Polaris Market Research recently published [115+ Pages] research report on “Rare Disease Genetic Testing Market Share, Size, Trends, Industry Analysis Report, By Specialty (Molecular Genetic Tests, Chromosomal Genetic Tests, Biochemical Genetic Tests); By Technology; By Disease Type; By End-Use; By Region; Segment Forecast, 2022 – 2030” in its research database.
According to the research report, the global rare disease genetic testing market share was valued at USD 784.32 million in 2021 and is expected to reach USD 2,414.90 Million By 2030, growing at a CAGR of 13.9% during the forecast period.
What is Rare Disease Genetic Testing? How Big is Rare Disease Genetic Testing Market Share?
- Overview
Genetic testing is a kind of medical test which considers changes in genes, proteins, or chromosomes. It is correlated with several ethical challenges in a single organization and a huge level of healthcare methods. The test results of this test can be confirmed after having a suspension of the genetic condition or helps in determining an individual’s risk.
Moreover, various tests are utilized to identify infrequent genetic diseases, that includes Duchenne muscular dystrophy and fragile x syndrome. Advancement in technology is the major factor propelling the global rare disease genetic testing market demand. Also, the rising frequency of chronic diseases across the globe is uplifting the industry.
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Reasons to Purchase This Report
- The report covers all current and future probabilities in the market.
- The report assists in redeveloping business strategies based on key priorities.
- The report identifies the segment likely to witness considerable growth and revenue maximization.
- The report delivers relevant data on future-ready expansion plans related to the industry.
- The report provides an in-depth assessment of market opportunities available in leading regions
Some of the Top Companies Are:
- 3billion Inc.
- Ambry Genetics
- Artemis DNA
- Arup Laboratories
- Baylor Genetics
- Centogene N.V.
- Color Genomics Inc.
- Coopersurgical Inc.
- Eurofins Scientific
- Fulgent Genetics Inc.
- Genomenon
- Health Network Laboratories
- Invitae Corp.
- Laboratory Corporation of America Holdings
- Macrogen Inc.
- Myriad Genetics Inc.
- Opko Health Inc.
- Perkin Elmer Inc.
- PreventionGenetics
- Progenity Inc.
- Quest Diagnostics Inc.
- Realm IDX Inc.
- Strand Life Sciences
To Know Additional Information on Market Players, Download Sample PDF Brochure
Growth Factors Contributing to the Market
The rare disease genetic testing market share is uplifting due to reducing the price of sequencing. Also, rising advanced data collection, higher-quality registries, and interpretation technologies utilized in clinical practices are anticipated to boost the global market over the foreseen period. Rising government initiatives towards this market are estimated to drive the market.
Furthermore, rising product innovation for rare disorder diagnosis uplifts the global market. The evolution of customized trial kits for determining therapeutic areas is responsible for the rising rare disease genetic testing market size. The reproving role of interpretation research & genomic technologies to uplift the examination and recognition of new modifications is anticipated to boost the global market.
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Recent Developments
- In December 2020, Cell ID Pte. Ltd., a Singapore-based company that manufactures genetic testing products, will launch the Quiz PCR Biochip, a portable genetic test for COVID-19.
- In January 2022, Exact Sciences, a US-based manufacturer of genetic testing tools and a molecular diagnostics company, acquired Prevention Genetics for $190 million. Exact Sciences hopes to increase hereditary cancer testing for more patients as a result of this acquisition.
Segmental Analysis
- Endocrine and metabolism diseases are considered the highest market share
On the basis of disease type, the global endocrine and metabolism diseases segment is accounted for the largest market share in 2021 and anticipated to maintain its dominance over the foreseen period. The factors responsible for the segment’s dominance are the rising requirement for molecular and genetic causes of endocrine disorders, including Cushing’s syndrome, to propel the segment’s growth.
- Next-generation sequencing technology held the highest market share
Based on technology, the next-generation sequencing segment accounted for the largest market share in 2021. This is due to the increasing use of next-generation sequencing-based gene panels for neurologic disease, cancer, pediatric conditions, cardiovascular disease, psychiatric disorders, and other disease testing that propelled the market.
- The research lab & CROs segment is dominating the industry
On the basis of end-use, the rare disease genetic testing market segment is divided into research laboratories & cros, hospitals & clinics, and diagnostic laboratories. Out of all the research, lab and CROs are considered the largest revenue for the rare disease genetic testing market industry.
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Rare Disease Genetic Testing Market: Report Scope
| Report Attribute | Details |
| Market Outlook for 2030 | USD 2,414.90 Million |
| Market Size 2022 Value | USD 852.32 million |
| Expected CAGR Growth | 13.9% from 2022 – 2030 |
| Base Year | 2021 |
| Forecast Year | 2022 – 2030 |
| Top Market Players | 3billion, Inc., Ambry Genetics, Artemis DNA, Arup Laboratories, Baylor Genetics, Centogene N.V., Color Genomics, Inc., Coopersurgical, Inc., Eurofins Scientific, Fulgent Genetics Inc., Genomenon, Health Network Laboratories, Invitae Corp., Laboratory Corporation of America Holdings, Macrogen, Inc., Myriad Genetics, Inc., Opko Health, Inc., Perkin Elmer, Inc., PreventionGenetics, Progenity, Inc., Quest Diagnostics Inc., Realm IDX, Inc., Strand Life Sciences. |
| Segments Covered | By Disease Type, By Technology, By Specialty, By End-Use, By Region |
| Customization Options | Customized purchase options are available to meet your research needs. Explore customized purchase options |
Geographic Overview
- North American region is considered the largest market share
On the basis of geography, the North American region is anticipated to account for the highest market share during the assessment period. This segment held the largest rare disease genetic testing market share due to the rising frequency of numerous disease registries, rare diseases, a significant number of research and development centers for ultra-rare disorders, and considerable investments in disease observation.
Browse the Detail Report “Rare Disease Genetic Testing Market Share, Size, Trends, Industry Analysis Report, By Specialty (Molecular Genetic Tests, Chromosomal Genetic Tests, Biochemical Genetic Tests); By Technology; By Disease Type; By End-Use; By Region; Segment Forecast, 2022 – 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/rare-disease-genetic-testing-market
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Key Questions Answered in The Report
- Who are the competitors in the market?
- What are the prime drivers, growth/decline factors, and challenges?
- How is the industry expected to evolve in the forecasted period?
- What are the consumption patterns across the various regions?
- Which are the key areas of applications and product types that may expect a huge demand in the upcoming period?
- What factors make the market a good long-term investment?
- What are the top firms’ tactics for gaining a share in the market?
Polaris Market Research has segmented the rare disease genetic testing market report based on disease type, technology, specialty, end-use, and regions:
By Disease Type Outlook
- Neurological Disease
- Immunological Disorders
- Hematology Diseases
- Endocrine & Metabolism Diseases
- Cancer
- Musculoskeletal Disorders
- Cardiovascular Disorders
- Dermatology Disease
- Others
By Technology Outlook
- Next-Generation Sequencing
- Whole Exome
- Whole Genome
- Array Technology
- PCR-based Testing
- FISH
- Sanger Sequencing
- Karyotyping
By specialty Outlook
- Molecular Genetic Tests
- Chromosomal Genetic Tests
- Biochemical, Genetic Tests
By End Use Outlook
- Research Laboratories & Cros
- Hospitals & Clinics
- Diagnostic Laboratories
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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