GENETIC TOXICOLOGY TESTING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Genetic Toxicology Testing Market Size and Trends

The global genetic toxicology testing market is estimated to be valued at USD 1.41 Bn in 2024 and is expected to reach USD 3.33 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 13.1% from 2024 to 2031. The market is witnessing significant growth owing to strict safety regulations for new drug development and growing concerns over the toxicity of chemicals. Several developments such as growing contract research organizations and adoption of new technologies like next generation sequencing and cell imaging systems are helping drive the market growth. However, the high cost associated with genetic toxicology tests and lack of skilled professionals poses a major challenge for the market growth.

To learn more about this report, Request sample copy

The genetic toxicology testing market is expected to witness lucrative growth over the forecast period. Increasing investments by the pharmaceutical and biotechnology companies in drug discovery and development is creating the demand for genetic toxicology services. In addition, rising investments by governments worldwide to promote healthcare initiatives is also boosting the market growth. However, lengthy approval timeframes and processes continue to remain a key challenge for seamless market growth.

Increasing research activities on new compounds and formulations

Global genetic toxicology testing market has been witnessing strong growth due to increasing investments by major players in researching new formulations and novel compounds. Stringent regulations around drug safety and efficacy testing have prompted pharmaceutical companies to extensively evaluate new chemical entities for their potential to induce genetic damage. The COVID-19 pandemic has also highlighted the need for thorough pre-clinical examination of vaccines and therapeutics before human trials. There is a keen focus on developing advanced testing methods beyond traditional in vitro and in vivo assays. Areas such as human cell-based 3D tissue models, organ-on-chip microfluidic platforms and human stem cell-derived systems are being explored to improve predictability and translate genotoxic findings to humans early on. For example, the National Institutes of Health has funded several research projects over 2021-22 aimed at establishing human organotypic cultures incorporated with micro physiological readouts for genetic toxicology risk assessment. This is hoped to bridge existing gaps between animal and human responses. Moreover, the need to slash testing timelines and costs have fueled the adoption of rapid genomics and high-throughput screening approaches coupled with machine learning algorithms for big data analysis. For instance, in May 2022, Pfizer's establishment of a global drug development center at the IIT Madras Research Park in Chennai marks a significant consolidation of critical R&D capabilities. This center will focus on developing active pharmaceutical ingredients (APIs) and finished dosage forms (FDFs) for specialized products, including complex formulations, controlled-release dosage forms, device-combination products, lyophilized injections, powder-fill products, and ready-to-use formulations.

To learn more about this report, Request sample copy

Growing Prevalence of Diseases

With rising environmental pollution and changing lifestyles, the prevalence of chronic diseases like cancer has increased significantly all over the world. According to various studies, almost one in two men and one in three women worldwide develop cancer during their lifetime. Genetic factors play an important role in the development of many diseases. Understanding the genetic causes and mechanisms helps in early detection, prevention, and effective treatment of diseases. Growing awareness among people regarding genetics and diseases has propelled the demand for various genetic toxicology tests. These tests help assess the toxicity of various chemicals and agents on human genes. They are crucial in developing safer drugs and determining environmental and occupational hazards. Pharmaceutical companies extensively rely on genetic toxicology studies to ensure drug safety before clinical trials. Stringent regulations regarding drug development and approval processes have further boosted the need for such tests.