Hereditary Genetic Testing Size, Growth Analysis and Precise Outlook with Expert Review
- sareena shaikh
- Feb 1, 2023
- 4 min read
The global hereditary genetic testing market size reached USD 21.35 Billion in 2021 and is expected to register a revenue CAGR of 13.4% during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of cancer and genetic cardiac diseases among the population, rapid advancement of genetic research and sequencing technologies as well as rising demand for direct-to-consumer genetic testing for developing personalized medicine specifically targeted to individuals are some of the key factors driving revenue growth of the hereditary genetic testing market.
The report provides an in-depth analysis of the competitive landscape, along with company profiling of key players involved in the global Hereditary Genetic Testing market drivers and restraints market. The authors of the report make sure to equip readers with a thorough evaluation of the vendor landscape and inform them of the current and future changes that can be expected. The competitive analysis offered in the report inspects the market share, gross margin, product portfolio, consumption, market status, and technologies of leading players controlling a significant portion of the global Hereditary Genetic Testing market drivers and restraints market.
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Some Key Highlights From the Report
The academic research centers segment accounted for largest revenue share in 2021. The objectives of research testing include discovering new genes, understanding how genes function, creating tests for potential therapeutic application, and improving our knowledge of genetic disorders. Patients and their medical professionals typically do not have access to the findings of testing conducted as part of a research study. For instance, the National Institutes of Health (NIH) contribute to the funding of various sizable centers managed by the Johns Hopkins Institute of Genetic Medicine. These resources have a long history at Johns Hopkins and serve as the basis for innovative research in addition to offering assistance and knowledge to scientists across the globe. Furthermore, more research centers are opening up in developing countries to offer genetic testing to patients with low economic background is driving revenue growth of the segment.
The presymptomatic and Predictive testing segment is expected to grow at a steady CAGR during the forecast period. Tests that are predictive and presymptomatic are used to find gene variants linked to disorders that manifest after birth, frequently later in life. These tests can be useful for those who do not yet exhibit any symptoms of the genetic disease but have a family relative who does. This kind of genetic testing is available for a number of heritable genetic disorders, such as hereditary cancer syndromes, inherited heart problems, and genetic neurodegenerative disorders. Presymptomatic Testing (PST) for a variety of genetic disorders has been made available by recombinant DNA technology that made testing samples through linkage analysis practicable. PST was made available to people with Lynch syndrome, familial adenomatous polyposis, and elevated risk of breast and ovarian cancer as knowledge of familial cancer syndromes grew. PST can now be administered by medical experts outside of specialized genetic institutes and is now available for a much larger spectrum of ailments owing to the information that is now known about individual disease-causing genes, which is driving revenue growth of this segment.
Some major companies in the global market report include Mybrid Genetics, Inc., Invitae Corporation, Illumina, Inc.., F Hoffmann-La Roche Ltd, Quest Diagnostics Incorporated, Thermo Fisher Scientific, Inc., Ambry Genetics, NeoGenomics Laboratories, MedGenome, and Aetna Inc.
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Emergen Research has segmented the global hereditary genetic testing market on the basis of type, technology type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
Diagnostic testing
Presymptomatic and Predictive testing
Carrier testing
Prenatal Testing & Newborn Screening
Others
Technology Type Outlook (Revenue, USD Billion; 2019-2030)
Biochemical testing
Cytogenetic testing
Molecular testing
Application Outlook (Revenue, USD Billion; 2019-2030)
Oncology Genetic Testing
Cardiology Genetic Testing
Neurology Genetic Testing
Others
End-use Outlook (Revenue, USD Billion; 2019-2030)
Academic research centers
Clinical Diagnostic Laboratories
Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Turkey
Rest of MEA
Key Parameters Analyzed in This Section:
Company Profiles
Gross Revenue
Profit margins
Product sales trends
Product pricing
Industry Analysis
Sales & distribution channels
Regional Segmentation:
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
Key Points Covered in This Section:
Regional contribution
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate
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Key Offerings of the Report:
Detailed overview of market dynamics including drivers, restraints, opportunities, challenges, and growth prospects
Analysis of the key strategic initiatives and competitive landscape including mergers & acquisitions, joint ventures, collaborations, product launches, and brand promotions, and partnerships, among others
Comprehensive analysis of the industry outlook and analysis of the industrial chain
Market forecast based on global, regional, and country-level market analysis
Competitive landscape benchmarking
In-depth analysis of the key market players with their product portfolios, financial positions, unique selling points, market share and size, and a comprehensive overview of their business
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors
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