Genetic Disease Diagnostic Market - Analysis And Forecast (2016-2024): Market Shares And Strategies Of Key Players

Genetic mutations are change in the deoxyribonucleic acid (DNA) sequence of an individual. Genes are responsible for formation of proteins that perform majority of functions of the body. Thus abnormality in genes results in faulty or no protein formation leading to abnormal functioning of the body. One or multiple abnormalities in genome resulting from mutations or changes in DNA sequence causing illness are referred as genetic disease. Genetic disease may or may not be hereditary. Mutations taking place in the germ cell - responsible for transfer of genetic information from parents to offspring results in inherited genetic disease. In addition, changes in DNA of the cells other than germ cells and changes in somatic cells may cause inherited genetic disease.

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Majority of genetic diseases are associated with chronic diseases such as diabetes, cancer and asthma. Thus rise in the chronic disease prevalence globally, is primarily driving the global genetic disease testing market towards growth. In addition, genetic disease testing is used in personalized medicines. Thus, rise in the awareness about personalized medicine is fueling the demand for genetic disease testing market. On the contrary, factors such as lack of reimbursement coverage and costly tests are of the major factors that are restraining the growth of the global genetic disease testing market. Based on applications, the global genetic disease testing market has been segmented as follows:

• Inherited Disorder Testing
o Gaucher’s disease
o Bbloom syndrome
o Tay-Sachs disease
o Fragile x-syndrome
o Others
• Human Leukocyte Antigen (HLA)Testing
• Oncology Testing
• Phramacogenetic Testing (PGx)
• Others

Geographically, the global genetic disease testing market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). North America comprises genetic disease testing market for the U.S and Canada. Europe comprises cumulative market of genetic disease testing in Germany, Italy, France, Spain, and Rest of Europe (RoE). Asia Pacific comprises cumulative market of genetic disease testing in China, India, Australia, New Zealand and rest of Asia Pacific (RoAPAC). Rest of the World (RoW) comprises genetic disease testing market in Latin America, Middle East and Russia. Presently, North America and Europe are leading the global genetic disease testing market.

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High healthcare spending, availability of skilled professionals to perform the tests and highly developed healthcare infrastructure are some of the factors that are fueling the growth of the genetic disease testing market in North America and Europe. Asia Pacific genetic disease testing market is anticipated to show significant growth rate in the forecast period from 2014 to 2020. Rapidly improving healthcare infrastructure on the grounds of medical tourism industry, rising healthcare expenditure coupled with rising government initiative to boost biotechnology industry in respective country are some of the prime factors that are anticipated to fuel the growth of the genetic disease testing market in Asia Pacific. China, India and Japan are the countries in Asia Pacific that are expected to propel the growth of the genetic disease testing market owing to speedy growth of these economies compared to other countries in the region. Furthermore, Brazil, Argentina and Mexico are the Latin American countries that are anticipated to have growth potential owing to availability of well defined framework and relatively higher rate of awareness compared to African and Middle Eastern countries in the rest of the world (RoW) region.

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