Genetic Testing Market Growing at 9.65% CAGR to 2019

Jul 27, 2015, 14:20 ET from ReportsnReports

DALLAS, July 27, 2015 /PRNewswire/ -- adds Global Genetic Testing Market 2015-2019 research report that says major segments such as pharmacogenomics testing and predictive testing are expected to make significant contributions to the revenue of the overall market in the next few years.

Complete report on genetic testing market spread across 82 pages, analyzing 5 major companies and supported with 33 data exhibits is now available at .

Early diagnosis and personalized medicine are boosting the genetic testing market growth according to this new research report. Early disease diagnosis helps reduce hospital stays and treatment costs by enabling treatment in the early stages of the disease. Genetic testing also lets a patient take advantage of personalized medicine, which uses molecular markers to identify disease risk before clinical symptoms appear. Consumers who are not benefiting from general medicine can undergo personalized treatment based on a study of their genomic sequence. Personalized medicine focuses on prevention and early treatment rather than simply reacting to the advanced stages of a disease. It also offers the chance to focus on prevention and early treatment rather than on reaction to the advanced stages of a disease. For instance, in breast cancer, BRCA1 and BRCA2 genetic tests are used to guide preventive measures. With the completion of the human genome project and advances in genomics, proteomics, and metabolomics, consumers are moving toward personalized medicine. Thus, growing demand for personalized medicine will have a positive impact on the market.

According to the report, Down's syndrome, sickle cell anemia, and cystic fibrosis are some of the genetic disorders caused by the presence of a gene mutation. According to the World Health Organization, the global prevalence of all single-gene diseases at birth is approximately 10 per 1,000 births. Sickle cell anemia is one of the examples of a genetic disease that affects millions worldwide. In the US alone, it affects around 72,000 people every year, and over 300,000 babies with severe hemoglobin disorders are born each year. Thus, the rise in the incidence of genetic diseases will drive the global genetic testing market. Further, the report states that the high cost of various genetic tests may act as a hindrance to the growth of the market. Order a copy of Global Genetic Testing Market 2015-2019 research report at .

Abbott Laboratories, BioRad Laboratories, Qiagen, Quest Diagnostics and Roche Diagnostics are the major genetic testing market companies discussed in this research. Other prominent vendors simply mentioned in this report include Biocartis, BioMerieux, Cepheid, EKF Diagnostics, Elitech, IntegraGen, Interpace Diagnostics, Luminex, Myriad Genetics, PerkinElmer, Seegene and WaferGen Biosystems.

This genetic testing market research analyses the solutions and products offered by market vendors and presents a comprehensive breakdown in terms of market segmentation for different applications, including pharmacogenomics testing, predictive testing, prenatal testing, and newborn testing. Additionally, analysts have segmented market projections by key geography, focusing on the APAC region, EMEA, and the Americas. The report also indicates that according to the US National Academy of Sciences, personalized medicine is the use of genomic, epigenomic, and other data to determine individual patterns of disease, that can lead to better treatment.

To calculate the genetic testing market size, this research considered revenue generated from various genetic testing, including pharmacogenomics testing, predictive testing, prenatal testing, and newborn testing. High costs and reimbursement issues are the major industry challenges discussed in this report. Genetic testing is the most profitable and rapidly expanding segment of molecular diagnostics. It is the array of techniques used for the analysis of DNA, RNA, and protein. It is used as a medical tool to determine the genetic defects associated with a particular disease. Genetic testing is also used in non-clinical applications such as paternity testing and forensics. In clinical applications, the primary focus of genetic testing is to identify the genetic reason for the cause of a disease, confirm a suspected diagnosis, prediction of future disease, to identify when an individual may pass his/her hereditary information to kids, and to predict treatment response in a patient. Genetic testing is also used to screen new-born babies, foetuses, or embryos used in vitro fertilization for genetic defects. The genetic testing market is categorized based on its applications into pharmacogenomics testing, predictive testing, prenatal and neonatal testing.

For the biotechnology market, on a related note, has a wide range of other newly published research reports available from industry experts:

Global Prenatal and Newborn Genetic Testing Market 2015-2019: Analysts forecast this market to grow at a CAGR of 31.91% over the period 2014-2019. The Global Prenatal and Newborn Genetic Testing market can be divided into two segments: Diagnostic Techniques and Screening Methods. To calculate the market size, the report considers revenue generated from these segments. The report covers the Americas, and the APAC and EMEA regions; it also covers the Global Prenatal and Newborn Genetic Testing market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. Agilent Technologies, Bio-Rad Laboratories, Illumina and Sequenom are the major companies discussed in this research available at .

Global High Content Screening (HCS) Market 2015-2019 : Forecast to grow at 11.53% CAGR, the HCS market research segments the industry into three customer segments: Pharmaceutical and biotechnology companies, academia and research institutes, and contract research organizations. Becton, Dickinson and Company, GE Healthcare, Danaher, PerkinElmer, Thermo Fisher Scientific, Blue Sky Bioservices, Cell Signaling Technology, Charles River Laboratories International, Cytoo, EMD Millipore, Evotec, Fluofarma, Genedata, Imagen Biotech, Thorlabs, Tecan, Vala Sciences, Wako Automation and Yokogawa are companies mentioned in this research available at .

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