- Growing number of tests to help to treat and manage individual health conditions Is anticipated drive the market for predictive genetic testing over the study period.
- Numerous methods are practiced nowadays used for predictive genetic testing, the selection of test is purely dependent on the type of irregularity.
- The major factors driving the growth of predictive genetic testing market is an increasing prevalence of cancer and genetic disorders coupled with growing awareness about personalized medicine.
Predictive genetic testing is used to detect genetic diseases such as Huntington’s diseases, cancer, and neuro-degenerative diseases. Predictive genetic testing identifies specific gene alteration, DNA analysis and genetic material. A growing number of tests to help treat and manage individual health conditions is anticipated to drive the market for predictive genetic testing over the study period.
Numerous methods are currently practiced for predictive genetic testing; the selection of test is purely dependent on the type of irregularity. Prenatal and genomic testing are the main types of technology used to detect anomalies in the DNA sequence, protein structure and chromosome structure. A sharp trend in utilization of predictive genetic testing for diagnosis and treatment of rare diseases and genetic anomalies has been observed, driving growth of the predictive genetic testing market. The screening of cancer and genetic abnormalities involves the use of fluorescence in situ hybridization, Comparative genomic hybridization and Karyotyping are indirectly propelling demand for the predictive genetic market
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Emerging demand for predictive genetic testing is largely arising from the increased awareness of the people towards cardiac care. The major factors driving the growth of predictive genetic testing market is an increasing prevalence of cancer and genetic disorders coupled with growing awareness about personalized medicine. The continuously growing adoption pf genetic testing and advancement in genetic testing technique is driving demand for the predictive genetic testing market.
Moreover, the growing adoption of diagnostic test based on the genetic makeup of the cell, and detailed diagnosis also increases the probabilities for adopting Predictive genetic testing techniques consequently increasing demand for Predictive genetic testing. Rapidly developing medical care technologies and inventions are key factors in early detection of genetic disorders. However, stringent regulatory guidelines for instruments used in Predictive genetic testing coupled with limited awareness about genetic testing is expected to restrain growth of the Predictive genetic testing market.
The global Predictive genetic testing market is segmented on the basis of Test type, technology, Application, and Geography:
Predictive genetic testing market Segmentation by Test Type: Predictive Testing, Predictive Diagnostics, Genetic Susceptibility Test, Population Screening, Wellness Genomic testing, Skin & Metabolism Genetics, Nutria Genetics, and Others.
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Predictive genetic testing market Segmentation by Technology: Professional and DTC. Predictive genetic testing market Segmentation by Application: Consumer Genomics, Colon Cancer, Cardiovascular screening, Breast & Ovarian Cancer, Parkinsonism / Alzheimer’s Disease, Diabetic Screening & Monitoring, Prostate cancer, Orthopedic & Musculoskeletal, and Others
The global predictive genetic testing market is largely consolidated, due to the presence of large key players in the market. The significant competitive strength of the existing players in the evolving landscape of the global predictive genetic testing market is anticipated to offer new prospects in widening the application of the predictive genetic testing, substantially driving predictive genetic testing market growth.
The key manufacturers of the predictive genetic testing are greatly concentrated on the technical
edification of the end users to improve consumer outcomes. Furthermore, the adoption of advanced predictive genetic testing services is expected to create lucrative growth opportunities for the service and third-party market competitors. Growing inclination toward trend in ‘prediction is prevention’ is expected to offer growth opportunity for the predictive genetic testing market. Selection of treatment regimen with predictive genetic testing is projected to aid capturing higher market share.
Geographically, the global predictive genetic testing market is segmented into seven key regions: North America, Latin America, Europe, South Asia, East Asia Oceania and Middle East & Africa. North America is prominent region in the predictive genetic testing market. Advancement in genetic care facilities, higher adoption to lifestyle changes, increase awareness about genetic disease, increase in preventative care and favorable government policies have improved the regulatory scenario for predictive genetic testing devices in North America. Additionally in the Asia Pacific region considerably higher market growth rate is expected due to constantly rising population and higher incidence of genetic abnormalities, relatively affecting the predictive genetic testing market.
Some of the major players competing in the global predictive genetic testing market are Myriad Genetics Inc., Abbott Laboratories, Illumina Inc., Genesis Genetics, Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Agilent Technologies, F. Hoffmann-La Roche Ltd., Counsyl Inc., ARUP Laboratories, and BGI, among others.
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