According to a new report published by Allied Market Research, titled, “ The global Genetic Testing Market was valued at $12 billion in 2019 and is expected to reach $21 billion by 2027, registering a CAGR of 10.1% from 2019 to 2027”. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
demand for genetic testing is on the rise, owing to surge in genetic disorders across the globe. Furthermore, surge in awareness related to importance of early diagnosis of genetic disorders which leads to rise in demand for genetic testing is another major factor that fuels the market growth.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭@ https://www.alliedmarketresearch.com/request-sample/5241
Covid-19 Impact on Global Genetic Testing Market
- The pandemic has also affected the genetic testing industry. For instance, the genetic testing market has been impacted negatively owing to factors such as unavailability of genetic counsellors, doctors, and laboratories professionals.
- Genetic counsellors are not recognized as healthcare providers by governmental bodies such as Centers for Medicaid Services (CMS). Hence, they are not exempted from practicing during lockdowns.
Key Market Segments:
By type, the market is segmented into predictive testing and presymptomatic testing, carrier testing, prenatal and neonatal testing, diagnostic testing, pharmacogenomic testing, and others. Prenatal and Neonatal Testing dominated with the highest revenue in 2019 and is expected to maintain its dominance during the forecast period.
By technology, molecular testing captured a major share of the genetic testing market in 2019 and is expected to maintain its lead over the forecast period. This segment has grown since molecular testing is the most widely used technology for genetic testing. For example, the technology is used in genetic tests such as carrier testing, diagnostic testing, predictive and presymptomatic testing, and others.
By region, North America was the leading revenue contributor to the global genetic testing market in 2019 and is expected to dominate the market during the forecast period. This is attributed to the presence of most of the major players in the region.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲@ https://www.alliedmarketresearch.com/purchase-enquiry/5241
Key Findings of The Study:
- By type, the prenatal & newborn testing segment occupied one-thirds share of the global genetic testing market in 2019
- By technology, the biochemical testing segment is anticipated to grow with the highest CAGR throughout the forecast period.
- By application, the genetic disease diagnosis segment accounted for more than one-thirds share of the market in 2019.
- By region, Asia-Pacific is anticipated to grow at the highest rate during the analysis period.
𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
• Abbot Laboratories
• Bio-Rad Laboratories
• CSL Ltd.
• Illumina Inc.
• Myriad Genetics Inc.
• Qiagen N.V.
• Thermo Fisher Sicentific, Inc.
Market: By Region Outlook
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
Important Questions Being Answered by This Market Report Are –
Q1. What is genetic testing?
Q2. What is genetic testing product use for?
Q3. What are the key trends in the genetic testing market report?
Q4. Which is base year calculated in the genetic testing market report?
𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
Proteomics Market
Hydrocephalus Shunts Market
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