The global genetic testing market to proliferate with a compound annual growth rate of 11.53% in the forecast years 2019-2027.
The high growth rate for the genetic testing market can mainly be credited to the increasing emphasis on early disease diagnosis and prevention, the increase in the demand for personalized medicine along and the growing applications of genetic testing in carcinogenic diseases.
Also, the growth in the number of health-conscious people in developed countries is proving to be a significant driver for the growth of the genetic testing market. The growing demand for personalized medicine yields opportunities for market growth.
However, the industry faces certain restraints like the high costs of genetic testing and socio-ethical issues related to genetic testing.
The global genetic testing market has been divided on the basis of type, disease and technology. The type segment is further divided into carrier testing, predictive and pre-symptomatic testing, diagnostic testing, pharmacogenomics, newborn screening, prenatal testing and other types.
Genetic testing types have been anticipated to witness profitable growth. Carrier testing is a type of testing which is used to determine whether a person is a carrier for a specific autosomal recessive disease. Diagnostic testing is used to identify a genetic condition or a disease and the results of diagnostic testing help treat and manage the disorder.
The regions of North America, Europe, Asia-Pacific, the Middle East & Africa and Latin America together form the global genetic testing market.
Despite the presence of key market players in North America that have been investing huge amounts for the development of this field in the region, there are still some challenges faced by the industry such as monetary obstacles due to the rising costs of the production of technology.
The top key players in the genetic testing market are Genomictree, Inc., HTG Molecular Diagnostics, Inc., Illumina, Inc., Abbott Laboratories, Inc., Bio-Rad Laboratories, Danaher Corporation (Cepheid), Daan Diagnostics, Ltd., F. Hoffmann-La Roche, Ltd., Genentech, Inc., Integragen S.A., Laboratory Corporation of America Holdings, Luminex Corporation, Molecular MD Corp (Acquired By Icon), Myriad Genetics, Inc., Natera, Inc., Oxford Biodynamics, Limited, Pacific Biosciences of California, Inc., Perkinelmer, Inc., Qiagen N.V., Roche Diagnostics Corporation and Thermo Fisher Scientific, Inc.
Genentech, Inc. is a biotechnology company which focuses on the R&D and marketing & manufacturing of biotechnology products for treating patients with suffering from life-threatening diseases. The company is an ancillary of Roche Holdings, Inc. In March 2019, the FDA approved Tecentriq', Genentech's product in combination with chemotherapy for the initial treatment of patients with extensive-stage small cell lung cancer.
Key Topics Covered
1. Genetic Testing Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Porter's Five Forces Model
2.2.1. Threat of New Entrants
2.2.2. Threat of Substitute
2.2.3. Bargaining Power of Buyers
2.2.4. Bargaining Power of Suppliers
2.2.5. Threat of Competitive Rivalry
2.3. PESTEL Outlook
2.4. Key Insights
2.5. Market Attractiveness Matrix
2.6. Market Drivers
2.6.1. Rising Trend of Early Diagnosis of Diseases
2.6.2. Rising Demand For Personalized Medicine
2.6.3. Growing Awareness About Cancer and Genetic Testing in Oncology
2.7. Market Restraints
2.7.1. High Price of Genetic Testing
2.7.2. Social and Ethical Issues Associated With Genetic Testing
2.8. Market Opportunities
2.8.1. Increasing Number of Patients Seeking Genetic Counseling and Testing
2.8.2. Surge in Infertility Rate
2.9. Market Challenges
2.9.1. Stringent Regulation
3. Genetic Testings Market Outlook - By Technology
3.1. Cytogenetic Testing
3.2. Biochemical Testing
3.3. Molecular Testing
4. Genetic Testings Market Outlook - By Disease
4.1. Alzheimer's Disease
4.3. Cystic Fibrosis
4.4. Sickle Cell Anemia
4.5. Duchenne Muscular Dystrophy
4.7. Huntington's Disease
4.8. Special Diseases
4.9. Other Diseases
5. Genetic Testings Market Outlook - By Type
5.1. Carrier Testing
5.2. Diagnostic Testing
5.3. Newborn Screening
5.4. Predictive and Presymptomatic Testing
5.5. Prenatal Testing
5.7. Other Types
6. Genetic Testing Market - Regional Outlook
6.1. North America
6.1.1. Country Analysis
18.104.22.168. United States
6.4. Latin America
6.5. Middle East and Africa (MEA)
7. Company Profiling
7.1. Abbott Laboratories Inc.
7.2. Bio-Rad Laboratories
7.3. Danaher Corporation (Cepheid)
7.4. Daan Diagnostics Ltd.
7.5. F. Hoffmann-La Roche Ltd.
7.6. Genentech, Inc.
7.7. Genomictree, Inc.
7.8. HTG Molecular Diagnostics, Inc.
7.9. Illumina, Inc.
7.10. Integragen S.A.
7.11. Laboratory Corporation of America Holdings
7.12. Luminex Corporation
7.13. Molecular MD, Corp. (Acquired By Icon)
7.14. Myriad Genetics Inc.
7.15. Natera, Inc.
7.16. Oxford Biodynamics Limited
7.17. Pacific Biosciences of California, Inc.
7.18. Perkinelmer, Inc.
7.19. Qiagen N.V.
7.20. Roche Diagnostics Corporation
7.21. Thermo Fisher Scientific Inc.
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