Report Ocean presents a new report on Genetic Toxicology Testing Market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future.
Global Genetic Toxicology Testing Market is valued approximately at USD 1.09 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.2% over the forecast period 2020-2027.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
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Genetic toxicology deals with the effects of Biological, Physical and chemical agents on the heredity of living organisms. Genetic toxicology is the study of the toxic effects of damage to deoxyribonucleic acid (DNA). In the research and development sector genetic toxicology plays a pivotal role as numerous tests are conducted to design and develop a drug. These test aids in discovering new vaccines and drugs. The increase in drug discovery and development drives the market growth. As with the increased number of Pharmaceutical R&D activities and rising investments in medical research propels the demand for genetic Toxicology. Furthermore, the rising application of Genetic Toxicology Testing in a range of end-use industries such as healthcare industry, cosmetic industry, food industry and others drives the market growth. The growth in the food processing industry and the demand for cosmetics drives the market for genetic Toxicology. As of 2018, there were 430 cosmetics companies in France, according to FEBEA (French trade organization for cosmetics and perfume companies), while the overall local cosmetics production in the country amounted to USD 21.75 billion in 2016, which increased to USD 22.18 billion in 2017 and to USD 22.23 billion in 2018. According to Cosmetica Italia, the Italian Association of Cosmetics Industries, the country has 123,000 cosmetics companies with a total local cosmetics production of USD 11.6 billion in Italy in 2016, which grew to USD 12.3 billion in 2017. However, the lack of validated in vitro models to study complex endpoints impedes the market growth for Genetic Toxicology during the forecast period. Although, Rising global demand for humanized animal models presents a lucrative opportunity for the market.
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The regional analysis of global Genetic Toxicology Testing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing development of structure-based drug designs, growing academic and government investments in genomics and proteomics research, Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as high biopharmaceutical R&D expenditure, and the emerging adoption of advanced technologies would create lucrative growth prospects for the Genetic Toxicology Testing market across Asia-Pacific region.
Major market player included in this report are: Beyond Meat
Thermo Fisher Scientific, Inc.
Charles River Laboratories International, Inc.
Laboratory Corp Of America Holdings
Jubilant Life Sciences Limited
Shanghai Medicilon Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Reagents & Consumables
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Rest of the World
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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