DUBLIN--(BUSINESS WIRE)--The "North America Genetic Testing Services Market to 2027 - Regional Analysis and Forecasts by Type, Disease, Service Provider and Country" report has been added to ResearchAndMarkets.com's offering.
The North America genetic testing services market is expected to reach US$ 7,406.0 Mn in 2027 from US$ 3,044.4 Mn in 2019. The genetic testing services market is anticipated to grow at a growth rate of 12.1% from 2020-2027.
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.
Moreover, increasing focus on advanced method incorporation in healthcare, government and private initiatives for promotion of precision medicine and massive funds from government and private bodies for genetic research is further expected stimulate the growth and contribute to exceptional revenue generation for the genetic testing services market in North America.
The demand for genetic testing in the United States has been expected to witness growth, since the service encompasses a broad range of applications such as, cancer, autoimmune diseases and infectious diseases. In US, the products for genetic testing of pediatric as well as rare diseases has increased significantly. As per the estimates of National Institutes of Health (NIH), in the United States, there are around 25 to 30 million people suffering from rare diseases, accounting for individuals fewer than 200,000 people. Rare diseases are often the result of a genetic mutation; one estimate is that 80% of rare diseases are genetic in nature. Also, 50% of patients with rare diseases are children.
There has been a significant rise in the cases of rare diseases in US during the last decade. In 2009, there were 5,857 catalogued rare disorders, whereas 6,084 number of rare diseases were recorded in 2016, accounting a rate of approximately 30 new rare diseases per year.
Thus the increasing funds and awareness in North America are likely to boost the genetic testing services market and are anticipated to provide significant growth opportunities to the players operating in the market during the forecast period.
The above-mentioned factors are expected to offer broad growth opportunities in the industry, and this is expected to cause the demand for genetic testing services.
North America genetic testing services 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.
Some of the major primary and secondary sources for genetic testing services market included in the report are World Health Organization (WHO), Clinical Laboratory Improvement Amendments (CLIA), National Institutes of Health (NIH), the North American Cancer Information System among others.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the genetic testing services 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 North America genetic testing services 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 North America 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.
Key Topics Covered:
1. Introduction
1.1 Scope Of The Study
1.2 Report Guidance
2. North America Genetic Testing Services Market - Key Takeaways
3. North America Genetic Testing Services Market - Market Landscape
3.1 Overview
3.2 Market Segmentation
3.3 PEST Analysis
3.4 Expert Opinions
4. North America Genetic Testing Services Market-Key Market Dynamics
4.1 Key Market Drivers
4.2 Key Market Restraints
4.3 Social and Ethical Implications of Genetic Testing
4.4 Key Market Opportunities
4.5 Future Trends
4.6 Impact Analysis Of Drivers And Restraints
5. Genetic Testing Services Market - North America Analysis
5.1 North America Genetic Testing Services Market Revenue Forecasts And Analysis
5.2 Market Positioning
5.3 Performance Of Key Players
6. North America Genetic Testing Services Market Analysis - By Type
6.1 Overview
6.2 North America Genetic Testing Services Market, By Type, 2019 & 2027 (%)
6.3 North America Genetic Testing Services Market Revenue And Forecasts To 2027, By Type (Us$ Mn)
6.4 New-born Screening Market
6.5 Prenatal Testing Market
6.6 Predictive Testing Market
6.7 Carrier Testing Market
6.8 Other Testing's Market
7. North America Genetic Testing Services Market Analysis - By Disease
7.1 Overview
7.2 North America Genetic Testing Services Market, By Disease, 2019 & 2027 (%)
7.3 North America Genetic Testing Services Market Revenue And Forecasts To 2027, By Disease (Us$ Mn)
7.4 Cancer Market
7.5 Metabolic Diseases Market
7.6 Cardiovascular Disease Market
7.7 Other Diseases Market
8. North America Genetic Testing Services Market Analysis - By Service Provider
8.1 Overview
8.2 North America Genetic Testing Services Market, By Service Provider, 2019 & 2027 (%)
8.3 North America Genetic Testing Services Market Revenue And Forecasts To 2027, By Disease (Us$ Mn)
8.4 Diagnostic Laboratories Market
8.5 Hospital-Based Laboratories Market
8.6 Clinics Market
9. North America Genetic Testing Services Market Revenue And Forecasts To 2027
9.1 Overview
9.2 North America Genetic Testing Services Market Revenue And Forecasts To 2027, By Country (%)
10. Genetic Testing Services Market -Industry Landscape
10.1 Overview
10.2 Growth Strategies In The Genetic Testing Services Market, 2017-2020
10.3 Organic Developments
10.4 Inorganic Developments
11. Genetic Testing Services Market- Key Company Profiles
11.1 Laboratory Corporation of America Holdings
11.2 F. Hoffman-La Roche Ltd
11.3 Illumina, Inc.
11.4 Quest Diagnostics Incorporated
11.5 Exact Sciences Corporation
11.6 NeoGenomics Laboratories, Inc.
11.7 Eurofins Scientific
11.8 Ambry Genetics
11.9 Centogene AG
11.10 andMe, Inc.
11.11 Thermo Fisher Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/r/la7hii
