WiseGuyReports.Com Publish a New Market Research Report On –“ Genetic Testing 2019 Global Market Outlook,Research,Trends and Forecast to 2022”.
Genetic testing, also known as DNA testing, is a medical test that helps identify changes in chromosome structure or DNA sequence. It is done to diagnose or rule out a suspected genetic condition and identify risks associated with a specific condition. This testing is also done to gain information that might come in handy for customizing medical treatments depending on a person’s genetic makeup. As per reports, the global DNA testing market will record a CAGR of 10.32% over the forecast period.
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Abbott, bioMérieux, Bio-Rad Laboratories, F. Hoffmann-La Roche, Myriad Genetics, QIAGEN, Quest Diagnostics
Increasing prevalence of genetic conditions and technological advancements in DNA testing techniques are expected to drive the market during the forecast period. The development of customized testing kits for therapeutic areas is also boosting market growth in many regions across the globe. According to report analysts, the global genetic testing market should reach US$ 17606.70 million by 2025, from US$ 7501.90 million in 2017. The market is expected to record a CAGR of 11.3% during this period.
Advances in DNA testing methods and increasing use of this testing in oncology are anticipated to fuel the global market. The reduction in DNA testing prices is also a significant factor driving the market. Certain factors that might restrain market growth are concerns about confidentiality and wrong advice along with the complication in understanding the results. However, the overall genetic testing market will grow significantly in the coming years.
The global genetic testing market is bifurcated into types, applications, and technology.
Based on types, the market is divided into predictive testing, carrier testing, diagnostic testing, prenatal and newborn testing, pharmacogenomic testing and others. As per reports, the predictive testing segment was valued at about US$ 640 million in 2018 and will grow at a good pace over the forecast period. The pharmacogenomic testing segment will also witness significant growth in the coming years.
Based on applications, the market is divided into chromosome analysis, genetic disease diagnosis, cardiovascular disease diagnosis and others. The genetic disease diagnosis segment is projected to record outstanding growth during the forecast period. Cardiovascular disease diagnosis should also experience rapid growth.
Based on technology, the market is divided into cytogenetic testing/ chromosome analysis, biochemical testing, and molecular testing. The molecular testing segment is further divided into DNA sequencing and others.
The important regions considered in this report for studying the global genetic testing market are North America (The United States, Canada and Mexico), Europe (UK, Russia, Germany, Italy, France, Spain and rest of the region), Asia-Pacific (India, China, Indonesia, Japan, Australia and rest of the region), Central and South America (Brazil, Argentina, Columbia and rest of the region), and the Middle East and Africa (UAE, Turkey, Nigeria, Egypt and South Africa).
North America dominates the worldwide DNA testing market owing to technological advancements and the increasing prevalence of genetic conditions in this region. Europe occupies the second position due to increasing number of baby boomers vulnerable to chronic conditions. The Asia-Pacific region is also projected to witness impressive growth over the forecast period. Growing disposable income and improving healthcare infrastructure should support regional growth.
In September 2019, a San Diego-based DNA testing company Diagnomics released a cardiovascular-focused genetic report, Cardiac Care, during the Illumina Global Screening Array. Cardiac Care was added to the company’s existing clinical portfolio called Gene Impetus that helps take a proactive approach for preventive health management and provide guidance to healthcare providers and patients on cardiovascular conditions.
Complete Report Details @ https://www.wiseguyreports.com/reports/3035618-global-genetic-testing-market-2018-2022
Table of Contents – Major Key Points
- Executive Summary
- Scope Of The Report
- Research Methodology
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Segmentation By Application
- Segmentation By Product
- Customer Landscape
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