Genetic Testing Market: Global Industry Analysis and Forecast 2021-2027: by Type, Disease, Technology and Region.

Genetic Testing Market is anticipated to reach US$ 31.9 Bn. by 2027 from US$ 14.9 Bn. in 2020 at a CAGR of 11.6% during a forecast period. Genetic tests are medical instruments that come in the form of kits and panels and are used to diagnose genetic illnesses in people. Furthermore, blood samples from patients are collected for examination. Furthermore, numerous sorts of tests are employed in the diagnosis of genetic illnesses. Predictive and presymptomatic testing, carrier testing, prenatal & neonatal testing, diagnostic testing, pharmacogenomics testing, and other genetic tests are examples. Besides, these tests are employed in the detection of medical diseases such as cancer, hereditary disorders, and cardiovascular disease. Genetic Testing Market To know about the Research Methodology :- Request Free Sample Report In report, 2020 is considered a base year however 2020’s numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Genetic Testing Market Dynamics

The growth is accompanied by an increase in the incidence of genetic illnesses and a decrease in the cost of genetic testing. In 2018, there were around 6, 00,920 cancer deaths in the United States. Patients are expected to be more aware of the need for early illness detection, which would lead to faster treatment and a lower death rate. The increased prevalence of illnesses such as cancer, cystic fibrosis, Alzheimer's disease, and other genetic disorders likely lead to an increase in the number of individuals undergoing genetic testing for early diagnosis, fuelling the growth of the Global Genetic Testing Market. The increased emphasis by governments throughout the world on regulating and raising knowledge about genetic testing has resulted in a speedier acceptance of these tests around the world. The increased R&D investment, along with the strong market presence of the firm's leading competitors, has produced a high entry barrier for new entrants. Product design innovation, quality improvement, and strong distribution partnerships are critical elements for maintaining a competitive advantage in the market. For example, in August 2020, Ricoh Company Ltd. and DNA Chip Research Inc. released RICOH Standard DNA Series EGFR mutation Type001, a reference DNA plate to be utilized in blood-based genomics. Direct-to-consumer genetic testing kits are becoming increasingly popular in countries such as the United States, China, and Japan. With increased technology adoption, awareness initiatives, and cost reductions, the market for DTC-GT (Direct-to-consumer genetic testing) kits is expected to grow significantly throughout the forecast period. Furthermore, underdeveloped markets such as India and other emerging countries are likely to provide a profitable opportunity for firms trying to establish a foothold in the genetic testing market. As a result, given the increased burden of chronic illnesses, technology advancements and a shift toward customized therapy are expected to provide significant results.

Genetic Testing Market Segmentation Analysis

By Disease, over the forecast period, the cancer disease segment is expected to grow at CAGR of xx%. Genetic testing can help determine a person's risk of acquiring several forms of malignancies throughout a lifetime. Inherited variations and mutations in the DNA sequence, which can lead to excessive cell growth and tumor/cancer, can be tested via genetic testing. For example, genetic testing for PALB2 linked to an increased risk of breast and pancreatic cancer, CHEK2 linked to breast and colorectal cancers, BRIP1 linked to ovarian cancer, and RAD51C and RAD51D linked to breast and colorectal cancers. The rising global cancer burden and rising global awareness of preventative diagnosis and tailored medication are the major factors driving the cancer sector market throughout the forecast period. According to Globocan 2020, the number of new cancer cases in 2020 is expected to reach 19,292,789, with almost 9,958,133 cancer fatalities. According to the International Agency for Research on Cancer, the number of new cancer cases is expected to reach 30.2 million by 2040. (IARC). Thus, genetic testing assists in determining if cancer runs in the family and the risk factors connected with the development of malignancies in the future among individuals. Genetic Testing MarketBy Technology, The molecular testing segment dominated the genetic testing market in 2020 and is projected to continue to do so during the forecast period. The fact that molecular testing is the most widely utilized technique for genetic testing contributes to the segment's growth. Genetic tests such as carrier testing, diagnostic testing, predictive and presymptomatic testing, and others, for example, employ the technology. Furthermore, molecular testing is recommended because it may be utilized to assess DNA gains or losses that are not identifiable by standard chromosomal examination. Genetic Testing Market Regional Insight In 2020, the global genetic testing market is dominated by North America. The demand for genetic testing in the global market is growing in line with an increase in the number of diseases caused by genetic abnormalities and rapid technological advancements. In the North American area, the United States led the genetic testing market. The United States' growth may be attributed to upgrading infrastructure to facilitate genetic testing, governmental support for direct-to-consumer (DTC) genetic testing, as well as increased insurance coverage, and lower genetic test costs. Asia-Pacific is expected to grow at a faster rate throughout the forecast period. The main countries, such as China and India, are driving the growth pace. The Asia-Pacific market is being driven by factors such as increased R&D expenditure, a huge patient pool, and rising government financing. Other factors driving the Global Genetic Testing Market include developments in genetic testing technology, increasing prevalence of genetic illnesses, and increased awareness about disease early detection. Report Objectives: • Landscape analysis of the Genetic Testing Market • competitive benchmarking • Past and current status of the industry with the forecasted market size and trends • Evaluation of potential key players that include market leaders, followers, and new entrants • Technology trends • Potential impact of micro-economic factors of the market • External and Internal factors affecting market have been analyzed The report also helps in understanding the Genetic Testing Market dynamics, structure by analysing the market segments and project the Genetic Testing Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Genetic Testing Market make the report investor’s guide.

Genetic Testing Market Scope: Inquire before buying

Genetic Testing Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 14.9 Bn
Forecast Period 2021 to 2027 CAGR: 11.6 % Market Size in 2027: US $ 31.9 Bn.
Segments Covered: by Type • Carrier Testing • Diagnostic Testing • Newborn Screening • Predictive and PR symptomatic Testing • Prenatal Testing • Nutrigenomic Testing
by Disease • Alzheimer's Diseases • Cancer • Cystic Fibrosis • Sickle Cell Anemia • Duchenne Muscular Dystrophy • Thalassemia’s • Huntington's Disease • Special Diseases • Others
by Technology • Cytogenetic Testing • Biochemical Testing • Molecular Testing

Genetic Testing Market by Region

• North America • Asia pacific • Europe • Middle East and Africa • South America

Genetic Testing Market: Key Players

Abbott Laboratories • Roche Diagnostics • Myriad Genetics, Inc. • Thermo Fisher Scientific, Inc. • Agilent Technologies, Inc. • Hologic, Inc. • Illumina, Inc. • QIAGEN N.V. • Cepheid • Quest Diagnostics • Precipio Inc. • Ariosa Diagnositic Inc. • Sequenom Inc. • 23andMe • Bayer Diagnostics • Biocartis • BioHelix • BioMerieux • BGI • Counsyl • deCODEme • Genentech • Genomictree • IntegraGen • LabCorp Diagnostic Frequently Asked Questions 1. What is the projected market size & growth rate of Genetic Testing Market? Ans- Genetic Testing Market was valued at USD 31.9 billion in 2020 and is projected to reach USD 14.9 billion by 2027, growing at a CAGR of 11.6% during the forecast period. 2. What are the key driving factor for the growth of Genetic Testing Market? Ans- The growth is accompanied by an increase in the incidence of genetic illnesses and a decrease in the cost of genetic testing 3. Which Region accounted for the largest Genetic Testing Market share? Ans- In 2020, the global genetic testing market is dominated by North America. 4. What makes Asia Pacific a Lucrative Market for Genetic Testing Market? Ans- the Asia-Pacific market is being driven by factors such as increased R&D expenditure, a huge patient pool, and rising government financing. 5. What are the top players operating in Genetic Testing Market? Ans- Abbott Laboratories, Roche Diagnostics, Myriad Genetics, Inc., Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Hologic, Inc., and Illumina, Inc.
1. Global Genetic Testing Market: Research Methodology 2. Global Genetic Testing Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Genetic Testing Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Genetic Testing Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Genetic Testing Market Segmentation 4.1 Global Genetic Testing Market, By Type (2020-2027) • Carrier Testing • Diagnostic Testing • Newborn Screening • Predictive and PR symptomatic Testing • Prenatal Testing • Nutrigenomic Testing 4.2 Global Genetic Testing Market, by Disease (2020-2027) • Alzheimer's Diseases • Cancer • Cystic Fibrosis • Sickle Cell Anemia • Duchenne Muscular Dystrophy • Thalassemia’s • Huntington's Disease • Special Diseases • Others 4.3. European Genetic Testing Market, by Technology (2020-2027) • Cytogenetic Testing • Biochemical Testing • Molecular Testing 5. North America Genetic Testing Market (2020-2027) 5.1 North American Genetic Testing Market, By Type (2020-2027) • Carrier Testing • Diagnostic Testing • Newborn Screening • Predictive and PR symptomatic Testing • Prenatal Testing • Nutrigenomic Testing 5.2 North America Genetic Testing Market, by Disease (2020-2027) • Alzheimer's Diseases • Cancer • Cystic Fibrosis • Sickle Cell Anemia • Duchenne Muscular Dystrophy • Thalassemia’s • Huntington's Disease • Special Diseases • Others • 5.3. European Genetic Testing Market, by Technology (2020-2027) • Cytogenetic Testing • Biochemical Testing • Molecular Testing 5.3 North America Genetic Testing Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Genetic Testing Market (2020-2027) 6.1. Asia Pacific Genetic Testing Market, By Type (2020-2027) 6.2. Asia Pacific Genetic Testing Market, by Disease (2020-2027) 6.3. European Genetic Testing Market, by Technology (2020-2027) 6.4. Asia Pacific Genetic Testing Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Genetic Testing Market (2020-2027) 7.1. Middle East and Africa Genetic Testing Market, By Type (2020-2027) 7.2. Middle East and Africa Genetic Testing Market, by Disease (2020-2027) 7.3. European Genetic Testing Market, by Technology (2020-2027) 7.4. Middle East and Africa Genetic Testing Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Genetic Testing Market (2020-2027) 8.1. Latin America Genetic Testing Market, By Type (2020-2027) 8.2. Latin America Genetic Testing Market, by Disease (2020-2027) 8.3. European Genetic Testing Market, by Technology (2020-2027) 8.4 Latin America Genetic Testing Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Genetic Testing Market (2020-2027) 9.1. European Genetic Testing Market, By Type (2020-2027) 9.2. European Genetic Testing Market, by Disease (2020-2027) 9.3. European Genetic Testing Market, by Technology (2020-2027) 9.4 European Genetic Testing Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Roche Diagnostics 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Abbott Laboratories 10.3. Roche Diagnostics 10.4. Myriad Genetics, Inc. 10.5. Thermo Fisher Scientific, Inc. 10.6. Agilent Technologies, Inc. 10.7. Hologic, Inc. 10.8. Illumina, Inc. 10.9. QIAGEN N.V. 10.10. Cepheid 10.11. Quest Diagnostics 10.12. Precipio Inc. 10.13. Ariosa Diagnositic Inc. 10.14. Sequenom Inc. 10.15. 23andMe 10.16. Bayer Diagnostics 10.17. Biocartis 10.18. BioHelix 10.19. BioMerieux 10.20. BGI 10.21. Counsyl 10.22. deCODEme 10.23. Genentech 10.24. Genomictree 10.25. IntegraGen 10.26. LabCorp Diagnostic

About This Report

Report ID 10781
Category Healthcare
Published Date oct 2019
Updated Date Nov 2021
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