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.
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.
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
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.
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.