Europe Genetic Testing Market 2022 Global Outlook - llumina Inc., Abbott Laboratories, 23andMe Inc., F. Hoffmann-La Roche Ltd, Qiagen

Market Insights Reports has added new statistical data to its repository titled as, Global Europe Genetic Testing Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The Europe Genetic Testing market report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.

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Top Key Players in the Global Europe Genetic Testing Market is Illumina Inc., Abbott Laboratories, 23andMe Inc., F. Hoffmann-La Roche Ltd, Qiagen, Blueprint Genetics Oy, Eurofins Scientific, Centogene AG, Thermo Fisher Scientific, Elitech Group, and others. 

Market Overview:

- Technologies, such as next-generation sequencing, allow to carry out many genetic tests rapidly and create databases with information about rare genetic diseases. The European countries have undertaken a number of initiatives to increase awareness among people about the benefits of genetic testing.
- There are a number of favorable and collaborative policies that are being implemented by the governments to incorporate genetic testing into the healthcare system and to make insurance reimbursements available to citizens. Cancer genetic testing, Alzheimer's disease testing, and cystic fibrosis testing are the most popular screening tests being carried out in Europe. Others include hereditary breast cancer and ovarian cancer syndromes, Li-Fraumeni syndrome, Cowden syndrome, Lynch syndrome, Familial adenomatous polyposis, and retinoblastoma, among others.
- The practice of genetic testing for hereditary cancer syndromes has changed dramatically in the recent years. In developed countries, like Germany, France, etc., the demand for genetic testing to detect cancer risks is driving the growth of the market. The high GDP expenditure on healthcare, per capita expenditure, increase in awareness among the people, and high income of the citizens are the factors that drive the market in European countries.

Key Market Trends

The Diagnostic Testing Segment is Expected to Grow the Fastest over the Forecast Period

Diagnostics testing is expected to register a healthy CAGR, as it is used to diagnose or rule out a specific genetic condition. This is attributable to the growth in awareness among people regarding health and the increase in incidences of mortality rate due to the genetic diseases in the region. In most cases, genetic testing is used to confirm a diagnosis when a particular condition is suspected based on physical mutations and symptoms. Therefore, the increasing conditions like, cancer, Alzheimer's disease, and cystic fibrosis, boost the segment's growth. Furthermore, companies, such as Centogene and NIMGenetics, offer a wide range of genetic diagnostic services in Europe, which is further accelerating the growth of the market.

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This Global Europe Genetic Testing Market report addresses:

- The Market size from 2016-2021

- Expected market growth until 2025

- Forecast of how market drivers, restraints, and future opportunities will affect

- Segment and regions that will drive or lead the market growth and why

- Comprehensive mapping of the competitive landscape

- In-depth analysis of key sustainability strategies adopted by market place.                              

Frequently Asked Questions about Global Europe Genetic Testing market:

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