10 July 2019 –
The Global Genetic Testing Market is expected
to grow at a significant CAGR of 10.32% in the upcoming period as the scope and
its applications are rising enormously across the globe. Genetic Testing, also
termed as DNA testing, is a process of analyzing the person’s chromosomes or
DNA for the presence of particular DNA sequences that encode for traits of
interest. It is mainly used to detect inherited disease causing disease and/or
genes causing mutations.
Prevalence of diseases like cardiovascular and cancer,
growth in acceptance of IT solutions for genetic testing, growing awareness
regarding genetic services, and rising occurrence of common autoimmune diseases
are documented as the major factors that are estimated to enhance the growth in
the years to come.
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Pharmacogenomics testing, prenatal testing, predictive &
presymptomatic testing, and newborn screening are the test types that could be
explored in Genetic Testing in the forecast period. In terms of revenue,
predictive & presymptomatic testing sector accounted for the substantial
market share of Genetic Testing and is estimated to lead the overall market in
the upcoming period. This may be because of growing awareness regarding
diseases like cancer and early diagnosis of diseases.
Specialty clinics, hospital-based laboratories, diagnostics
laboratories, and the other end users could be explored in Genetic Testing and
are estimated to lead the overall market in the near future. The hospital-based
laboratories sector accounted for the significant market share and is estimated
to grow at the highest CAGR in the years to come. This may be because of the
growing number of hospitals. In addition, diagnostic laboratories sector is
estimated to grow at the fastest pace in the near future.
The key players of genetic testing market are CENTOGENE AG,
Elitech Group, Illumina, Inc., ThermoFisher Scientific, Abbott Molecular Inc.,
Eurofins Scientific, 23 And Me, BJI Tech, Roche Diagnostics, Blueprint
Genetics, and Qiagen. These players are concentrating on inorganic growth to
sustain themselves amongst fierce competition.
Market segment by
Type, the product can be split into
• Newborn Screening
• Diagnostic Testing
• Carrier Testing
• Preimplantation Genetic Diagnosis
• Prenatal Diagnosis
• Predictive and Presymptomatic Testing
• Pharmacogenomics
Market segment by
Application, Genetic Testing can be split into
• Assisted Clinical Diagnosis
• Guiding Treatment
• Genetic Diagnosis
• Other
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