LONDON--(BUSINESS WIRE)--Technavio has been monitoring the genetic testing market and it is poised to grow by $ 4.86 bn during 2020-2024, progressing at a CAGR of over 12% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions:
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What are the major trends in the market?
Growing adoption of pharmacogenetic testing in reducing adverse drug events is a major trend driving the growth of the market. -
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 11.45% and the incremental growth of the market is anticipated to be $ 4.86 bn . -
Who are the top players in the market?
Abbott Laboratories, Agilent Technologies Inc., bioMérieux SA, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Illumina Inc., Myriad Genetics Inc., QIAGEN NV, Quest Diagnostics Inc., and Thermo Fisher Scientific Inc., are some of the major market participants. -
What is the key market driver?
The rising approval of advanced genetic testing products is one of the major factors driving the market. -
How big is the North America market?
The North America region will contribute 40% of the market share.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Abbott Laboratories, Agilent Technologies Inc., bioMérieux SA, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Illumina Inc., Myriad Genetics Inc., QIAGEN NV, Quest Diagnostics Inc., and Thermo Fisher Scientific Inc. are some of the major market participants. The rising approval of advanced genetic testing products will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Genetic Testing Market 2020-2024: Segmentation
Genetic Testing Market is segmented as below:
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Product
- Equipment
- Consumables
-
End-user
- Clinical Diagnostics Laboratories
- Hospitals
- Biopharmaceutical Companies And Research Centers
-
Application
- Predictive And Diagnostic Testing
- Prenatal, Newborn, And Preimplantation Testing
- Pharmacogenomic Testing
- Forensic, Relationship, And Ancestry Testing
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Geographic Landscape
- Asia
- Europe
- North America
- ROW
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Genetic Testing Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The genetic testing market report covers the following areas:
- Genetic Testing Market Size
- Genetic Testing Market Trends
- Genetic Testing Market Industry Analysis
- Genetic Testing Market Statistics
This study identifies the growing adoption of pharmacogenetic testing in reducing adverse drug events as one of the prime reasons driving the genetic testing market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Genetic Testing Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist genetic testing market growth during the next five years
- Estimation of the genetic testing market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the genetic testing market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of genetic testing market vendors
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Value Chain Analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
- Market Outlook
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Equipment - Market size and forecast 2019-2024
- Consumables - Market size and forecast 2019-2024
- Market opportunity by product
PART 07: MARKET SEGMENTATION BY END-USER
- Clinical diagnostics laboratories
- Hospitals
- Biopharmaceutical companies and research centers
PART 08: MARKET SEGMENTATION BY APPLICATION
- Predictive and diagnostic testing
- Prenatal, newborn and preimplantation testing
- Pharmacogenomic testing
- Forensic, relationship and ancestry testing
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- Asia - Market size and forecast 2019-2024
- ROW - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 10: CUSTOMER LANDSCAPE
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 13: MARKET TRENDS
- Advancements in next-generation sequencing
- Growing adoption of direct-to-consumer genetic tests in early
- disease diagnosis
- Growing adoption of pharmacogenetic testing in reducing adverse
drug events
PART 14: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 15: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Abbott Laboratories
- Agilent Technologies Inc.
- bioMérieux SA
- Bio-Rad Laboratories Inc.
- F. Hoffmann-La Roche Ltd.
- Illumina Inc.
- Myriad Genetics Inc.
- QIAGEN NV
- Quest Diagnostics Inc.
- Thermo Fisher Scientific Inc.
PART 16: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 17: EXPLORE TECHNAVIO
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