Genetic Testing Market Insights, Share, Growth Drivers and Forecast by 2024

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.

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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.

The different technologies used for genetic testing include cytogenetic testing, molecular testing, and biochemical testing. Molecular testing was the most widely utilized technology used for testing and analysis of genes, and held the largest share in the global market, in 2016. This leading position of the category is mainly attributable to the increasing analysis on the biological markers in the genome and proteome studies.

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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According to the WHO, sickle cell anemia is one of the genetic disorders particularly common among people whose ancestors come from Sub-Saharan Africa, South America, Cuba, Central America, Saudi Arabia, India, and Mediterranean countries such as Turkey, Greece, and Italy. However, high cost involves in gene testing, and lack of the experienced professionals are the key factors hampering the growth of the genetic testing market.

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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  • Vijay Mishra
    published this page in Submit Content 2019-02-13 02:06:32 -0800