Genetic testing is the most rapidly escalating segment of the molecular diagnostics market worldwide. It is a medical test that identifies changes in genes, chromosomes, or proteins. Through genetic testing, a professional can confirm or rule out a suspected genetic condition or help determine a persons chance of developing or passing on a genetic disorder. Currently, more than 1,000 genetic tests are in use, and more are in development phase.
Screening for genetic disorders remains to be of fundamental importance in view of the increasing awareness on the importance of predictive and prognostic screening, like maternal screening. The business for screening the new-borns, diagnosing rare and terminal disorders, and predicting the likelihood of occurrence of diseases is showing great potential to expand. Predominantly, genetic tests to screen the new-borns are expected to expand enormously over the coming few years.
However, high charges accompanying the tests and lack of reliable or trustworthy standard procedure has led to serious concerns among individuals. And, with the rising demand for genetic testing, the counsellors are struggling to keep up with the demand, and consumers are faced with unanticipated and lengthy wait times. These factors hindering the growth are posed as short-term challenges for global genetic testing market
Furthermore, the transformation of genetic testing from being a service-driven to a product-driven market is expected to provide a push to the companies in diagnostics industry for the expansion of their operations. Some of the major companies in the global genetic testing market include, Roche Molecular Diagnostics Inc., Abbott Molecular Inc., AutoGenomics Inc., Celera Group, ELITech Group, BioRad Laboratories, PerkinElmer Inc., Roche Diagnostics Corp., Quest Diagnostics Inc., Transgenomic Inc. and Applied Biosystems Inc.,
Market Data Forecast is a firm working in the areas of market research and business intelligence. We have rich experience in research across major industry segments like Healthcare, Agriculture, Food & Beverages etc. and we cater to the needs of both individual and corporate clients. Our research services contribute to key business areas like business process improvement, key decision making and developing appropriate corporate strategy. We are truly committed to our clients and other stakeholders for providing customized research services of the highest quality all the while being an organisation thats trusted for its integrity, respected for its accountability, and admired for its excellence, by both clients and competitors alike.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
