The Worldwide Genetic Testing Industry is Expected to Reach $26 Billion by 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Genetic Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global genetic testing market reached a value of US$ 14.36 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 26.39 Billion by 2027, exhibiting a CAGR of 10.67% during 2021-2027.

Profiles of Key Players

• 23andme Inc.
• Ambry Genetics Corporation (Konica Minolta Healthcare Americas Inc.)
• Bio-RAD Laboratories Inc.
• Cepheid (Danaher Corporation)
• Eurofins Scientific
• Illumina Inc.
• Invitae Corporation
• Luminex Corporation (DiaSorin)
• Myriad Genetics Inc.
• QIAGEN
• Quest Diagnostics
• Thermo Fisher Scientific

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Genetic testing, or deoxyribonucleic acid (DNA) testing, refers to a medical technique that identifies changes in the chromosome structure or DNA sequence. It includes the collection and analysis of individual blood samples for examining the genetic condition and the chances of developing or passing various inherited disorders in laboratory settings.

Genetic testing assists in providing accurate results regarding gene mutation, eliminating the need for unnecessary checkups, and making informed decisions to manage health. At present, genetic testing is commercially available in varying types, such as carrier, diagnostic, predictive, presymptomatic and prenatal testing.

The increasing prevalence of genetic and chronic disorders across the growth represents the key factor driving the genetic testing market growth. This is further supported by the implementation of numerous favorable initiatives undertaken by the government bodies and non-governmental organizations (NGOs) for sensitizing masses regarding genetic testing. In line with this, the extensive utilization of genetic testing in pharmacogenomics, or drug-gene testing for examining the response of the body against certain medicines after its interaction with inherited genes, is contributing as another growth-inducing factor.

Additionally, the sudden outbreak of coronavirus disease (COVID-19) pandemic has led to the widespread adoption of virtual testing and the home testing kits for sample collection purposes, which, in turn, is contributing to the market growth. The tremendous technological advancements in genetic testing techniques along with the introduction of DTC-GT (Direct-to-consumer genetic testing) kits are further propelling the market growth. Other factors, such as rising investments in the research and development (R&D) activities in the field of medical science, along with the strategic collaboration amongst top players for launching advanced personalized genetic testing kits, are creating a positive outlook for the market.

Key Questions Answered in This Report:

• How has the global genetic testing market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global genetic testing market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the technology?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global genetic testing market and who are the key players?
• What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Genetic Testing Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Type

7 Market Breakup by Technology

8 Market Breakup by Application

9 Market Breakup by Region

10 SWOT Analysis

11 Value Chain Analysis

12 Porters Five Forces Analysis

13 Price Analysis

14 Competitive Landscape

14.1 Market Structure

14.2 Key Players

14.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/rsoz9y