Genetic Testing Market - Global Industry Insights, Share and Demand till 022
The global genetic testing market is projected to grow considerably in the coming years, due to the growing number of test to study multiple genes that may help in managing individual health condition. Additionally, the government initiatives to spread awareness with respect to the advantages of procedure is further expected to drive the growth of the market. The market is categorized into carrier testing, diagnostic testing, new-born screening, predictive & pre-symptomatic testing, prenatal testing, based on types of gene testing. Among the various types, new born screening held the largest share in 2016, due to the growing number of newborn genetic screening programs, while carrier testing is expected to project the fastest growth in demand during the forecast period.
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The genetic testing market has been bifurcated into Alzheimer's disease, cancer, cystic fibrosis, sickle cell anaemia, Duchenne's muscular dystrophy, thalassemia, and Huntington’s disease and others, based on clinical indication. Among the various clinical indications, cancer testing occupied the largest share of the genetic testing market in 2016, owing to the increasing prevalence of cancer, and rising awareness about the early diagnosis of the diseases.
Increasing application of the gene testing in oncological research, rising incidences of genetic disorders, technological advancements and rising demand for personalized medicine are the major drivers augmenting the growth of the genetic testing industry.
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Major players in the genetic testing market are Transgenomic, Inc., GE Healthcare, 23 & Me Sequenom, Inc., Abbott Laboratories, Biocartis SA, Illumina Inc., 454 Life Sciences, Bio-Rad Laboratories, Luminex Corporation, Affymetrix Inc., Agilent Technologies Inc., Cephide Inc., Beckman Coulter Inc.
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