Global Predictive Genetic Testing Market: Full Year 2019 Results | Estimated To Be Worth USD 3,800 Million In 2020 And Is Projected To Reach USD 27,120 Million By 2027
Proficient Market delivers key insights on the Global Predictive Genetic Testing Market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2019 –2027.
According to the report, Global Predictive Genetic Testing Market in 2020 stood at USD 3,800 million and is expected to reach USD 27,120 million by 2027 growing at a CAGR of 13.9% from 2020 to 2027.
Predictive genetic testing is majorly implemented on next-generation sequencing (NGS) platforms and is used to predict future risks by providing information on an individual’s chromosomes and genetic mutations. It is widely used in clinical practices and translational research for predicting the risk of diseases such as neurodegenerative diseases and cancer. Common disorders include Huntington’s disease, cystic fibrosis, phenylketonuria, Down’s syndrome, breast cancer, and sickle cell anemia.
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Predictive Genetic Testing Market Key Players: The research study includes profiles of leading companies operating in the global predictive genetic testing market. Key players profiled in the report include:
Biocartis Group NV
Bio-Helix Co. Ltd.
Genomic Health Inc.
HTG Molecular Diagnostics Inc.
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In July 2018, 23andMe Inc. entered into collaboration with GlaxoSmithKline plc. in order to discover novel targets for elucidation of disease progression pathways and develop therapies for disease eradication.
Drivers for the Global Predictive Genetic Testing Market: Growing automation in sequencing methodologies, along with introduction of efficient and rapid genomic sequencing procedures, is anticipated to boost advances in predictive genetic tests based on the NGS principle. Moreover, higher penetration of outsourcing has resulted in the emergence of several companies that are engaged in providing ‘sequencing-as-a-service’ or range of sample-to-insight services.
Opportunities for the Global Predictive Genetic Testing Market: Technological advancements in genetic testing will propel the global market demand in the forecast timeframe. Further, increased R&D efforts enable fast and cost-effective sequencing of DNA.
Region Wise, Global Predictive Genetic Testing Market Analysis: North America dominated the market by revenue owing to presence of several players based in U.S. Additionally, high awareness level, prevalence of chronic diseases, and high adoption of new technologies makes North America as maximum shareholder of the market in terms of regional analysis. However, Asia Pacific is anticipated to grow at a significant rate due to the growing population, rise in disposable income, increasing demand for genetic testing, prevalence of unhealthy lifestyles, and mounting government intervention in the development of health care infrastructure.
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Global Predictive Genetic Testing Market: Product analysis
On the basis of type, Predictive Testing accounted for largest share of total revenue generated. This is attributable to the growth in consciousness among people regarding health and increase in incidences of mortality rate due to the genetic diseases across the world.
Global Predictive Genetic Testing Market: Application analysis
Breast and Ovarian Cancer
Diabetic Screening and Monitoring
The demand of Global Predictive Genetic Testing Market is highest from Breast and Ovarian Cancer. This is because of the increasing incidence of breast cancer globally and initiatives taken by governmental organizations to reduce morbidity rate caused by breast cancer.
Global Predictive Genetic Testing Market: Region analysis
North America: U.S., Canada, Mexico
Europe: U.K., France, Germany, Spain, Italy, Rest of Europe
Asia Pacific: China, Japan, South Korea, ASEAN, India
Rest of Asia Pacific: Latin America, Brazil, Argentina, Colombia, Rest of L.A.
Middle East and Africa: Turkey, GCC, UAE, South Africa, Rest of Middle East
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