(Health-NewsWire.Net, December 22, 2016 ) According to the report Genetic Testing Market, published by Market Data Forecast, the global market is projected to reach USD 59.01 Million by 2020, at a CAGR of 9.51% from 2015 to 2020.
For full report refer to http://www.marketdataforecast.com/market-reports/global-genetic-testing-market-36/
Genetic testing is the most rapidly escalating segment of the molecular diagnostics market worldwide. It is a medical test that identifies changes in genes, chromosomes, or proteins. Through genetic testing, a professional can confirm or rule out a suspected genetic condition or help determine a persons chance of developing or passing on a genetic disorder. Currently, more than 1,000 genetic tests are in use, and more are in development phase.
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Screening for genetic disorders remains to be of fundamental importance in view of the increasing awareness on the importance of predictive and prognostic screening, like maternal screening. The business for screening the new-borns, diagnosing rare and terminal disorders, and predicting the likelihood of occurrence of diseases is showing great potential to expand. Predominantly, genetic tests to screen the new-borns are expected to expand enormously over the coming few years. However, high charges accompanying the tests and lack of reliable or trustworthy standard procedure has led to serious concerns among individuals. And, with the rising demand for genetic testing, the counsellors are struggling to keep up with the demand, and consumers are faced with unanticipated and lengthy wait times. These factors hindering the growth are posed as short-term challenges for global genetic testing market
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The global testing market is segmented as following:
Based on Type: Carrier Testing Diagnostic Testing Prenatal Testing Neonatal Testing Based on Application: Cancer Testing Prenatal Testing Pharmacogenomics Testing Predisposition Testing Geographical Segmentation: North America Genetic Testing Market Europe Genetic Testing Market Asia-Pacific Genetic Testing Market Latin America Genetic Testing Market Middle East and Africa Genetic Testing Market The major companies operating in the global Genetic Testing market include, Roche Molecular Diagnostics Inc. (Switzerland), Abbott Molecular Inc. (U.S.), AutoGenomics Inc. (U.S.), Celera Group (U.S.), ELITech Group (France), BioRad Laboratories (U.S.), PerkinElmer Inc. (U.S.), Roche Diagnostics Corp.(Switzerland), Quest Diagnostics Inc. (U.S.), Transgenomic Inc.(U.S.) and Applied Biosystems Inc. (U.S.),
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The Genetic Testing Market study offers the following deliverables: Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analysing the level of competition and business strategy development A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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