According to The Insight Partners market research titled ‘Genetic Testing Service Market to 2027 – Global Analysis and Forecasts by Type, Disease, Service Provider and Size.’ The global genetic testing service market is expected to reach US$ 22,701.8 Mn in 2027 from US$ 9,546.2 Mn in 2019. The market is projected to grow with a CAGR of 11.7% from 2020-2027. The report provides trends prevailing in the global genetic testing service market along with market drivers and restraints.
Major factors boosting the growth of market include rising prevalence of the genetic diseases and rise in awareness & acceptance of personalized medicines. However, social and ethical implications of genetic testing is hampering growth of the market to a certain extent.
The Genetic Testing Service market majorly consists of players such as Laboratory Corporation of America Holdings, F. Hoffmann-La Roche Ltd., Illumina, Inc., Quest Diagnostics Incorporated, Exact Sciences Corporation, NeoGenomics Laboratories, Inc., Eurofins Scientific, Ambry Genetics, Centogene AG, and 23andMe, Inc.
Several companies in the market are concentrating on inorganic strategies, such as partnership for enhancing their position in the market. For instance, in January, 2020, Illumina Inc. has announced partnership with Roche. The partnership was carried out to increase patient access to transformative genomic testing technology, accurately.
Global Genetic Testing Service Market – By Type
- Predictive Testing
- Carrier Testing
- Prenatal Testing
- Newborn Screening
- Others
Global Genetic Testing Service Market – By Disease
- Cancer Disease
- Metabolic Disease
- Cardiovascular Disease
- Others
Global Genetic Testing Service Market – By Service Provider
- Diagnostic Laboratories
- Hospital-Based Laboratories
- Others
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TABLE OF CONTENTS
- INTRODUCTION
- KEY TAKEAWAYS
- RESEARCH METHODOLOGY
- MARKET LANDSCAPE
- MARKET – KEY MARKET DYNAMICS
- MARKET – GLOBAL MARKET ANALYSIS
- MARKET – REVENUE AND FORECASTS TO 2028 – TYPE
- MARKET – REVENUE AND FORECASTS TO 2028 – APPLICATION
- MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
- INDUSTRY LANDSCAPE
- MARKET, KEY COMPANY PROFILES
- APPENDIX
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