use of reagents and consumables allows them to account for a dominant genetic toxicology testing market share in the future.
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Rising Demand for Safe Cosmetic Products Promotes Use of Genetic toxicology testing in Cosmetic Applications
Increasing consumer awareness regarding safe products and rising spending on safe cosmetic products are projected to bolster the adoption of genetic toxicology testing in cosmetic applications. The imposition of stringent testing mandates for cosmetics and bans on the use of toxic chemicals are also slated to bolster the demand for genetic toxicology testing in this segment going forward.
Presence of Leading Biotechnology Companies Helps North America Emerge as a Dominant Region
North America is home to some of the most prominent biotechnology and pharmaceutical companies around the world, which makes it the top market for genetic toxicology testing. High investments in medical R&D, presence of a developed healthcare infrastructure, and high demand for genetic technologies are bolstering the dominance of this region. The United States is slated to be the leading market in the North American region through 2031.
Genetic Toxicology Testing Market Insights:
Drivers
- Growing emphasis on genetic testing and genetic health
- Rising use of personalized and preventive healthcare measures
- Imposition of stringent mandates to promote genetic toxicology testing
Restraints
- Complexity in result interpretation
- Ethical and privacy concerns
- Limited detection capabilities
Prominent Players in Genetic Toxicology Testing Market
- Covance Inc. (USA)
- Eurofins Scientific SE (Luxembourg)
- Charles River Laboratories International Inc. (USA)
- SGS SA (Switzerland)
- Merck KGaA (Germany)
- Laboratory Corporation of America Holdings (LabCorp) (USA)
- Thermo Fisher Scientific Inc. (USA)
- Toxikon Corporation (USA)
- WuXi AppTec (China)
- Genetic Toxicology Association (GTA) (USA)
- BioReliance Corporation (USA)
- Intertek Group plc (UK)
- Shanghai Medicilon Inc. (China)
- Bio-Rad Laboratories, Inc. (USA)
- MPI Research (USA)
- Cell Systems Corporation (USA)
- CeeTox Inc. (USA)
- Gentronix Ltd. (UK)
- LabGenius Limited (UK)
- Molecular Toxicology Inc. (USA)
- Ricerca Biosciences LLC (USA)
- ATCC (American Type Culture Collection) (USA)
- Coy Laboratory Products Inc. (USA)
- Promega Corporation (USA)
- Creative Bioarray (USA)
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Key Questions Answered in Genetic Toxicology Testing Market Report
- Why is demand for genetic toxicology testing rising rapidly?
- Which region leads the global genetic toxicology testing market forecast?
- How do ethical concerns slow down the industry?
- Which is the fastest-growing segment as per this genetic toxicology testing market analysis?
This report provides the following insights:
Analysis of key drivers (emphasis on improving genetic testing, imposition of stringent mandates for genetic testing), restraints (ethical and privacy concerns, complexity in result interpretation), and opportunities (adoption of in-vitro genetic toxicology testing) influencing the growth of genetic toxicology testing market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the genetic toxicology testing market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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