The Global Genetic Testing Market size is expected to reach $16.9 billion by 2025, rising at a market growth of 11.2% CAGR during the forecast period
NEW YORK, Sept. 18, 2019 /PRNewswire/ -- The Global Genetic Testing Market size is expected to reach $16.9 billion by 2025, rising at a market growth of 11.2% CAGR during the forecast period.
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Genetic testing is the study of the cells and tissues contained in the gene. In the field of biology and medicine, this study is further implemented to get a better understanding of genetic disorders like cancer, cystic fibrosis, sickle cell anemia, Down syndrome, and others. The report's scope explores the use of gene testing for personalized medicine growth, targeted cancer therapy, and other genetic illnesses.
Novel genetic testing technologies, together with increasing efficiency and accuracy are providing lucrative growth opportunities for the genetic testing market. Furthermore, across the emerging economies, the market is expected to witness exponential growth rates owing to the growing patient ratio and awareness. One of the major trends moving across the genetic testing industry includes the shifting focus on clinical science to bioinformatics.
In the near future, the global genetic testing market is anticipated to record significant development owing to an increase in the incidence of genetic disorders & cancer and an increase in awareness and acceptance of personalized drugs. Additionally, advances in genetic testing methods and the growing application of genetic testing in oncology are anticipated to grow significantly over the coming years.
Based on Type, the market is segmented into Predictive and Presymptomatic Carrier Testing, Prenatal and Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, and Other Types. Based on Technology, the market is segmented into Cytogenetic Testing, Biochemical Testing and Molecular Testing. Based on Application, the market is segmented into Cancer Diagnosis, Genetic Disease Diagnosis, Cardiovascular Disease Diagnosis and Other Applications. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Myriad Genetics, Inc., Empire Genomics LLC, Bio-Rad Laboratories, Inc., Novartis AG, Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., Qiagen N.V., Illumina, Inc., Danaher Corporation, and Abbott Laboratories (Abbott Laboratories Molecular, Inc.).
Scope of the Study
Market Segmentation:
By Type
• Predictive and Presymptomatic Carrier Testing
• Prenatal and Newborn Testing
• Diagnostic Testing
• Pharmacogenomic Testing
• Other Types
By Technology
• Cytogenetic Testing
• Biochemical Testing and
• Molecular Testing
By Application
• Cancer Diagnosis
• Genetic Disease Diagnosis
• Cardiovascular Disease Diagnosis and
• Other Applications
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Myriad Genetics, Inc.
• Empire Genomics LLC
• Bio-Rad Laboratories, Inc.
• Novartis AG
• Agilent Technologies, Inc.
• Thermo Fisher Scientific, Inc.
• Qiagen N.V.
• Illumina, Inc.
• Danaher Corporation
• Abbott Laboratories (Abbott Laboratories Molecular, Inc.)
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