China Genetic Testing Market to Grow at a CAGR of 17% during 2022-2027 | Industry Size, Revenue, Forecast Report

According to IMARC Group's latest report, titled "China Genetic Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.' the China genetic testing market size reached US$ 3.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.0 Billion by 2027, exhibiting a growth rate (CAGR) of 17% during 2022-2027.

Genetic testing provides an accurate determination of bloodline and diagnosis of vulnerabilities to diseases, which can be inherited by determining changes in chromosomes, genes, and proteins. The results can rule out or confirm and help identify the patient's chance of passing or developing a genetic disorder in laboratory settings. The testing also enables the early diagnosis of chronic diseases, which helps in timely treatment and prevention.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Market Trends:

The growing cases of genetic disorders and the increasing consumer awareness regarding the early detection of various chronic diseases is primarily driving the market growth in China. In line with this, the availability of direct-to-consumer genetic testing (DTC-GT) kits and the inflating consumer expenditure power are providing a significant boost to the market growth. Moreover, favorable initiatives undertaken by the Government of the People's Republic of China to sensitize the masses about genetic testing are supporting the market growth. In addition, the burgeoning investments in research and development (R&D) activities, rapid technological advancements to reduce the costs of deoxyribonucleic acid (DNA) sequencing services, and the extensive utilization of the method in drug-gene testing for producing personalized medicines are creating a positive outlook for the market in the country.  

Competitive Landscape:

BGI
Berry Genomics Co. ltd.
Daan Gene Co. Ltd
WuXi NextCODE
Annoroad Gene Technology Co. Ltd.
WuXi PharmaTech

Based On Test Type:

Prenatal Testing
Carrier Testing
New Born Testing
Predictive/Presymptomatic Testing
Diagnostic Testing
Others

Based On Disease:

Cancer
Down Syndrome
Thalassemia
Others

Based On Technology:

Biochemical
Molecular
Cytogenetic

Based On Service Provider:

Hospital Based Laboratories
Independent Laboratories
Specialty Clinics

Based On Testing Sample:

Blood
Saliva
Hair
Others

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://bit.ly/3kzqkSn

Key highlights of the report:                                                           

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us: 

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.