Genetic testing market 2018 – 2024 : Top Players – Abbott Molecular, Bayer Diagnostics, Biocartis, BioHelix, BioMerieux, BGI, Celera Genomics, Cepheid, Counsyl, deCODEme, Genentech, Genomictree, Genomic Health
Technically, genetic testing consists of mapping the genes, proteins and chromosomes from a sample of blood or body fluids extracted from a subject. The aim is to identify any genetic diseases that cannot be diagnosed easily, or those which lack the presence of any external symptoms and do not have a firm diagnostic solution. Genetic diseases like Huntington’s disease, haemophilia, cystic fibrosis and sickle cell anemia are some examples which are difficult to diagnose. The prevalence of many fatal diseases like cancer that, without genetic testing, remain undiscovered until too late, make treatments ineffective or futile.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2490
Speaking of the significance of cancer diagnosis, The Institute for Health Metrics & Evaluation (IHME) revealed that in 2016 approx. 8.9 million deaths were caused by cancer, of which reportedly 5-10% were triggered due to genetic mutations inherited by the patient. The mounting cases of different types of malignant diseases such as prostate, lung and breast cancers have stimulated the cancer diagnosis segment within the genetic testing industry, which apportioned a revenue of about USD 5.5 billion in 2017.
A prime characteristic that makes genetic testing an ingenious process is the ability to map the genes up to the lowest molecular level, for determining the host’s uniqueness. It enables doctors to find out any other problems a person has or is at a risk of contracting a certain disease in the future. The unique genetic mutations or traits detected in the tests will help to develop treatments and medicines tailor-made for an individual. Further, depending on what kind of diet & exercise does a person better respond to, a suitable fitness regimen for yielding the best results can be determined.
A distinct example of personalized treatment is a test created for people suffering from depression. As per records, SSQ Life insurance is partnering with BiogeniQ Inc. to offer genetic testing to members taking leave on account of depression. The testing will identify appropriate treatment and reduce the risk of side-effects along with enhancing the results of overall treatments. The augmented preference towards personalized medication and exclusive treatments to counter imminent risks is expected to propagate the genetic testing market.
Apart from diagnosing diseases and offering treatments to adults, the genetic testing industry has started to cater the demand for prenatal testing and newborn screening. Testing during pregnancy assists to identify any diseases the fetuses may have, although not all the possible inherited disorders, and help in parents taking decisions. It also helps to reduce miscarriage risks in early stages of pregnancy, an advantage that will highly influence the genetic testing industry.
Newborns can be tested a day or two after birth to detect any disorders and start treatments early, before any critical stage is reached. For instance, a girl born in Wisconsin, USA in 2003 was diagnosed with having phenylketonuria (PKU), an inherited and treatable metabolic disorder, a few days after her birth. Detected through newborn screening process, the ailment does not allow the phenylalanine amino acid to be processed and if untreated could lead to mental retardation. The parents in this case worked with a dietician to develop special diet and formula which she was then restricted to.
Reportedly, the treatment worked, and the girl grew up without the threatening life-long disability. Many such instances worldwide have displayed the potential of the genetic testing industry in newborn screening, which is also being affected by the growing consciousness regarding hereditary disorders.
Make Inquiry about this report @ https://www.gminsights.com/inquiry-before-buying/2490
The genetic testing market, estimated to show 11.6% CAGR over 2018-2024, has witnessed phenomenal upsurge in terms of technological progress and commercialization. There are techniques to find out people who are not affected themselves but carry a gene that can induce disease in the next generation. Research in genetic testing is conducted for learning more about the human body and the contribution of genes. A more commonly known use of genetic testing is forensics, where DNA sequences are studied to identify criminals.
A wide area of application and prolific success in the medicine industry has propelled the genetic testing market, constituted of key players like Abbott Molecular, Bayer Diagnostics, 23andMe, Myriad Genetics, Natera, PacBio, Roche Diagnostics, BioHelix among others. In terms of commercialization, the overall fraternity is expected to surpass USD 22 billion by 2024.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Genetic testing market 2018 – 2024 : Top Players – Abbott Molecular, Bayer Diagnostics, Biocartis, BioHelix, BioMerieux, BGI, Celera Genomics, Cepheid, Counsyl, deCODEme, Genentech, Genomictree, Genomic Health here
News-ID: 1193274 • Views: 554
More Releases from Global Market Insights, Inc.
Global sodium metasilicate pentahydrate market size by 2025 | Top Companies are …
Global Market Insights, Inc., says that sodium metasilicate pentahydrate market may exceed USD 875 million by 2025. Sodium metasilicate pentahydrate market is expected to accrue momentous proceeds from the cement industry. The product is used as a connecting agent in the making of refractory cement & can enable properties such as chemical and heat resistance and hardness. It has also found application in the cosmetic, textile, ceramics, chemical production, and
Vinyl ester market Growth in Europe, Impact Covid19 and Top key players like Swa …
Vinyl ester market to be fueled by increasing deployment of wind energy facilities, Europe to emerge as a pivotal revenue pocket. In 2017, Europe marked a growth of 25% in the wind power plant capacity annual installation as compared to 2016. Whereas wind energy was the second-largest source of power generation power in the year 2016 in Europe. Nations worldwide are actively aligning their focus toward the deployment of wind
Biaxially Oriented Polypropylene (BOPP) Market Size, Share by key players like B …
Biaxially oriented polypropylene (BOPP) market size to reach USD 20 billion by 2024. Growing focus on superior packaging for the protection of delicate good, foods, medicines, and others will favor BOPP business growth in the coming years. Rapid proliferation of e-commerce platforms along with changing consumer spending trends will drive biaxially oriented polypropylene (BOPP) market outlook. In a world of constantly-changing lifestyles, consumers expect products to be shatter-proof, lightweight, aesthetically appealing,
Titanium Dioxide Market to see 7%+ CAGR over 2021-2026 | Key Players are Tronox …
Titanium Dioxide Market growth will be driven by rising expansion activities in the paints & coatings sector and proliferating application in paper & pulp industry. For years, titanium dioxide (TiO₂) has been used in the manufacturing of numerous consumer products across various industries. The product finds applications in paints, adhesives, coatings, paper, rubber, printing inks, textiles, coated fabrics, ceramics, roofing materials, floor coverings, and cosmetics. Surging in product demand across
More Releases for Genetic
Preimplantation Genetic Testing Market is Blooming Worldwide
HTF MI recently introduced Global Preimplantation Genetic Testing Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. At present, the market is developing its presence and some of the key players from the complete study are F. Hoffmann-La Roche, Abbott Laboratories, Thermo Fisher Scientific, Natera, Illumina & Perkin Elmer etc. The market Study is segmented by key regions which
Genetic Analysis ASProduct Pipeline Analysis, 2017 Update
"The Report Genetic Analysis ASProduct Pipeline Analysis, 2017 Update provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz" About Genetic Analysis ASProduct Market Genetic Analysis AS (Genetic Analysis) is a molecular diagnostic company that mapping of microbiota by utilizing the GA-map technology to develop IVD tests in various diseases. The company develops gene-based routine tests for the mapping and diagnosis of
Preimplantation Genetic Diagnosis: Scope & Revenue Outlook
Rising numbers of assisted reproductive procedures such as in vitro fertilization (IVF) is Asia is the most prominent factor driving the market for preimplantation genetic diagnosis. This is, in essence, the result of factors such as the delayed age of conception among Asian women, the rising rate of infertility among the population, and the significantly expanding medical tourism industry in the region. Rising disposable incomes and increased awareness regarding the
India Genetic Testing Market Analysis
India is witnessing an accelerating shift towards the prevalence of non-communicable diseases, having secured third position in congenital malformations and genetic disorders as the commonest causes of mortality in neonates in cities. The ability to identify these non-communicable diseases at an early stage lies within the genetic screening segment. Genetic screening, however, is still in its infancy and there are many challenges that need to be overcome in order to
Genetic Testing Services Market Analysis – 2023
Genetic testing is one of the most rapidly growing segments in molecular diagnostics industry that helps in delivering customized health services and is also called as personalized medicine. The genetic testing services include genetic testing, results interpretation, information analysis, education and counseling. Growing know-how about genetic testing, technological advances in genetic sequencing, rising incidences of genetic diseases especially cancer is the major factors propelling the genetic testing services market. Currently
Future of Global Genetic Testing Market : 2020
Molecular diagnostics market is growing at a significant rate due to increasing awareness for the same and rising investments in the field. Genetic testing refers to a process of analysis of human DNA in any of its form or related products such as RNA, chromosomes, DNA and others. Genetic testing is widely used for detection of diseases that are related to genotype, phenotype or mutation. Also, genetic testing is done