Genetic Testing Market Valued at a USD 25948.46 million by 2026 | Rising Interest in Prevalence Of Cancer And Cardiovascular Diseases | Illumina, Abbott Laboratories, BGI Tech, Thermo Fisher Sceintific, Luminex Corporation, Cepheid, Qiagen N.V, Blueprint

Global Genetic Testing Market Overview
The Global Genetic Testing market is accounted for $7749.00 million in 2017 and is expected to reach $25948.46 million by 2026 growing at a CAGR of 14.37% during the forecast period. Factors such as rise in the incidence of genetic diseases and increase in the prevalence of cancer and cardiovascular diseases are fuelling the market growth. Moreover, demand in the benefits offered by genetic testing (such as specificity and early identification) is one of the major opportunities to boost the market during the forecast period. However, inaccuracies in results and reimbursement issues are restricting the growth of the market.

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Industry Insights:
A genetic test is used to determine the DNA sequence of a certain region of the human genome. This region might be a whole gene or a share of a gene, or other areas thought to regulate genes. The test will look for certain changes in the sequence that is known to have consequences on the function of a gene. Mostly genetic tests are performed on a DNA sample, because every tissue in the body is composed of cells that contain DNA.

Industry Top Players:
Some of the key players in genetic testing market include Illumina Inc, Abbott Laboratories, BGI Tech, Thermo Fisher Sceintific, Luminex Corporation, Cepheid, Qiagen N.V, Blueprint Genetic, Pacific Biosciences of California Inc, Affymetrix, Bio-Rad Laboratories, Celera Group, AutoGenomics Inc., Roche Diagnostics Limited, Molecular Inc., Genomictre Inc, HTG Molecular Diagnostics Inc, Oxford Biodynamics Ltd, Roche Holding AG and National Center for Biotechnology Information.

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Market Segmentation:
By type, predictive & pre-symptomatic testing segment acquired significant growth due to increase in awareness about diseases such as cancer and early detection of diseases. Based on end user, hospital based laboratories segment is owing to user convenience and increasing number of hospitals are a few factors projected to propel the hospital-based laboratories segment during the forecast period.

On the basis of geography, North America is considered as the fastest growing market and the factors favouring the growth of this region are developed infrastructure, increase in health care investments, and robust R&D activities in these countries.
Technologies Covered:
• Biochemical Testing
• Cytogenetic testing

Diseases Covered:
• Alzheimer Disease
• Cystic Fibrosis
• Huntington Disease
• Duchenne Muscular Dystrophy
• Sickle Cell Anemia
• Cancer Disease
• Thalassemia
• Special Diseases
• Other Diseases

Types Covered:
• Predictive & Pre-symptomatic Testing
• Carrier Testing
• Nutrigenomic Testing
• Forensic Testing
• Newborn and Prenatal Testing
• Molecular Genetic Test/ DNA Test
• Tandem Mass Spectrometry
• High-performance liquid chromatography
• Gas Chromatography/ Mass Spectrometry
• Other Types

Applications Covered:
• Cancer Genetic Testing
• Prescribed Genetic Testing
• Pharmacogenomics Genetic Testing
• Predisposition Cancer Genetic Testing
• Direct to consumer (DTC) Genetic Testing
• Neurogenetic Disorder Testing
• Muscular Dystrophies
• Other Applications

Regions Covered:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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This release was published on openPR.