Press release
Genetic Testing Services Market to Grow at a CAGR of 11.7% from 2020 to 2027
The latest Genetic Testing Services Market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. The study offers a thoroughanalysis of the key persuading factors, market figures in terms of revenues, segmental data, regional data, and country-wise data. This study can be described as most wide-ranging documentation that comprises all the aspects of the evolving Genetic Testing Services Market.Genetic testing is a type of medical test that identifies changes in chromosomes, genes, or proteins. The results of a genetic test can confirm or rule out a suspected genetic condition or help determine a person's chance of developing or passing on a genetic disorder. More than 1,000 genetic tests are currently in use, and more are being developed. Genetic testing may be beneficial whether the test identifies a mutation or not. For some people, test results serve as a relief, eliminating some of the uncertainty surrounding their health. These results may also help doctors make recommendations for treatment or monitoring, and give people more information for making decisions about their and their family's health, allowing them to take steps to lower his/her chance of developing a disease. The growth of the Genetic Testing Services in healthcare market is attributed to the rising prevalence of the genetic diseases, rise in awareness & acceptance of personalized medicines are expected to boost the market growth over the years. However, cost effectiveness and affordability of genetic services is likely to have a negative impact on the growth of the market in the coming years.
The research report provides deep insights into the global market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overviewof the growth rate of Genetic Testing Services Market during the forecast period, i.e., 2022-2028. Most importantly, the report further identifies the qualitative impact of various market factors on market segments and geographies. The research segments the market on the basis of product type, application,technology,and region. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.
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Leading Genetic Testing Services Market market Players:
Laboratory Corporation of America Holdings
Hoffmann-La Roche Ltd.
Illumina, Inc.
Quest Diagnostics Incorporated
Exact Sciences Corporation
NeoGenomics Laboratories, Inc.
Eurofins Scientific
Ambry Genetics
Centogene AG
23andMe, Inc.
The global genetic testing service market, based on the type, was segmented as predictive testing, carrier testing, prenatal testing, newborn screening and others. In 2019, the predictive testing segment accounted for the largest market share in the global Genetic Testing Service market by type. Predictive genetic testing searches for genetic changes, or mutations, which are linked to disease. These tests are done before you show any signs of a disease. Predictive testing may be useful to people who have a family history of a treatable genetic disorder, show no signs of illness owing to these benefits the segment is anticipated to grow at a significant rate during the forecast period.
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Genetic Testing Services Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Genetic Testing Services Market segments and regions.
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Genetic Testing Services Market Segmented by Region/Country: North America, Europe, AsiaPacific, Middle East & Africa, and Central & South America
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