The Genetic Testing Service market was valued at US$ 9,546.2 million in 2019 and is expected to grow at a CAGR of 11.7% from 2020 to 2027 to reach US$ 22,701.8 million by 2027.
Genetic testing comprises a broad range of laboratory tests performed to analyze DNA, RNA, chromosomes, proteins, and certain metabolites using biochemical, cytogenetic, or molecular methods or a combination of these methods. The global genetic testing service market is driven by factors such as rising prevalence of the genetic diseases and rise in awareness & acceptance of personalized medicines and growing preference towards Direct-To-Consumer (DTC) genetic testing. However, the social and ethical implications of genetic testing, cost effectiveness and affordability of genetic services are anticipated to impede the market growth in the study period.
A qualitative research study accomplished by The Insight Partners titled “Global (United States, European Union and China) Composites in the Genetic Testing Services Market covers detailed Product / Industry Scope, current and future market size scenario and elaborates outlook and status to 2028” provides primary data, studies and vendor briefings. The market Study is segmented by key regions along with country level break-up which is accelerating the marketization and by products type, application/end-users. The research study provides estimates for Composites in the Genetic Testing Services forecast till 2028
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Genetic Testing Services Market Top Leading Vendors:-
- Laboratory Corporation of America Holdings
- Hoffmann-La Roche Ltd.
- Illumina, Inc.
- Quest Diagnostics Incorporated
- Exact Sciences Corporation
- NeoGenomics Laboratories, Inc.
- Eurofins Scientific
- Ambry Genetics
- Centogene AG
- 23andMe, Inc.
Global Genetic Testing Service Market – By Type
- Predictive Testing
- Carrier Testing
- Prenatal Testing
- Newborn Screening
Global Genetic Testing Service Market – By Disease
- Cancer Disease
- Metabolic Diseases
- Cardiovascular Diseases
Global Genetic Testing Service Market – By Service Provider
- Diagnostic Laboratories
- Hospital-Based Laboratories
Regionally, this report categorizes the production, apparent consumption, export and import of Genetic Testing Services Market in North America (United States, Canada and Mexico), Europe (Germany, Russia, France, UK, and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), Middle East and Africa (Saudi Arabia, Egypt, Nigeria, UAE and South Africa), South America (Argentina, Colombia and Brazil etc.).
The research document published on Global Genetic Testing Services Market is analyzed with industry experts in mind to maximize return on investment by providing clear evidence needed for Swell-versed business decisions. This research will help both established and new entrants to identify and analyze market needs, market size, and competition. It explains the supply and demand situation, the competitive scenario, and the challenges for market evolution, market openings and the threats faced by major players of Genetic Testing Services industry.
Further Genetic Testing Services market research report provides regional market analysis with production, sales, trade & regional forecast. It also provides market investment plan like product features, price trend analysis, channel features, purchasing features, regional & industry investment opportunity, cost & revenue calculation, economic performance evaluation etc.
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Moreover, key aspects covered in this report include market growth, Genetic Testing Services market demands, business strategies, consumption volume, and industry cost structure during the forecast period 2021-2028. The Porter’s five-force methodology is applied to understand the business situation by examining industry components such as buyers and risk of substitutes, the challenge to new entrants, and industrial rivalry.
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