U.S. Genetic Testing Market 2022: Global Analysis, Opportunities and Forecast To 2027

The U.S. genetic testing market size is expected to gain momentum by reaching USD 10.29 billion by 2027 while exhibiting an impressive CAGR of 13.0% between 2020 and 2027. This information is published by Fortune Business Insights in its latest report, titled, "U.S. Genetic Testing Industry, 2020-2027." The report further mentions that the market stood at USD 4.11 billion in 2019. Factors such as increasing prevalence of chronic disorders and the increasing awareness regarding the efficacy of genetic testing in the U.S. will contribute to the growth of the market during the forecast period.

Partnership between Major Companies to Amplify Their Market Positions

The market is fragmented by the presence of major companies such as Myriad Genetics and Quest Diagnostics trying to maintain a stronghold by partnering other companies to expand their product portfolio. Moreover, the other companies such as Ambry Genetics, Invitae Corporation, and BioReference Laboratories are adopting strategies such as merger and acquisition to maintain their presence and gain a competitive edge over their rivals in the forthcoming years.

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Increasing Prevalence of Chronic Disorders to Augment Growth

According to the Centers for Disease Control and Prevention (CDC), chronic ailments such as cancer, heart disorders, and diabetes are the leading cause of disability and deaths of people across the U.S. Moreover, the U.S. healthcare system suffers an estimated USD 320 billion annually, in direct and indirect costs. Therefore, to reduce the healthcare costs, several healthcare companies contemplate offering advanced screening solutions to detect the disease at the preliminary stage and further prevent disease fatality. Moreover, increasing awareness regarding the efficacy of the genetic testing methods amongst the healthcare professionals is expected to favor the U.S. genetic testing market growth in the forthcoming years.

Global U.S. Genetic Testing Market Highlights:

The U.S. Genetic Testing Market report offers an in-depth analysis of the U.S. Genetic Testing industry and the demand drivers by highlighting information on several aspects of the market. Prudent Markets addresses all these aspects and provides the latest scoop and detailed eye-opening study on all major & emerging business segments. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. The development scope, feasibility study, U.S. Genetic Testing market concentration, and maturity analysis is elaborated in this report.

Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.

This report focuses on U.S. Genetic Testing Global Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2026, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.

What does the Report Provide?

The market report provides a qualitative and quantitative analysis of the market and focuses on key aspects such as the regulatory overview, key industry developments such as mergers, acquisitions, and partnerships, and funding raised by start-up companies that will impact the market. Additionally, the report offers valuable insights into the latest market trends and highlights key industry dynamics by adopting several research methodologies during the forecast period.

Market to Exhibit 6.7% Growth in 2020 amid COVID-19

The market for genetic testing in the U.S. is expected to register a lower growth by exhibiting a CAGR of 6.7% in 2020. Factors such as cancellation and postponement of non-essential diagnostics such as that of hereditary disease and cancer screening and more impetus on COVID-19 screening is expected to lead to sluggish growth of the market. However, favorable government policies and proactive steps to widen the reach of screening amongst patients by the companies is expected to contribute to the growth of the U.S. Genetic Testing Industry in the forthcoming years.

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List of the Companies Profiled in the Market:

Invitae Corporation (San Francisco, U.S.)
Ambry Genetics (Aliso Viejo, U.S.)
BioReference Laboratories, Inc. (Elmwood Park, U.S.)
Progenity, Inc. (San Diego, U.S.)
Quest Diagnostics Incorporated (Secaucus, U.S.)
Myriad Genetics, Inc. (Salt Lake City, U.S.)
Fulgent Genetics (Temple City, U.S.)
Burning Rock Biotech Limited (Guangzhou, China)
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Some major points from Table of Content:

Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Regulatory Overview
Overview: Funding Raised by Genetic Testing focused Start-up Companies
Key Industry Developments - Mergers, Acquisitions, and Partnership
Porter's Five Forces Analysis
SWOT Analysis
Impact of COVID-19 Pandemic on the U.S. Genetic Testing Market
Analysis of Transactions in the Molecular Diagnostic Clinical Laboratory Market
Overview: Personalized Medicine Market Size (USD billion), U.S., 2019
Reimbursement Scenario
U.S. Genetic Testing Industry Analysis, Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast - By Technique
PCR
DNA Sequencing
Microarrays
Others
Market Analysis, Insights and Forecast - By Application
Cardiology
Oncology
Pharmacogenomics
Cognitive Dysfunction
Pathogenomics
Others
Market Analysis, Insights and Forecast - By Payer
Public Health Insurance
Private Health Insurance
Out-of-Pocket
Market Analysis, Insights and Forecast - By End User
Hospitals
Independent Laboratories
Competitive Analysis
S. Market Share Analysis (2019)
Company Profiles (Overview, Products & Services, SWOT Analysis, Recent Developments, Strategies, Financials (Based On Availability))
Invitae Corporation
Ambry Genetics
BioReference Laboratories, Inc.
Progenity, Inc.
PathemaGX
Quest Diagnostics Incorporated
Myriad Genetics, Inc.
Fulgent Genetics
Burning Rock Biotech Limited
Continued...

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