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Genetic Toxicology Testing Market Research 2024-2034: Increased R&D Activities, Strategic Collaborations, and a Focus on Personalized Therapy Boosts Growth

1. Market growth driven by increased genetic disease incidence and R&D activities. 2. Strategic partnerships enhance access to genetic toxicology testing technologies. 3. FDA approved Biogen's QALSODYT for ALS, aiding patient's treatment access. 4. North America leads genetic toxicology testing revenue; Asia Pacific shows rapid growth. 5. Market projected to grow from $1.83B in 2023 to $6.16B by 2034.

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The approval of QALSODYT reflects positively on BIIB's prospects for growth. Previous FDA approvals have led to increased stock performance.

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FDA approvals significantly enhance marketability and sales potential for BIIB. The direct linkage to BIIB's key product provides substantial relevance to its stock performance.

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The approval of new therapies can drive sustained demand over time. Historical trends show that new product launches in biotech positively affect long-term stock valuation.

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The market is expected to rise due to rising genetic disease incidence, advancements in genetic toxicology testing technologies, increased R&D activities, strategic collaborations, and a focus on personalized therapy. Strategic collaborations are a significant driver in the global genetic toxicology testing market, as they enhance access to advanced testing technologies and improve patient outcomes. A notable example of this is the partnership formed in May 2023 between Thermo Fisher Scientific, Inc. and Pfizer. This collaboration aims to enhance local access to next-generation sequencing for lung and breast cancer. North American region is anticipated to have the highest revenue share during the forecast period owing to the presence of leading pharmaceutical companies, advanced healthcare infrastructure, and stringent regulatory frameworks for genetic toxicology testing. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to increasing investment in biotechnology and pharmaceuticals, a growing emphasis on research and development, and rising awareness of genetic toxicology among regulatory bodies and consumers. In April 2023, Biogen Inc. (Nasdaq: BIIB) announced that the U.S. Food and Drug Administration (FDA) approved QALSODYT (tofersen) 100 mg/15mL injection for the treatment of amyotrophic lateral sclerosis (ALS) in adults with a mutation in the superoxide dismutase 1 gene. This indication has been granted accelerated approval based on a reduction in plasma neurofilament light chain (NfL) levels reported in patients treated with QALSODY. Continued approval for this indication may be predicated on clinical benefit being demonstrated in confirmatory trials.1 Tofersen's Phase 3 ATLAS study in persons with presymptomatic SOD1-ALS will serve as the confirmatory trial. By providing faster and more precise testing, the partnership seeks to facilitate tailored treatments in regions where advanced diagnostics were previously limited. Such initiatives not only boost the availability of genetic toxicology testing but also foster innovation and improve the overall quality of healthcare, ultimately contributing to the growth of the market.By product, the service segment accounted for the highest revenue-grossing segment in the global genetic toxicology testing market in 2023 owing to the increasing demand for specialized testing services, technological advancements, and the growing emphasis on regulatory compliance in pharmaceutical and environmental sectors. For instance, in April 2023, Nelson Labs gained Accreditation Scheme for Conformity Assessment (ASCA) Accreditation from the United States Food and Drug Administration, bolstering the company's confidence in providing safe genotoxicity testing. Additionally, the reagents & consumables segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for high-quality testing materials, advancements in diagnostic technologies, and the increasing focus on research and development activities in genetic toxicology.By type, the in vitro segment accounted for the highest revenue-grossing segment in the global genetic toxicology testing market in 2023 owing to the advantages of reduced costs, improved accuracy, and the ability to provide rapid results compared to traditional in vivo testing methods. For instance, in July 2023, Toxys announced a training workshop for the ToxTracker genotoxicity assay. The workshop will take place in October 2023 in Oegstgeest, the Netherlands. Additionally, the in vivo segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing focus on comprehensive safety assessments and the growing demand for testing in real biological systems to better evaluate the effects of substances on living organisms.By assay, the comet assay segment accounted for the highest revenue-grossing segment in the global genetic toxicology testing market in 2023 owing to the its sensitivity in detecting DNA damage, ease of use, and widespread acceptance in regulatory testing protocols. For instance, MilliporeSigma, a subsidiary of Merck KGaA, has created a first-of-its-kind "all-in-one" CHO genetic stability assay, according to an April 16 announcement. According to the company, the Aptegra platform reduces biosafety testing time by two-thirds, speeding up the commercialization process for biotech and pharma companies. Additionally, the genetic mutation test segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of genetic disorders, advancements in genetic testing technologies, and the rising demand for personalized medicine.By end-user, the pharmaceutical and biotechnology segment accounted for the highest revenue-grossing segment in the global genetic toxicology testing market in 2023 owing to the robust investment in drug development, stringent regulatory requirements, and the need for comprehensive safety evaluations of new therapeutics. For instance, in June 2023, the National Cancer Institute (NCI) initiated a significant precision medicine cancer effort to investigate the efficacy of treating adults and children with new medication combinations that target specific tumor changes. The Combination Therapy Platform Trial with Molecular Analysis for Therapy Choice (ComboMATCH) is the largest program of its type to explore cancer medication combinations based on tumor biology. Additionally, the food industry segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for food safety, rising consumer awareness of genetically modified organisms (GMOs), and stringent regulatory standards for food testing. Report AttributeDetailsNo. of Pages200Forecast Period2023 - 2034Estimated Market Value (USD) in 2023$1.83 BillionForecasted Market Value (USD) by 2034$6.16 BillionCompound Annual Growth Rate11.6%Regions CoveredGlobal Report Scope: Base Year: 2023Forecast Period: 2024-2034Study CoverageMarket Forecast by Product, Type, Assay, and End-UserMarket Forecast for 5 Regions and 17+ CountriesNorth America (U.S. and Canada)Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)Latin America (Brazil, Mexico, Argentina, Rest of LATAM)MEA (South Africa, GCC, Rest of MEA)20% Free Customization Available to Meet Your Exact Requirement. Company Profiles Thermo Fisher Scientific Inc.Covance Inc. (LabCorp)Charles River LaboratoriesEurofins ScientificSGS S.A.Pacific BioLabsBioReliance (Merck KGaA)Genetic Toxicology Testing Services (GTT)Intertek Group plcQ2 SolutionsBioAgilytix LabsEnvigoWuXi AppTecMolecular Toxicology Inc.Nutritional Research Institute. Genetic Toxicology Testing Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn) Reagents & ConsumablesAssays KitServices Genetic Toxicology Testing Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn) In VitroIn Vivo Genetic Toxicology Testing Market Analysis & Forecast by Assay 2023 - 2034 (Revenue USD Bn) Comet AssayMicronucleus AssayChromosomal Aberration TestGenetic Mutation TestOthers Genetic Toxicology Testing Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn) Pharmaceutical & BiotechnologyFood IndustryCosmetics IndustryOther Genetic Toxicology Testing Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn) North AmericaU.S.CanadaEuropeGermanyFranceUKSpainItalyRest of EuropeAsia PacificChinaJapanIndiaAustraliaSouth KoreaRest of APACLatin AmericaBrazilMexicoArgentinaRest of LATAMMiddle East & AfricaSouth AfricaGCCRest of MEA For more information about this report visit https://www.researchandmarkets.com/r/xq65re About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Global Genetic Toxicology Testing Market Global Genetic Toxicology Testing Market Global Genetic Toxicology Testing Market

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