Genetic Testing market is estimated at US$XX million for the year 2015 and is expected to reach US$XX million by the end of 2020, at a CAGR of XX%, during the forecast period 2015 to 2020. The US represents the largest market for genetic testing worldwide because of the technical advances in the country and the investment being made in medical research.
Genetic testing is the analysis of genes, chromosomes, or proteins to predict the risk of diseases, identify carriers (individuals who do not have the disease but have a copy of the disease gene) of disease, diagnose diseases, or determine the likely course of a disease. Cytogenetics, Molecular Genetics, Cancer Genetics, Prenatal Screening and Prenatal diagnosis are type of genetic tests that involves examining a person’s genetic material taken from cells in a sample of blood or, occasionally, from other body fluids or tissues.
Genetic Testing market growth is driven by increasing adoption in oncology applications, growing public awareness and demand for personalized medicine. There is an increase in life expectancy and a growing aging population. There is also a rise in the number of chronic diseases and an increasing incidence of cancer these factors are propelling growth of the genetic testing market.
Genetic testing represents the most rapidly expanding segment of the molecular diagnostics market worldwide. The growing incidence of genetic diseases unravels new opportunities for genetic testing. The transformation of genetic testing from being a service-driven market to a product-driven market is expected to provide an impetus to the diagnostic companies for the expansion of their operations.
The major players in this market are Abbott Molecular, Biocartis SA., Celera Group, Cepheid, Genentech, Inc., IntegraGen S.A, Luminex Corporation, Qiagen N.V., Roche Diagnostics Limited, Transgenomic, Inc., among others.
There is an increase in the incidence of diseases such as cancer globally, this is accelerated by the aging population and higher life expectancy. The technical advances and medical research are also factors that drive the market.
The technology such as genetic testing is expensive and not affordable by the entire population.
What the report offers?
1) Market Definition for the specified topic along with identification of key drivers and restraints for the market.
2) Market analysis for the Global Genetic Testing Market in Healthcare Industry, with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5)Identification and analysis of the Macro and Micro factors that affect the Global Genetic Testing Market in Healthcare Industry on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Key points in table of content
Review and Forecast Period Years
General Study Assumptions
Econometric Forecast Model
Current Market Scenario
Porter’s Five Forces
Bargaining Power of Suppliers
Bargaining Power of Consumers
Threat of New Entrants
Threat of Substitute Products and Services
Competitive Rivalry within the Industry
Drivers, Restraints, Opportunities, and Challenges (DROC) Analysis
Genetic Testing Market Segmentation
Predictive and Presymptomatic Testing
Middle East and North Africa
Merger and Acquisition Analysis
New Product Launches
Agreements, Collaborations & Partnerships
Ariosa Diagnostics, Inc
Daan Diagnostics Ltd.
Roche Diagnostics Limited
HTG Molecular Diagnostics, Inc.
Laboratory Corporation of America Holdings
Myriad Genetics, Inc.
Oxford Biodynamics Limited
Pacific Biosciences of California, Inc.
Analyst Outlook for Investment Opportunities
Future Outlook of the Market
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