Genetic Testing Market Witnesses Robust Growth, Informs RNCOS E-Services in Its Topical Report Available at MarketPublishers.com15 Jul 2016 • by Natalie Aster
LONDON – The invention of genetic tests has revolutionised the cytogenetic and molecular diagnostics industry. Nowadays, genetic tests form the fastest-growing segment in the world’s molecular diagnostics industry, which helps to deliver customised health services or personalised medicine. The share of the genetic testing segment is continuously increasing. Robust growth in this segment is propelled by rising awareness of genetic testing, increasing incidence of genetic diseases (especially cancer) and ongoing technological advances in genetic sequencing.
In terms of application, the biggest genetic testing market shares belong to the diagnostic testing sector and newborn screening sector. This can be explained by the presence of huge players in these sectors together with increasing number of genetic tests performed for newborn screening and molecular diagnostics purposes. Meantime, the highest growth rates during 2016-2022 are expected to be registered in the carrier testing sector owing to rising demand for carrier screening of cystic fibrosis, especially in the US.
At present, cancer holds the lion’s share amid the diseases for which genetic testing is done. This can be attributed to the expanding prevalence of cancer worldwide, which is expected to even increase in the years ahead.
Regionally, North America takes the leading position in the world’s genetic testing market, followed by Europe. Increased awareness, presence of strong players and higher disposable incomes are only some of the factors that help the North American region to hold the market leadership. However, the highest growth through 2022 is likely to be witnessed in the APAC region majorly owing to rising per capita income and also gradual developments in the healthcare industry, especially in China and India.
The in-demand report “Global Genetic Testing Market Outlook 2022” by RNCOS E-Services Pvt. Ltd. offers a comprehensive analysis of the world’s genetic testing marketplace with a focus on the emerging trends and future growth prospects.
The research study includes an insightful overview of the main growth driving and hindering factors, discusses the emerging challenges and identifies lucrative opportunities. It contains a detailed assessment of the genetic testing market on the basis of diseases, applications and geography.
The report characterises the competitive landscape, offers data on the top market players, contains an overview of the recent launces and product developments.
Future forecasts for the world’s genetic testing market through 2022 are available as well.
Other research reports prepared by RNCOS E-Services are provided in this catalogue.