Genetic Testing Market Growth Prospects, Trends and Forecast Up to 2029
Global 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 15.3%
in the forecast period of 2022 to 2029 and is expected to reach USD 44,892.91
million by 2029 from USD 14,587.03 million in 2021.
Industry Analysis
Global genetic testing market is driven by the factors
such as 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 the genetic testing and stringent regulatory
frameworks for genetic testing.
Global 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 global genetic testing market.
Global Genetic
Testing Market Scope
Global 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 Anemia
·
Thalassemia
·
Rare Genetic Disorder
·
Fragile X Syndrome
·
Duchenne Muscular Dystrophy
·
Huntington's Disease
·
Cystic Fibrosis
·
Others
End User
·
Hospitals
·
Clinics
·
Diagnostic Centres
·
Private Clinics
·
Laboratory Service Providers
·
Private Laboratories
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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.
The countries covered in the global genetic market are
U.S., Canada, Mexico, Germany, France, Italy, U.K., Spain, Netherlands, Russia,
Switzerland, Turkey, Belgium and Rest of Europe, Japan, China, India, South
Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Vietnam,
Philippines and Rest of Asia-Pacific, Brazil, Argentina and Rest of South
America, Saudi Arabia, South Africa, UAE, Israel, Egypt, and Rest of Middle
East and Africa.
North America is the major dominating region 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.,
·
Invitae Corporation,
·
Bio-Rad Laboratories, Inc.,
·
PerkinElmer Inc.,
·
Illumina, Inc.,
·
QIAGEN,
·
F. Hoffmann-La Roche Ltd.,
·
Fulgent Genetics,
·
Myriad Genetics, Inc.,
·
Abbott,
·
Eurofins Scientific,
·
Sorenson Genomics,
·
BIO-HELIX,
·
Biocartis,
·
Cepheid (A subsidiary of Danaher),
·
PacBio,
·
ELITechGroup,
·
Genes2Me,
·
Eugene Labs,
·
Otogenetics,
·
Mapmygenome,
·
MedGenome,
·
BioReference,
·
Sema4 OpCo, Inc.,
·
Natera, Inc.
·
among others
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MAJOR TOC OF THE REPORT
Ø Chapter One: Introduction
Ø Chapter Two: Market Segmentation
Ø Chapter Three: Market Overview
Ø Chapter Four: Executive Summary
Ø Chapter Five: Premium Insights
Ø Chapter Six: Genetic Testing Market by Product
& Procedure type
Get TOC
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