According to The Insight Partners market research titled ‘Genetic Testing Service Market to 2027 – Global Analysis and Forecasts by Type, Disease, Service Provider and Size.’ The global genetic testing service market is expected to reach US$ 22,701.8 Mn in 2027 from US$ 9,546.2 Mn in 2019. The market is projected to grow with a CAGR of 11.7% from 2020-2027. The report provides trends prevailing in the global genetic testing service market along with market drivers and restraints.
The global genetic testing service market, based on the type, was segmented as predictive testing, carrier testing, prenatal testing, newborn screening and others. In 2019, the predictive testing segment accounted for the largest market share in the global Genetic Testing Service market by type. Predictive genetic testing searches for genetic changes, or mutations, which are linked to disease. These tests are done before you show any signs of a disease. Predictive testing may be useful to people who have a family history of a treatable genetic disorder, show no signs of illness owing to these benefits the segment is anticipated to grow at a significant rate during the forecast period.
Major factors boosting the growth of market include rising prevalence of the genetic diseases and rise in awareness & acceptance of personalized medicines. However, social and ethical implications of genetic testing is hampering growth of the market to a certain extent.
The Genetic Testing Services Market sample report includes an exclusive analysis of COVID-19 pandemic on the market space under scrutiny. The sample represents the format of the overall study which is designed to provide clarity on the structure of the report and some data points demonstrated in an attempt to provide insights into the study quality.
Furthermore, the Genetic Testing Services Market full research study is designed on account of the fact that each segment is individually assessed and then collated to form the whole market, the study can be tailor-made to fit your exact requirements.
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The Prominent/Emerging Players in the Genetic Testing Services Market Research include:
- Laboratory Corporation of America Holdings
- F. Hoffmann-La Roche Ltd.
- Illumina, Inc.
- Quest Diagnostics Incorporated
- Exact Sciences Corporation
- NeoGenomics Laboratories, Inc.
- Eurofins Scientific
- Ambry Genetics
- Centogene AG
- 23andMe, Inc.
The structure of the Genetic Testing Services Market report can be categorized into following sections:
Section 1: Scope of the Report & Research Methodology
Section 2: Key Takeaways
Section 3: Market variables & their impact on growth and analytical tools providing High Level Insights into the Market Dynamics and Growth Pattern
Section 4: Market Estimates and Forecasts (with the base year as 2019, historic information of 2016 & 2018 and forecast from 2020 to 2027). Regional and Country Level Estimates and Forecasts for each category which are summed up to form the Global Market.
Section 5: Competitive Landscape. Attributes such as Strategy Framework, Competitor Categorization are included to provide elaborate details on the Market Structure & Strategic Undertakings as well as their impact.
Overall company/segment revenue for the year 2019, 2018, and 2017 is provided in the sub title “Financial Performance” (public listed companies) along with the analysis and explanation of the increase or decrease in the same due to factors such as mergers & acquisition, profit or loss in any strategic business unit (SBUs) and others.
Product benchmarking comprises the comprehensive list of products pertaining to the respective market along with the application and key features.
Insights pertaining to the new product launch, strategic collaboration, mergers and acquisition, regulatory approval, and other developments by the company in market are covered under strategic initiatives section.
The Genetic Testing Services Market research study is designed keeping in focus all the major countries. Although, all these countries & their market trends were accounted for while composing it, detailed sections are available for only the spearheads. In case if you would be interested in specific countries which are not covered in the current scope, kindly share the list & we can customize the study based on the geographical scope defined by you.
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