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Global Genetic Testing Market

March 16, 2018

Global Genetic Testing Market, By Type (Predictive and Presymptomatic Testing, Carrier Testing, Prenatal & Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, Nutrigenomic Testing, and Others), By Technology (Cytogenetic Testing, Biochemical Testing, and Molecular Testing), By Application (Alzheimer’s Disease, Cancer, Cystic Fibrosis, Sickle Cell Anemia, Duchenne Muscular Dystrophy, Huntington’s Disease, Thalassemia, and Others) By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)- Global Forecast, 2020-2025.

Report Code :FMR310      
Industry : Biotechnology
Pages :207 Pages
Format :   PPT Format   PDF Format

The global genetic testing market was valued at US$ xx million in 2019. This market is estimated to be valued at US$ xx million in the year 2020, and it is expected to reach US$ xx million by the year 2025, with an estimated CAGR of xx% during the forecast period (2020−2025). Genetic testing is the study of gene present in tissues and cells. This study is further applied in the field of biology and medicine to know more about genetic disorders including down syndrome, sickle cell anemia, cancer, cystic fibrosis, and others. The study discusses the use of gene tests for the development of targeted cancer treatment, personalized medicine, and other genetic diseases. Moreover, it highlights a wide range of techniques such as biochemical testing, cytogenetic testing/chromosome analysis, molecular testing, and DNA sequencing, which includes comparative genomic hybridization, karyotyping, fluorescence in situ hybridization, and others that are used for the screening of cancers and genetic abnormalities.

Table 1. Global Genetic Testing Market Synopsis

Parameters

Description

Market Value (US$ Mn) for the Period

2018-2025

Base Year

2019

Forecast Period

2020-2025

Market Segmentation (By Type)

Predictive and Presymptomatic Testing, Carrier Testing, Prenatal & Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, Nutrigenomic Testing, and Others

Market Segmentation (By Technology)

Cytogenetic Testing, Biochemical Testing, and Molecular Testing

Market Segmentation (By Application)

Alzheimer’s Disease, Cancer, Cystic Fibrosis, Sickle Cell Anemia, Duchenne Muscular Dystrophy, Huntington’s Disease, Thalassemia, and Others

Regions Covered

North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa

Key Players Coverage

Abbott Laboratories, Bio-Rad Laboratories, Inc. (RainDance Technologies, Inc.), Myriad Genetics, Inc. (Myriad RBM, Inc.), Danaher Corporation (Cepheid), F. Hoffmann-La Roche Ltd., Eurofins Scientific, Illumina, Inc., Qiagen N.V., Novartis International AG, and Thermo Fisher Scientific, Inc. The other players in the genetic testing industry include Agilent Technologies, Inc., Empire Genomics, LLC, Irvine Scientific, PerkinElmer, Inc., and Sysmex Corporation, among others.

Key Insights

  • Latest Updates
  • Analyst Views
  • Future Outlook of the Market

Market Dynamics

The global genetic testing market is anticipated to register considerable growth in the forecast period due to increasing incidence of cancer & genetic disorders as well as rise in acceptance & awareness of personalized medicines. Additionally, advancements in genetic testing techniques and growing application of genetic testing in oncology are anticipated to propel the market growth during the review period. Diagnosis at the right time saves lives and reduces the number of deaths. According to The Institute for Health Metrics and Evaluation (IHME), about 8.9 million cancer deaths were documented in 2016, triggered by inheriting genetic mutation.

Increasing prevalence of numerous types of cancer such as breast cancer, prostate cancer, and lung cancer coupled with growing awareness pertaining to early detection of cancer are anticipated to boost the growth of the global genetic testing market. However, concerns regarding standardization of genetic testing-based diagnostics and stringent regulatory requirements for product approvals are expected to restrain the genetic testing market growth during the review period.

Figure 1. PORTER’S Analysis

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

North America genetic testing market held the largest share in 2019 and will witness lucrative growth over the forecast period. An increasing geriatric population with surged incidence of chronic diseases is expected to augment the regional industry expansion. Moreover, government initiatives are expected to fuel the genetic testing industry growth in North America. For instance, the National Genome Research Institute (NHGRI) has introduced a program, IGNITE (Implementing Genomics in Practice), which is expected to help enhance adoption of genetic testing. These factors are expected to boost growth of the genetic testing market during the forecast period.

Europe, is also expected to offer lucrative growth in the genetic testing market during forecasted period. This can be attributed to increasing adoption of genetic testing by people in this region, increase in awareness about genetic testing by government and launch of new technologies by key manufacturers. For instance, in November 2017, Dante Labs launched its first DNA tests available in Europe. This will allow the public to test their health and wellbeing from the comfort of their own homes.

Figure 2. Regional Analysis

 

Note: The above figure shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

Competitive Landscape

Major players in the global genetic testing market include: Bio-Rad Laboratories, Inc. (RainDance Technologies, Inc.), Abbott Laboratories, Myriad Genetics, Inc. (Myriad RBM, Inc.), Danaher Corporation (Cepheid), F. Hoffmann-La Roche Ltd., Eurofins Scientific, Illumina, Inc., Qiagen N.V., Novartis International AG, 23andMe, and Thermo Fisher Scientific, Inc. The other players in the genetic testing industry include Empire Genomics, LLC, Agilent Technologies, Inc., Irvine Scientific, PerkinElmer, Inc., and Sysmex Corporation, among others.

The key companies focus on strategic initiatives including mergers, joint ventures, acquisitions, and product launches to maintain their market position. For instance, in April 2019, Helix and Perkin Elmer collaborated to launch GenePrism, a new genetic screening test, which offers the most comprehensive clinical-grade DNA sequencing and interpretation for determining underlying disease risks. In addition, in April 2018, BGI Genomic launched BGI Sentis HPV, a tool for screening HPV to screen for cervical cancer the HPV testing is used.

Figure 3. Market Share of Key Players, 2019

 

Note: The above figure shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

By Type

  • Predictive and Presymptomatic Testing
  • Carrier Testing
  • Prenatal & Newborn Testing
  • Diagnostic Testing 
  • Nutrigenomic Testing
  • Pharmacogenomic Testing
  • Others

By Technology

  • Cytogenetic Testing
  • Biochemical Testing
  • Molecular Testing

By Application

  • Alzheimer’s Disease
  • Cancer
  • Cystic Fibrosis
  • Sickle Cell Anemia
  • Duchenne Muscular Dystrophy
  • Huntington’s Disease
  • Thalassemia
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
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Note: This report provides an in-depth analysis of the global genetic testing market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2025), considering 2019, as the base year.

  • What are the trends adopted by key players in the global genetic testing market?
  • What key factors are expected to increase the demand for genetic testing market during the forecast period 2020-2025?
  • What are the major challenges inhibiting the growth of the global genetic testing market?
  • What is the total market value (US$ Mn) generated in the global genetic testing market by type in 2019, and what are the forecasts by 2025?
  • Which technology is expected to dominate the global genetic testing market in the coming years?
  • Which application contribute highest CAGR (%) in the genetic testing market?
  • What was the total revenue generated by the global genetic testing market across different regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa) in 2019, along with CAGR (%) for the period (2020-2025)?
  • Who are the key players contributing to the growth of the global genetic testing market, and what are the new strategies adopted by them to retain a market share in the industry?
  • What is the competitive strength of the key players in the global genetic testing market?
  • What are the major outcomes derived from Porter’s five forces?
  • What are the new products which are going to be approved or launched in the upcoming years, which may have a huge impact on the market?
  • What insights are derived through the analysis of key players on the following parameters: company overview, financial performance, product portfolio, geographical presence, key highlights, and strategies?

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