Genetic Toxicology Testing Market Report 2022: Increasing Use Of Pharmacogenomics And Personalized Medicines Drives Growth - ResearchAndMarkets.com
The "Genetic Toxicology Testing Market Size, Share & Trends Analysis Report by Type (In-vitro, In-vivo), by Product (Reagents & Consumables, Assays, Services), by Application, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering
DUBLIN--(BUSINESS WIRE)--Oct 31, 2022--
The "Genetic Toxicology Testing Market Size, Share & Trends Analysis Report by Type (In-vitro, In-vivo), by Product (Reagents & Consumables, Assays, Services), by Application, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global genetic toxicology testing market size is expected to reach USD 3.57 billion by 2030. The market is anticipated to expand at a CAGR of 12.7% from 2022 to 2030. The rising usage of personalized medicines, combined with the development of cell and gene therapy across the globe is enhancing the demand for genotoxicology.
For instance, the U.S. FDA has designed guidance documents for the manufacturers of cell and gene therapy. According to the guidance, information on the identification of toxicities and physiologic parameters in preclinical studies can assist in guiding clinical monitoring for the investigational product.
Increasing implementation of pharmacogenomics to support personalized medicine usage and reduced risk of adverse drug toxicity is considered to have a significant impact on the growth of the industry. Moreover, organizations, such as the Dutch Pharmacogenetics Working Group (DPWG), Clinical Pharmacogenetics Implementation Consortium (CPIC), the French National Network of Pharmacogenetics, and the Canadian Pharmacogenomics Network for Drug Safety (CPNDS), have issued clinical guidelines with a primary focus on the pharmacogenomics testing interpretation and recommendation on therapeutic specific drug-gene pairs.
Similarly, the market players are indulging in various strategies to expand their footprint in multiple segments. For instance, in November 2021, Labcorp announced the acquisition of Toxikon, a Contract Research Organization (CRO) with offerings in nonclinical testing services. Through this acquisition, Labcorp is anticipated to strengthen its toxicology business and Toxikon's location enables Labcorp to engage with known biotech and pharmaceutical companies in the region for non-clinical work.
The rising demand for novel food and its imports is expected to be a contributor to market growth. Charles River Laboratories is one of the major players offering toxicology assessments on novel foods. They offer novel food analysis including genotoxicity, which consist of in vivo micronucleus test, Ames study, In Vitro Mammalian Cell Micronucleus, and in the vivo comet assay. Similarly, in January 2021, EFSA published its evaluation of insect-derived food. It is the first kind of assessment conducted by the institution on the insect product as a novel food. Every year, EFSA receives a large number of applications, consisting of herbal products based on algae foods, plants, and non-indigenous fruits.
On the other hand, the ability to retrieve information through genetic toxicology is limited. According to the Pathology Tests Explained organization, genetic tests offer information regarding the specific diseases/gene that is being tested. It does not cover information about other genetic diseases that might be present but have not been tested. Similarly, it cannot identify all the variations of genes that cause the diseases, and also it does not showcase the severity of the diseases. Hence, these limitations are anticipated to hamper the growth of the genetic toxicology industry.
Market Dynamics
Market Drivers
Market Restraints
Key Topics Covered:
Chapter 1 Research Methodology
Chapter 2 Market Definitions
Chapter 3 Executive Summary
Chapter 4 Global Genetic Toxicology Testing Market Variables, Trends, & Scope
Chapter 5 Genetic Toxicology Testing Market - Segment Analysis, by type, 2018 - 2030 (USD Million)
Chapter 6 Genetic Toxicology Testing Market - Segment Analysis, by Product, 2018 - 2030 (USD Million)
Chapter 7 Genetic Toxicology Testing Market - Segment Analysis, by Application, 2018 - 2030 (USD Million)
Chapter 8 Genetic Toxicology Testing Market: - Segment Analysis, by Region, 2018 - 2030 (USD Million)
Chapter 9 Competitive Landscape
Companies Mentioned
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/31/2022 08:17 AM/DISC: 10/31/2022 08:17 AM
http://www.businesswire.com/news/home/20221031005408/en
