Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Rare Disease Genetic Testing market.
Trusted Business Insights presents an updated and Latest Study on Rare Disease Genetic Testing Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market.The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Rare Disease Genetic Testing market during the forecast period (2020-2029).It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Rare Disease Genetic Testing Market 2020 and Forecast 2021-2027 Includes Business Impact Analysis of COVID-19
Report Overview: Rare Disease Genetic Testing Market
The global rare disease genetic testing market size was valued at USD 690.1 million in 2020 and is projected to register a Compound Annual Growth Rate (CAGR) of 8.8% from 2021 to 2027. Misdiagnosis can result in interventions that could later be considered inappropriate for the underlying disorder. Thus, the need for an accurate and timely diagnosis for rare conditions drives the demand for genetic testing. Currently, the lack of awareness pertaining to these conditions is one of the primary challenges for the market. Thus, several efforts are being undertaken to help raise awareness about various aspects of rare and ultra-rare diseases, such as the challenges pertaining to diagnosis and clinical implementation of available diagnostic approaches.
Companies like Shire Plc are engaged in supporting domestic diagnostic testing for rare disorders in certain countries and offer learning programs for healthcare experts on genetic testing. Every country has developed its registry for rare diseases that acts as a focal point of information on these conditions. Patient registries and databases play a integral role in clinical research in the field of rare diseases and help in improving healthcare planning and patient care.
A rise in the number of available registries is one of the major driving factors of the market as it enables pool data to achieve a sufficient sample size for epidemiological and/or clinical research. Furthermore, technological advancements in data collection and interpretation for clinical practice has driven the market. Companies are making efforts to ensure efficient data collection from various ethnicities, which is expected to aid in the diagnosis of thousands of patients with the same condition.
In addition, companies, such as Centogene, combine genetic testing with metabolomics and proteomics to make their data analysis process as accurate as possible. The multi-omics approach helps better understand the impact of a given mutation on the protein as well as at the metabolite level. The company has also introduced a system to simplify the sample collection process, thereby driving the adoption of genetic tests for rare disease diagnosis.
Disease Type Insights: Rare Disease Genetic Testing Market
Neurological disorders segment accounted for the largest share of 12.9% in 2019. A substantial number of commercially-approved genetic tests for neurologic conditions coupled with a high prevalence of neurological diseases has accelerated the revenue growth in this segment. Tests offered by companies are recommended by several medical institutes, such as the American Academy of Neurology, American College of Medical Genetics, and Child Neurology Society.
Furthermore, the advent of high-throughput techniques, such as exome sequencing and whole-genome sequencing, has offered lucrative opportunities for companies offering tests for diseases, such as X-ALD. Exome sequencing and whole-genome sequencing have helped in addressing complicated cases of X-ALD that present an atypical disease course.
Moreover, immunologic disorders, such as Multiple Sclerosis (MS), are among the most prevalent rare diseases. The genetic profile of MS is one of the key focus areas among researchers in this field. This is primarily to obtain relevant insights pertaining to the causes and underlying physiology of diseases, resulting in a significant share of this segment.
End-use Insights: Rare Disease Genetic Testing Market
Research laboratories & CROs captured the maximum share of 46.9% of the market in 2019. This is primarily because in a substantial number of cases, blood samples collected from patients are sent to a laboratory for testing. Laboratories offer testing based on various specialties, including molecular, chromosomal, and biochemical genetic tests. For instance, ARUP Laboratories offers testing in molecular genetics, cytogenetics, genomic microarray, and biochemical genetics.
Laboratories also offer genetic counseling services that further accelerate the uptake of services among patients. Moreover, molecular genetic testing-based laboratory testing is rapidly increasing worldwide. Genetic tests are conducted by multiple laboratories, including those that are accredited with CLIA for clinical cytogenetics, pathology, and chemistry, among other specialties. These companies are involved in expanding their test portfolio by undertaking various strategic initiatives.
For instance, in January 2020, Quest Diagnostics acquired Blueprint Genetics to enhance its expertise in genetic disorders and rare diseases. Furthermore, in June 2018, Centogene launched its diagnostic laboratory in Cambridge, Massachusetts. Such initiatives depict the growing interest of diagnostic centers in genetic testing of rare diseases, which is likely to boost segment growth.
Technology Insights: Rare Disease Genetic Testing Market
Next Generation Sequencing (NGS) accounted for the largest share of 36.6% in 2019 owing to the high usage of Whole Exome Sequencing (WES). WES is being considered a highly potential method in a case where the genetic cause of disease is unknown and is difficult to identify. WES is becoming the standard of care for patients with undiagnosed rare diseases. This is attributed to the fact that exons make up around 1.5% of an individuals genome and contain 85% of all known disease-causing mutations.
Moreover, with the declining costs of WES, the cost of genetic testing is also anticipated to reduce significantly, making the test more affordable and accessible. In addition, medical coverage for WES-based genetic tests has favored segment growth. A substantial number of private health insurance agencies cover all or part of the cost of genetic testing, post recommendation by a healthcare professional. As compared to WES, clinical Whole Genome Sequencing (WGS) has lesser demand.
However, with a continuous decrease in cost, adoption of WGS is expected to amplify. For instance, the Rady Childrens Institute for Genomic Medicine offers singleton-rapid WGS and a trio-rapid WGS at a reasonable cost. In February 2020, Dante Labs launched an initiative to offer WGS to patients with rare diseases for USD 299. The service included WGS 30X on Novaseq6000 technology, data interpretation, and personalized therapy on these diseases.
Specialty Insights: Rare Disease Genetic Testing Market
Accounting for more than 40% revenue share, molecular genetic tests led the market in 2019. Rapid technological advancements and expertise in handling & managing high throughput technologies within clinical settings have driven the revenue in this segment. Molecular genetic test methods enable investigating single genes or short lengths of DNA for the detection of mutations or variations leading to genetic disorders.
Apart from rare diseases, the method also covers testing of ultra-rare diseases, which will augment the segment growth in future. Biochemical genetic tests are expected to register the second-fastest CAGR during the forecast period owing to their efficiency to assess the activity and amount of proteins & related abnormalities for the identification of changes in the DNA that can cause a metabolic disorder.
Also, the companies are expanding their test portfolio to capitalize on the potential opportunities present in this segment. In September 2019, Blueprint Genetics collaborated with ARCHIMEDlife to launch high-quality biochemical tests for rare diseases. Such developments are anticipated to boost the revenue share of the segment in the coming years.
Regional Insights: Rare Disease Genetic Testing Market
North America accounted for the largest market share of over 47% in 2019. Factors, such as high incidence of rare disorders, a large number of rare disorders registries, and the presence of substantial numbers of R&D facilities for rare & ultra-rare diseases, and extensive investments in the diagnosis of rare disorders in the region drives the market growth. As per the National Institutes of Health (NIH), around 30 million Americans have been identified with one of 7,000+ known rare diseases. Moreover, the number of patients undergoing disease testing is expected to increase in the coming years, thereby supporting market growth.
Asia Pacific is expected to register the fastest CAGR from 2020 to 2027 due to rising awareness and target population in Asian countries. China is attempting to shift the attention of the healthcare system towards the diagnosis and treatment of rare disorders. The government in the country has included rare disease management as a public health priority in its 2030 roadmap titledHealthy China 2030. Furthermore, in June 2018, the country released its first list of rare disorders to enable the patients to find solutions effectively at their local hospitals.
Key Companies & Market Share Insights: Rare Disease Genetic Testing Market
The development of technologies, such as WES & WGS, has significantly transformed genetic testing space by offering convenient and cost-effective methods that can be conducted for a wide range of conditions across multiple clinical settings. As a result, major diagnostic companies are engaged in expanding their product portfolio that can be used to conduct tests for rare and ultra-rare conditions.
In addition, they have undertaken various initiatives, such as mergers & acquisitions, to expand their offerings and subsequently strengthen their presence in this market. For example, the acquisition of GeneDX by OPKO. The acquisition helped the latter company to expand its business in the market. Similarly, Quest strengthened its presence in the market with the acquisition of Blueprint Genetics. Another important acquisition in the market is Qiagens acquisition by Thermo Fisher.
The companies have signed an agreement in March 2020; however, it is targeted to be completed by the first quarter of 2021, as ThermoFisher Scientific is lining up finances for the USD 11.5 billion deal, with an offering worth $2.2 billion. This deal is expected to impact the life science tools and reagents market significantly. With regard to rare disorder genetic testing, Thermo Fisher Scientific is engaged in research and provides sequencing for the Osteogenesis imperfecta and Vascular Ehlers-Danlos syndrome. Some of the prominent players in the rare disease genetic testing market include:
Key companies Profiled: Rare Disease Genetic Testing Market Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global rare disease genetic testing market report on the basis of disease type, technology, specialty, end use, and region:
Disease Type Outlook (Revenue, USD Million, 2016 2027)
Technology Outlook (Revenue, USD Million, 2016 2027)
Specialty Outlook (Revenue, USD Million, 2016 2027)
End-use Outlook (Revenue, USD Million, 2016 2027)
Looking for more? Check out our repository for all available reports on Rare Disease Genetic Testing in related sectors.
Quick Read Table of Contents of this Report @ Rare Disease Genetic Testing Market 2020 and Forecast 2021-2027 Includes Business Impact Analysis of COVID-19
Trusted Business InsightsShelly ArnoldMedia & Marketing ExecutiveEmail Me For Any ClarificationsConnect on LinkedInClick to follow Trusted Business Insights LinkedIn for Market Data and Updates.US: +1 646 568 9797UK: +44 330 808 0580
Originally posted here:
Rare Disease Genetic Testing Market 2020 and Forecast 2021-2027 Includes Business Impact Analysis of COVID-19 - Eurowire
- Genetic Discrimination Is Coming for Us All - The Atlantic - November 16th, 2024
- Family connection: Genetics of suicide - WNEM - November 16th, 2024
- Study links heart shape to genetic risk of cardiovascular diseases - News-Medical.Net - November 16th, 2024
- Genetic architecture of cerebrospinal fluid and brain metabolite levels and the genetic colocalization of metabolites with human traits - Nature.com - November 16th, 2024
- Genetic connectivity of wolverines in western North America - Nature.com - November 16th, 2024
- Toward GDPR compliance with the Helmholtz Munich genotype imputation server - Nature.com - November 16th, 2024
- Leveraging genetic variations for more effective cancer therapies - News-Medical.Net - November 16th, 2024
- Bringing precision to the murky debate on fish oil - University of Arizona News - November 16th, 2024
- International experts gathered in Tashkent to tackle rare disease for Uzbekistan - EurekAlert - November 16th, 2024
- Mercys Story: Living life with 22q, a genetic condition - WECT - November 16th, 2024
- Cold case with ties to Houghton County solved through genetic genealogy after 65 years - WLUC - November 16th, 2024
- 23andMe customer? Here's what to know about the privacy of your genetic data. - CBS News - November 16th, 2024
- Single-cell RNA analysis finds possible genetic drivers of bone cancer - Illumina - November 16th, 2024
- Multi-trait association analysis reveals shared genetic loci between Alzheimers disease and cardiovascular traits - Nature.com - November 16th, 2024
- With 23andMe Struck by Layoffs, Can You Delete Genetic Data? Here's What We Know - CNET - November 16th, 2024
- Genetic testing firm 23andMe cuts 40% of its workforce amid financial struggles - The Guardian - November 16th, 2024
- Genetic study solves the mystery of 'selfish' B chromosomes in rye - Phys.org - November 16th, 2024
- Genetic changes linked to testicular cancer offer fresh insights into the disease - Medical Xpress - November 16th, 2024
- Eating less and genetics help you to live longer, but which factor carries the most weight? - Surinenglish.com - November 16th, 2024
- We must use genetic technologies now to avert the coming food crisis - New Scientist - November 16th, 2024
- NHS England to screen 100,000 babies for more than 200 genetic conditions - The Guardian - October 6th, 2024
- Largest-ever genetic study of epilepsy finds possible therapeutic targets - Medical Xpress - October 6th, 2024
- 23andMe is on the brink. What happens to all its DNA data? - NPR - October 6th, 2024
- The mountains where Neanderthals forever changed human genetics - Big Think - October 6th, 2024
- Gene Activity in Depression Linked to Immune System and Inflammation - Neuroscience News - October 6th, 2024
- Integrative multi-omics analysis reveals genetic and heterotic contributions to male fertility and yield in potato - Nature.com - October 6th, 2024
- Genetic and non-genetic HLA disruption is widespread in lung and breast tumors - Nature.com - October 6th, 2024
- Aneuploidy as a driver of human cancer - Nature.com - October 6th, 2024
- Myriad Genetics and Ultima Genomics to Explore the UG - GlobeNewswire - October 6th, 2024
- Biallelic and monoallelic variants in EFEMP1 can cause a severe and distinct subtype of heritable connective tissue disorder - Nature.com - October 6th, 2024
- Genetic and clinical correlates of two neuroanatomical AI dimensions in the Alzheimers disease continuum - Nature.com - October 6th, 2024
- Cracking the Genetic Code on Facial Features - DISCOVER Magazine - October 6th, 2024
- Ancestry vs. 23andMe: How to Pick the Best DNA Testing Kit for You - CNET - October 6th, 2024
- The Mercedes-AMG C63 is bold, but beholden to its genetics - Newsweek - October 6th, 2024
- The Austin Chronic: Texas A&Ms Hemp Breeding Program Adds Drought-Resistant Genetics to the National Collection - Austin Chronicle - October 6th, 2024
- Genetics and AI Help Patients with Early Detection of Breast Cancer Risk - Adventist Review - October 6th, 2024
- 23andMe Is Sinking Fast. Can the Company Survive? - WIRED - October 6th, 2024
- Genetic variations in remote UK regions linked to higher disease risk - Medical Xpress - October 6th, 2024
- Comprehensive mapping of genetic activity brings hope to patients with chronic pain - Medical Xpress - October 6th, 2024
- Genetics - Definition, History and Impact | Biology Dictionary - June 2nd, 2024
- Gene | Definition, Structure, Expression, & Facts | Britannica - June 2nd, 2024
- Raha Kapoor's blue eyes remind fans of her great-grandfather, Raj Kapoor; here's what genetics says - IndiaTimes - December 30th, 2023
- Human genetics | Description, Chromosomes, & Inheritance - December 13th, 2023
- BASIC GENETICS INFORMATION - Understanding Genetics - NCBI Bookshelf - December 13th, 2023
- Introduction to Genetics - Open Textbook Library - December 13th, 2023
- "When them genetics kick in its all over" - NBA fans send in rib-tickling reactions as LeBron James attends Zhuri James' volleyball game -... - October 16th, 2023
- David Liu, chemist: We now have the technology to correct misspellings in our DNA that cause known genetic diseases - EL PAS USA - April 7th, 2023
- World Health Day 2023: Understanding the science of Epi-genetics and how to apply it in our daily lives - Free Press Journal - April 7th, 2023
- Genetics - National Institute of General Medical Sciences (NIGMS) - March 29th, 2023
- GENETICS 101 - Understanding Genetics - NCBI Bookshelf - March 29th, 2023
- People always think Im skinny because of good genetics theyre shocked when they see what I used to lo... - The US Sun - March 29th, 2023
- Forensics expert explains 'genetic genealogy' process believed to be used in Kohberger's arrest - KTVB.com - January 6th, 2023
- Idaho student murders: What is genetic genealogy, a tool reportedly used to help capture the suspect? - FOX 10 News Phoenix - January 6th, 2023
- What is a Genetic Counselor and How Can They Help You Navigate Your Healthcare Journey? - ABC4.com - December 3rd, 2022
- Ancient Art and Genetics Reveal Origin of World's Most Expensive Spice - The Wire Science - June 26th, 2022
- Myriad Genetics Teams Up with Epic to Make Genetic Testing Accessible to More Patients with Electronic Health Record (EHR) Integration - GlobeNewswire - June 26th, 2022
- Obesity and genetics: Expert shares insights - Hindustan Times - June 26th, 2022
- Researchers discover genetic variants that increase Alzheimer's risk - WCVB Boston - June 26th, 2022
- Where science meets fiction: the dark history of eugenics - The Guardian - June 26th, 2022
- Clinical Conference: A Discussion with BASE10 Genetics - Skilled Nursing News - June 26th, 2022
- Genetics Really Said Copy And Paste: People Are Amazed At How Similar This Woman Looks To Her Dad In These 5 Recreation Photos - Bored Panda - June 26th, 2022
- 49 Genetic Variants That Increase the Risk of Varicose Veins Identified - Technology Networks - June 26th, 2022
- Genetic relationships and genome selection signatures between soybean cultivars from Brazil and United States after decades of breeding | Scientific... - June 26th, 2022
- Earlham woman loses weight with ChiroThin after her own doctor told her "genetics" wouldn't allow that to happen | Paid Content - Local 5 -... - June 26th, 2022
- Science and genetics used to boost Fernside farm - New Zealand Herald - June 26th, 2022
- Genetics-based guidelines to buying a bull at an auction - Farmer's Weekly SA - June 26th, 2022
- Polio: we're developing a safer vaccine that uses no genetic material from the virus - The Conversation - June 26th, 2022
- 7 lifestyle habits which can halve your risk of dementia - World Economic Forum - June 26th, 2022
- Addressing the 'Trust Factor': South Carolina Researchers Tackle Health Disparities Using Genetics - Physician's Weekly - June 8th, 2022
- Dumb luck, genetics? Why have some people never caught COVID-19? | Daily Sabah - Daily Sabah - June 8th, 2022
- Genetics Breakthrough in Sea Urchins to Aid in Biomedical Research - Scripps Institution of Oceanography - June 8th, 2022
- Genetic Control Of Autoimmune Disease Mapped To Cellular Level - Bio-IT World - June 8th, 2022
- Bazelet to Supply Its Federally Legal Cannabis Genetics to DEA Approved Research Entities for Rigorous Scientific Research on the Clinical Effects of... - June 8th, 2022
- Alameda County Awaits Key Decision Regarding The Use of Genetic Testing in Asbestos Cases - JD Supra - June 8th, 2022
- Diversity in Genetic Research Is Key to Enhancing Treatment of Chronic Diseases in Africa - Technology Networks - June 8th, 2022
- CSU partners with American Hereford Association on genetics research - Beef Magazine - June 8th, 2022
- Unraveling the Tangled History of Polar Bears to Brown Bears Using Genetic Sequencing - Nature World News - June 8th, 2022
- Did My Lifestyle or Genetics Cause ATTR-CM? Learning More About This Heart Condition That Often Goes Misdiagnosed - SurvivorNet - June 8th, 2022
- Your genes affect your education. Here's why that's controversial. - Big Think - June 8th, 2022
- Study mines cancer genetics to help with targeted treatment - ABC News - April 26th, 2022