According to Stratistics MRC, the Global Genetic Testing market is accounted for $7749.00 million in 2017 and is expected to reach $25948.46 million by 2026 growing at a CAGR of 14.37% during the forecast period.
Factors such as rise in the incidence of genetic diseases and increase in the prevalence of cancer and cardiovascular diseases are fuelling the market growth. Moreover, demand in the benefits offered by genetic testing (such as specificity and early identification) is one of the major opportunities to boost the market during the forecast period. However, inaccuracies in results and reimbursement issues are restricting the growth of the market.
A genetic test is used to determine the DNA sequence of a certain region of the human genome. This region might be a whole gene or a share of a gene, or other areas thought to regulate genes. The test will look for certain changes in the sequence that is known to have consequences on the function of a gene. Mostly genetic tests are performed on a DNA sample, because every tissue in the body is composed of cells that contain DNA.
By type, predictive & pre-symptomatic testing segment acquired significant growth due to increase in awareness about diseases such as cancer and early detection of diseases. Based on end user, hospital based laboratories segment is owing to user convenience and increasing number of hospitals are a few factors projected to propel the hospital-based laboratories segment during the forecast period.
On the basis of geography, North America is considered as the fastest growing market and the factors favouring the growth of this region are developed infrastructure, increase in health care investments, and robust R&D activities in these countries.
Some of the key players in genetic testing market include Illumina Inc, Abbott Laboratories, BGI Tech, Thermo Fisher Sceintific, Luminex Corporation, Cepheid, Qiagen N.V, Blueprint Genetic, Pacific Biosciences of California Inc, Affymetrix, Bio-Rad Laboratories, Celera Group, AutoGenomics Inc., Roche Holding AG, Molecular Inc., Genomictre Inc, HTG Molecular Diagnostics Inc, Oxford Biodynamics Ltd and National Center for Biotechnology Information.
Duchenne Muscular Dystrophy
Sickle Cell Anemia
Predictive & Pre-symptomatic Testing
Newborn and Prenatal Testing
Molecular Genetic Test/ DNA Test
Tandem Mass Spectrometry
High-performance liquid chromatography
Gas Chromatography/ Mass Spectrometry
Testing Samples Covered:
Other Testing Samples
Cancer Genetic Testing
Prescribed Genetic Testing
Pharmacogenomics Genetic Testing
Predisposition Cancer Genetic Testing
Direct to consumer (DTC) Genetic Testing
Neurogenetic Disorder Testing
End Users Covered:
Other End Users
o Rest of Europe
o New Zealand
o South Korea
o Rest of Asia Pacific
o Rest of South America
Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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