At 11.7% CAGR, The Global Genetic Testing Services Market Growth Set to Surge Significantly US$ 22,701.8 Mn during 2021 - 2027- The Insight Partners

According to The Insight Partners market research titled 'Genetic Testing Service Market to 2027 - Global Analysis and Forecasts by Type, Disease, Service Provider and Size.' The global genetic testing service market is expected to reach US$ 22,701.8 Mn in 2027 from US$ 9,546.2 Mn in 2019. The market is projected to grow with a CAGR of 11.7% from 2020-2027. The report provides trends prevailing in the global genetic testing service market along with market drivers and restraints.

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.

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List of Companies operating in this report are:
America Holdings, F. Hoffmann-La Roche Ltd., Illumina, Inc., Quest Diagnostics Incorporated, Exact Sciences Corporation, NeoGenomics Laboratories, Inc., Eurofins Scientific, Ambry Genetics, Centogene AG, and 23andMe, Inc.

The report segments global Genetic Testing Service market as follows:

Global Genetic Testing Service Market - By Type
• Predictive Testing
• Carrier Testing
• Prenatal Testing
• Newborn Screening
• Others

Global Genetic Testing Service Market - By Disease
• Cancer Disease
• Metabolic Disease
• Cardiovascular Disease
• Others

Global Genetic Testing Service Market - By Service Provider
• Diagnostic Laboratories
• Hospital-Based Laboratories
• Others

Furthermore, the market is segmented based on type, application, and region in order to study it exhaustively and provide the data in a systematic manner. Speaking of competitive landscape, the study includes a list of leading companies along with their product and service offerings, strategic decisions, SWOT analysis, latest developments, market share captured, growth rate, and valuation. The challenges faced by these companies are analyzed and solutions for them are given as well.

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The prevalence of the genetic diseases are rising across the world and impacting the health among the people at a severe level. In the eastern region due to the improper diagnostic, management and rehabilitation facilities the prevalence is much higher than the countries in the western region. The genetic diseases shows many symptoms that are uncommon and are mostly non-curable. Most of the genetic diseases are rare and are developed due to the mutation in the genetic make-up of the people. As per the Global Genes which is a non-profit corporation addressing the rare diseases across world states that near about 70,000 types of rare disease and disorders are being identified every day. For instance, approximately 30 million people in the United States lives with the genetic and rare diseases.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Genetic Testing Services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

Several market forces such as drivers and restraints and political, social, economic and technological advancements help shape up the industry in specific manner. All such forces are studied in detail to arrive at a market forecast which can help build the investment strategies in Brain Cancer

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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