Genetic Toxicology Testing Market: Expected Rapid Growth, Industry Size, And Share In 2028

NOIDA, India - May 24, 2023 - PRLog -- The global genetic toxicology testing market is anticipated to grow at an impressive rate in the forecast period 2024-2028. This can be ascribed to the increasing development of novel drugs and vaccines for the treatment of chronic diseases. Additionally, growing application of genetic toxicology testing in various end use industries like cosmetic, food and others, especially in the developed countries in the North America and Europe, is expected to create lucrative opportunities for the market growth in coming years. Besides, increasing approval of novel drugs by regulatory bodies and increasing investments by government, are further expected to support the market growth.

Moreover, growing popularity of humanized mice model in various biomedical research applications is expected to drive the market growth in the coming years. Various grants and fundings are being offered to companies, academic & research institutions who are working to develop humanized mice models which accurately represent human responses to cancer and different cancer therapies.

However, lack of trained professionals can restrict the market growth. Similarly, the high cost associated with research and development may hamper the genetic toxicology testingmarket growth during the forecast period. Also, lack of in vitro models to study complex endpoints and approval duration of the drug delivery process in emerging countries, can further restrict the growth of global genetic toxicology testingmarket. Besides, ethical concerns of testing on animals can further slowdown the market growth, since various non-governmental organizations and animal care committee's raise a lot of concern regarding the same.

Global genetic toxicology testingmarket can be segmented by instrument type, by site, by application and by region.

Based on component, the global genetic toxicology testingmarket can be segmented into Reagents & Consumables, Assays, and Services. The services segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to growing research and development activities in the pharmaceutical industry, along with the growing government investments in the field of life sciences.
Major companies operating in global genetic toxicology testingmarket are:

• Thermo Fisher Scientific, Inc.
• Eurofins Scientific SE
• Jubilant Life Sciences Limited
• Syngene International Limited
• Gentronix Ltd.
• Inotiv Inc.
• Charles River Laboratories International, Inc.
• Merck KGaA
• Toxikon Corporation
• Gentronix Limited

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