Genetic Testing Market Product Driving Factors, Capacity and Growth Rate Analysis to 2025

Posted on 2020-04-10 by researchinsights in Healthcare // 0 Comments

10^th Apr 2020 – Global Genetic Testing Market is expected to grow at a significant CAGR of 10.32% in the upcoming period as the scope and its applications are rising enormously across the globe. Genetic Testing, also termed as DNA testing, is a process of analyzing the person’s chromosomes or DNA for the presence of particular DNA sequences that encode for traits of interest. It is mainly used to detect inherited disease causing disease and/or genes causing mutations.

Prevalence of diseases like cardiovascular and cancer, growth in acceptance of IT solutions for genetic testing, growing awareness regarding genetic services, and rising occurrence of common autoimmune diseases are documented as the major factors that are estimated to enhance the growth in the years to come.

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However, high cost of genetic tests and lack of awareness regarding genetic services in developing countries are the factors that may restrain overall market in the years to come. Genetic Testing Market is segmented based on test type, end user, application, and region.

Pharmacogenomics testing, prenatal testing, predictive & presymptomatic testing, and newborn screening are the test types that could be explored in Genetic Testing in the forecast period. In terms of revenue, predictive & presymptomatic testing sector accounted for the substantial market share of Genetic Testing and is estimated to lead the overall market in the upcoming period. This may be because of growing awareness regarding diseases like cancer and early diagnosis of diseases.

Specialty clinics, hospital-based laboratories, diagnostics laboratories, and the other end users could be explored in Genetic Testing and are estimated to lead the overall market in the near future. The hospital-based laboratories sector accounted for the significant market share and is estimated to grow at the highest CAGR in the years to come. This may be because of the growing number of hospitals. In addition, diagnostic laboratories sector is estimated to grow at the fastest pace in the near future.

The market may be categorized based on applications like autoimmune diseases, oncology, infectious diseases, and the others that could be explored in the forecast period. The oncology sector accounted for the substantial market share of Genetic Testing and is estimated to continue its dominance in the coming years. This may be because high occurrence of cancer across the globe.

Leading Players Analysis

GeneDx
Invitae
Pathway Genomics
Counsyl
Asper Biotech
GenePlanet
Courtagen Life Sciences
Gene By Gene
Natera, Inc
Regulatory
GeneTests
United Gene
HI Gene
Berry Genomics and many others

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Market segment by Type, the product can be split into

Newborn Screening
Diagnostic Testing
Carrier Testing
Preimplantation Genetic Diagnosis
Prenatal Diagnosis
Predictive and Presymptomatic Testing
Pharmacogenomics

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