Genetic Toxicology Testing Market in 2021 | Detailed Analysis Report with Accurate Forecast
There has been augmented focus on personalized medicines and drug discovery utilizing in vitro methods. In addition, the demand for humanized animal models is also witnessing a rise, which is likely to open plethora of opportunities for the players in the global genetic toxicology testing market in the near future. However, reluctance of regulatory authorities to go for alternative methods for efficacy and safety, shortage of in vitro models, and failure to demonstrate the intricacies of in vivo conditions are expected to restrain market growth.
Growth in the global genetic toxicology testing market is likely to be driven by increased research and development activities on early toxicity detection, opposition to animal testing, and increased research activities on pharmaceuticals. The growing focus on personalized medicine using in vitro methods and discovery of drugs is anticipated to provide substantial growth opportunities for the participants of global genetic toxicology testing market in the forthcoming years.
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This study titled “global genetic toxicology testing market” contains a detailed outline of the important market segments, namely product, application, and regional markets. It also makes an inclusion of the analysis of the competition prevailing in the global genetic toxicology testing market over the forecast timeline, from 2020 to 2030.
Global Genetic Toxicology Testing Market: Key Trends
In several countries, government regulations require geno toxicology testing to be done on animals as a pre-requisite for sale and imports of certain consumer items, genetically modified food, vaccines, medical devices, drugs, industrial chemicals, and pesticides. Each year, millions of animals, such as birds, monkeys, guinea pigs, hamsters, rabbits, cats, mice, frogs, and rice utilized for the performance of drug development. This has resulted in the setting up of various animal ethical review committees in several nations across the globe. These agencies include animal ethics committees, institutional animal care and use committees, and animal care committees are likely to work in favor of the global genetic toxicology testing market in the years to come.
There have been augmented funding by governments in the life sciences research field, increased emphasis on research and development activities in the pharmaceutical industry, and a rise in the adoption of research with integrated omics studies. These factors have resulted in augmented outsourcing of services to CROs (contract research organizations), which is likely to work in favor of the market over the analysis timeline, from 2020 to 2030.
Global Genetic Toxicology Testing Market: Competitive Assessment
In the recent past, there have been come futuristic and pertinent developments in the global genetic toxicology testing market. Several major market participants are making serious efforts for more revenue and greater reach. Continuous and extensive research and development activities are foreseen to play vital role in the expansion of the share of the market and increasing revenue for the market players.
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Some of the well-known players in the global genetic toxicology testing market are listed below:
- Charles River Laboratories International, Inc.
- Jubilant Life Sciences Limited
- Laboratory Corp Of America Holdings
- Environmental Bio-Detection Products Inc
- Thermo Fisher Scientific, Inc.
- MB Research Laboratories
Global Genetic Toxicology Testing Market: Regional Assessment
North America is estimated to hold a sizeable chunk of the global genetic toxicology testing market. Augmented government and academic investment in proteomics and genomics research and development of structure-based drug designs in the region is expected to work in favor of the regional market. Besides, high expenditure on biopharmaceutical research and increasing adoption of latest technologies is likely to propel growth of the genetic toxicology testing market in North America.
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