Genetic Testing Services Market: Surge in Adoption of Genetic Testing Services to Boost the Market
Transparency Market Research (TMR) has published a new report titled, ‘Genetic Testing Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’.According to the report, the global Genetic Testing Services market was valued at US$ 41.2 Bn in 2018 and is projected to expand at a CAGR of 7.3% from 2019 to 2027.
- Genetic Testing is a medical test also known as DNA testing which determine changes in the chromosomes, genes, and proteins. This testing can suspect or rule out the suspected genetic conditions which determine any genetic disorder or diseases in the patients.
- Various genetic testing available in the market are molecular genetic tests, chromosome genetic tests, and biochemical genetic tests. These tests study the single genes, whole chromosomes, and identify the abnormalities or activity level of the proteins.
- Genetic testing would help in diagnosing diseases, severity of the disease, diagnosis or identifying the changes in the genes, inherited risk of developing the diseases, and also enables the patient and physicians for establishing the optimum treatment.
Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=10235
New Born Screening Segment to Dominate Global Genetic Testing Services Market
- In terms of test type, the global genetic testing services market has been segmented into prenatal testing, newborn screening, predictive & presymptomatic testing, pharmacogenomic testing, and others.
- New Born Screening segment likely to grow at highest growth care during forecast period. Rise in neonatal diseases, and increasing pediatric patients suffering from diseases are propelling factor for the segment growth in coming years.
- Predictive and Presymptomatic Testing is another segment likely to held major market share in genetic testing services market. Genetic mutation leading to the development of various chronic diseases boosting the need of genetic testing services market during forecast period.
Request for Analysis of COVID19 Impact on Genetic Testing Services Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=10235
Oncology Segment Hold a Major Share of Global Genetic Testing Services Market
- In terms of application, the global genetic testing services market has been classified into oncology, infectious diseases, autoimmune diseases and others. Oncology segment dominated the market in 2018 and it would continue its dominance during the forecast period.
- Attributable factors driving the segment growth ascribed to the rising incidences of breast cancer, colorectal cancer, lung cancer and other types across globe. Moreover, early diagnosis of the cancer through genetic testing is another driving factor for the segment growth in coming years. Predictive test of breast cancer is another propelling factor for the segment growth during forecast period.
Request for Custom Research - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=10235
Hospitals based laboratories Segment to Dominate Global Genetic Testing Services Market
- Based on service providers, the global genetic testing services market has been segmented into hospitals based laboratories, diagnostic laboratories, speciality clinics, and others. Hospitals based laboratories segment accounted for major share of the market. Rising incidence of diseases, increasing hospital stays, and growing geriatric population are few major factors expected to boost the segment during the forecast period. Moreover, long-term care of patients suffering from chronic diseases required expertise and standard diagnosis process likely to accelerate the hospital based laboratories segment during forecast period.
- Speciality clinics to grow at rapid growth care during forecast period, owing to increasing investments and extensive R&D activities and wide outsourcing of a few specialty tests are factors fueling the speciality clinics segment.
North America to Dominate Global Genetic Testing Services Market
- In terms of region, the global genetic testing services market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global genetic testing services market in 2018, followed by Europe.
- North America accounted for major share of the global genetic testing services market in 2018. Technological advancements, presence of key players, launching of novel products, demand of diagnostics for cancer detection, rising prevalence and incidences of autoimmune, infectious diseases in the region are attributable factors for the market growth of the region.
- The Genetic Testing Services market in Asia Pacific is anticipated to expand at a highest growth rate from 2019 to 2027. Increasing patient burden suffering from chronic diseases, and recent merger & acquisitions amongst key players offering genetic testing and services are estimated to propel the market in the Asia-Pacific region during forecast period.
Buy Genetic Testing Services Market Report - https://www.transparencymarketresearch.com/checkout.php?rep_id=10235<ype=S
The global genetic testing services market is consolidated in terms of number of players. Key players in the global Genetic Testing Services market include Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Genomic Health, Inc., NeoGenomics Laboratories, Inc, Eurofins Scientific, Ambry Genetics, Illumina, Inc, 23andMe, Inc., Exact Sciences, Natera, Invitae, Veracyte, and other prominent players.
Browse More Trending Reports by Transparency Market Research:
Nitinol Stents Market: https://www.transparencymarketresearch.com/nitinol-stents-market.html
Neurology Sterile Injectable Market: https://www.transparencymarketresearch.com/neurology-sterile-injectable-market.html
Microplate Systems Market: https://www.transparencymarketresearch.com/microplate-systems-market.html
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Mr. Rohit Bhisey
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453