Genetic Testing Market Overview 2019 | Industry Analysis with Market Revenue, Gross Margin, Profit, and Research Report Forecast to 2024

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Genetic Testing

The Genetic Testing Market report expects to give a 360-degree perspective available as far as cutting-edge innovation, key improvements, drivers, restrictions and future patterns with effect examination of these patterns available for present moment, mid-term and long term during the forecast period. Further, the report likewise covers key players profiling with point by point SWOT investigation, budgetary certainties and key improvements of items/administration from the previous three years.

The report first poses the Genetic Testing Market basics: definitions, applications, classifications, and market overview; product specifications; manufacturing processes; cost structures, raw materials and more.

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Scope of the Report:

  • This report includes an in-depth study of the genetic testing market. A genetic test is a test performed to identify the presence of a particular gene/s with a particular sequence of the genome. The gene/s can be identified either directly through sequencing or indirectly through various methods. Genetic testing practices are rapidly increasing in rare disease diagnostics and for personalized medicines, which in turn, is fueling the growth of this market.<

    There are 4 key segments covered in this Genetic Testing Systems Market report:

    • Competitor segment
    • Product type segment
    • End-use/application segment
    • Geography segment

    Genetic Testing Market with Key Segments:

    By Product Types: Type 1, Type 2, Type 3

    By Applications: Application 1, Application 2, Application 3

    By Key Players:

  • Abbott Laboratories Inc.
  • Bio
  • Rad Laboratories
  • Danaher Corporation (Cepheid)
  • F. Hoffmann
  • La Roche Ltd
  • Illumina Inc.
  • 23andMe
  • Eurofins Scientific SE (Eurofins)
  • Genesis Healthcare
  • Luminex Corporation
  • Myriad Genetics Inc.
  • Precipio (Transgenomics Inc.)
  • Qiagen
  • Thermo Fisher Scientific Inc.

    Price of Report: $ 4250 (SUL)

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    Market Overview:

  • The genetic testing market has experienced rapid growth in the past few years. The increasing technological advancements from the past few years have opened up several opportunities for market expansion. The rise in the prevalence of chronic diseases and the development of customized testing kits for niche therapeutic areas are aiding the rapid growth of the market.
  • According to a study published by NCBI, as of August 217, there were approximately 75,000 genetic tests available in the market. These include an approximate of 10,000 unique tests. Also, there has been an addition of more than 14,000 tests in the market since March 2014. With about 10 new tests increasing every day for more than four years, the genetic testing market gained high momentum in these years. This trend is expected to continue during the forecast period.
  • The increasing focus by governments of various countries, to regulate and create awareness regarding genetic tests, has successfully resulted in the faster adoption of these tests across the world. The increasing R&D funding, along with the strong market presence by major players in the market, has created a strong entry barrier for new market participants. Innovation in product design, improvement in quality, and strong distribution partnerships are key parameters to retain a competitive edge in the market.
  • The adoption of direct to consumer genetic testing kits in countries, like the United States, China, and Japan, is growing rapidly. With increasing technological adoptions, awareness programs, and a decline in costs, the market for DTC-GT kits is likely to witness a significant boost over the forecast period. Moreover, the untapped countries, like India and Australia, and other developing countries, are expected to offer a lucrative opportunity for players who are looking to establish their base in the genetic testing market.

    Genetic Testing Market Report Provides the Following:

    Genetic Testing Market

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    Key Market Trends:

    Molecular Testing Segment is Expected to Exhibit Fastest Growth Rate over the Forecast Period

    Molecular genetic testing is the study of single genes or short lengths of DNA, to identify the mutations that lead to a genetic disorder. Molecular genetic testing can be used to diagnose many of the genetic disorders, but this type of technology may not be appropriate for diagnosis of all the genetic conditions. For example, molecular genetic testing is available for diseases, such as cystic fibrosis, sickle cell anemia, and Tay-Sachs disease. The initial diagnosis of these disorders usually is established by other methods. Therefore, molecular genetic testing is subject to limitations that must be recognized when ordering such testing.

    The molecular testing market is growing at a good pace. Currently, most of the molecular tests involve either PCR or FISH. In addition, the microarray technology has made it possible to evaluate thousands of loci, which is extensively used for expression analysis, targeted to specific cell signaling pathways, and for metabolic pathways for pathological characterization of tumors as well. The advent of next-generation sequencing has also expanded the market studied in various fields, as it has brought a major increase in throughput capacity through automation, which ultimately leads to faster turnaround time and reduction in costs.

    North America Captured the Largest Market Share and is Expected to Retain its Dominance

    North America currently dominates the market for genetic testing, owing to factors, such as increasing demand for personalized genetic testing services in the region and rise in the prevalence of chronic disorders and genetic disorders. In the United States, two federal agencies have the primary authority to regulate genetic tests: the Food and Drug Administration (FDA) and the Centers for Medicare and Medicaid Services (CMS). In the past, the Federal Trade Commission (FTC) has also played a role in regulating genetic testing companies who advertised false and misleading claims about their products, but this agency currently plays a more minor role in this space.

    Genetic Testing Market Covers Following Points in TOC:

    • Chapter 1: Genetic Testing Market Definition
    • Chapter 2: Research Methodology of Genetic Testing Market
    • Chapter 3: Genetic Testing Market Executive Summary
    • Chapter 4: Genetic Testing Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
    • Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
    • Chapter 6: Genetic Testing Market Segmentation by Types, End-User, and Applications Forecast to 2024
    • Chapter 7: Genetic Testing Market Segmentation by Geographical Regions
    • Chapter 8: Competitive Landscape of Genetic Testing Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
    • Chapter 9: Key Players for Genetic Testing Market

    For Detailed TOC Click Here

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