Genetic Testing Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2016-2021 and Forecast 2022-2028

Description

Genetic Testing Market size was valued at USD 13.6 billion in 2021. It is expected to reach USD 29.88 billion by 2028 recording a CAGR of 11.9% during 2022-2028. The DNA, a chemical databank that conveys commands for the body’s utilities, is examined during genetic testing. Changes or mutations in the genes that may cause illness or disease can be discovered by genetic testing. The rise in the incidence of genetic diseases and the growing demand for identifying genetic disorders are two major factors driving growth in the global genetic testing market. Chronic diseases are primarily caused by genetic abnormalities. Genetic testing makes available technology that aid in the early discovery of various genetic illnesses, as well as treatment and prevention. Genetic testing is widely utilised for a variety of applications. In 2015, there were around 15.1 million new cancer cases worldwide, with more than half of these instances coming from economically developing countries such as India, China, and others. Prenatal genetic testing is a procedure that aids in the detection of genetic diseases in the foetus. Mutations in a person’s genes or chromosomes are the most common cause of genetic disorders. Aneuploidy, trisomy, monosomy, and a variety of other hereditary illnesses are among the most common genetic abnormalities. Pharmacogenomics is the study of congenital changes in human genes that influence a person’s pharmacological response. Pharmacogenomics is a field that combines pharmaceutical and genetic sciences. As a result, it is the science of customising a medicine depending on a person’s genetic composition. A predisposition is an increase in the likelihood of a disease developing as a result of a person’s genetic composition. A genetic predisposition is caused by specific genetic abnormalities that are passed down from one parent to the next.