The World Genetic Testing Market is Projected to Grow USD 10,033.4 Million By 2023

The Global Genetic Testing Market has been evaluated as rapidly growing and is expected to grow further. The advent of genetic testing has revolutionized the molecular diagnostic and cytogenetic industry. Benefits such as predicting risk of diseases, genetic abnormalities along with prenatal and newborn congenital abnormalities etc. had increased the market of global genetic testing globally.
Technological advancements such as DTC (Direct to Consumer) had led the market to grow further. Basically DTC is the type of genetic test that is accessible to the consumer directly, without having go through the healthcare professional to obtain a genetic test.
Not just in human the market also had great scope for agricultural and animal related disease and advancement as well. Process like biotechnology and genetic engineering has increases its future scope in both the other areas (animals and agricultural related market).
Genetic testing market is expected to witness the highest growth in 2017-2023, and the growth is likely to be driven by huge population opting for screening of disease like cystic fibrosis and cancer, of which cancer contributes the major market for genetic testing worldwide. Approximately 80% of people aged 50 or above are diagnosed with cancer and this number is expected to further increase by 2023.
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US holds the largest portion of genetic testing market with maximum process done every year in the country. Presence of major players, increasing awareness and higher disposable income are some of the factors leading to the continuous increase in the market in the country. With the development in healthcare and technological advancement and infrastructure development countries like India and China are also coming up with increasing number of genetic testing per year, increasing the growth of market in developing countries as well.
It is the most beneficial and quickly extending market segment of sub atomic diagnostic. It is utilized as the restorative apparatus to decide the heredity deformities connected with a specific ailment by analyzing the RNA and DNA. Heredity testing one of the application of genetic testing is utilized as the part of non-clinical testing. Prenatal testing or new born diagnosis are the two major application of genetic testing worldwide.
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Global Genetic Testing Market Players:
• Abbott (US)
• AutoGenomics (Ireland)
• Biocartis (Switzerland)
• Bio-Rad (US)
• Cepheid (US)
• EKF Diagnostics (UK)
• Elitech Group (France)
• IntegraGen (France)
• Interpace Diagnostics (US)
• Myriad Genetics (US)
• Perkin Elmir (USA)
• Quest Diagnostic (US)
• Roche diagnostic
• WaferGen Biosystem
• Apart from them there are other participants of the market as well.
Segmentation:
Global genetic testing market is majorly segmented depending on methods, application and end users. Based on methods the market is segmented into cytogenetic, biochemical and molecular. Based on techniques used in screening these are classified into PCR, southern blotting, ligation and others. Further on the basis of application the market is further classified into new born screening, diagnostic testing, prenatal testing, forensic testing, and more. Similarly on the basis of end users the market is again segmented into hospitals, research labs and centers, institutions and others etc.
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The report for global genetic testing market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions

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