Genetic Tests 2022 market size, company statistics, trends and detailed analysis of major companies based on forecasts through 2028

Genetic Tests 2022 market size, company statistics, trends and detailed analysis of major companies based on forecasts through 2028

The value of the genetic testing market is expected to reach $ 23,143.42 million by 2027 with a CAGR of 11.5% over the forecast period.

The increase in the incidence of blood cancer, genetic diseases, cardiovascular diseases and the increase in the availability of new tests are some of the main factors driving the growth of the global genetic testing market.

Scope of Genetic Tests Market Report:

Genetic testing is a type of medical test that detects changes in chromosomes, genes, or proteins. The results of a genetic test can confirm a suspected genetic condition and help check a person’s chances of developing or passing on a genetic disease. Genetic testing, also called DNA testing. Genetic testing may also contain measurement of the results of genetic changes such as analyzing RNA as an output of gene expression or through biochemical analysis to measure the production of specific proteins. Various types of genetic tests are available to determine disorders such as predictive tests, carrier tests, prenatal and neonatal tests, diagnostic tests, pharmacogenomic tests, nutrigenomics and others. Among all, neonatal tests can identify genetic diseases early in life so that treatment can be started as soon as possible.

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The Genetic Testing Market report is segmented based on test type, application, and regional and national level. Based on the type of test, the genetic testing market is categorized into predictive testing, carrier testing, prenatal and neonatal testing, diagnostic testing, pharmacogenomic testing, nutrigenomics, and others. Based on the application, the genetic testing market is classified into cancer, genetic diseases, cardiovascular diseases and others.

Key Players of the Genetic Tests Market:

  • Ambry Genetics
  • Integrate Gen
  • BGIA
  • Roche diagnostics
  • Biocartis NV Group
  • Bio Helix Co. srl
  • bioMerieux SA
  • Abbot
  • Genetic project
  • Mission diagnostics
  • deCODE Genetics
  • GeneDx
  • Genomic Health Inc.
  • LabCorp (Laboratory Corporation of America Holdings)
  • Invite Corporation
  • Luminex Corporation
  • Molecular MD
  • Myriad Genetics Inc.
  • California Pacific Biosciences Inc.
  • Pathway Genomics Corporation
  • qiagen
  • Siemens Healthineers AG
  • HTG Molecular Diagnostics Inc.

Segmentation of the genetic testing market

By type of test: –

  • predictive tests
  • vector test
  • Prenatal and neonatal tests
  • Diagnostic tests
  • Pharmacogenomic tests
  • Nutrigenomics
  • Other

By application: –

  • cancer
  • genetic diseases
  • Cardiovascular disease
  • Other

Market Dynamic Genetic Tests –

The increase in the incidence of blood cancer, genetic diseases, cardiovascular diseases, technological advances and the availability of new tests are some of the main factors driving the growth of the global genetic testing market. According to the American Heart Association, approximately 2,200 Americans die of the disorder every day, an average of 1 death every 40 seconds. According to the Leukemia Research Foundation, every three minutes, someone is diagnosed with blood cancer, more than 175,000 new cases are expected in the United States in 2019. In addition, leukemia is diagnosed 10 times more often in adults than in children. New cases of leukemia, lymphoma and myeloma are expected to account for 10% of the estimated 1,762,450 new cancer cases diagnosed in the United States in 2019. According to the American Cancer Society, estimates of leukemia in the United States for 2020 are about 60,530 new cases of leukemia and 23,100 deaths from leukemia in all ages, as well as about 19,940 new cases of acute myeloid leukemia in adults alone. In addition, due to the advancement in cancer research, more cancer patients being treated successfully will spur the growth of the markets. However, the high costs of genetic testing and the lack of qualified professionals will hinder the development of the genetic testing market. According to the National Institutes of Health, the cost of genetic testing can range from less than $ 100 to more than $ 2,000, depending on the nature and complexity of the test. However, innovations and advanced development in genetic testing and increasing investment in cancer research are expected to increase the growth opportunities of the genetic testing market.

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Regional analysis-

North America

Europe

  • Germany, France, United Kingdom, Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, United Arab Emirates, Egypt, South Africa, Rest of the MEA

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