The global genetic testing market was valued at $7,501.90 million in 2017 and is projected to reach $17,606.70 million by 2025, growing at a CAGR of 11.3% from 2018 to 2025
NEW YORK, Sept. 23, 2019 /PRNewswire/ -- Genetic Testing Market by Type (Predictive Testing, Carrier Testing, Prenatal & Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, and Others), Technology (Cytogenetic Testing, Biochemical Testing, and Molecular Testing), and Application (Chromosome Analysis, Genetic Disease Diagnosis, Cardiovascular Disease Diagnosis, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025
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The global genetic testing market was valued at $7,501.90 million in 2017 and is projected to reach $17,606.70 million by 2025, growing at a CAGR of 11.3% from 2018 to 2025.
Genetic testing is the study of DNA that identifies gene mutation associated with a variety of genetic disorder. There are various types of genetic testing, and several methods such as cytogenetic testing, biochemical testing, molecular testing, molecular testing, and chromosome analysis are used to determine the changes in person's chromosomes, genes, or proteins. The outcomes of a genetic test confirm or diagnose a suspected genetic condition or help determine a person's chance of developing or passing on a genetic disorder.
The global genetic testing market is expected to register substantial growth in the near future, owing to rise in incidence of genetic disorders & cancer and growth in awareness & acceptance of personalized medicines. In addition, advancements in genetic testing techniques are expected to boost the market growth during the forecast period. However, standardization concerns of genetic testing-based diagnostics and stringent regulatory requirements for product approvals are anticipated to hamper the market growth during the forecast period. Conversely, untapped emerging markets in developing countries are expected to provide remunerative opportunities for the market players.
The global genetic testing market is segmented based on type, technology, application, and region. By type, the market is categorized into predictive testing, predictive testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. On the basis of technology, the market is divided into cytogenetic testing, molecular testing, and DNA sequencing. By application, it is segmented into cancer diagnosis, genetic disease diagnosis, cardiovascular disease diagnosis, and others. Region wise, the market analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current market trends and future estimations from 2018 to 2025, which assists to identify the prevailing market opportunities.
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the global genetic testing market is provided.
- An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
KEY MARKET SEGMENTS
-- By Type
o Predictive Testing
o Carrier Testing
o Prenatal & Newborn Testing
o Diagnostic Testing
o Pharmacogenomic Testing
o Others
-- By Technology
o Cytogenetic Testing/Chromosome Analysis
o Biochemical Testing
o Molecular Testing
- DNA Sequencing
- Others
-- By Application
o Chromosome Analysis
o Genetic Disease Diagnosis
o Cardiovascular Disease Diagnosis
o Others
-- By Region
o North America
-- U.S.
-- Canada
-- Mexico
o Europe
-- Germany
-- France
-- UK
-- Italy
-- Spain
-- Rest of Europe
o Asia-Pacific
-- Australia
-- Japan
-- India
-- China
-- South Korea
-- Rest of Asia-Pacific
o LAMEA
-- Brazil
-- Saudi Arabia
-- South Africa
-- Rest of LAMEA
KEY MARKET PLAYERS
-- Abbott Laboratories
-- Bio-Rad Laboratories, Inc.
-- Myriad Genetics, Inc.
-- Danaher Corporation
-- F. Hoffmann-La Roche Ltd.
-- Eurofins Scientific
-- Illumina, Inc.
-- Qiagen N.V.
-- Novartis International AG
-- Thermo Fisher Scientific, Inc.
The other players in the value chain include (profiles not included in the report):
-- Agilent Technologies, Inc.
-- Empire Genomics, LLC.
-- Irvine Scientific
-- PerkinElmer, Inc.
-- Sysmex Corporation
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