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Data Bridge Market Research conducted an extensive qualitative study focusing on the “Genetic Testing Market“. The Genetic Testing report is developed by focusing on the market conditions and market trends depending upon the customer’s requirement. The report presents you with genuine information and data on transforming the market landscape, alongside an exhaustive focused investigation, The Genetic Testing report additionally provides organization profiles and contact information of the key market players in the key players section.
The global genetic testing market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 15.3% in the forecast period of 2022 to 2029 and is expected to reach USD 44,892.91 million by 2029 from USD 14,587.03 million in 2021.
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The data and investigation canvassed in this report bring into light the types of customers, their perspectives about the product, their purchasing intentions, and their thoughts on the progression of a product. The Genetic Testing report assists in determining and optimizing each stage in the lifecycle of an industrial process that includes engagements, acquisition, retention, and monetization.
Drivers:
- Growing prevalence of genetic diseases
Genetic disorders may cause such severe health problems that they are incompatible with life. In the most severe cases, these conditions may cause a miscarriage of an affected embryo or fetus. The rising prevalence of genetic diseases and birth defects boosts the demand for genetic testing
As per the article, genetic disorders and congenital abnormalities: strategies for reducing the burden in the region, 2022,
- Genetic disorders and congenital abnormalities occur in about 2%-5% of all live births, which accounts for up to 30% of pediatric hospital admissions and cause about 50% of childhood deaths in industrialized countries
Therefore, this is raising the demand for the genetic testing market.
- Increase In The Adoption Of Next Generation Sequencing
As genomics-focused pharmacology continues to play a greater role in the treatment of various chronic diseases, especially cancer, next-generation sequencing (NGS) is evolving as a powerful tool for providing a deeper and more precise insight into the molecular underpinnings of individual tumors and specific receptors.
Data Bridge Market Research: Empowering Strategic Decision-making in the Genetic Testing Market
In today’s dynamic business landscape, strategic decision-making is crucial for organizations operating in the Genetic Testing market. To navigate the complexities of this market, businesses require reliable insights and comprehensive analysis. This is where Data Bridge Market Research comes in, playing a pivotal role in empowering strategic decision-making processes.
Data Bridge Market Research is a leading market research firm, renowned for its expertise in providing actionable intelligence and industry-leading solutions. With a deep understanding of the Genetic Testing market, Data Bridge equips businesses with the necessary tools to make informed decisions that drive growth and profitability.
Noteworthy Players Operating at Regional and Global Levels:
Thermo Fisher Scientific Inc., Invitae Corporation, Bio-Rad Laboratories, Inc., PerkinElmer Inc., Illumina, Inc., QIAGEN, F. Hoffmann-La Roche Ltd., Fulgent Genetics, Myriad Genetics, Inc., Abbott, Eurofins Scientific, Sorenson Genomics, BIO-HELIX, Biocartis, Cepheid (A subsidiary of Danaher), PacBio, ELITechGroup, Genes2Me, Eugene Labs, Otogenetics, Mapmygenome, MedGenome, BioReference, Sema4 OpCo, Inc., Natera, Inc. among others
Market Segmentation of Genetic Testing Market:
By Type (Carrier Testing, Diagnostic Testing, Prenatal Testing, New Born Screening, Predictive And Presymptomatic Testing, Other Types), Technology (DNA Sequencing (NGS-Based Testing), Polymerase Chain Reaction, Microarrays, Whole Genome Sequencing, Fluorescence In Situ Hybridization (FISH), Others), Diseases (Rare Genetic Disorder, Cancer, Cystic Fibrosis, Sickle Cell Anemia, Duchenne Muscular Dystrophy, Thalassemia, Huntington’s Disease, Fragile X Syndrome, Duchenne Muscular Dystrophy, Others) End User (Hospitals, Clinics, Diagnostic Centres, Private Clinics, Laboratory Service Providers, Private Laboratories)
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