The Genetic Diagnostic Testing Market shall be growing unabatedly in the future. The healthcare vertical is expected to go “personalized” in the next 10 years. Thus, genomics and genetics, along with the other biologic information, going personalized will help in early diagnosis of the disease and also how patients will respond to the treatments. Likewise, the healthcare vertical would be there to make greater strides in the forecast period.
Genetic diagnostic testing is used to detect genetic diseases such as cystic fibrosis and Huntington’s diseases. Genetic diagnostic testing detects specific gene alteration, analysis of DNA and genetic material. The genetic diagnostic testing market is projected to grow significantly over the forecast period growing number of tests to help to treat and manage individual health conditions.
Several methods are currently used for genetic diagnostic testing, type of test will depend on the type of abnormality. Cytogenetic, biochemical and molecular testing are the main type of technology used to detect anomalies in the DNA sequence, chromosome structure, and protein structure.
Cytogenetic testing involves the analysis of whole chromosomes structure for abnormalities detection. Biochemical testing is a clinical testing technique that examines the protein instead of the gene. Biochemical testing involves the measurement of protein activity, size or quantity of protein and level of metabolites.
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Molecular testing the most effective genetic diagnostic testing method. Molecular testing performed through direct DNA testing on any tissue sample and require the small amount of sample.
Genetic diagnostic testing market is growing with significant rate due to the demand for genetic diagnostic testing for the management of genetic disorders. Rising incidence of genetic disorder are expected propel the demand for genetic diagnostic testing products.
According to the Cystic Fibrosis Foundation Patient Registry, More than 30,000 people are living with cystic fibrosis in the United States. Increasing application of genetic diagnostic testing in oncological research are expected to fuel the growth of the genetic diagnostic testing market.
Growing technological advancement and healthcare expenditure are expected to favor the growth of the genetic diagnostic testing market. Increasing development and availability of technologically advanced genetic diagnostic testing products and techniques are key factor leading to the growth of the genetic diagnostic testing market.
Rising government funding and presence of a large number of research and academic institutes are driving the growth of the genetic diagnostic testing market. However, less awareness regarding genetic disorders among the general population and the complex regulatory framework are the major factor expected to hamper the growth of the genetic diagnostic testing market.
The global genetic diagnostic testing market is segmented on basis of technology, indication, end user and region:
|by End User||
Different technologies are used for genetic diagnostic testing which includes molecular testing, biochemical testing, and cytogenetic testing. By technology type, molecular testing segment is expected to gain large share in the genetic diagnostic testing market due to the adoption of biological marker test in genetic diagnostic testing. Genetic diagnostic testing performed for test large number of the cancer gene. Cancer is considered the leading cause of mortality and morbidity globally.
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Regionally, the global genetic diagnostic testing market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to lead the global genetic diagnostic testing market owing to advancement in genetic diagnostic testing technology. Europe also shows the second largest market in the genetic diagnostic testing market due to the increasing private and public funding for research development activities.
The genetic diagnostic testing market in the Asia-Pacific region is expected to witness significant growth rate in the coming years due to increasing healthcare expenditure, government initiatives, increasing per capita income. Presence of a large population base including a large base of the geriatric population holds potential promises in the growth of the genetic diagnostic testing market. However, the regions such as Latin America, and the Middle East and Africa show a sluggish growth during the forecast year.
Some of the players operating in the global genetic diagnostic testing market are Illumina Inc., Abbott Laboratories, Blueprint Genetics, Roche Holding AG, Qiagen, Thermo Fisher Scientific, Eurofins Scientific, Elitech Group, Centogene AG and others. Growing demography and economy in developing countries are expected to offer good opportunities for genetic diagnostic testing market players.
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The report covers exhaustive analysis on:
- Genetic Diagnostic Testing Market Segments
- Genetic Diagnostic Testing Market Dynamics
- Historical Actual Market Size, 2013 – 2017
- Genetic Diagnostic Testing Market Size & Forecast 2018 to 2026
- Genetic Diagnostic Testing Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Genetic Diagnostic Testing Market Drivers and Restraints
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