The advent of genetic tests has
revolutionized the molecular diagnostics and cytogenetic industry. It is one of
the most rapidly growing segments in molecular diagnostics industry, which
helps in delivering customized health services or personalized medicine. The
share of genetic testing is incessantly increasing in the market. Growing
awareness about genetic testing, technological advances in genetic sequencing,
and rising incidences of genetic diseases especially cancer are some of the
major factors propelling the genetic testing market.
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The report "Global Genetic
Testing Market Outlook 2022" provides a detailed analysis of the genetic
testing market. The report also provides an insight regarding the current and
future prospective of the market. This report covers the major trends and drivers,
and their impact on the market. The report also discusses some of the
restraints that can hinder the growth of the market, as well as rising
opportunities which can provide new dimensions to the industry.
The segmentation of genetic
testing markets has been done in the report on the basis of applications,
diseases, and geographical regions.
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Based on application, the genetic
testing market is divided into Diagnostic Testing, Newborn Screening, Prenatal
Testing, Carrier Screening, and Others. Diagnostic testing and Newborn
screening are the major application areas of genetic testing industry. The
large shares of these applications can be attributed to presence of huge
players in the segment, and to rising number of genetic tests performed for
this purpose. The Carrier Testing market is expected to witness the highest
growth during 2016-2022. This growth is likely to be driven by the huge
population opting for carrier screening of cystic fibrosis, exhibiting
unprecedented rise in the US. The report provides current and forecasted market
for each of the application areas of Genetic Testing.
The major disease
profiles/conditions for which Genetic Testing is used include Alzheimer's
Disease, Cystic Fibrosis, Cancer, Down Syndrome, and Others. Cancer accounts
for largest share amongst the diseases for which genetic testing is done. This
large share can be attributed to the rising prevalence of cancer, which is
expected to increase as the global population ages. Approximately 75-80% of all
cancers are diagnosed in people aged 55 or older, and this pattern is expected
to increase by 2020. The report provides current and forecasted market for each
of the genetic conditions of Genetic Testing.
Moreover, the report also
contains markets for the major regions including North America, Europe, Asia
Pacific, and Rest of the World. North America contributes the largest share in
the global genetic testing market, followed by Europe. Presence of major players,
increased awareness and higher disposable income, are some of the prominent
factors that have led to North America being the market leader. The
Asia-Pacific market is expected to witness the highest growth during 2016-2022.
The major reasons for the high growth are the increasing per capita income and
gradual development of healthcare sector in countries, such as India and China.
North America and Europe are expected to grow at modest rate due to launch of
new and innovative products in these market.
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