The genetic toxicology testing market is anticipated to observe a promising growth rate during the assessment period of 2020-2030. The rising demand for personalized medicines and the growing influence of drug discovery will bring tremendous growth opportunities for the genetic toxicology testing market.
The growing utilization of genetic toxicology testing across a wide number of applications in end-users like the food industry, agriculture industry, healthcare industry, cosmetics industry, and others will bring immense growth prospects for the genetic toxicology testing market. On the basis of product, the genetic toxicology testing market can be classified into services, assays, and reagents and consumables.
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Increased Funding from Government Bodies to Help in Accelerating the Growth of the Genetic Toxicology Testing Market
The government bodies of numerous countries are increasing funding in the life sciences sector. The enhanced funding measures are being taken for increasing the research and development activities. All these aspects eventually help in increasing the growth rate of the genetic toxicology testing market to a considerable extent.
Escalating Demand for Humanized Animal Models to Add Extra Stars of Growth
The use of humanized mice has increased exponentially for diverse biomedical research applications. The rise in the trials for identifying the effect of various drugs on the body will bring immense growth prospects for the genetic toxicology testing market.
North America to Reign Supreme in Terms of Regional Contribution
North America’s genetic toxicology testing market will observe a dominant streak between 2020 and 2030 on the back of the advancements in the life sciences sector and the rising investment opportunities. The inclining expenditure of the government bodies on the life sciences sector will also serve as a vital growth factor.
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Some well-entrenched players in the genetic toxicology testing market are MB Research Laboratories, Jubilant Life Sciences Limited, Environmental Bio-Detection Products Inc., and Charles River Laboratories International, Inc.