Growing Incidence of Genetic Disorders and Genetically Predisposed Diseases Drives the Global Market for Genetic Testing
Published: May 2017
- Code: MCP-1392
- Pages: 408
- Tables: 60
- Companies: 88
GENETIC TESTING: A RESEARCH BRIEF
The global market for Genetic Testing is projected to reach US$10.3 billion by 2024, driven by the aging population, rising incidence of genetically predisposed and hereditary diseases, growing awareness, technological advances and increasing success of direct-to-consumer (DTC) genetic testing. With the advent of advanced DNA analysis, the scope of genetic testing has expanded to embrace new application areas. The rise of personalized medicine and growing R&D budgets among pharma majors to accelerate pipeline output of personalized medicines will drive demand for genome sequencing technologies. The United States represents the largest market worldwide supported by robust investments in biomedical and life sciences research, launch of several advanced tests, higher awareness over unmet therapeutic needs and better reimbursement scenario. Asia-Pacific ranks as the fastest growing market with a CAGR of 17.8% through the analysis period, led by growing population and healthcare burden; developing healthcare system especially clinical diagnostic infrastructure; and growing incidence of cancer and other genetic disorders due to demographic/lifestyle changes, modern living conditions and complex interplay of environmental factors and susceptible genes.
- The Rise of Clinical Genome Sequencing and the Resulting Elimination of Diagnostic Barriers Hitherto Besetting Patients with Rare Genetic Disorders to Benefit Market Growth
- Increasing Incidence of Neurodegeneration Diseases such as Alzheimerís, Huntingtonís and Parkinsonís to Spur Interest in Genetic Testing
- Pediatric Genetic Testing for Screening Adult Onset Disorders Gains Rapid Acceptance
- Government Initiatives to Improve Healthcare Delivery to All Sections of the Population to Propel Demand for Genetic Testing
- Unresolved Issues Hamper Widespread Implementation of Genetic Diagnosis and Testing for Monogenetic Diseases
Summary of Findings
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Timeline for Analysis
- US, Canada, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific, and Rest of World
Geographic Markets Analyzed
- Prenatal & Newborn Genetic Testing, Pharmacogenomic Testing, and Predictive Diagnostics
Market Segmentation & Classification
- 23andMe, Inc.
- Abbott Laboratories
- AutoGenomics, Inc.
- Biocartis NV
- BioRad Laboratories
- Cepheid Inc.
- ELITech Group S.P.A
- Illumina, Inc.
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable