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Global genetic testing services market is expected to reach USD 34,500.13 Million in 2017 to USD 67,100.07 Million by 2025 at a CAGR of 8.72% from 2018 to 2025. Rising incidences of genetic disorders are driving the demand of applications of the gene testing in oncological research. Technological advancements are accelerating the demand of personalized medicines. These are major drivers augmenting the growth of the genetic testing industry.
Market Overview:
Genetic testing is used in the analysis of the changes in chromosomes, proteins, or genes caused by any suspected genetic condition or disease. It is also used in the diagnosis of cancer and plan the treatment. Several genetic tests are used such as new-born screening, prenatal testing, pre-implantation testing, carrier testing, etc. Numerous methods such as chromosomal method, molecular method and biochemical method are used for genetic testing. It is performed for the identification of risk factors, to screen the new-borns, and also in forensics. According to the report by WHO, sickle cell anaemia is one of the most common genetic disorders among people whose ancestors come from Sub-Saharan Africa, South America, Cuba, Central America, Saudi Arabia, India, and Mediterranean countries. Genetic tests in combination with other genomic technologies predict risk of an individual to a disease and also increase the opportunities for players in pharmaceutical industry to grow. For instance, 23andMe provides genetic makeup tests to the consumers. Company also recommends genetic counsellors based on results to help the consumers about the better testing of genes, and the inherited diseases.
Report Description:
Market Dynamics:
Drivers:
Restraints:
Opportunities:
Challenges:
Global Genetic Testing Services Market Key Findings:
All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment.
Segmentation Analysis:
The genetic testing services market is segmented on the basis of product, type, disease, application and end users.
Regional Segmentation Analysis:
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global genetic testing services market with the largest share and was valued around USD 15,180 million in 2017 where as Asia Pacific region is the fastest growing region in the market.
Global Genetic Testing Services Market Competitive Analysis:
Key players in the genetic testing services market are Laboratory Corporation of America Holdings, Genomic Health, Inc., NeoGenomics Laboratories, Inc., Quest Diagnostics, Eurofins Scientific, Ambry Genetics, Hoffmann-La Roche Ltd, Illumina, Inc., CENTOGENE AG, 23andMe, Sequenom, GeneDx, Abbott, Cepheid Inc., ELITech Group, Verinata Health, Inc and others. Top players of the market are making efforts in R&D to increase their footprint in the market. For instance, in 2017, Admera Health Partners collaborated with Helix and launched Genetic tests to assess the risk of inherited high cholesterol, sudden cardiac death, and inherited diabetes. Furthermore, in 2017 Myriad Launched riskScore to enhance the hereditary cancer test myRisk. riskScore. It helps in determining the risk of women to get breast cancer by analyzing their genome.
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Scope
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Key Points |
Information |
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Evaluate Market Potential |
Growth Rates (CAGR %) Value (USD Million) {Market Size} |
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USP of Report |
Industry and Technology Trends Market Evolution Value Chain Analysis Company Share Analysis Competitive & Vendor landscape SWOT Analysis of Each Company Profit Margin Analysis Analysis of More than 30 Countries for Each Segment |
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Base Year |
2017 |
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Historical Years |
2015-2017 |
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Forecast Period |
2018-2025 |
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Regional Analysis |
North America, Europe, Asia Pacific, South America, and Middle East and Africa |
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Countries Analysis |
U.S., Canada, Mexico, Germany, France, Sweden, Netherlands, U.K., Italy, Spain, Turkey, Switzerland, Belgium, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Brazil, Saudi Arabia, UAE, Egypt, Nigeria, South Africa |
This study forecasts revenue and volume growth at global, regional, and country levels from 2015 to 2025. Fior Market Research has segmented the global genetic testing services market on the basis of below mentioned segments:
Global Genetic Testing Services Market, By Test Type:
Global Genetic Testing Services Market, By Application:
Global Genetic Testing Services Market, By Service Provider:
Global Genetic Testing Services Market, By Regions:
List of Table
List of Figures
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Hi John,
Thanks for the report. We've been going through it and see some good data on the market and players. –
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