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Genetic testing market is projected to grow considerably in the coming years by P&S Intelligence. The global genetic testing market size is projected to grow considerably in the coming years.

The global genetic testing market size is projected to grow considerably in the coming years, due to the growing number of test to study multiple genes that may help in managing individual health condition. Additionally, the government initiatives to spread awareness with respect to the advantages of procedure is further expected to drive the growth of the market.

The different technologies used for genetic testing include cytogenetic testing, molecular testing, and biochemical testing. Molecular testing was the most widely utilized technology used for testing and analysis of genes, and held the largest share in the global market, in 2016.

This leading position of the category is mainly attributable to the increasing analysis on the biological markers in the genome and proteome studies.

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Increasing application of the gene testing in oncological research, rising incidences of genetic disorders, technological advancements and rising demand for personalized medicine are the major drivers augmenting the growth of the genetic testing industry.

According to the WHO, sickle cell anemia is one of the genetic disordersparticularly common among people whose ancestors come from Sub-Saharan Africa, South America, Cuba, Central America, Saudi Arabia, India, and Mediterranean countries such as Turkey, Greece, and Italy.However, high cost involves in gene testing, and lack of the experienced professionals are the key factors hampering the growth of the genetic testing market.

Genetic tests in conjugation with other genomic technologies would help predict the risk of an individual to a disease and is also expected to assist clinicians to select suitable therapeutic interventions.

These factors also increase the opportunities for players in pharmaceutical industry to grow, by providing treatment options to their end users. For instance, 23andMe offers direct genetic makeup tests to the consumers and based on the results of tests, the company recommends genetic counsellors to help the consumers about the better testing of genes, and the inherited diseases.

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Genetic Testing Market Segmentation

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By Clinical Indication

By Region

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Genetic Testing Market size, leaders, segment analysis and forecast to 2030 interpreted by a new report - WhaTech Technology and Markets News

This entry was posted on February 13, 2020 at 12:49 pm and is filed under Genetic medicine. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed. |