Scienza e Tecnologia
Genetic Testing Market to Reach $21.26 Bn, Globally, by 2027 at 10.1% CAGR: Allied Market Research
https://www.alliedmarketresearch.com/request-for-customization/5241?reqfor=covid
Increase in incidences of genetic disorders and cancer, surge in awareness & acceptance of personalized medicines, and advancements in genetic testing techniques fuel the growth of the global genetic testing market. On the other hand, standardization concerns of genetic testing-based diagnostics and stringent regulatory requirements for product approvals impede the growth to some extent. However, untapped emerging markets in developing countries is expected to create multiple opportunities for the key players in the industry.
Based on type, the prenatal and newborn testing segment accounted for nearly one-third of the global genetic testing market revenue in 2019 and is expected to maintain the lion's share till 2027. The surge in awareness towards newborn testing and rise in government intervention in newborn testing are the major factors driving the segment growth. Conversely, the pharmacogenomic testing segment would grow at the fastest CAGR of 14.1% throughout the forecast period, due to increase in application in use of personalized medicine across the globe.
https://www.alliedmarketresearch.com/purchase-enquiry/5241
Based on technology, the molecular segment contributed to nearly three-fifths of the global genetic testing market share in 2019 and is projected to lead the trail by the end of 2027. The fact that molecular testing is the most used technology for genetic testing drives the segment growth. Simultaneously, the biochemical segment would portray the fastest CAGR of 11.5% from 2021 to 2027. This is attributed to surge in awareness related to early screening of biochemical genetic diseases which are present at birth and disrupt a key metabolic pathway.
Based on region, North America garnered the major share in 2019, holding nearly two-fifths of the global genetic testing market, owing to presence of majority of key players, superior regulatory framework for genetic testing, rise in geriatric population along with increase in prevalence of chronic diseases. At the same time, Asia-Pacific would manifest the fastest CAGR of 12.5% during the forecast period. This is due to the factors such as surge in awareness associated with genetic testing, and rise in healthcare expenditure.
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
https://www.alliedmarketresearch.com/avenue/trial/starter
https://www.alliedmarketresearch.com/library-access
Next Generation Sequencing (NGS) Market - Global Opportunity Analysis and Industry Forecast, 2020–2027
Cancer Gene Therapy Market - Global Opportunity Analysis and Industry Forecast, 2019-2027
Gene Therapy Market - Global Opportunity Analysis and Industry Forecast, 2019-2027
Smart Inhalers Market - Global Opportunity Analysis and Industry Forecast, 2019–2026
Generic Drugs Market - Global Opportunity Analysis and Industry Forecast, 2019–2027
Gene expression Market - Global Opportunity Analysis and Industry Forecast, 2019–2027
Genetic Testing Market - Global Opportunity Analysis and Industry Forecast, 2019–2027
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA / Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India ( Pune ): +91-20-66346060
+1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn https://www.linkedin.com/company/allied-market-research
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg