Genetic Testing Services Market is expected to expand at a robust CAGR of 7.6% during the forecast period, 2020-2025

Genetic testing services have found widespread applications in several healthcare fields. These include oncology, obstetrics and ancestry. Genetic testing is predominantly used in determining the prevalence of various autoimmune diseases like rheumatoid arthritis, Type-1 diabetes mellitus, multiple sclerosis, cancers and Guillain-Barre syndrome.

On the back of these factors, the global genetic testing services market is set to burgeon in the future. The market is set to record robust expansion with a CAGR of 7.6% during the forecast period (2020-2025), surpassing a value of US$ 64,131.4 Mn by 2025. Increase in the number of geriatric patients and spread of communicable and non-communicable diseases are also anticipated to leverage the genetic testing services market.

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Genetic Testing Services Market – Scope of Report:

A latest publication by Fact.MR on the global Genetic Testing Services market evaluates the opportunities and current market landscape, and provides detailed analysis and updates about corresponding sections affecting the market.

The study offers detailed insights on key market dynamics, which include the drivers, restraints, trends, and opportunities in the market.

The principal aim of the study is to present exclusive information about how the market will perform during the forecast period of 2020-2030.

Important indicators for the successful growth of the Genetic Testing Services market are presented in this comprehensive report, which include Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR), which are described in an exhaustive way in Fact.MR’s study.

This research study can support readers to know the demand for c supplements, and the quantitative development opportunities during the study period.

The research is beneficial for shareholders in Genetic Testing Services, including investors, manufacturers, service providers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the market.

Insights and wisdom presented in this Fact.MR study can be leveraged by shareholders in the market, industry experts, investors, researchers, and reporters, as well as business enthusiasts.

Market Competitors:

• The global genetic testing services market consists of the following players: Laboratory Corporation of America Holdings, Quest Genetics Incorporated, Genomic Health, Inc., NeoGenomics Laboratories, Inc., Eurofins Scientific, Ambry Genetics and 23andMe, Inc. Laboratory Corporation of America Holdings dominates the genetic testing services market. It provides specialty testing services in women’s health, Genetic genetics, allergies, cardiovascular disease and cancer Genetics.

  The company processes tests on more than 3 million patient specimens per week and serves hundreds of thousands of customers in the United States. Likewise, Quest Genetics Incorporated offers various Genetic and clinical tests for several medical conditions such as hepatitis C, arthritis, cardiovascular diseases, neurology, Genetics, Pediatrics, autoimmune diseases and cancers. The company’s main area of expertise is in providing Genetic information services.

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Report benefits & key questions answered

• Post covid consumer spending on Genetic Testing Services: the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
• Genetic Testing Services demand outlook: the market intelligence study reports highlights the factor propelling the demand for Genetic Testing Services. As per the study, the demand for Genetic Testing Services will grow through 2025.
• Genetic Testing Services historical volume analysis: Fact.MR survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2020-2025.
• Genetic Testing Services consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.

Genetic Testing Services Market Segmentations:

• By Test types :

  • Prenatal Testing
  • New Born Screening
  • Predictive and Presymptomatic Testing
  • Pharmacogenomic Testing
  • Others

• By Service providers :

  • Hospital-based Laboratories
  • Diagnostic Laboratories
  • Specialty Clinics
  • Others

• By Applications :

  • Oncology
  • Infectious Diseases
  • Autoimmune Diseases
  • Others

• By Key Regions :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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