RNCOS, in its latest research report titled “Genetic Testing Market Outlook 2020”, Genetic testing in Asia is in nascent stage, evolving continuously particularly due to the growth of molecular biology applications, technological breakthroughs, and augmented health standards. Amongst the most common applications of genetic testing in Asia are infectious disease testing, child health and cancer risk studies. Countries such as Singapore and Japan have a well defined industry, while India and China are amongst the fastest evolving nations for genetic testing. A common trend in the Asian region is the growth of several DTC genetic tests. The market is anticipated to grow at 18.5% CAGR to become a US$ 755 Million market in next six years.
Talking of the country level advancement in genetic testing, Singapore has developed widely. There are many genetic tests available on a clinical basis. In India, while the genetic testing market was initially limited to very few organizations, the scenario now is rapidly changing with more and more laboratories owning advanced equipments and skilled expertise. Similarly, research is also being actively pursued in China on genetic predisposition in a wide number of therapeutic areas.
Holistically, the research report thoroughly discusses the global genetic testing industry in terms of the overall market size. Moreover, the disease wise and region wise analysis is also discussed in detail. Apart from the statistical data analysis highlighted above, qualitative data including the emerging sector for genetic testing industry and the government regulations are also elicited exhaustively. The competition across the global genetic testing sector is intensifying with the days passing by. With new service providers entering the market and accelerated R&D activities, the application of genetic testing and the industry as a whole, is bound to witness a swift growth in the years to come.