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Exclusive Report on Genetic Testing Market 2019 | Industry Drivers, Business Plans, Types, Applications, Challenges, Opportunities and Latest Trends Forecast to 2024

Genetic

The “Genetic Testing Market” 2019 report provides market size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries. Genetic Testing Market report also aims to provide useful and comprehensive insights into current market trends and future growth scenarios. Genetic Testing market report contains information like SWOT analysis, business highlights, strength, weakness, threats and opportunities of industry.

Top Manufacturers of Genetic Testing Market Are:

  • Abbott Laboratories Inc.
  • Bio
  • Rad Laboratories
  • Danaher Corporation (Cepheid)
  • F. Hoffmann
  • La Roche Ltd
  • Illumina Inc.
  • 23andMe
  • Eurofins Scientific SE (Eurofins)
  • Genesis Healthcare
  • Luminex Corporation
  • Myriad Genetics Inc.
  • Precipio (Transgenomics Inc.)
  • Qiagen
  • Thermo Fisher Scientific Inc.

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    Market Overview:

  • The genetic testing market has experienced rapid growth in the past few years. The increasing technological advancements from the past few years have opened up several opportunities for market expansion. The rise in the prevalence of chronic diseases and the development of customized testing kits for niche therapeutic areas are aiding the rapid growth of the market.
  • According to a study published by NCBI, as of August 217, there were approximately 75,000 genetic tests available in the market. These include an approximate of 10,000 unique tests. Also, there has been an addition of more than 14,000 tests in the market since March 2014. With about 10 new tests increasing every day for more than four years, the genetic testing market gained high momentum in these years. This trend is expected to continue during the forecast period.
  • The increasing focus by governments of various countries, to regulate and create awareness regarding genetic tests, has successfully resulted in the faster adoption of these tests across the world. The increasing R&D funding, along with the strong market presence by major players in the market, has created a strong entry barrier for new market participants. Innovation in product design, improvement in quality, and strong distribution partnerships are key parameters to retain a competitive edge in the market.
  • The adoption of direct to consumer genetic testing kits in countries, like the United States, China, and Japan, is growing rapidly. With increasing technological adoptions, awareness programs, and a decline in costs, the market for DTC-GT kits is likely to witness a significant boost over the forecast period. Moreover, the untapped countries, like India and Australia, and other developing countries, are expected to offer a lucrative opportunity for players who are looking to establish their base in the genetic testing market.

    Scope of the Report:

  • This report includes an in-depth study of the genetic testing market. A genetic test is a test performed to identify the presence of a particular gene/s with a particular sequence of the genome. The gene/s can be identified either directly through sequencing or indirectly through various methods. Genetic testing practices are rapidly increasing in rare disease diagnostics and for personalized medicines, which in turn, is fueling the growth of this market.<

    Genetic Testing Market Report Answers the Following Questions:

    • What will the market size and the growth rate be in 2024?
    • What are the key factors driving the global Genetic Testing market?
    • What are the key market trends impacting the growth of the global Genetic Testing market?
    • What are the challenges to market growth?
    • Who are the key vendors in the global Genetic Testing market?
    • What are the market opportunities and threats faced by the vendors in the global Genetic Testing market?
    • Trending factors influencing the market shares of the relevant regions.
    • What are the key outcomes of the five forces analysis of the global Genetic Testing market?

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    Key Market Trends:

    Molecular Testing Segment is Expected to Exhibit Fastest Growth Rate over the Forecast Period

    Molecular genetic testing is the study of single genes or short lengths of DNA, to identify the mutations that lead to a genetic disorder. Molecular genetic testing can be used to diagnose many of the genetic disorders, but this type of technology may not be appropriate for diagnosis of all the genetic conditions. For example, molecular genetic testing is available for diseases, such as cystic fibrosis, sickle cell anemia, and Tay-Sachs disease. The initial diagnosis of these disorders usually is established by other methods. Therefore, molecular genetic testing is subject to limitations that must be recognized when ordering such testing.

    The molecular testing market is growing at a good pace. Currently, most of the molecular tests involve either PCR or FISH. In addition, the microarray technology has made it possible to evaluate thousands of loci, which is extensively used for expression analysis, targeted to specific cell signaling pathways, and for metabolic pathways for pathological characterization of tumors as well. The advent of next-generation sequencing has also expanded the market studied in various fields, as it has brought a major increase in throughput capacity through automation, which ultimately leads to faster turnaround time and reduction in costs.

    North America Captured the Largest Market Share and is Expected to Retain its Dominance

    North America currently dominates the market for genetic testing, owing to factors, such as increasing demand for personalized genetic testing services in the region and rise in the prevalence of chronic disorders and genetic disorders. In the United States, two federal agencies have the primary authority to regulate genetic tests: the Food and Drug Administration (FDA) and the Centers for Medicare and Medicaid Services (CMS). In the past, the Federal Trade Commission (FTC) has also played a role in regulating genetic testing companies who advertised false and misleading claims about their products, but this agency currently plays a more minor role in this space.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    The report provides key statistics on the market status of the Genetic Testing Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Genetic Testing.

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    Report Objectives:

    • Analyzing the size of the Genetic Testing market on the basis of value and volume.
    • Accurately calculating the market segments, consumption, and other dynamic factors of different sections of the global Genetic Testing market.
    • Determining the key dynamics of the Genetic Testing market.
    • Highlighting significant trends of the Genetic Testing market in terms of manufacture, revenue, and sales.
    • Deeply summarizing top players of the Genetic Testing market and showing how they compete in the industry.
    • Studying industry processes and costs, product pricing, and various trends related to them.
    • Displaying the performance of different regions and countries in the global Genetic Testing market.

    Detailed TOC of Genetic Testing Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Increasing Emphasis on Early Disease Detection and Prevention
    4.2.2 Growing Demand for Personalized Medicine
    4.2.3 Increasing Application of Genetic Testing in Oncology
    4.3 Market Restraints
    4.3.1 High Costs of Genetic Testing
    4.3.2 Social and Ethical Implications of Genetic Testing
    4.4 Industry Attractiveness – Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Carrier Testing
    5.1.2 Diagnostic Testing
    5.1.3 Newborn Screening
    5.1.4 Predictive and Presymptomatic Testing
    5.1.5 Prenatal Testing
    5.1.6 Other Types
    5.2 By Disease
    5.2.1 Alzheimer’s Disease
    5.2.2 Cancer
    5.2.3 Cystic Fibrosis
    5.2.4 Sickle Cell Anemia
    5.2.5 Duchenne Muscular Dystrophy
    5.2.6 Thalassemia
    5.2.7 Huntington’s Disease
    5.2.8 Rare Diseases
    5.2.9 Other Diseases
    5.3 By Technology
    5.3.1 Cytogenetic Testing
    5.3.2 Biochemical Testing
    5.3.3 Molecular Testing
    5.4 Geography
    5.4.1 North America
    5.4.1.1 US
    5.4.1.2 Canada
    5.4.1.3 Mexico
    5.4.2 Europe
    5.4.2.1 Germany
    5.4.2.2 UK
    5.4.2.3 France
    5.4.2.4 Italy
    5.4.2.5 Spain
    5.4.2.6 Rest of Europe
    5.4.3 Asia-Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 Australia
    5.4.3.5 South Korea
    5.4.3.6 Rest of Asia-Pacific
    5.4.4 Middle East & Africa
    5.4.4.1 GCC
    5.4.4.2 South Africa
    5.4.4.3 Rest of Middle East & Africa
    5.4.5 South America
    5.4.5.1 Brazil
    5.4.5.2 Argentina
    5.4.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Abbott Laboratories Inc.
    6.1.2 Bio-Rad Laboratories
    6.1.3 Danaher Corporation (Cepheid)
    6.1.4 F. Hoffmann-La Roche Ltd
    6.1.5 Illumina Inc.
    6.1.6 23andMe
    6.1.7 Eurofins Scientific SE (Eurofins)
    6.1.8 Genesis Healthcare
    6.1.9 Luminex Corporation
    6.1.10 Myriad Genetics Inc.
    6.1.11 Precipio (Transgenomics Inc.)
    6.1.12 Qiagen
    6.1.13 Thermo Fisher Scientific Inc.

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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