Increasing reproductive genetic health space will boost the hereditary testing market, forecast to touch US$ 8.1 Bn by 2025 at a CAGR of 6.9%
Noida, Uttar Pradesh, India, March 3 2021 (Wiredrelease) Report Ocean Pvt Ltd –:Global Hereditary Testing Market is estimated to see healthy growth, pegged at a CAGR of ~6.9 during the forecast period 2020-2025. The increasing reproductive genetic health space is one of the critical market drivers for hereditary testing growth. Important players, such as Natera, have reported a constant increase in test volumes in women’s health hereditary testing for inherited conditions. This reflects the growing hereditary tests acceptance among the population, thereby accelerating global revenue growth.
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Furthermore, a steady rise in demand for newborn screening has led to an increase in DNA testing kits’ sales. For instance, in November 2019, the Division of Consolidated Laboratory Services (DCLS) of the Virginia Department of General Services screened 7,868 newborns for almost 31 hereditary and metabolic disorders. Increasing newborn screening penetration worldwide is further aiding in revenue growth.
In clinical practice, reforms in hereditary testing guidelines have led to multigene panel testing for hereditary cancer. The National Comprehensive Cancer Network (NCCN) Clinical Practice Guidelines in Oncology (NCCN Guidelines) for ovarian, breast, and colorectal cancers offer information on some of the cancer risk factors and management recommendations for single and multiple gene panels.
Gradual developments in the distribution model are probable to benefit the hereditary testing market. Technology providers play a vital role in the market growth by improving their distribution service and increasing overall technology efficiency. Businesses are using a cloud-based distribution model to make effective use of bioinformatics technology by other laboratories. As of March 2019, around 14 licensees used constellation software commercially to market Non-invasive Prenatal Testing (NIPT) products.
Although these hereditary tests have tremendous advantages over conventional tests, several industry experts cited consumers’ cost and security concerns about the test. Besides, the lack of effective regulation of the tests is another critical area that demands focused efforts. Despite these challenges, the hereditary testing market is continuously expanding due to these innovative tests’ advantages and improved healthcare outcomes.
Segmentation Overview of the Global Hereditary Testing Market
The hereditary testing market has been segmented into Disease Type. These major market segments are further categorized into various sub-segments to study the market in detail.
By Disease Type Outlook
Hereditary Cancer Testing (Lung Cancer, Breast Cancer, Colorectal Cancer, Cervical Cancer, Ovarian Cancer, Prostate Cancer, Stomach/Gastric Cancer, Melanoma, Sarcoma, Uterine Cancer, Pancreatic Cancer, Others)
Hereditary Non-cancer Testing
Genetic Tests (Cardiac Diseases, Rare Diseases, Other Diseases)
Newborn Genetic Screening
Preimplantation Genetic Diagnosis & Screening Non-invasive Prenatal Testing (NIPT) & Carrier Screening Tests
Key Players Insights
Myriad Genetics, Inc., Illumina, Inc., Natera, Inc., Invitae Corporation, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, F. Hoffmann-La Roche Ltd, CooperSurgical, Inc., Agilent Technologies, Inc., Twist Bioscience, Thermo Fisher Scientific, Inc., Sophia Genetics, Medgenome, Fulgent Genetic, Inc., and CENTOGENE N.V., among others, are the leading manufacturers in the global hereditary testing market.
Furthermore, the companies focused on expanding product range is indicative of growing competition worldwide. These companies are also making efforts to offer products with competitive benefits. For instance, cross-selling efforts by Natera assisted the company in witnessing lucrative revenue generation over the past few years. The company endorses collective Horizon and Panorama products for women who have not undergone carrier screening tests in their first trimester. Such factors will create opportunities to increase the market size of hereditary testing in the coming years.
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