Overview: Genetic testing is a type of test that identifies changes or abnormalities in chromosomes, genes, or proteins. The results of a genetic test can be utilized to confirm or rule out a suspected genetic condition or help determine a person’s chance of developing or passing on a genetic disorder. There are more than 1,000 genetic tests that are currently in use, and more are being developed. Several methods can be used for genetic testing. Molecular genetic tests are used to study single genes or short lengths of DNA to identify variations or mutations that lead to a genetic disorder. Chromosomal genetic tests are used to analyze whole chromosomes or long lengths of DNA to see if there are large genetic changes such as an extra copy of a chromosome, that cause a genetic condition. Biochemical genetic tests are used to study the amount or activity level of proteins and any abnormalities in either amount or activity of protein can indicate changes to the DNA that results in a genetic disorder.
The market for genetic testing 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. Whereas, high test cost and ethical issues related to genetic testing are limiting the growth of the market to an extent.
Market Analysis: The “Global Genetic Testing market” is estimated to witness a CAGR of 11.4% during the forecast period 2018–2024. The global market is analyzed based on two segments – test types and regions.
Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). North America is the major shareholder in the global genetic testing market, followed by Europe. Presence of well-established healthcare facilities, robust research and development activities, and increasing product launches is 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.
Test type Analysis: The genetic testing market by test type is segmented into diagnostic testing, prenatal & newborn testing, predictive & presymptomatic screening, and others. Diagnostic testing occupied the major market share in 2017 and 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 made the diagnostic testing segment as a major shareholder in 2017.
Qiagen N.V., Abbott Laboratories, F. Hoffmann-La Roche Ltd, Quest Diagnostics, Illumina, Inc., Natera, Inc., bioMerieux S.A., Myriad Genetics, Luminex Corporation, Bio-Rad Laboratories, Laboratory Corporations of America Holdings, Cepheid (Danaher Corporation), and niche players.
Competitive Analysis: In the 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 has announced its partnership with LifeCell to bring PrenaTesT qNIPT testing for the first time to India. In June 2018, Ambry Genetics and Akcea Therapeutics have 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 have 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.
Benefits: The report provides complete details about the services offered by genetic testing companies in various therapeutic verticals and regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player’s initiatives. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.