The Business Research Company’s Genetic Toxicology Testing Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 20, 2024 /EINPresswire.com/ -- The genetic toxicology testing market has demonstrated rapid growth in recent years, with expectations to continue expanding significantly. Starting from $1.48 billion in 2023, the market is forecasted to grow to $1.63 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10%. This growth is driven by increasing public health concerns, globalization, the rise of personalized medicine, stringent testing requirements, and the growing number of drugs in development.

Rising Demand for Personalized Medicine Drives Market Growth
The genetic toxicology testing market is set to benefit from the rising demand for personalized medicine. Personalized medicine tailors healthcare decisions and treatments to individual patients based on genetic information, biomarker diagnostics, and disease susceptibility. This approach has gained momentum with advancements in genetic research, disease understanding, and the FDA's approval of personalized medicines for rare diseases. Genetic toxicology testing plays a crucial role by assessing genetic variability, susceptibility to genotoxic agents, and treatment responses, thereby supporting personalized treatment plans.

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Innovative Drug Screening Platforms Shape Market Trends
Leading companies such as F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., and Abbott Laboratories are pioneering advances in genetic toxicology testing through innovative drug screening platforms. These platforms, such as phenotypic drug screening, enhance the accuracy and efficiency of identifying genetic toxins. For instance, Creative Biogene recently launched zebrafish disease models that mimic human genetic diseases, offering insights into drug toxicity and safety assessments during drug development.

Major Players in the Genetic Toxicology Testing Market
Key companies driving innovation in the genetic toxicology testing market include Laboratory Corporation of America Holdings, Eurofins Scientific SE, SGS SA, WuXi AppTec, and Intertek Group plc. These firms are committed to advancing testing methodologies, integrating omics technologies, and enhancing risk assessment capabilities to meet evolving regulatory standards and market demands.

Segments of the Genetic Toxicology Testing Market
• Type: In Vitro, In Vivo
• Product: Services, Reagents And Consumables, Assays
• Application: Healthcare Industry, Food Industry, Cosmetics Industry, Agriculture Industry, Other Applications

North America Leads, Asia-Pacific Emerges as Fastest-Growing Region
In 2023, North America dominated the genetic toxicology testing market, driven by robust healthcare infrastructure and stringent regulatory oversight. However, Asia-Pacific is anticipated to witness the highest growth rate in the forecast period, fueled by increasing environmental and health concerns and the adoption of advanced testing technologies.

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Genetic Toxicology Testing Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Genetic Toxicology Testing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on genetic toxicology testing market size, genetic toxicology testing market drivers and trends, genetic toxicology testing market major players, competitors' revenues, market positioning, and market growth across geographies. The genetic toxicology testing market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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