Genetic Testing Services Market To Reach USD 22,701.8 Million With A CAGR Of 11.7% By 2027

The proposed Genetic Testing Services market report will encompass all the qualitative & quantitative aspects including the market size, market estimates, growth rates & forecasts & hence will give you a holistic view of the market. The study also includes detailed analysis of market drivers, restraints, technological advancements & competitive landscape along with various micro & macro factors influencing the market dynamics.

The Genetic Testing Services in healthcare market was valued at US$ 9,546.2 million in 2019 and it is projected to reach US$ 22,701.8 million by 2027; it is expected to grow at a CAGR of 11.7% from 2020 to 2027.

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.

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Furthermore, the Genetic Testing Services market full research study is designed on account of the fact that each segment is individually assessed and then collated to form the whole market, the study can be tailor-made to fit your exact requirements.

The structure of the Genetic Testing Services market report can be categorized into following sections:

Section 1: scope of the report & research methodology

Section 2: key takeaways                                                                    

Section 3: market variables & their impact on growth and analytical tools providing high level insights into the market dynamics and growth pattern

Section 4: market estimates and forecasts (with the base year as 2019, historic information of 2016 & 2018 and forecast from 2021 to 2027). Regional and country level estimates and forecasts for each category which are summed up to form the global market.

Section 5: competitive landscape. Attributes such as strategy framework, competitor categorization are included to provide elaborate details on the market structure & strategic undertakings as well as their impact.

Type-Based Insights

In terms of type, the Genetic Testing Services in healthcare market is segmented into predictive testing, carrier testing, prenatal testing, newborn screening. The predictive testing segment held the largest share of the market in 2019.

Disease-Based Insights

Based on disease, the Genetic Testing Services in healthcare market is segmented into cancer disease, metabolic diseases, cardiovascular diseases and others. The cancer disease segment held the largest share of the market in 2019.

Service Provider-Based Insights

In terms of service provider, the Genetic Testing Services in healthcare market is segmented into diagnostic laboratories, hospital based laboratories and clinics. The diagnostic laboratories segment held the largest share of the market in 2019.

The prominent/emerging players in the Genetic Testing Services market research include:

Laboratory Corporation of America Holdings
Hoffmann-La Roche Ltd
Illumina, Inc.
Quest Diagnostics Incorporated
Exact Sciences Corp (Genomic Health)
NeoGenomics Laboratories, Inc.
Eurofins Scientific
Ambry Genetics
Centogene AG
23andMe, Inc

The Genetic Testing Services market company profiles are individually represented for all major participants and indices such as financial performance, strategic initiatives, product portfolio & company overview.

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Company overview:

Company overview provides the information about location of the company where it is headquartered along with the established year, employee strength as of 2017, regions where the company is operating and the key business areas.

Financial performance:

Overall company/segment revenue for the year 2019, 2018, and 2017 is provided in the sub title "financial performance" (public listed companies) along with the analysis and explanation of the increase or decrease in the same due to factors such as mergers & acquisition, profit or loss in any strategic business unit (sbus) and others.

Product benchmarking:

Product benchmarking comprises the comprehensive list of products pertaining to the respective market along with the application and key features.

Strategic initiatives:

Insights pertaining to the new product launch, strategic collaboration, mergers and acquisition, regulatory approval, and other developments by the company in market are covered under strategic initiatives section.

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The Genetic Testing Services market research study is designed keeping in focus all the major countries. Although, all these countries & their market trends were accounted for while composing it, detailed sections are available for only the spearheads. In case if you would be interested in specific countries which are not covered in the current scope, kindly share the list & we can customize the study based on the geographical scope defined by you.

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The insight partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as semiconductor and electronics, aerospace and defense, automotive and transportation, Genetic Testing Services, healthcare it, manufacturing and construction, medical device, technology, media and telecommunications, chemicals and materials.

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