The Global Genetic Testing Market has been evaluated as rapidly growing and is expected to grow further. The advent of genetic testing has revolutionized the molecular diagnostic and cytogenetic industry. Benefits such as predicting risk of diseases, genetic abnormalities along with prenatal and newborn congenital abnormalities etc. had increased the market of global genetic testing globally.
Technological advancements such as DTC (Direct to Consumer) had led the market to grow further. Basically DTC is the type of genetic test that is accessible to the consumer directly, without having go through the healthcare professional to obtain a genetic test.
Not just in human the market also had great scope for agricultural and animal related disease and advancement as well. Process like biotechnology and genetic engineering has increases its future scope in both the other areas (animals and agricultural related market).
The growing demand for genetic testing from end industries and users such as diagnostics, drug discovery, research and development, livestock and others are the prime drivers of the market. Rising awareness, growing demand for parentage determination, progeny testing in livestock and agriculture, seed industries, and growing incidence and prevalence of cancers, and others are further charging the market.
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Technological advancements such as the development of through output screening, next generation screening (NGS), growing sensitivity and selectivity of tests, improvements in analytics resulting in faster detection, development of tissue microarray techniques are technical drivers of the market. Further forensic testing is firing the demand for advanced tests which is benefiting the market.
High cost of the tests, lack of awareness in underdeveloped regions and the possibility of genetic discrimination hampers the market.
Genetic testing provides limited information about an inherited disease. A person may only be a carrier of a disorder, displaying low or no symptoms. Genetic testing also does not determine the timely progression of the disorder and thereby results in ambiguity of treatment strategies for genetic disorders.
The global genetic testing market has been divided by type, method, type of test, indication and regions to gain an accurate assessment of the direction of the market.
Type – prescribed genetic testing, and direct to consumer (DTC) genetic testing. Prescribed genetic testing dominated the market in 2016.
Method – molecular genetic test/ DNA test, biochemical genetic test, chromosomal genetic test. Molecular genetic tests/DNA accounted for the largest market share in 2016.
Type of test – diagnostic test, family DNA test, predictive test, and others. Diagnostic test possessed the largest market share in 2016.
Indication – cancer testing, autoimmune disorder testing, neurogenetic disorder testing, muscular dystrophies, and others. Cancer testing had the largest market share in 2016.
Regions – Americas, Europe, Asia-Pacific (APAC), and Middle East and Africa (ME&A)
Americas accounted for the largest 46.3 % market share of the global genetic testing in 2016. The Americas market was ruled by the U.S. owing to its large economy, developed healthcare infrastructure and the compulsory genetic testing of newborns under the Affordable Healthcare Act.
Europe region was dominated by Germany, France and the U.K. which is estimated to reach USD 2.5 billion by the end of forecast period of 2023. The orphan drug classification coupled with the presence of large players and high per capita income of the European nations propel the Europe genetic testing market.
Asia-Pacific (APAC) region is expected to deliver the fastest growth at a CAGR of 10.1 % during the forecast period. Middle East and Africa (ME&A) is likely generate moderate growth skewed in favour opf the Gulf economies of Saudi Arabia, UAE and others. Poor economy, limited healthcare and political instability hamper the Africa genetic testing market.
Some of the dominant players in this market are Qiagen N.V. (Germany), PerkinElmer Inc. (US), Abbott Laboratories (US), Illumina Inc. (US), Bio-Rad Laboratories, Inc. (US), Myriad Genetics (US), and Quest Diagnostics (US) and others.
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Feb, 2018 – Optra Health launched ‘Digital Genetic Assistant’ for interpreting genetic tests.
Jun, 2017 – Phosphorus launched diagnostic genetic tests for hereditary cancers designed to provide lifetime risk quantification, which are expected to drive down survival rates.
Jan, 2017 – Elucigene Diagnostics launched CF-DE test for the genetic detection of cystic fibrosis.
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