{"id":49491,"date":"2022-10-11T17:01:49","date_gmt":"2022-10-11T15:01:49","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/genetic-testing-global-market-research-report-2022-featuring-major-players-abbott-laboratories-bio-rad-laboratories-eurofins-scientific-f-hoffmann-la-roche-illumina-researchandmarkets-com\/"},"modified":"2022-10-11T17:01:49","modified_gmt":"2022-10-11T15:01:49","slug":"genetic-testing-global-market-research-report-2022-featuring-major-players-abbott-laboratories-bio-rad-laboratories-eurofins-scientific-f-hoffmann-la-roche-illumina-researchandmarkets-com","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/genetic-testing-global-market-research-report-2022-featuring-major-players-abbott-laboratories-bio-rad-laboratories-eurofins-scientific-f-hoffmann-la-roche-illumina-researchandmarkets-com\/","title":{"rendered":"Genetic Testing Global Market Research Report 2022 Featuring Major Players – Abbott Laboratories, Bio-Rad Laboratories, Eurofins Scientific, F. Hoffmann-La Roche, & Illumina – ResearchAndMarkets.com"},"content":{"rendered":"
\n

DUBLIN–(BUSINESS WIRE)–The “Genetic Testing Global Market Report 2022”<\/a> report has been added to ResearchAndMarkets.com’s<\/strong> offering.\n<\/p>\n

<\/a><\/p>\n

\nThe global genetic testing market is expected to grow from $13.72 billion in 2021 to $15.36 billion in 2022 at a compound annual growth rate (CAGR) of 12%. The genetic testing market is expected to grow to $22.91 billion in 2026 at a CAGR of 10.5%.\n<\/p>\n

\nThe genetic testing market consists of the sale of genetic testing services by entities (organizations, partnerships, and sole proprietors) that are used to confirm specific genetic disorders in children and their conditions based on physical signs and symptoms. Genetic testing refers to a sort of medical examination that looks for alterations in genes, proteins, or chromosomes. A genetic test’s results can identify a genetic ailment, as well as determine a person’s risk of developing a genetic disorder.\n<\/p>\n

\nThe main types of genetic testing are predictive testing, carrier testing, prenatal and newborn testing, diagnostic testing, pharmacogenomic testing, nutrigenomic testing, and other types. The predictive tests are part of a new and rapidly expanding class of medical tests that are fundamentally different from traditional medical diagnostic examinations.\n<\/p>\n

\nThe various technologies involved are cytogenetic testing, biochemical testing, and molecular testing and are used for different diseases such as Alzheimer’s disease, cancer, cystic fibrosis, sickle cell anemia, Duchenne muscular dystrophy, thalassemia, Huntington’s disease, rare diseases, and other diseases. It is used in several applications, such as cancer diagnosis, genetic disease diagnosis, cardiovascular disease diagnosis, and others.\n<\/p>\n

\nNorth America was the largest region in the genetic testing market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genetic testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.\n<\/p>\n

\nThe rising prevalence of genetic disorders is expected to propel the growth of the genetic testing market going forward. Genetic disorders refer to some diseases that cause symptoms at birth, while others develop over time. Genetic testing can help get a diagnosis for a genetic issue and information about the chances of developing cancer.\n<\/p>\n

\nFor instance, in November 2021, according to National Center for Biotechnology Information, a US-based medical organization, genetic illnesses were found in 9.4 %of pediatric patients, with 44.7% of these patients being critically ill newborns. Also, 13.17 million patients were suffering from unique genetic disorders in the US. Therefore, the rising prevalence of genetic disorders is driving the genetic testing market.\n<\/p>\n

\nTechnological advancement is a crucial trend gaining popularity in the genetic testing market. Major companies operating in the genetic testing market are focused on developing technology to sustain their position in the market. For instance, in December 2020, Cell ID Pte. Ltd., a Singapore-based company that manufactures, genetic testing products launched a portable genetic test for COVID-19 named Quiz PCR Biochip.\n<\/p>\n

\nThis is a portable palm-sized moveable genetic test kit that utilizes an app to confirm if a person has COVID-19. This device also had a QR code for tracking. This device works on pooled screening technology. This can be easily moveable and can take tests anywhere at any time.\n<\/p>\n

\nIn January 2022, Exact Sciences, a US-based molecular diagnostics company that manufactures genetic testing products acquired Prevention Genetics for a deal amount of $190 million. As a result of this acquisition, Exact Sciences aims to increase hereditary cancer testing for more patients. Prevention Genetics is a US-based company that manufactures clinical DNA (genetic) tests for genetic germline (inherited) illnesses.\n<\/p>\n

\nThe countries covered in the genetic testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.\n<\/p>\n

\nMajor players in the genetic testing market are<\/strong>\n<\/p>\n