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North-America Genetic Testing Markets, 2019-2024: Growing Demand for Personalized Medicine & Increasing Application of Genetic Testing in Oncology

DRUCKEN

DUBLIN, March 25, 2019 /PRNewswire/ -- The "North-America Genetic Testing Market- Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The major factors, such as emphasis on early disease detection and prevention, growing demand for personalized medicine, increasing application of genetic testing in oncology, and large demand for direct-to-customer genetic tests are expected to drive the growth of the overall market.

There are also many genetic disorders that are being detected early during pregnancy, using various invasive and non-invasive techniques. With these technological developments, physicians have become capable of performing tests with better accuracy and looking at multiple genes at a time. Consumer demand for safe and effective genetic tests is fueling the growth of this market. Additionally, growing demand for personalized medicine and increasing application of genetic testing in oncology are also resulting in the growth of the North American genetic testing market.

There is also an increase in awareness among the individuals about the benefits and the potentiality of genetic testing to identify and cure diseases or abnormalities, which is the main reason for the growth genetic testing market.

In addition, increase in aging population, advancements of technology in the genetic testing space, subsequent increase in the cases of chronic diseases, and rising cancer case incidences are the few other factors aiding the growth of the North American genetic testing market.

Scope of the Report

As per the scope of this report, a genetic test is performed to identify the presence of a gene with a particular sequence in the genome. The gene can be either identified directly through sequencing or it can be identified indirectly through various methods. These genetic tests are carried out to assess the risk of an individual developing a certain disease.

Key Market Trends

Predictive and Presymptomatic Testing is the Largest Segment by Type that is Expected to Grow During the Forecast Period

Predictive and pre-symptomatic testing is utilized for the detection of gene mutations that are related to disorders appearing after birth, frequently in later stages of life. Such tests can be of assistance to individuals having a family member with a genetic disorder, though they are free from any features of the disorder while testing. Predictive testing can aid in the identification of mutations that can increase an individual's possibilities of developing disorders, as in the case of specific cancers.

Thus the rising incidences of cancer and growing awareness about the diseases are expected to lead to more such tests, which in turn, is expected to drive the market.

Competitive Landscape

Growing genetic disease incidences unravel new opportunities for genetic testing and its related applications. The transformation of genetic testing from being a service-driven market to a product-driven market is anticipated to provide a push to the diagnostic companies for the expansion of their operations.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 Emphasis on Early Disease Detection and Prevention
4.2.2 Growing Demand for Personalized Medicine
4.2.3 Increasing Application of Genetic Testing in Oncology
4.2.4 Large Demand for Direct-to-customer Genetic Tests
4.3 Market Restraints
4.3.1 High Costs of Genetic Testing
4.3.2 Potentially Adverse Personal or Societal Consequences
4.3.3 FDA Strictly Regulates Laboratory Developed Tests (LDTs)
4.4 Porter's Five Forces Analysis

5 Market Segmentation
5.1 By Type
5.1.1 Carrier Testing
5.1.2 Diagnostic Testing
5.1.3 Newborn Screening
5.1.4 Predictive and Presymptomatic Testing
5.1.5 Prenatal Testing
5.1.6 Other Types
5.2 By Diseases
5.2.1 Alzheimer's Diseases
5.2.2 Cancer
5.2.3 Cystic Fibrosis
5.2.4 Sickle Cell Anemia
5.2.5 Duchenne Muscular Dystrophy
5.2.6 Thalassemias
5.2.7 Huntington's Disease
5.2.8 Special Diseases
5.2.9 Other Diseases
5.3 By Technology
5.3.1 Cytogenetic Testing
5.3.2 Biochemical Testing
5.3.3 Molecular Testing
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico

6 Competitive Landscape
6.1 Company Profiles
6.1.1 23&Me Inc.
6.1.2 Abbott Laboratories
6.1.3 Ariosa Diagnostics Inc.
6.1.4 Cepheid Inc.
6.1.5 Illumina Inc.
6.1.6 Luminex Corporation
6.1.7 Biorad Laboratories Inc.
6.1.8 PerkinElmer Inc.
6.1.9 Quest Diagnostics Incorporated
6.1.10 F. Hoffmann-La Roche Ltd

7 Market Opportunities and Future Trends

For more information about this report visit https://www.researchandmarkets.com/research/3pv46g/northamerica?w=5

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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Cision View original content:http://www.prnewswire.com/news-releases/north-america-genetic-testing-markets-2019-2024-growing-demand-for-personalized-medicine--increasing-application-of-genetic-testing-in-oncology-300817113.html

SOURCE Research and Markets

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