(PharmaNewsWire.Com, June 07, 2017 ) According to the report Global Genetic Testing Market, published by Market Data Forecast, the global market is projected to reach USD 59.01 Million by 2021, at a CAGR of 9.51% from 2016 to 2021.
Genetic Testing Market Industry is the analysis of genes, chromosomes, or proteins to predict the risk of diseases, identify carriers (individuals who do not have the disease but have a copy of the disease gene) of disease, diagnose diseases, or determine the likely course of a disease. Genetic testing has enabled the easy diagnosis of diseases, such as sickle cell anaemia, haemophilia, and cystic fibrosis, helping several patients in leading a normal life.
The growing incidence of genetic diseases unravels new opportunities for genetic testing and its related applications. The transformation of genetic testing from being a service-driven market to a product-driven market is anticipated to provide a push to the diagnostic companies for the expansion of their operations. Currently the highly attractive segment in molecular diagnostics market is the genetic testing as the need to provide superior healthcare is growing day by day. It is a sophisticated form of medical testing for identification of slightest modification in chromosomes, genes, or proteins that are associated with inherited disease conditions.
The factors affecting the Global Market for Genetic Testing Market, either positively or negatively are presented in the DROC analysis. Some of the things discussed in the section like Growing awareness about the potential benefits, advancements in the genetic testing space, aging population and a subsequent rise in the number of chronic diseases, and rising incidences of cancer cases. However, high costs associated with testing and lack of credible standard procedure has led to serious doubts among individuals concerning the authenticity of genetic reports.
For granular level understanding the Genetic Testing Market is segmented based on the following categories with Market Size Estimations and Y-o-Y Forecasts presented for each sub-segment.
On the basis of geography, the global market is analysed under various regions namely North America, Latin America, Europe, Asia-Pacific, Middle-East & Africa. The US represents the largest market for genetic testing worldwide. Screening for genetic mutations within the CFTR (Cystic Fibrosis Trans-Membrane Conductance Regulator) gene is the most recurrently conducted test in the US. For more of regional analysis check out the following reports.
North America Genetic Testing Market
Europe Genetic Testing Market
Asia-Pacific Genetic Testing Market
Latin America Genetic Testing Market
Middle East and Africa Genetic Testing Market
Some of the major companies in the global genetic testing market include, Abbott Laboratories, 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.,
The Genetic Testing Market study offers the following deliverables:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is blooming
Segment-level analysis on basis of type, application, and end user along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of macro and micro environmental factors that effect the global market presented in an extensive strategic analyses section containing PESTLE and Porters Five Forces Analyses
A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, they cater to the needs of both individual and corporate clients. From all-encompassing umbrella markets to extremely specific niche markets covering all the major regions across the globe as part of the research scope, their research services offer one of a kind specialities with competitive pricing options.
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