Europe Genetic Testing Market Industry Insights, Trends, and Forecasts to 2029
Europe genetic testing market
is expected to gain market growth in the forecast period of 2022 to 2029. Data
Bridge Market Research analyses that the market is growing with a CAGR of 14.6%
in the forecast period of 2022 to 2029 and is expected to reach USD 12,730.46
million by 2029 from USD 4,344.02 million in 2021.
Europe genetic testing market is driven by the factors
such as the high prevalence of genetic disorders, growing technological
advancements in the genetic testing market which enhance its demand, as well as
increasing investment in research and development, which leads to market
growth. Currently, healthcare expenditure has increased across developed and
emerging countries which are expected to create a competitive advantage for
manufacturers to develop new and innovative genetic testing markets. However, the
high cost associated with genetic testing and stringent regulatory frameworks
for genetic testing.
Europe genetic testing market report provides details
of market share, new developments, and product pipeline analysis, the impact of
domestic and localized market players, analyses opportunities in terms of
emerging revenue pockets, changes in market regulations, product approvals,
strategic decisions, product launches, geographic expansions, and technological
innovations in the market. To understand the analysis and the market scenario
contact us for an analyst brief, our team will help you create a revenue impact
solution to achieve your desired goal. The scalability and business expansion
of the retail units in the developing countries of various region and
partnership with suppliers for safe distribution of machine and drugs products
are the major drivers which propelled the demand of the market in the forecast
period.
Genetic testing is a kind of medical test that
identifies changes in genes, chromosomes, or proteins. The outcome of a genetic
test can confirm or rule out a suspected genetic condition or aid in
determining a person’s chance of developing or passing on a genetic disorder.
Over 77,000 genetic tests are currently in use, and others are being developed.
The increasing innovations and technologies and rising
number of players in the market, and novel product launches are also propelling
the growth of the Europe genetic testing market.
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Europe
Genetic Testing Market Dynamics
Drivers
·
Growing prevalence of genetic
disorders
·
Increase In The Adoption Of Next
Generation Sequencing
As genomics-focused pharmacology continues to play a
greater role in the treatment of various chronic diseases, especially cancer,
next-generation sequencing (NGS) is evolving as a powerful tool for providing a
deeper and more precise insight into the molecular underpinnings of individual
tumors and specific receptors.
NGS offers advantages in accuracy, sensitivity, and
speed compared to traditional methods that have the potential to make a
significant impact on the field of oncology. Because NGS can assess multiple
genes in a single assay, the need to order multiple tests to identify the causative
mutation is eliminated.
Opportunities
·
Increasing Research and Development
The expense of money used by a country on its
healthcare and its growth rate over time is inclined by a wide variety of
economic and social factors including the financing arrangements and structure
of the organization of the health system. In particular, there is a strong
association between the complete income level of a country and how much the
population of that country spends on health care.
Europe
Genetic Testing Market Scope
Europe genetic testing market is segmented into type,
technology, diseases and end user. The growth amongst these segments will help
you analyse meagre growth segments in the industries and provide the users with
a valuable market overview and market insights to make strategic decisions to
identify core market applications.
Type
·
Diagnostic Testing
·
Prenatal Testing
·
New Born Screening
·
Predictive and Presymptomatic
Testing
·
Carrier Testing
·
Other Types
Technology
·
Polymerase Chain Reaction
·
DNA Sequencing (NGS-Based Testing)
·
Whole Genome Sequencing
·
Microarrays
·
Fluorescence In Situ Hybridization
(FISH)
·
Others
Diseases
·
Cancer
·
Sickle Cell Anaemia
·
Thalassemia
·
Rare Genetic Disorder
·
Fragile X Syndrome
·
Duchenne Muscular Dystrophy
·
Huntington's Disease
·
Cystic Fibrosis
·
Others
End User
·
Hospitals
·
Clinics
·
Diagnostic Centers
·
Private Clinics
·
Laboratory Service Providers
·
Private Laboratories
Gain More Insights
into the Europe
Genetic Testing Market Analysis,
Browse Summary of the Research Report@ https://www.databridgemarketresearch.com/reports/europe-genetic-testing-market
Genetic
Testing Market Regional
Analysis/Insights
The genetic testing market is analysed and market size
insights and trends are provided by country, type, technology, diseases and end
user as referenced above.
Germany are the major dominating countries in the
market due to the growing prevalence of genetic disorders amongst the
population in these countries. And they are dominating the genetic testing
market in terms of market share and market revenue and will continue to
flourish its dominance during the forecast period. This is due to genetic
defects and chromosomal aberrations in the population in the regions and rapid
research development is boosting the market.
The country section of the report also provides
individual market impacting factors and changes in regulations in the market
that impact the current and future trends of the market. Data points, such as
new and replacement sales, country demographics, disease epidemiology, and
import-export tariffs, are some of the major pointers used to forecast the
market scenario for individual countries. In addition, the presence and
availability of global brands and their challenges faced due to high
competition from local and domestic brands, and impact of sales channels are
considered while providing forecast analysis of the country data.
Competitive
Landscape and Genetic Testing Market Share Analysis
The genetic testing market competitive landscape
provides details about the competitors. Details included are company overview,
company financials, revenue generated, market potential, investment in research
and development, new market initiatives, global presence, production sites and
facilities, production capacities, company strengths and weaknesses, product
launch, product width and breadth, and application dominance. The above data
points provided are only related to the companies' focus on the genetic testing
market.
Some of the
major players operating in the genetic testing market are
·
Thermo Fisher Scientific Inc.,
·
Illumina, Inc.,
·
QIAGEN,
·
F. Hoffmann-La Roche Ltd.,
·
Myriad Genetics, Inc.,
·
Abbott,
·
Eurofins Scientific,
·
Biocartis,
·
Cepheid (A subsidiary of Danaher),
·
PacBio,
·
BioReference,
·
Natera, Inc.
·
Among others
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Research
Methodology:
Data collection and base year analysis are done using
data collection modules with large sample sizes. The stage includes obtaining
market information or related data through various sources and strategies. It
includes examining and planning all the data acquired from the past in advance.
It likewise envelops the examination of information inconsistencies seen across
different information sources. The market data is analysed and estimated using
market statistical and coherent models. Also, market share analysis and key
trend analysis are the major success factors in the market report. To know
more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research
team is data triangulation which involves data mining, analysis of the impact
of data variables on the market and primary (industry expert) validation. Data
models include Vendor Positioning Grid, Market Time Line Analysis, Market
Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing
Analysis, Company Market Share Analysis, Standards of Measurement, Global
versus Regional and Vendor Share Analysis. To know more about the research
methodology, drop in an inquiry to speak to our industry experts.
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