NEW YORK, Aug. 18, 2021 /PRNewswire/ -- Do you know that the genetic testing market the size has the potential to grow by USD 5.39 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 12%?
This report provides a detailed analysis and extensively covers market segmentation by product (equipment and consumables), application (predictive and diagnostic testing and pharmacogenomic testing), and geography (North America, Europe, Asia, and ROW). The genetic testing market report also offers information on several market vendors
Some of the major highlights from Technavio's Genetic Testing Market B2B Market report:
- The genetic testing market has the potential to size has the potential to grow by USD 5.39 billion during 2021-2025.
- The rising prevalence of genetic diseases and disorders is notably driving the genetic testing market growth
- The varying regulations on genetic testing globally may impede market growth.
- Abbott Laboratories, Agilent Technologies Inc., bioMerieux SA, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Illumina Inc., Myriad Genetics Inc., QIAGEN NV, Quest Diagnostics Inc., Thermo Fisher Scientific Inc. are a few of the key vendors in the genetic testing market.
- 40% of the market's growth will originate from North America during the forecast period. The US is a key market for genetic testing in North America.
- The genetic testing market vendors should focus on grabbing business opportunities from the equipment segment as it accounted for the largest market share in the base year.
Genetic Testing Market Report: Overview
The Genetic Testing Market forecast report provides insights for your business strategies to reimage themselves. Buy the Genetic Testing Market report to understand the magnitude of the economic impact on each segment.
Genetic Testing Market: Key Drivers & Trends
According to our research output, there has been a positive impact on the market growth post-COVID-19 era. The factors driving the genetic testing market growth are the rising approval of advanced genetic testing products and increasing affordability due to the reduction in the cost of genetic testing. Issues related to product recalls and the lack of trained genetic professionals are the challenges for the Genetic testing market.
The Genetic Testing Market report offers detailed insights on the challenges to stay prepared for the obstacles in the future, which will help companies analyze and develop growth strategies.
Segmentation by Key Vendors | Genetic Testing Market
The Genetic Testing Market forecast report provides insights on complete key vendor profiles and their business strategies to reimage themselves.
- Abbott Laboratories
- Agilent Technologies Inc.
- bioMerieux SA
- Bio-Rad Laboratories Inc.
- F. Hoffmann-La Roche Ltd.
- Illumina Inc.
- Myriad Genetics Inc.
- QIAGEN NV
- Quest Diagnostics Inc.
- Thermo Fisher Scientific Inc.
The Genetic Testing Market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
Segmentation by Key Regions | Genetic Testing Market
40% of the market's growth will originate from North America during the forecast period. The US is a key market for genetic testing in North America.
Growing concerns on early disease diagnosis, a significant rise in commercial approvals for advanced genetic testing products, and the increasing use of pharmacogenomic testing will facilitate the genetic testing market growth in North America over the forecast period.
To garner further competitive intelligence and regional opportunities in store for vendors, View our sample report.
Segmentation by Revenue Generating Product | Genetic Testing Market
The genetic testing market share growth by the equipment segment will be significant during the forecast period. Genetic testing equipment comprises analyzers, PCR systems, and next-generation sequencers.
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Table of Contents
- Key Insights
- Genetic Testing Market Overview
- Market Sizing
- Genetic Testing Market: Key Drivers & Trends
- Genetic Testing Market by – Product, Regions & Vendors
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
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Report: Genetic Testing Market | Size, Share, Growth, Trends | Industry Analysis | Forecast 2025 | Technavio￼￼￼