Genetic Testing Market Growth and Major key players operating in the market are Applied Biosystems, Biocartis, Qiagen, PerkinElmer, Genentech, Roche, Quest Diagnostics, Illumina, Konica Minolta, Abbott Laboratories and Myriad Genetics

Precision Business Insights published a research report on "Global Genetic Testing Market By Test Type (New-born Screening, Diagnostic Testing, Prenatal Testing, Carrier Testing, Predictive and Pre-Symptomatic Testing), By Technology (Molecular Testing, Cytogenetic Testing, Biochemical Testing), By Application (Thalassemia, Sickle Cell Anemia, Cancer, Cystic Fibrosis, Alzheimer’s Disease, Huntington’s Disease, Others), By End User (Hospitals, Clinics, Diagnostic Centers), and Geography- Global/Region/Country Forecast to 2027", The Global Genetic Testing Market was valued at USD 13.6 Billion in 2020 and is anticipated to grow at USD 29.88 Billion till 2027 recording a CAGR of 11.9% during the forecast period 2021-2027.

Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on " Global Genetic Testing Market: By Test Type (New-born Screening, Diagnostic Testing, Prenatal Testing, Carrier Testing, Predictive and Pre-Symptomatic Testing), By Technology (Molecular Testing, Cytogenetic Testing, Biochemical Testing), By Application (Thalassemia, Sickle Cell Anemia, Cancer, Cystic Fibrosis, Alzheimer’s Disease, Huntington’s Disease, Others), By End User (Hospitals, Clinics, Diagnostic Centers), and Geography - Global/Region/Country Forecast to 2027".

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New Advancements in Genetic Tests will drive the Global Genetic Testing Market

There are a number of factors, which greatly affect the growth of the genetic testing market such as increase in preference for early stage illness diagnosis, growing adoption of genetic testing in developing and developed countries, sophisticated healthcare infrastructure and growing adoption for personalized medicine. Global Genetic testing market is expected to record huge growth owing to technological developments in the genetic testing. Technological developments in the genetic testing are going to augment the returns of genetic testing market during the forecast period 2021-2027. It becomes easy to make accurate analysis of clinical biomarkers with the help of advanced genetic testing technology. Furthermore, novel advances in the genetic tests provide effective and secure method for the detection of illness which can reduce the chance of miscarriage during the early stage of pregnancy. Moreover, favorable reimbursement policies, availability of expert professionals, favorable repayment policies and increasing acceptance of genetic testing are the factors, which greatly reinforce the genetic testing market over the forecast time span.

North America Recorded Larger Market Revenue Share in Global Genetic Testing Market

North America obtained huge revenue share in the market recording considerable CAGR rate owing to growing demand for personalized medicine, increasing cases of genetic disorders like diabetes, chronic illnesses and cancer and increasing R&D to develop advanced tests by industry players. All these factors will greatly contribute fuelling the genetic testing market in this region. Europe is anticipated to grow at crucial rate due to the increasing awareness amid people about health and growing adoption of advanced genetic tests. These factors are anticipated to augment the market in the Europe.

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Impact of COVID-19 Genetic Testing Market:

In addition, the report discusses the implications of COVID-19, including the industry's initial response and strategies for ensuring business continuity in the coming years.

Competitive Analysis:

Key players of the Global Genetic Testing Market are Applied Biosystems (U.S.), Biocartis S.A. (Switzerland), Qiagen N.V. (Germany), PerkinElmer, Inc. (U.S.), Genentech, Inc. (U.S.), Hoffmann La Roche Ltd. (Switzerland), Quest Diagnostics (U.S.), Illumina, Inc. (U.S.), Konica Minolta, Inc. (Japan), Abbott Laboratories (U.S.) and Myriad Genetics (U.S.).

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