Market Research Future with their unique quality of simplifying the market research study, announces a deep study report on “Genetic Testing Market Research Report – Global Forecast To 2023” Gives industry size, top players and worldwide demand
Market Synopsis of Global Genetic testing Market:
Genetic testing has gained popularity over the last few years for detection and prevention of genetic diseases, cancer, etc. The increasing awareness among the population regarding early diagnosis coupled with rising expenditure on preventive measures has fueled demand in the market. It is likely to continue favoring the genetic testing market over the next couple of years.
The technological advancements introduced in the genetic testing market that offers enhanced efficiency and accuracy is expected to fuel demand during the projection period. Adoption of non-invasive genetic testing technology is projected to accelerate revenue creation for market players across the review period.
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Genetic testing involves the use of laboratory methods to study the genes inherited from mother or father. These tests may be used to identify increased risks of health problems, to diagnose the mutations in the genes, to choose treatments, or to assess responses to treatment.
The Global Genetic testing market is growing moderately. It is growing at the CAGR of ~9.8% during the forecast period. The global genetic testing market expected to reach USD 10,033.4 million by 2023 from USD 4,683 in 2016.
Some of the key players in this market are:
- Abbott Laboratories (US)
- Bio-Rad Laboratories, Inc. (US)
- Illumina Inc. (US)
- Myriad Genetics (US)
- PerkinElmer Inc. (US)
- QIAGEN N.V. (Germany)
- Quest Diagnostics (US)
Global genetic testing market has been segmented on the basis of type which prescribed genetic testing, and direct to consumer (DTC) genetic testing. Prescribed Genetic Testing accounted for the largest market share in 2016. On the basis of method, it is segmented into Molecular Genetic Test/ DNA Test, Chromosomal Genetic Test, Biochemical Genetic Test. Molecular Genetic tests/DNA was holding largest market share in 2016. On the basis of type of test, the market is segmented into Diagnostic Test, Predictive Test, Family DNA Test, and others. Diagnostic test accounted for the largest market share in 2016. On the basis of indication it is segmented into Cancer Testing, Neurogenetic Disorder Testing, Autoimmune Disorder Testing, Muscular dystrophies, and others. Cancer Testing accounted for the largest market share in 2016.
Considering the global scenario of the market, due to continuous innovation, high awareness about the genetic testing and rapid adoption of new technology, Americas is largest market and was holding 46.3% market share of global Genetic testing in 2016. US is holding largest market share in North America region. European genetic testing market is expected to reach USD 2,553.10 million by 2023. On the other hand, due to increasing aging population and advances in the medical fields, the Asia-Pacific (APAC) is fastest growing market for Genetic testing and expected to grow at a CAGR of 10.1% during the forecast period. Middle East and Africa (ME&A) is likely to have a limited growth in the market due to less awareness and lack of required infrastructure.
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Detailed Table Of Contents
1 Report Prologue
2.2 Scope Of The Study
2.2.1 Research Objective
2.3 Market Structure
2.4. Market Segmentation
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
5 Market Dynamics
4.4 Mega Trends
4.5 Macroeconomic Indicators
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