Genetic Testing Market Study by Experts and Research Analysis 2021- Thermo Fisher Scientific, Inc., Genentech, Inc., Elitech Group, Abbott Laboratories

The Genetic Testing market is a comprehensive market research report which provides market analysis with a historical & futuristic perspective for the following parameters; market size, revenue, demand, and supply data (as applicable). The report offers a detailed market analysis to provide a 360-degree research study on the global Genetic Testing market. Some of the tools used for this are SWOT, PESTEL, and Porter's 5-forces analysis frameworks. The report includes detailed information on the key trends, market drivers, challenges, regulatory landscape, deployment models, opportunities, value chains, player profiles, and strategies. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Genetic Testing from 2021 till 2026.

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Genetic tests are defined as medical devices available in the form of kits and panels that are used for testing genetic diseases in humans. Furthermore, the testing is performed by collecting samples of blood from patients. Genetic testing is tedious and requires the experience of genetic counsellors and medical geneticists to assist in selecting the most suitable test for a patient. Similarly, advances and improvements in genetic testing technology are having a major impact on the market growth as these tests accurately diagnose different diseases

The genetic Testing Market is expected to witness a revenue of USD 14,227 million in 2026, with a CAGR of 10.47% over the forecast period.

Top leading Manufacturers Profiled in Genetic Testing Market Report are:

Transgenomic, Inc., Luminex Corporation, MedGenome, Inc., Thermo Fisher Scientific, Inc., Genentech, Inc., Elitech Group, Illumina, Inc., Sequenom, Roche Molecular Systems, Inc., 23Andme, Inc., Biomerieux SA, EKF Diagnostics, Bio-Rad Laboratories, Inc., Cepheid, Inc., Abbott Laboratories, Inc., Qiagen N.V., AutoGenomics, Inc., Myriad Genetics, Inc., Biocartis SA, Quest Diagnostics, Inc., Genomictree Inc., Takara Bio, Inc., PerkinElmer, Inc., Interpace Diagnostics, LLC, IntegraGen S.A.

North America dominates the market for genetic testing currently, owing to factors, like increasing demand for personalized genetic testing services in the region and the rise in the prevalence of chronic and genetic disorders. North America's genetic testing market size was over USD 8.5 billion in 2020 on account of the rising number of cancer cases and other chronic ailments as well as the rapidly growing elderly population base.

Asia-Pacific region would exhibit the highest CAGR of 12.5% during 2020-2027. The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period due to the increase in healthcare expenditure, large population rate, growing prevalence of cardiac diseases, rising awareness about early diagnosis, developing healthcare infrastructure, and availability of effective treatment in emerging countries, such as China and India

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Market News and Updates-

-In April 2019, Ambry Genetics collaborated with Intalere Teams. This collaboration enabled the company to offer better access to healthcare providers in genetic testing to manage patients with high cancer risks.

-In March 2018, 23andMe announced the launch of a new genetic test that assesses the predisposition for type 2 diabetes. This launch has helped the company in increasing its customer base and market share.

-In November 2020, the Food and Drug Administration (FDA) expanded the approval of a cancer blood test, "liquid biopsy", that detects genetic changes in tumor DNA in the blood and can help match patients to potential treatments.

-In August 2020, the FDA approved Guardant360 CDx of Guardant Health and FoundationOne Liquid CDx of Foundation Medicine, for use as a companion diagnostic test and for general tumor profiling.

Global Genetic Testing Market Split by Product Type and Applications:

Market Research Study Focus on these Types:

Prenatal and New-Born Genetic Testing
Predictive Testing
Pre-Implantation Testing
Diagnostic Testing
Carrier Testing
Forensic Testing

Market Research Study Focus on these Applications:

Cancer
Alzheimer
Cystic Fibrosis
Fanconi Anaemia
Duchemes Muscular Dystrophy
Sickle Cell Anaemia
Others

Regional Analysis for Genetic Testing Market:

For a comprehensive understanding of market dynamics, the global Genetic Testing market is analyzed across key geographies namely the United States, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed based on market findings across major countries in these regions for a macro-level understanding of the market.

Frequently Asked Questions about the Genetic Testing market:

– What are the recent developments and government policies?
– What are the top trends in the Genetic Testing market?
– What is the growth rate of the market?
– Which Is the Most potential market segment?
– Which are the top market players in the Genetic Testing market?
– Which region would offer high growth for vendors in the market?

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