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Genetic Testing Market (Type - Diagnostic Testing, Presymptomatic and Predictive Testing, Carrier Testing, Pharmacogenomics, Prenatal Testing, New Born Screening, and Preimplantation Testing; Technology - PCR, DNA Sequencing, Cytogenetics, Microarrays, and Gene Expression Profiling; Application - Chronic Diseases, Neurodegenerative Diseases, Cancer, Genetic Disorders, and Autoimmune Disorders): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : June, 2019

  • Rep Id : HC0551

  • Category : Healthcare & Medical Devices

  • Status : Published

This report provides exclusive insights into the COVID-19 impact on the Genetic Testing Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Genetic Testing Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Genetic Testing Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.

A recent report published by Infinium Global Research on the genetic testing market provides an in-depth analysis of segments and sub-segments in the global as well as a regional genetic testing market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional genetic testing market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global genetic testing market. According to the report, the global genetic testing market is projected to grow at a CAGR of 11.5% over the forecast period of 2019-2025.

 

Market Insight

Genetic testing commonly known as DNA testing is used for diagnosis of changes in gene and various disorders lead by the mutation. Genetic testing involves the analysis of genetic material like DNA, RNA and amino acids to detect inherited (germline) or non-inherited (somatic) genetic variants related to disease or health. Genetic tests have expanded and several new methods are being developed. The methods widely used for genetic testing are cytogenetic testing, biochemical testing, and molecular structure testing. Genetic testing is also turning the corner on prescreen technology.

 

The rising prevalence of genetic disorders is a major driving factor for the growth of the genetic testing market. Human welfare can be elevated through the responsible development and application of gene testing. Recent scientific advances in human genetics have increased the applications of genetic testing and have led to the development of new and effective techniques of diagnosing and treating diseases. Increasing awareness of genetic diseases globally and rising number of biotech industries are supporting the growth of the market. However, the high costs associated with molecular instruments and the limited availability of trained professionals can hamper the growth of the market. Government funding for research and development and heavy investment from pharma majors in the biotech industry can provide better opportunities for the market.

 

Among the geographies, North America holds the largest market share. The U.S. currently dominates the market for genetic testing and will witness robust growth during the forecast period. This is attributable to the rising prevalence of genetic diseases, highly advanced infrastructure to support genetic testing and technological advancements in the healthcare sector in the North America region. Europe holds the second-largest share in the genetic testing market owing to the growing awareness about the benefits of genetic testing. Asia-Pacific is the fastest-growing region in the genetic testing market. The increasing advancements in technology, increasing investments by several foreign players and the growing healthcare sector in this region contributes to the growth of the genetic testing market.


Global Genetic Testing Market

 

Segment Covered

The report on the global genetic testing market covers segments such as type, application, and technology. On the basis of type, the sub-markets include diagnostic testing, presymptomatic and predictive testing, carrier testing, pharmacogenomics, prenatal testing, new born screening, and preimplantation testing. On the basis of technology, the sub-markets include PCR, DNA sequencing, cytogenetics, microarrays, and gene expression profiling. On the basis of application, the sub-markets include chronic diseases, neurodegenerative diseases, cancer, genetic disorders, and autoimmune disorders.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Thermo Fisher Scientific Inc., QIAGEN, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, F. Hoffmann-La Roche AG, Macrogen, Inc., and Agilent Technologies, Inc.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the genetic testing market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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