(PharmaNewsWire.Com, July 13, 2017 ) According to the report “Europe Genetic Testing,” published by Market Data Forecast, the global market is projected to reach USD 11.253 million by 2021 from USD 17.731 million in 2016, at a CAGR of 9.52% from 2016 to 2021.
Genetic Testing Market is a type of medical test that identifies changes in chromosomes, genes, or proteins. The results of a genetic test can confirm or rule out a suspected genetic condition or help determine a person’s chance of developing or passing on a genetic disorder. More than 1,000 genetic tests are currently in use, and more are being developed.
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Several methods can be used for genetic testing. Molecular genetic tests (or gene tests) study single genes or short lengths of DNA to identify variations or mutations that lead to a genetic disorder. Chromosomal genetic tests analyze whole chromosomes or long lengths of DNA to see if there are large genetic changes, such as an extra copy of a chromosome, that cause a genetic condition. Biochemical genetic tests study the amount or activity level of proteins; abnormalities in either can indicate changes to the DNA that result in a genetic disorder.
Genetic testing is voluntary. Because testing has benefits as well as limitations and risks, the decision about whether to be tested is a personal and complex one. A geneticist or genetic counsellor can help by providing information about the pros and cons of the test and discussing the social and emotional aspects of testing.
The primary reason behind the growth of the genetic testing market is the growing awareness lately among the individuals about its potentials. And also, increase of research in the genetic testing space, aging population and rise of chronic disease cases, and growing incidences of cancer cases are the other factors contributing to the growth of genetic testing market,
However, the costs associated with genetic testing are high and may hinder the growth of the market. And also, as there is no credible standard procedure for analysis, the individuals began to develop serious doubts concerning the authenticity of genetic reports, which negatively effects the market.
Genetic testing has become quite prevalent in Europe over the last few years, with recent developments in molecular medicine expected to provide further impetus to this critical area. The integration of these technologies into the healthcare system necessitates that their application is implemented within a responsible framework of accompanying measures and activities.
As a consequence, genetic testing has been subjected to policy debates at various institutional and international levels. The European Commission has recognized certain salient topics involving genetic testing that need further clarity, including regional distribution of genetic services, suggestions for the rationalization of services, methods for improving national accreditation of genetic laboratories, long-term organization of external quality assessment, validation of next generation sequencing platforms and applications, and perspectives on direct-to-consumer genetic testing.
Europe Genetic Testing market: Region-wise Outlook
Furthermore, on the basis of geography, the European Market is analysed under various regions namely, UK, Spain, Italy, Germany and France. While Germany accounts for the largest share of the genetic testing market in Europe, the demand for these tests is likely to be the fastest growing in the United Kingdom during 2016-2021.
Key Questions Answered
• What is the current and future Genetic Testing market outlook worldwide? What trends are affecting the Europe market?
• What is the competitive landscape and market share of major players in the Genetic Testing space in Europe?
• What are the key, high growth markets that Genetic Testing manufacturers should expand into? Which market segments are growing the fastest?
• What are the unmet needs with the Genetic Testing currently on the market? How will emerging technologies fulfil these unmet needs?
• What is physician perception and market outlook of Genetic Testing?
• What are the challenges and barriers that have hindered widespread adoption of Genetic Testing?
Europe Genetic Testing market: Key Players
Some of the major companies in the Europe 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.,
Reasons to buy Europe Genetic Testing market Report:
•Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
• Segment-level analysis on basis of product type, application, colour 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 affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s 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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