Global Genetic Testing Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Published - Apr 2019 | Category - Pharma & Healthcare | No. of Pages - 140 | Published By - EMR


The global genetic testing market is expected to grow significantly from USD 8,531.4 million in 2017 to USD 19,112.4 million in 2024, at an exponential CAGR of 12.2% from 2018 to 2024.

Genetic testing is used to identify mutations or changes in genes, chromosomes, and proteins.  Genetic tests are applied in the analyses of multiple genes to determine risk of various diseases, such as cancer and diabetes in early stage, which may eliminate the need for additional unnecessary clinical investigations. Moreover, there is a growing demand for genetic testing in developing countries due to increasing number of genetic disorders, and non-communicable chronic diseases such as cancer, diabetes, stroke and cardiac diseases. These non-communicable chronic diseases have subgroups with significant genetic risk components. Additionally, advancements in genetic technologies are rapidly changing the health care services in the developed and developing countries.

The growth in the genetic testing market is attributed to the increasing demand for personalized medicine, and growing incidence of genetic disorders. Moreover, increasing research and development activities, growing awareness among people, and rising government initiatives are further propelling the market growth.

Global Genetic Testing Market Major Key Companies

NeoGenomics Laboratories, Inc.
QIAGEN N.V.
Genomic Health, Inc.
Cepheid
Laboratory Corporation of America Holdings
Luminex Corporation
23andMe, Inc.
Quest Diagnostics Incorporated
F. Hoffmann-La Roche Ltd
Illumina, Inc
Cancer Genetics Inc.
Others


 

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