The global genetic toxicology testing market size is projected to surpass USD 2.3 billion by 2027 growing at a CAGR of 10.3% over forecast period 2020 to 2027.
The Growth in this market is primarily driven by the 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, are expected to offer significant growth opportunities for the players operating in the global genetic toxicology testing market.
The COVID-19 outbreak has boosted research activity due to efforts to understand the dynamics of the infection. We estimate that the genetic toxicology testing adoption, along with personalized medicine, will grow at a stable pace in the next five years. Due to the increase in research activity, both the availability of funding for research and the demand for high-throughput assays are expected to grow.
Driver: Increased number of pharmaceutical R&D activities
The primary goal of R&D activities is to increase the overall chances of approval of Phase I drug candidates by increasing the acceptance of compounds in the preclinical stages. To achieve this, intensive R&D activities are conducted in the early stages of drug development. This, in turn, drives the demand for genetic toxicology services. Increased R&D investments in the initial stages of drug development are also expected to increase the use of in vivo toxicology methods before the drug reaches the expensive clinical stages. This also leads to a rise in demand for genetic toxicology services, thereby fueling the growth of the market.
Challenge Regulations and laws to ensure ethical use of animals in research activities
Government regulations in a number of countries require geno toxicology testing on animals as a condition for imports or sales of pesticides, industrial chemicals, drugs, medical devices, vaccines, genetically modified food, and some consumer products. Every year, millions of animals, including mice, rats, frogs, dogs, cats, rabbits, hamsters, guinea pigs, monkeys, fish, and birds, are used for drug development. This has led to the establishment of several animal ethical review committees in different countries. These committees comprise animal care committees, institutional animal care and use committees, and animal ethics committees. One such committee is People for the Ethical Treatment of Animals (PETA).
The services segment is expected to grow at the highest CAGR during the forecast period
Based on product, the genetic toxicology testing market is segmented into reagents & consumables, assays, and services. The services segment is projected to witness the highest growth in the market during the forecast periods (2020-2027). Growth in this segment is driven mostly by 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).
The healthcare industry segment is expected to account for the largest share of the genetic toxicology testing market
Based on application, the market is segmented into the healthcare industry (pharmaceutical & biotechnology), food industry, cosmetic industry, and others (agriculture and chemical industries). The healthcare industry segment accounted for the largest share of the market in 2019. One of the major factors driving this segment's growth is the mandatory preclinical safety evaluation for drug registration, coupled with the rising investments in the research of new molecules to meet the current and future healthcare challenges. Additionally, drug failures in the late stages, which result in huge economic losses, are also expected to increase the demand for in vitro tests to screen potentially toxic molecules during drug development.
Asia Pacific is expected to account for the highest CAGR for players operating in the genetic toxicology testing market
The Asia Pacific market is expected to grow at the highest CAGR from 2020 to 2027. Factors such as increasing investments by regional governments and industries, growing gene-based research, and rising awareness about personalized therapeutics are expected to drive the growth of this regional market during the forecast period. Furthermore, the increasing focus on Asia Pacific countries due to their low-cost manufacturing is expected to provide growth opportunities for manufacturers.
The prominent players in this genetic toxicology testing market are Thermo Fisher Scientific, Inc. (US), >Charles River Laboratories International, Inc. (US) Laboratory Corp Of America Holdings (US) Eurofins Scientific (Germany), Jubilant Life Sciences Limited (India), Merck KGaA (Germany), Toxikon Corporation (US), and Gentronix Limited (UK).
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