GENETIC TOXICOLOGY TESTING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
The global genetic toxicology testing market witnessed a steady growth during the historic period (2019-2028) and is projected to see positive gains in the forecast period (2024-2031. This can be primarily attributed to rising awareness about the safety assessment of chemicals and consumer products. Factors such as increasing instances of cancer related diseases, stringent regulations especially in pharmaceutical industry, and rapid advancements of high throughput technologies will serve as high impact rendering drivers for the genetic toxicology testing industry. However, complexities associated with the assessment of genotoxicity endpoints continue to restrict the market growth to a certain extent. Overall, the global genetic toxicology testing market is poised to exhibit a promising 13.1% CAGR during 2024-2031.
Market Dynamics:
The global genetic toxicology testing market is driven by rising incidences of cancer worldwide translating to the increasing demand from the pharmaceutical and biotechnology sectors for safe chemical/drug development. As per WHO, the cancer burden is projected to reach 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. Furthermore, stringent guidelines mandating early safety assessment by regulatory bodies like USFDA, boosts adoption. However, market growth can be challenged due to complexities in deciphering genotoxicity endpoints during preclinical evaluation and technical limitations of few traditional testing methods. Key market players are investing in R&D to develop high throughput screening assays and services to address such issues opening opportunities.
Key Features of the Study:
- This report provides in-depth analysis of the global genetic toxicology testing market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global Genetic Toxicology Testing market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Charles River, Thermo Fisher Scientific, F. Hoffmann-La Roche Ltd, Jubilant Life Sciences, Cyprotex, Merck KGaA, Gentronix Limited, BioReliance, Creative Biolabs
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global genetic toxicology testing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global genetic toxicology testing market
Detailed Segmentation-
Table of Contents
*Browse 32 market data tables and 28 figures on "Genetic Toxicology Testing Market” - Global forecast to 2031
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