Genetic Testing Market Is Anticipated to Reach USD 17,321.37 Million by 2030 at 10.10% CAGR | MRFR
Research Reports
Dec 22, 2022
Genetic Testing Market Overview
The genetic testing market is anticipated to reach USD 17,321.37 million by 2030 at 10.10% CAGR during the forecast period 2022-2030. The global market is anticipated to witness growth owing to the factors such as the rising prevalence of genetic disorders as well as the rising awareness about the benefits of genetic testing. However, the Global Market will face challenges and restraints due to lack of expertise and the lack of medical solutions for all the diseases diagnosed during the forecast period 2022 to 2030.
The increasing prevalence of genetic disorders in the Global Market is set to play a key role in determining the growth potential during 2022 to 2030 years. Analysts have also studied the Global Market to understand potential threats and challenges the Global Market companies could face. Despite the fact that the Global Market is anticipated to expand quickly across method, application, and type segments, obstacles like a lack of qualified technicians may hinder the market’s expansion globally.
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Genetic Testing Market Regional Analysis:
The expansion of the global market may be hampered by the absence of treatments for all diseases identified. According to the market research analysis, businesses in the global market may benefit from the rising need for efficient testing methods and a cure for cancer throughout the course of the forecast period. These important aspects will cause the global market to grow at a rapid CAGR. The Genetic Testing Market is widespread around the world, including North America, Europe, Asia-Pacific, and other regions. According to the global genetic testing market research report, the regional genetic testing markets in APAC, North America, and Europe will dominate the global market for genetic testing from 2019 to 2024. According to industry experts, North America, which includes the United States, Canada, Mexico, and several other regional markets, is poised to experience substantial growth in the molecular genetic test/DNA test and reproductive health segments of the market. The Global Market research report also analyses and studies companies involved in the global market.
Genetic Testing Market Segmentation:
Method, applications, and type are the segments that make up the global market. The market is divided into biochemical genetic tests, chromosomal genetic tests, and molecular genetic tests/DNA tests based on the segment that is method. The global genetic testing market is further divided based on applications into reproductive health (carrier screening, newborn screening, and prenatal screening), cancer screening (breast cancer, colon cancer, hereditary cancer, and ovarian cancer), ancestry, pre-symptomatic testing, predictive, and others. Additionally, the market is divided into direct-to-consumer genetic testing and genetic testing that is prescribed.
Based on the segmentation analysis of these method, applications, and type segments, the worldwide market research study covers all elements of the global market. Regional markets for genetic testing that are dispersed over numerous continents and nations have also been investigated by analysts. Companies operating in the Global Market across these segments are profiled and analysed based on input and feedback from Global Market based decision makers as well as primary and secondary sources. The method, applications, and type segments as well as their sub-segments have been analyzed. The global market research study offers information for businesses operating in the genetic testing market that is analysis-based.
Browse In-depth Market Research Report (150 Pages) on Genetic Testing: https://www.marketresearchfuture.com/reports/genetic-testing-market-2009
Genetic Testing Market Key Players:
The key players in the genetic testing market are:
- PerkinElmer Inc. (US)
- Myriad Genetics Inc. (US)
- Abbott Laboratories (US)
- Illumina Inc. (US)
- Bio-Rad Laboratories Inc. (the US)
- QIAGEN (Germany)
- Eurofins Scientific (US)
- Quest Diagnostics Incorporated (US)
- Hoffmann-La Roche Ltd (Switzerland)
- Thermo Fisher Scientific Inc. (US)
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