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.
New York, Dec. 23, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Genetic Toxicology Testing Market by Product, By Application, COVID-19 Impact – Global Forecast to 2025" - https://www.reportlinker.com/p05999485/?utm_source=GNW
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.
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.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–35%, Tier 2–45%, and Tier 3–20%
• By Designation – C-level–35%, Director-level–25%, Others–40%
• By Region – North America–45%, Europe–30%, Asia Pacific–20%, Latin America- 3%, Middle East and Africa–2%
Key players in the RNA analysis/transcriptomics market
The key players operating in the genetic toxicology testing market include Thermo Fisher Scientific Inc. (US), Charles River Laboratories International, Inc. (US), Creative Bioarray (US), Laboratory Corp Of America Holdings (US), Jubilant Life Sciences Limited (India), Cyprotex PLC (UK), Merck KGaA (Germany), Shanghai Medicilon Inc. (China), Eurofins Scientific (Germany), Creative Biolabs (US), Toxikon Corporation (US), Environmental Bio-Detection Products Inc. (EBPI) (Canada), Gentronix Limited (UK), MB Research Laboratories (US), and Sotera Health LLC (US).
The report analyzes the genetic toxicology testing market and aims at estimating the market size and future growth potential of this market based on various segments such as product, application, and region.The report also includes a product portfolio matrix of various genetic toxicology testing products available in the market.
The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the global genetic toxicology testing market. The report analyzes this market by product, and application
• Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global genetic toxicology testing market
• Market Development: Comprehensive information on the lucrative emerging markets by product, and application
• Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global genetic toxicology testing market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global genetic toxicology testing market.
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