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Genetic Testing Market Outlook 2020
The term ‘Genetic Testing’ refers to tests performed on DNA and RNA samples collected from patients. The so called ‘predictive tests’ give scientists and medical professionals vital clues to how an individual may develop a disease. These innovative tests can assess the risk of onset of a specific disease (genetic) based on the mutated genetic code even before the disease is symptomatic. Today, Genetic Testing is entitled as one of the fastest evolving segments of the molecular diagnostics market. Supported by factors such as growing incidences of chronic diseases, surging awareness for chromosomal abnormalities among pregnant women, and intensive R&D expenditures, the market for genetic testing is showing an impressive growth worldwide.
RNCOS’ analysts have predicted that the Global Genetic Testing market will grow at a CAGR of 10% during the forecasted period 2014-2020. The new edition of the report “Genetic Testing Market Outlook 2020”, highlights the market landscape, key contributing drivers of the market, emerging sectors, and the regulatory framework surrounding the genetic testing segment. The report is an outcome of an in-depth market analysis by our team of analysts. It also covers the application aspect of genetic tests in several therapeutic areas, as well as the list of genetic tests available in the market.
The research effectively illustrates the growth of Genetic Testing in both developed and developing countries. There is a comprehensive analytics too of key developments in major markets including the US, Europe and Asian countries. A country level analysis depicts the level of penetration of genetic testing, types of tests available, consumer perspectives, and future growth.
Key vendors influencing the industry include Abbott, Roche, Siemens, Illumina, Thermo Fischer Scientific, and Myriad Genetics among others. The report analyzes a competitive landscape of the market by properly analyzing the business, services and activities of the companies along with their SWOT analysis. Overall, the latest edition provides a comprehensive overview of the global genetic testing market, which will enable clients and investors to frame a successful business strategy to enter the Billion dollar industry.