Global Genetic Testing Market Report Description:
Global genetic testing market report gives comprehensive outlook on genetic testing across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global genetic testing market gives historical, current, and future market sizes (US$ Mn) on the basis of test type, technology, application, end user, and region. This report studies global genetic testing market dynamics elaborately to indentify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global genetic testing market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global genetic testing market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global genetic testing market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global genetic testing products.
Global Genetic Testing Market:
The global Genetic Testing market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025 due to technological advancements in the genetic testing. Moreover, rise in adoption for the personalized medicine, increase in demand for early stage disease diagnosis, surge in adoption of genetic testing in developed and developing countries, and sophisticated healthcare infrastructure are the major factors that are driving the growth of the genetic testing market.
Technological Advancements in the Genetic Testing Enhances Market Growth
Technological advancements in the genetic testing enhances the revenue of genetic testing market over the forecast years. Advanced genetic testing technology enhances the precision of analysis of clinical biomarkers. Moreover, innovations in the genetic tests offer efficient and safer technique in the disease detection that may reduce the miscarriage during the early stage of pregnancy. Furthermore, surge in adoption of genetic testing among the population, favorable reimbursement policies, and presence of skilled professionals are bolster the genetic testing market over the forecast timeframe.
North America Accounts for Larger Market Revenue Share in Global Genetic Testing Market
North America accounted for larger revenue share in global genetic testing market with significant CAGR. Increase in prevalence of genetic disorders such as cancer, diabetes, and other chronic diseases, rise in demand for personalized medicine, and grow in R&D for the development of advanced tests by the market players are propel the genetic testing market in the North America region. Europe genetic testing market projected to grow at significant rate owing to increase in adoption of advanced genetic tests, rise in health awareness among the population, increase in the incidence of genetic disorders are expected to enhance the market.
Competition Assessment
Key player’s profiles in the global genetic testing market include:
- Qiagen N.V. (Germany)
- PerkinElmer, Inc. (U.S.)
- Applied Biosystems (U.S.)
- Biocartis S.A. (Switzerland)
- Genentech, Inc. (U.S.)
- Hoffmann La Roche Ltd. (Switzerland)
- Quest Diagnostics (U.S.)
- Illumina, Inc. (U.S.)
- Bayer Diagnostics (Germany)
- Konica Minolta, Inc. (Japan)
- Abbott Laboratories (U.S.)
- Myriad Genetics (U.S.)
Global genetic testing market is surging owing to frequent acquisitions and collaborations by the market players. For instance, In July 2018, Myriad Genetics acquired the Counsyl, a reproductive genetic testing firm. Moreover, In July 2017, Konica Minolta, Inc. acquired Ambry Genetics Corporation to secure a leading position for Konica Minolta in precision medicine.
Key Findings of the Report:
- Global genetic testing market expanding at significant CAGR over 2019 to 2025 owing to launch of newer tests into market.
- Based on application, cancer segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global genetic testing market
Detailed Segmentation
By Test Type
- New-born Screening
- Diagnostic Testing
- Prenatal Testing
- Carrier Testing
- Predictive and Pre-Symptomatic Testing
By Technology
- Molecular Testing
- Cytogenetic Testing
- Biochemical Testing
By Application
- Thalassemia
- Sickle Cell Anemia
- Cancer
- Cystic Fibrosis
- Alzheimer’s Disease
- Huntington’s Disease
- Others
By End User
- Hospitals
- Clinics
- Diagnostic Centers
Geography
- North America
- US
- Canada
Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Poland
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Venezuela
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- Israel
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
