Rare Disease Genetic Testing Market Growing to Exhibit a Striking Growth with CAGR of 12.26% by 2029, Competitive Scenario and Industry Growth Analysis

An all inclusive Rare Disease Genetic Testing Market report evaluates the rising trends along with major drivers, challenges and opportunities in the market. This market research report brings into focus strategic analysis of mergers, expansions, acquisitions, partnerships, and investment. This market research report comprises of fundamental, secondary and advanced information related to the global status and trend, market size, sales volume, market share, growth, future trends analysis, segment and forecasts from 2022 - 2029. Rare Disease Genetic Testing Market research report acts as a useful source for both customary and emerging market player in the industry and provides in detail market insights.

Genetic testing is a type of medical test that detects changes in genes, chromosomes or proteins. A genetic test's results can confirm after suspected genetic condition or they can help determine a person's risk of developing or passing on a genetic disorder. Most tests are used to diagnose rare genetic disorders, such as Duchenne Muscular Dystrophy and Fragile X Syndrome. Genetic tests are performed on a blood sample, amniotic fluid (the fluid that surrounds a foetus during pregnancy), or other tissue. In case of newborns, genetic screening tests are done on a small blood sample obtained by pricking the baby's heel.

Data Bridge Market Research analyses that the rare disease genetic testing market which was USD 785.8 million in 2021, is expected to reach USD 1982.04 million by 2029, at a CAGR of 12.26% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Genetic testing is a diagnostic tool that not only aids in the identification of specific disease manifestations but also in determining the underlying causes of genetic disorders. Genetic testing has a variety of advantages such as confirming a diagnosis, determining the cause of unexplained symptoms, and identifying treatment options, including clinical trials. Genetic testing refers to a wide range of applications, ranging from family history collection and evaluation to whole genome screening. Each test has its own set of advantages and disadvantages based on the technology used and the indication for the test. A rare disease refers to a condition, disorder or disease that affects a small percentage of the population at any given time. For instance, in the European Union, it affects fewer than 1 in 2,000 individuals, in the United States, a rare disease is defined as a disease that affects less than 200,000 individuals.

Some of the major players operating in the rare disease genetic testing market are:

Quest Diagnostics Incorporated (U.S.)
Centogene N.V. (Germany)
Strand Life Sciences (Bengaluru)
Ambry Genetics (U.S.)
PerkinElmer, Inc. (U.S.)
Macrogen, Inc. (South Korea)
Baylor Genetics (U.S.)
HNL Lab Medicine (U.S.)
Preventiongenetics (U.S.)
3billion, Inc. (South Korea)
Arup Laboratories (U.S.)
HNL Lab Medicine (U.S.)
 Preventiongenetics (U.S.)
Invitae Corporation (U.S.)
 Eurofins Scientific (Luxembourg)
 Strand Life Sciences (India)
 Realm IDX, Inc. (China)
 Myriad Genetics, Inc. (U.S.)
 Laboratory Corporation of America Holdings (U.S.)
 Opko Health, Inc. (U.S.)

Global Rare Disease Genetic Testing Market Dynamics

Drivers

Genetic testing use in research laboratories

Genetic testing is used in the research laboratories for laboratory test to look for variations in an individual's DNA, typically in the context of medical care, ancestry studies, or forensics. A genetic test's results can be used in a medical setting to confirm a suspected genetic disease. Genetic testing is the use of a laboratory test to examine an individual's DNA for variations, typically performed in the context of ancestry studies, forensics, medical care. These all are the certain factors which propel the growth of market.

Rise in diagnostic testing

Diagnostic testing is used to identify a specific genetic or chromosomal condition. In many cases, genetic testing is used to confirm a diagnosis when a particular condition is suspected based on physical signs and symptoms. Even though uncovering the genetic cause behind a condition may not directly impact treatment options, it will provide physicians and the families with useful information. For instance, physicians can combine genetic testing with existing clinical and biochemical analyses to accurately confirm a disease diagnosis. These are the factors which boost the market's growth.

Recent developments

In December 2020, Cell ID Pte. Ltd., a Singapore-based company that manufactures genetic testing products, will launch the Quiz PCR Biochip, a portable genetic test for COVID-19. This is a portable palm-sized moveable genetic test kit that uses an app to determine whether or not a person has COVID-19. This device also included a QR code for tracking purposes. The device employs pooled screening technology. This is easily portable and can conduct tests at any time
In January 2022, Exact Sciences, a US-based manufacturer of genetic testing tools and a molecular diagnostics company acquired Prevention Genetics for $190 million. Exact Sciences hopes to increase hereditary cancer testing for more patients as a result of this acquisition

Global Rare Disease Genetic Testing Market Scope

The rare disease genetic testing market is segmented on the basis of disease type, technology, speciality, end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Disease Type

Neurological Disorders
Immunological Disorders
Hematology Diseases
Endocrine
Metabolism Diseases
Cancer
Musculoskeletal Disorders
Cardiovascular Disorders (CVDs)
Dermatology Disease
Others

Technology

Next-Generation Sequencing (NGS)
Whole Exome Sequencing
Whole Genome Sequencing
Array Technology
PCR-based Testing
FISH
Sanger Sequencing
Karyotyping

Specialty

Molecular Genetic Tests
Chromosomal Genetic Tests
Biochemical Genetic Tests

 End Use

Research Laboratories
CROs
Diagnostic Centers
Hospitals
Clinics

Fundamental Aim of Rare Disease Genetic Testing Market Report

In the Rare Disease Genetic Testing Market, every company has goals, but this report focuses in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.

Factors influencing the Rare Disease Genetic Testing Market Size and growth rate.
Major alterations to the Rare Disease Genetic Testing Market in the near future.
Notable Market rivals around the world.
The Rare Disease Genetic Testing Market's Future Scope and Product Outlook
Future-promising emerging markets.
The Market Presents Difficult Challenges and Threats.
Sales data and profiles of the world's leading Rare Disease Genetic Testing Market players

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