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Global Genetic Testing Market Analysis
As the foundation of providing superior healthcare lies in diagnosis, genetic testing represents a highly attractive segment in molecular diagnostics market. Genetic testing is a sophisticated form of medical testing for identification of slightest alteration in chromosomes, genes, or proteins that are associated with inherited disorders. The outcome of such tests can confirm or even rule out a suspected genetic condition and help the physician with greater precision towards determining a person’s chance of developing or passing on a genetic disorder. Several hundred genetic tests are currently in use, and more are being developed.
The global genetic testing market is presently in a strong growth trajectory, mainly backed by factors like aging population, increasing incidences for genetic disorders, and rising awareness. In 2010, the genetic testing market worldwide stood at around an estimated mark of US$ 1.5 Billion, which is anticipated to reach at US$ 4 Billion by 2015. Particularly, genetic testing for cancer is likely to emerge as one of the fastest growing segments as private sector and scientific community are actively participating in the oncology-specific areas.
Currently, direct-to-consumer (DTC) genetic testing is the buzz word in market. Companies including deCODE and 23andme have profound effect on the market. The segment is characterized by a sudden inflow of players prompting the healthcare authorities to spark debate on the subject. Our report provides an effective insight into the landscape of DTC genetic tests sector and discusses about the key issues related to the private players and regulatory oversight.
The report, “Global Genetic Testing Market Analysis”, entails key aspects of the global genetic testing market and provides a quantitative analysis of market size and key drivers. It also focuses on key geographies that includes the US, Europe, and Korea. The report also provides information on the state of genetic testing market and ongoing developments in these countries along with state of awareness of general population. Moreover, a prudent analysis on the availability of gene tests for key diseases has also been discussed in the report. Overall, the report is meant to depict a clear and in-depth insight into the genetic testing market that would facilitate the clients to get acquainted with all the necessary information.