Global Genetic Testing Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : Healthcare Date : October 5th, 2018
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The global genetic testing market is expected to grow significantly from USD 8,531.4 million in 2017 to USD 19,112.4 million in 2024, at a CAGR of 12.2% from 2018 to 2024. The growth in the market is attributed to the increasing demand for personalized medicine, and growing incidence of genetic disorders. Moreover, increasing research and development activities, growing awareness among people, and rising government initiatives are further propelling the market growth. The years used for the assessment are as follows;

Historical year: 2014, 2015, and 2016

Base year: 2017

Forecast period: 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on the data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys, and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year Impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the total genetic testing market and its various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global genetic testing market
  • Finalizing the overall size and share of the global genetic testing market 

OBJECTIVES:

  • To analyze market trends, opportunities, drivers, and restraints associated with the global genetic testing market
  • To study market response with respect to the mergers and acquisitions in the industry
  • To profile key companies operating in the genetic testing market and provide their competitive landscape

MARKET SCOPE

The research scope for global Genetic testing market is as follows:

Testing Type

  • Diagnostic Testing
  • Predictive and Presymptomatic Testing
  • Carrier Testing
  • Prenatal Testing
  • Newborn Testing
  • Pharmacogenomics Testing
  • Research genetic Testing
  • Others

Technology

  • Biochemical Testing
  • Molecular Testing
  • ChromosomalTesting

Application

  • Genetic diseases
  • Oncology
  • Cardiovascular diseases
  • Others

Service Provider

  • Diagnostic laboratories
  • Hospital-based laboratories
  • Specialty Clinics
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central & South America
  • Middle East and Africa (MEA)

Genetic testing is used to identify mutations or changes in genes, chromosomes, and proteins.  Genetic tests are applied in the analyses of multiple genes to determine risk of various diseases, such as cancer and diabetes in early stage, which may eliminate the need for additional unnecessary clinical investigations. Moreover, there is a growing demand for genetic testing in developing countries due to increasing number of genetic disorders, and non-communicable chronic diseases such as cancer, diabetes, stroke and cardiac diseases. These non-communicable chronic diseases have subgroups with significant genetic risk components. Additionally, advancements in genetic technologies are rapidly changing the health care services in the developed and developing countries.

The growth in the genetic testing market is attributed to the increasing demand for personalized medicine, and growing incidence of genetic disorders. Moreover, increasing research and development activities, growing awareness among people, and rising government initiatives are further propelling the market growth.

Geographically, North America held the largest share of the market in 2017. The growth in the region is attributed to the growing research and development activities in genetic testing, increasing investments and the presence of major market players in the region. The growth of the genetic testing market in Europe is primarily due to advances in genomic technology, and growing awareness among people about the benefits of genetic testing. Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to the high prevalence of infectious diseases, and large pool of patients. The growth of genetic testing market in the Middle East and Africa is primarily due to high incidence of various genetic disorders, and increasing number of chronic diseases.

Some of the key companies operating in the market include NeoGenomics Laboratories, Inc., QIAGEN N.V., Genomic Health, Inc., Cepheid, Laboratory Corporation of America Holdings, Luminex Corporation, 23andMe, Inc., Quest Diagnostics Incorporated, F. Hoffmann-La Roche Ltd, Illumina, Inc, Cancer Genetics Inc. among others.

Global Genetic Testing Market

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Global Genetic Testing- Market Snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the global genetic testing market

3.4. Value chain analysis

3.5. Market opportunities & trends

3.5.1. Growing awareness among people

3.5.2. Rising government initiative

3.5.3. Increasing research and development activities

3.6. Market dynamics

3.6.1. Market driver analysis

   3.6.1.1. Increasing demand for personalized medicine

   3.6.1.2. Growing incidence of genetic disorders

   3.6.1.3. Growing application in cancer and cardiovascular diseases

3.6.2. Market restraint analysis

   3.6.2.1. High cost of tests

3.6.3. Industry Analysis-Porters five forces of analysis

CHAPTER 4. Competitive Outlook

4.1. Competitive analysis

4.2. Competitive factors

4.3. Company market share analysis

4.4. Strategies adopted

CHAPTER 5. Global Genetic Testing Market Size and Forecast (2014 – 2024)

5.1. Global Genetic Testing Market, By Testing Type (USD Million)

5.1.1. Diagnostic testing

5.1.2. Predictive testing and Presymptomatic testing

5.1.3. Carrier testing

5.1.4. Prenatal testing

5.1.5. Newborn testing

5.1.6. Pharmacogenomics testing

5.1.7. Research genetic testing

5.1.8. Others

5.2. Global Genetic Testing Market, By Technology (USD Million)

5.2.1. Biochemical Testing

5.2.2. Molecular Testing

5.2.3. Chromosomal Testing

5.3. Global Genetic Testing Market, By Application (USD Million)

5.3.1. Genetic diseases

5.3.2. Oncology

5.3.3. Cardiovascular diseases

5.3.4. Others

5.4. Global Genetic Testing Market, By Service Provider (USD Million)

5.4.1. Diagnostic laboratories

5.4.2. Hospital-based laboratories

5.4.3. Specialty Clinics

5.4.4. Others

CHAPTER 6. Global Genetic Testing Market Size and Forecast, By Geography (2014-2024)

6.1. North America Genetic Testing Market

6.1.1. North America Genetic Testing Market, By Testing Type (USD Million)

6.1.2. North America Genetic Testing Market, By Technology (USD Million)

6.1.3. North America Genetic Testing Market, By Application (USD Million)

6.1.4. North America Genetic Testing Market, By Service Provider (USD Million)

6.1.5. North America Genetic Testing Market, By Country (USD Million)

   6.1.5.1. US

   6.1.5.2. Canada

   6.1.5.3. Mexico

6.2. Europe Genetic Testing Market

6.2.1. Europe Genetic Testing Market, By Testing Type (USD Million)

6.2.2. Europe Genetic Testing Market, By Technology (USD Million)

6.2.3. Europe Genetic Testing Market, By Application (USD Million)

6.2.4. Europe Genetic Testing Market, By Service Provider (USD Million)

6.2.5. Europe Tube Market, By Country (USD Million)

   6.2.5.1. France

   6.2.5.2. Russia

   6.2.5.3. UK

   6.2.5.4. Germany

   6.2.5.5. Italy

   6.2.5.6. Rest of Europe

6.3. Asia-Pacific Genetic Testing Market

6.3.1. Asia-Pacific Genetic Testing Market, By Testing Type (USD Million)

6.3.2. Asia-Pacific Genetic Testing Market, By Technology (USD Million)

6.3.3. Asia-Pacific Genetic Testing Market, By Application (USD Million)

6.3.4. Asia-Pacific Genetic Testing Market, By Service Provider (USD Million)

6.3.5. Asia-Pacific Genetic Testing Market, By Country (USD Million)

   6.3.5.1. Japan

   6.3.5.2. Australia

   6.3.5.3. Indonesia

   6.3.5.4. China

   6.3.5.5. India

   6.3.5.6. Rest of Asia-Pacific

6.4. Central & South America Genetic Testing Market

6.4.1. Central & South America Genetic Testing Market, By Testing Type (USD Million)

6.4.2. Central & South America Genetic Testing Market, By Technology (USD Million)

6.4.3. Central & South America Genetic Testing Market, By Application (USD Million)

6.4.4. Central & South America Genetic Testing Market, By Service Provider (USD Million)

6.4.5. Central & South America Genetic Testing Market, By Country (USD Million)

    6.4.5.1. Brazil

    6.4.5.2. Rest of Central & South America

6.5. Middle East and Africa (MEA) Genetic Testing Market

6.5.1. Middle East and Africa Genetic Testing Market, By Testing Type (USD Million)

6.5.2. Middle East and Africa Genetic Testing Market, By Technology (USD Million)

6.5.3. Middle East and Africa Genetic Testing Market, By Application (USD Million)

6.5.4. Middle East and Africa Genetic Testing Market, By Service Provider (USD Million)

6.5.5. Middle East and Africa Genetic Testing Market, By Country (USD Million)

   6.5.5.1. Saudi Arabia

   6.5.5.2. South Africa

   6.5.5.3. Rest of MEA

CHAPTER 7. Key Players and Strategic Developments

7.1. NeoGenomics Laboratories, Inc.

7.1.1. Business Overview

7.1.2. Product and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. QIAGEN N.V.

7.2.1. Business Overview

7.2.2. Product and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. Genomic Health, Inc.

7.3.1. Business Overview

7.3.2. Product and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. Cepheid

7.4.1. Business Overview

7.4.2. Product and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. Laboratory Corporation of America Holdings

7.5.1. Business Overview

7.5.2. Product and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. Luminex Corporation

7.6.1. Business Overview

7.6.2. Product and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. 23andMe, Inc.

7.7.1. Business Overview

7.7.2. Product and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. Quest Diagnostics Incorporated

7.8.1. Business Overview

7.8.2. Product and Service Offering

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. F. Hoffmann-La Roche Ltd

7.9.1. Business Overview

7.9.2. Product and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. Illumina, Inc.

7.10.1. Business Overview

7.10.2. Product and Service Offering

7.10.3. Financial Overview

7.10.4. Strategic Developments

7.11. Cancer Genetics Inc

7.11.1. Business Overview

7.11.2. Product and Service Offering

7.11.3. Financial Overview

7.11.4. Strategic Developments

Global Genetic Testing Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2024