Global Genetic Testing Market Forecasts upto 2024
- October, 2018
- Domain: Healthcare - Diagnostics
- Get Free 10% Customization in this Report
This market research report includes a detailed segmentation of the global Genetic Testing market by Test Type (Diagnostic testing, Prenatal and newborn testing, Predictive and presymptomatic screening, and Others) and by Region (North America, Europe, APAC, and RoW). The market research report identifies Qiagen N.V., Abbott Laboratories, F. Hoffmann-La Roche Ltd., Quest Diagnostics, and Illumina Inc. as the major vendors operating in the global genetic testing market.
Overview of the Global Genetic Testing Market
Infoholic’s market research report predicts that the global Genetic Testing market is expected grow at a CAGR of 11.4% during the forecast period 2018–2024.
According to the Genetic Testing market industry analysis, North America is the major shareholder in the market, followed by Europe. Presence of well-established healthcare facilities, robust research and development activities, and increasing product launches are driving the demand in this region. Asia Pacific is expected to grow at a high CAGR during the forecast period due to high patient pool, growing elderly population, increasing healthcare awareness, and expenditures.
Competitive Analysis and Key Vendors
The Genetic Testing market is driven by increasing disease incidence across the globe, upsurge in the demand for personalized medicine, growing emphasis on early disease detection and increasing healthcare spending, and growing healthcare awareness in emerging countries. However, high test cost and ethical issues related to genetic testing are limiting the growth of the market to an extent.
In recent years, owing to an increase in popularity of genetic testing, there is an increasing launch of new tests and collaborations. For instance, in May 2017, Natera Inc. announced the launch of Vistara single-gene mutation non-invasive prenatal testing. In June 2017, LifeCodexx AG, a pioneer in next generation non-invasive prenatal testing (NIPT) in Europe, announced its partnership with LifeCell to introduce PrenaTesT qNIPT testing in India. In June 2018, Ambry Genetics and Akcea Therapeutics launched a new genetic testing program, hATTR Compass, for individuals with suspected hereditary ATTR (hATTR) amyloidosis. In January 2018, 10x Genomics Inc., and Berry Genomics Co. Ltd. announced a collaboration to further develop approaches for NIPT. In March 2018, Thermo Fisher Scientific and Biocept signed a non-binding memorandum of understanding to collaborate commercially and under the collaboration companies initially plan to validate Thermo Fisher’s Oncomine next-generation sequencing liquid biopsy panels in Biocept’s CLIA-certified laboratory.
Some of the key vendors in the Genetic Testing market are:
- Qiagen N.V.
- Abbott Laboratories
- F. Hoffmann-La Roche Ltd.
- Quest Diagnostics
- Illumina Inc.
Other vendors in the global Genetic Testing market are Natera Inc., bioMerieux S.A., Myriad Genetics, Luminex Corporation, Bio-Rad Laboratories, Laboratory Corporations of America Holdings, Cepheid (Danaher Corporation), and various other niche players.
Segmentation (Test Type)
- Diagnostic testing
- Prenatal and newborn testing
- Predictive and presymptomatic screening
In 2017, the Diagnostic Testing segment occupied the major market share. Prenatal & Newborn Testing segment is expected to grow at the highest CAGR during the forecast period. Growing emphasis on early disease diagnosis and increasing disease incidence across the globe has made the Diagnostic Testing segment as a major shareholder in 2017.
The report provides detailed information about the service offered by genetic testing vendors in various therapeutic verticals and regions. Additionally, key stakeholders can find out the major trends, drivers, investments, vertical player’s initiatives in the upcoming years in the market. Moreover, the report provides details about the major challenges that are going to have an impact on market growth. Furthermore, the report gives complete details about the business opportunities to key stakeholders to expand their business and capture revenues in the specific verticals. The report will help companies interested or established in this market to analyze the various aspects of this domain before investing or expanding their business in the Genetic Testing market.
1 Industry Outlook
1.1 Industry Overview
1.2 Total Addressable Market
1.3 Industry Trends
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Market Definition – Infoholic Research
3.2 Advantages of Genetic Testing
3.3 Disadvantage of Genetic Testing
3.4 Segmented Addressable Market (SAM)
3.5 Trends of the Genetic Testing Market
3.6 Related Markets
3.6.1 Point-of-Care Diagnostics
3.6.2 Liquid Biopsy
3.6.3 Transplantation Diagnostics
3.6.4 Cell-Free DNA Testing
4 Market Outlook
4.1 Funding Scenario
4.2 Market Segmentation
4.3 PEST Analysis
4.4 Porter 5 (Five) Forces
5 Market Characteristics
5.1 DRO – Global Genetic Testing Market Dynamics
184.108.40.206 Increasing incidence of disease across the globe
220.127.116.11 Upsurge in the demand for personalized medicine
18.104.22.168 Growing emphasis on early disease detection
22.214.171.124 Upsurge in healthcare spending and growing healthcare awareness in emerging countries
126.96.36.199 Increase in collaborations
188.8.131.52 High test cost
184.108.40.206 Ethical issues related to genetic testing
5.2 DRO – Impact Analysis
5.3 Key Stakeholders
6 Test Type: Market Size and Analysis
6.2 Diagnostic Testing
6.3 Prenatal and Newborn Testing
6.4 Predictive and Presymptomatic Screening
7 Regions: Market Size and Analysis
7.2 North America
7.4 Asia Pacific
7.5 Rest of the World
8 Competitive Landscape
9 Vendor Profiles
9.1 Qiagen N.V.
9.1.2 Geographic Presence
9.1.3 Business Focus
9.1.4 SWOT Analysis
9.1.5 Business Strategies
9.2 F. Hoffmann-La Roche Ltd
9.2.2 Business Units
9.2.3 Geographic Presence
9.2.4 Business Focus
9.2.5 SWOT Analysis
9.2.6 Business Strategies
9.3 ABBOTT LABORATORIES
9.3.2 Business Units
9.3.3 Geographic Presence
9.3.4 Business Focus
9.3.5 SWOT Analysis
9.3.6 Business Strategy
9.4 Illumina, Inc.
9.4.2 Business Units
9.4.3 Geographic Presence
9.4.4 Business Focus
9.4.5 SWOT Analysis
9.4.6 Business Strategy
9.5 Quest Diagnostics
9.5.2 Business Units
9.5.3 Business Focus
9.5.4 SWOT Analysis
9.5.5 Business Strategy
10 Companies to Watch For
10.1 Natera, Inc.
10.2 Myriad Genetics, Inc.
10.3 Bio-Rad Laboratories
10.3.2 Bio-Rad Laboratories: Recent Developments
10.4 bioMerieux S.A.
10.4.2 BioMerieux S.A.: Recent Developments
10.5 Luminex Corporation
10.5.2 Luminex Corporation: Recent Developments
10.6 Cepheid (Danaher Corporation)
10.6.2 Cepheid (Danaher Corporation): Recent Developments
10.7 Laboratory Corporation of America Holdings (LabCorp)
10.7.2 Laboratory Corporation of America Holdings: Recent Developments
Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:
- Data Collation (Primary & Secondary)
- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
Market related information is congregated from both primary and secondary sources.
Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.