Latin America Genetic Testing Market -Industry News, Applications and Trends!

Genetic testing is an attractive and growing segment in molecular diagnostics market as it helps in providing superior medical care. Any modifications in chromosomes, genes, or proteins that are associated with the inherited disease conditions can be identified through genetic testing. The Latin America Genetic testing market is currently validated to be at $ 3.001 million in 2015 and is forecasted to reach $ 4.232 Million by 2020 growing at a CAGR of 7.12%.

The risk of diseases like identify carriers of disease, diagnose diseases, or determine the likely course of a disease can be predicted through the genetic testing which is basically an analysis of genes, chromosomes or proteins. Diseases such as sickle cell anaemia, haemophilia and cystic fibrosis are easily diagnosed with the help of genetic testing, making life easier for the patients.

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With it potential to be able to diagnosis and treat diseases and growing awareness among the individuals about its benefits has led to the growth of the genetic testing market. Advancements in the genetic testing space, aging population and a subsequent rise in the number of chronic diseases, and rising incidences of cancer are the other driving forces for the genetic testing market.

However they are few factors that hinders the growth of genetic testing market, high cost associated with the genetic testing being one. And also, many individuals are concerned about the authenticity of genetic reports owing to the lack of credible standard procedure.

The Latin America genetic testing market is segmented based on application into Cancer Testing, Pharmacogenomics testing, prenatal testing and Predisposition testing. Based on type of tests, the market is segmented into Carrier Testing, Diagnostic Testing, Prenatal Testing and Neonatal Testing. Cancer genetic testing is expected to grow at a higher rate, and is likely to dominate the genetic testing market in the near future. The new-borns screening market, diagnosing rare and fatal disorders diagnosis, and estimating the probability for a diseases to occur is likely to expand. Particularly, genetic tests for the screening of the new-borns are likely to expand immensely in the future.

Furthermore, on the basis of geography, the Latin America Market is analysed under various regions namely, Argentina, Brazil, and Mexico.

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Increase in the incidence of genetic diseases unravels new opportunities for genetic testing and its related applications. The transformation of genetic testing from being a service-driven market to a product-driven market is anticipated to provide a push to the diagnostic companies for the expansion of their operations.

Some of the major companies in the Latin America genetic testing market include, Abbott Laboratories, Roche Molecular Diagnostics Inc., Abbott Molecular Inc., AutoGenomics Inc., Celera Group, ELITech Group, BioRad Laboratories, PerkinElmer Inc., Roche Diagnostics Corp., Quest Diagnostics Inc., Transgenomic Inc. and Applied Biosystems Inc.,

Market Segmentation

1) By Type
• Carrier Testing
• Diagnostic Testing
• Prenatal Testing
• Neonatal Testing

2) By Application
• Cancer Testing
• Prenatal Testing
• Pharmacogenomics Testing
• Predisposition Testing

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Reasons to buy Latin America for Genetic Testing Market Research Report:

• Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
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