Home Healthcare Medical Devices Genetic Testing Services Market to 2027

Genetic Testing Services Market to 2027

Publisher: The Insight Partners
Publication Date: February, 2020
Healthcare / Medical Devices
Pages: 178
Delivery Format: PDF

Global Analysis and Forecasts by Type (Predictive Testing, Carrier Testing, Prenatal Testing, New-born Screening and Others), Disease (Cancer, Metabolic Diseases, Cardiovascular Diseases and Others), Service Provider (Diagnostic Laboratories, Hospital-Based Laboratories and Clinics) and Geography

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The global genetic testing service market is expected to reach US$ 22,701.8 Mn in 2027 from US$ 9,546.2 Mn in 2019. The market is estimated to grow with a CAGR of 11.7% from 2019-2027.
The factors driving the growth of genetic testing service include rising prevalence of the genetic diseases and rise in awareness & acceptance of personalized medicines. Also, growing preference towards Direct-To-Consumer (DTC) genetic testing, support of government to adopt genetic testing services is positively impacting the growth of the market in the review period. In addition, various strategic initiatives by the manufacturers, new product launch along with artificial intelligence (AI) powered genetic testing is likely to boost the growth of market.
Genetic testing comprises a broad range of laboratory tests performed to analyze DNA, RNA, chromosomes, proteins, and certain metabolites using biochemical, cytogenetic, or molecular methods or a combination of these methods.
The global genetic testing service market is segmented by type, disease, and service provider. Based on the type, the market is segmented into predictive testing, carrier testing, prenatal testing, newborn screening and others. On the basis of disease, the market is classified as, cancer disease, metabolic diseases, cardiovascular diseases and others. Based on service provider, the market is categorized as, diagnostic laboratories, hospital-based laboratories and clinics.
The global Genetic Testing Service market, based on disease, has been segmented into cancer, metabolic disease, and cardiovascular disease among others. In 2019, the cancer based segment held the largest share of the market. Cancer based segment is expected to register the significant growth during the forecast period due to the rising prevalence of cancer worldwide as about 10% to 20% of all cancers are related to gene mutations that are inherited or passed down through the family.

Some of the important primary and secondary sources included in the report are, the UK Genetic Testing Network (UKGTN), the Japanese Society for Genetic Counseling (JSGC), the European Cancer Information System and others.

Reasons to buy this report:
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the genetic testing service market.

• Highlights key business priorities in order to assist companies to realign their business strategies.

• The key findings and recommendations highlight crucial progressive industry trends in the global genetic testing service market, thereby allowing players across the value chain to develop effective long-term strategies.

• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

• Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

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