2019 Trends on Genetic Testing Market| Key Players: Roche Diagnostics Middle East, Luminex Corporation, QIAGEN, 23andMe, Cepheid, Abbott Molecular Inc.

Increasing applications of genetic testing for early detection and prevention of oncology and genetic diseases will accelerate the market growth throughout the forecast period. Around 6,00,920 cancer deaths occurred in the U.S. in 2017. Growing awareness among patients pertaining to early diagnosis of diseases will lead to timely treatment resulting in reduced mortality. Rising prevalence of diseases such as cancer, cystic fibrosis, Alzheimer’s and other genetic diseases worldwide will result in increasing number of people undergoing genetic testing for early diagnosis thereby fueling the market growth.

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Demand for direct-to-consumer (DTC) genetic testing is growing in the last few years. DTC genetic testing allows customers to know their genetic information without involving the physicians or other healthcare professionals. DTC testing allows customers to identify genetic predisposition to diseases such as cancer, Alzheimer’s and diabetes in order to facilitate a precautionary preparation for healthcare. Aforementioned factors will further boost the market growth over the forecast period.

• Speaking of the robust product demand, it is imperative to mention that genetic testing industry players such as the Genos, 23andMe, and AncestryDNA have been proven particularly popular, with tens of thousands of people purchasing them at-home testing kits every year. Innovations brought forth by these leading startups have lent a great deal of efficiency to the general public. A recent instance that has grabbed the headlines in this regard is that of 23andMe, that has received its first FDA approval of its test for some BRAC1/BRAC2 mutations. These genes that the test covers have been linked to an increased risk of ovarian, breast, and prostate cancer.

• The company came into the public eye in late 2015, when it introduced a DTC (direct-to-consumer) test providing parents with the necessary information about the genes their future children might carry. The FDA has granted an exemption allowing it to provide genetic tests for 10 diseases including Alzheimer’s and Parkinson’s. Whether perceived with suspicion or hope by patients and governments, the new frontiers opened by these technological innovations are undeniably leading to unprecedented opportunities in the global genetic testing industry.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Natera
• Myriad Genetics
• Counsyl
• MolecularMD
• Genomic Health
• QIAGEN
• 23andMe
• Cepheid
• Abbott Molecular Inc.
• Roche Diagnostics Middle East
• Luminex Corporation
• Celera Genomictree Inc.
• HTG Molecular Diagnostics
• IntegraGen
• LabCorp Diagnostic Laboratories
• Pathway Genomics Corporation
• Sequenom
• Genentech
• Bayer Diagnostics
• Biocartis
• bioMérieux

Diagnostic testing segment accounted for the highest market share with a revenue share of USD 5690.6 million and is expected to grow at a significant rate over the forecast timeframe owing to its wide applications in various diseases. Detection of diseases at early stage allow patients to undergo therapeutic treatment at an early stage and minimizes the severity of diseases leading to reduced mortality rate. Increasing prevalence of chronic diseases worldwide will augment the segment growth over the forecast period.

Cardiovascular disease diagnosis segment of genetic testing market will grow at the fastest CAGR of nearly12.8% owing to rising prevalence of cardiac diseases across the globe. Genetic testing allows testing for a wide range of cardiovascular diseases (CVDs) encompassing congenital heart malformations. Timely diagnosis of heart disorders helps save lives and reduce the number of CVD deaths. Healthcare system’s efforts towards reducing CVD incidences should fuel business growth over the forecast period.

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North America dominated the genetic testing market with a revenue of USD 6382.1 million in 2017 and is projected to grow at a significant rate over the forecast period. This is attributable to increasing incidences genetic diseases such as cancer, Turner syndrome, neurofibromatosis, and spinal muscular atrophy. Availability of new tests owing to technological advancements will fuel the demand for genetic testing. Advanced infrastructure coupled with high healthcare expenditure and regulatory support for direct-to-consumer genetic testing will further augment the market growth in the coming years.

Genetic Testing Market by Test type
o Predictive Testing
o Carrier Testing
o Prenatal and Newborn Testing
o Diagnostic Testing
o Pharmacogenomic Testing

Genetic Testing Market by Application
o Cancer Diagnosis
o Genetic Disease Diagnosis
o Cardiovascular Disease Diagnosis

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