Genetic Testing Market Size & Share to Boom at Double-Digit CAGR During Forecast Year 2020-2030

Market Overview

Genetic tests are medical instruments that come in the form of kits or panels and are used to diagnose genetic illnesses in people. Furthermore, blood samples from patients are collected throughout the exam. These samples are then tested utilizing test kits on laboratory equipment. Measurement of the results of genetic alterations, such as RNA analysis as an output of gene expression, or biochemical analysis to quantify particular protein production, are examples of genetic testing. Numerous sorts of tests are utilized to diagnose genetic abnormalities. Predictive testing, carrier testing, prenatal and neonatal testing, diagnostic testing, pharmacogenomic testing, nutrigenomics, and other genetic tests are available to detect diseases. Newborn testing, for example, can detect genetic diseases early in life, allowing treatment to begin as soon as feasible. In addition, these tests are utilized to diagnose medical disorders such as cancer, hereditary disorders, and cardiovascular disease.

Genetic testing market: Key Players

• Abbott Laboratories

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Bio-Rad Laboratories Inc.
• Myriad Genetics, Inc. (Myriad RBM, Inc.)
• Danaher Corporation (Cepheid)
• F. Hoffmann-La Roche AG
• Eurofins Scientific
• Illumina Inc.
• Thermo Fisher Scientific
• Danaher Corporation (Cepheid Inc)
• RainDance Technologies Inc.

Growth Factor

Genetic testing for Cancer cure

According to the World Health Organization, cancer led to the deaths of 9.6 million people globally in 2018. These figures are concerning since the illness is at an all-time high, impacting the whole planet and bordering on epidemic proportions. Breast cancer, ovarian cancer, bowel cancer, womb cancer, and prostate cancer can all be diagnosed quickly thanks to genetic testing. A family history of cancer is required for genetic testing and assistance in the prevention of this devastating illness. This application sector was one of the most popular in the genetic testing market, and it is predicted to continue to develop gradually in future.

Segmentation

• By Types of Testing
  • Newborn Screening
  • Diagnostic Testing
  • Carrier Testing
  • Prenatal Testing
  • Forensic Testing
  • Predictive and Presymptomatic Testing
  • Others
• By Methods
  • Molecular Genetic Testing
  • Chromosomal Genetic Testing
  • Biochemical Genetic Testing
  • Others 
• By Testing Sample
  • Blood
  • Saliva
  • Hair
  • Tumors
  • Others 
• By Industry
  • Laboratories 
  • Blood Banks
  • Nursing Homes
  • Hospitals 
  • Others
• Genetic Testing Market Dynamics
• Genetic Testing Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Recent News Related to Market

1. The FDA extended the approval of a cancer blood test called "liquid biopsy" in November 2020, which identifies genetic changes in tumor DNA in the blood and can assist match patients to prospective therapies.
2. In August 2020, Guardant360 CDx of Guardant Health and FoundationOne Liquid CDx of Foundation Medicine were authorized by the FDA for use as a companion diagnostic test and for general tumor profiling.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

• COVID-19 pre and post business impact analysis
• Detailed overview of the parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• What is the Genetic testing market growth?
• Which segment accounted for the largest Genetic testing market share?
• Who are the key players in the Genetic testing market?
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

Note: Although care has been taken to maintain the highest levels of accuracy in Fatpos Global’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.