Genetic Testing Market is set to Witness Huge Demand at a CAGR of 15.3% during the Forecast Period 2029

Global genetic testing market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 15.3% in the forecast period of 2022 to 2029 and is expected to reach USD 44,892.91 million by 2029 from USD 14,587.03 million in 2021.

Industry Analysis

Global genetic testing market is driven by the factors such as high prevalence of genetic disorders, growing technological advancements in the genetic testing market which enhance its demand, as well as increasing investment in research and development, which leads to market growth. Currently, healthcare expenditure has increased across developed and emerging countries which are expected to create a competitive advantage for manufacturers to develop new and innovative genetic testing markets. However, the high cost associated with the genetic testing and stringent regulatory frameworks for genetic testing.

Global genetic testing market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an analyst brief, our team will help you create a revenue impact solution to achieve your desired goal. The scalability and business expansion of the retail units in the developing countries of various region and partnership with suppliers for safe distribution of machine and drugs products are the major drivers which propelled the demand of the market in the forecast period.

Genetic testing is a kind of medical test that identifies changes in genes, chromosomes, or proteins. The outcome of a genetic test can confirm or rule out a suspected genetic condition or aid in determining a person's chance of developing or passing on a genetic disorder. Over 77,000 genetic tests are currently in use, and others are being developed.

The increasing innovations and technologies and rising number of players in the market, and novel product launches are also propelling the growth of the global genetic testing market.

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Global Genetic Testing Market Scope

Global genetic testing market is segmented into type, technology, diseases and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Type
• Diagnostic Testing
• Prenatal Testing
• New Born Screening
• Predictive and Presymptomatic Testing
• Carrier Testing
• Other Types

Technology
• Polymerase Chain Reaction
• DNA Sequencing (NGS-Based Testing)
• Whole Genome Sequencing
• Microarrays
• Fluorescence In Situ Hybridization (FISH)
• Others

Diseases
• Cancer
• Sickle Cell Anemia
• Thalassemia
• Rare Genetic Disorder
• Fragile X Syndrome
• Duchenne Muscular Dystrophy
• Huntington's Disease
• Cystic Fibrosis
• Others

End User
• Hospitals
• Clinics
• Diagnostic Centres
• Private Clinics
• Laboratory Service Providers
• Private Laboratories

Competitive Landscape and Genetic Testing Market Share Analysis

The genetic testing market competitive landscape provides details about the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the genetic testing market.

Some of the major players operating in the genetic testing market are

• Thermo Fisher Scientific Inc.,
• Invitae Corporation,
• Bio-Rad Laboratories, Inc.,
• PerkinElmer Inc.,
• Illumina, Inc.,
• QIAGEN,
• F. Hoffmann-La Roche Ltd.,
• Fulgent Genetics,
• Myriad Genetics, Inc.,
• Abbott,
• Eurofins Scientific,
• Sorenson Genomics,
• BIO-HELIX,
• Biocartis,
• Cepheid (A subsidiary of Danaher),
• PacBio,
• ELITechGroup,
• Genes2Me,
• Eugene Labs,
• Otogenetics,
• Mapmygenome,
• MedGenome,
• BioReference,
• Sema4 OpCo, Inc.,
• Natera, Inc.
• among others

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