Dublin, Nov. 11, 2021 (GLOBE NEWSWIRE) -- The "Genetic Testing Market Global Forecast 2021-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
This report provides a detailed analysis of Global Genetic Testing Market
Genetics is the research of genes, their functions and their impacts. Among the numerous types of genetics such as molecular genetics, population genetics, developmental genetics and quantitative genetics, human genetics deals with the inheritance in human beings. Further, genetic testing is defined as medical devices available in kits and panels used to test genetic diseases in humans. Where in the testing is conducted by accumulating samples of blood of patients. These samples are later run on laboratory machines utilizing test kits
Remarkably, the genetic testing market has experienced rapid growth in the past few years. Prominently, the global genetic testing market is driven by the increasing number of patients with genetic diseases and increasing healthcare expenditure by significant economies across the globe. Besides, the growing awareness about genetic conditions, rising investments in research and development, and increasing government support further fuel the market growth. In addition, the increasing technological advancements from the past few years have opened up several opportunities for market expansion
The COVID-19 pandemic has left a notable impact on the growth of the genetic testing market over the crisis. According to the research article issued in Genetics in Medicine 2020, all the clinical genetic testing was limited, and telemedicine-based deliberations and counselling were ratified globally. As per the study, 112 prenatal and 156 clinical genetics/cancer patients were evaluated in one month at the Columbia University Irving Medical Center (CUIMC)
In addition, most genetic testing services have adopted virtualization and home testing kit/home sample collection to oppose the transmission of the SARS-CoV2 virus. Hence, COVID-19 is expected to, directly and indirectly, impact the genetic testing market over the ongoing crisis period
The growing burden of cancers universally and the growing consciousness among the global population on precautionary diagnosis and personalized medication are the major factors driving the cancer segment market over the forecast period. Also, the booming technological elevations and product launches anticipate encouraging the studied fragment. For example, in December 2020, Roche launched the Cobas PIK3CA Mutation Test to identify PIK3CA variations in patients with exceptional or metastatic breast cancer. Consequently, the cancer segment is expected to witness significant growth over the forecast period because of the factors mentioned above
Moreover, the market in the Asia Pacific is energized by the expanding mindfulness about research in congenital infections and consistent ascent in the predominance of hereditary illnesses. Powerful nations adding to the market development are China, Japan, and India because of expanding the accessibility of research offices and nearness of talented workforce, for example, explore researchers and others
The global genetic testing market is highly aggressive, and the prominent players have adopted multiple strategies to garner maximum genetic testing market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market are Abbott Laboratories, Danaher Corporation (Cepheid Inc.), Illumina Inc., BioRad Laboratories Inc. and F Hoffmann-La Roche AG
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Genetic Testing Market
6.1 By Type
6.2 By Technology
6.3 By Application
6.4 By Region
7. Type - Genetic Testing Market
7.1 Predictive Testing
7.2 Carrier Testing
7.3 Prenatal and New-born Testing
7.4 Diagnostic Testing
7.5 Pharmacogenomics Testing
7.6 Nutrigenomic Testing
7.7 Others
8. Technology - Genetic Testing Market
8.1 Cytogenetic Testing
8.2 Biochemical Testing
8.3 Molecular Testing
9. Application - Genetic Testing Market
9.1 Cancer
9.2 Genetic Diseases
9.3 Cardiovascular Diseases
9.4 Others
10. Region - Genetic Testing Market
10.1 Europe
10.2 America
11. Number of Labs by 47 Countries (Genetic Testing Registry)
12. Company Analysis
12.1 Abbott Laboratories
12.1.1 Overview
12.1.2 Recent Development
12.1.3 Financial Insights
12.2 Danaher Corporation (Cepheid Inc.)
12.2.1 Overview
12.2.2 Recent Development
12.2.3 Financial Insights
12.3 Illumina Inc.
12.3.1 Overview
12.3.2 Recent Development
12.3.3 Financial Insights
12.4 BioRad Laboratories Inc.
12.4.1 Overview
12.4.2 Recent Development
12.4.3 Financial Insights
12.5 F Hoffmann-La Roche AG
12.5.1 Overview
12.5.2 Recent Development
12.5.3 Financial Insights
For more information about this report visit https://www.researchandmarkets.com/r/t3vq86
