Genetic Testing Market by product type, with sales, revenue, price, market share and growth rate by 2024

“Genetic Testing Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Genetic Testing market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).

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

North 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 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 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.

Key Manufacturers Like

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..

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 focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Genetic Testing market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Genetic Testing market have also been involved in the study.

Market Dynamics: –

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

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Key Questions Answered in Market Report: –

What will the market growth rate, Overview and Analysis by Type of Genetic Testing market in 2023?
What are the key factors driving, Analysis by Applications and Countries Genetic Testing market?
What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Genetic Testing?
Who are Opportunities, Risk and Driving Force of Genetic Testing market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
Who are the opportunities and threats faced by the vendors in Genetic Testing space? Business Overview by Type, Applications, Gross Margin and Market Share
What are the Genetic Testing market opportunities, market risk and market overview of the Market?

Lastly, the Global Genetic Testing Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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Study objectives of Genetic Testing Market Report:

To provide a detailed analysis of the market structure along with the Genetic Testing market forecast of various segments and sub-segments of the Genetic Testing market
To provide insights into factors influencing and affecting market growth
To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
To provide economic factors, technology and Genetic Testing market trends that influence 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
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
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South

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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