Global Cardiovascular Genetic Testing Market, By Disease (Inherited Cardiomyopathies, Hypertrophic Cardiomyopathy (HCM), Dilated Cardiomyopathy (DCM), Arrhythmia, Aortopathies, and Others), Technology(Cytogenetic Testing, Biochemical Testing, and Molecular Testing), Testing Type (Predictive Testing, Carrier Testing, Prenatal and Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, and Others), Application (Chromosome Analysis, Genetic Disease Diagnosis, Cardiovascular Disease Diagnosis, and Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Human genetic advances are helping to understand several hereditary cardiovascular diseases, such as cardiomyopathies, arrhythmic disorders, vascular disorders, and lipid disorders including familial hypercholesterolemia. However, not all cardiovascular specialists are completely aware of the benefits and drawbacks of incorporating genetic test results into patient and family care. This statement highlights current best practices in genetic testing and its implications for inherited cardiovascular disease care.
Data Bridge Market Research analyses that the cardiovascular genetic testing market which was USD 8722 million in 2021, would rocket up to USD 20465.21 million by 2029, and is expected to undergo a CAGR of 11.25% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Million, Volumes in Units, Pricing in USD
Disease (Inherited Cardiomyopathies, Hypertrophic Cardiomyopathy (HCM), Dilated Cardiomyopathy (DCM), Arrhythmia, Aortopathies, and Others), Technology(Cytogenetic Testing, Biochemical Testing, and Molecular Testing), Testing Type (Predictive Testing, Carrier Testing, Prenatal and Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, and Others), Application (Chromosome Analysis, Genetic Disease Diagnosis, Cardiovascular Disease Diagnosis, and Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Abbott (U.S), Bio-Rad Laboratories Inc. (U.S), Danaher (U.S), Daan Gene Co., Ltd. (Canada), F. Hoffmann-La Roche, Ltd. (Switzerland), Genentech, Inc. (U.S), Genomictree, Inc. (South Korea), HTG Molecular Diagnostics, Inc. (U.S), Illumina, Inc. (U.S), Integragen (France), Laboratory Corporation of America Holdings (U.S), Luminex Corporation (U.S), Molecular MD Corp. (U.S), Myriad Genetics, Inc. (U.S), Natera, Inc. (U.S), Oxford Biodynamics Plc (U.K), PacBio (U.S), PerkinElmer Inc. (U.S), Qiagen (Germany), Thermo Fisher Scientific, Inc. (U.S)
Cardiomyopathies, arrhythmic disorders, thoracic aortic aneurysms and dissections, and familial hypercholesterolemia (FH) are among the inherited cardiovascular diseases for which genetic testing is instructive and beneficial.
Cardiovascular Genetic Testing Market Dynamics
- Increasing demand of genetic diseases
The market's rapid rise can be ascribed to a growing focus on early disease identification and prevention and increased demand for personalised medication and the use of genetic testing in malignant disorders. Furthermore, the growing proportion of health-conscious people in developed countries is propelling this market forward. Personalized medicine provides the pharmaceutical industry with a wide range of product opportunities and contributes to their financial success. As a result, the market is predicted to expand due to rising demand for personalised treatment.
- Improving healthcare infrastructure
The global growth of the cardiovascular genetic testing market has been fueled by increasing and modernising healthcare infrastructure and an increase in the burden of chronic diseases. Furthermore, the market for genetic testing is predicted to develop due to an increase in the prevalence of genetic illnesses and increasing knowledge of genetic testing and its numerous uses in the healthcare industry.
- Technological advancements
Governments throughout the world are focusing more on regulating and spreading awareness about genetic tests, which has resulted in a faster adoption of these tests. However, new entrants face a high barrier to entry due to rising R&D spending and incumbent enterprises' strong market position. Maintaining a competitive edge in the market requires product design innovation, quality improvement, and strong distribution connections. The increased incidence of blood cancer, genetic abnormalities, cardiovascular ailments, technological advancements, and the availability of novel tests are some of the key drivers driving the global cardiovascular genetic testing market.
Key possibilities for the cardiovascular genetic testing market include an increase in the number of patients seeking genetic counseling and testing and an increase in the prevalence of infertility. People with genetic problems are diagnosed and cared for by genetic counsellors. They give genetic disease patients and their families with information and support. The advancement of information technology will influence the future growth of genetic testing services. Genetics involves a number of data analytics technologies to manage unique data. Big data enables for the integration and storage of essential genetic information. The usage of healthcare IT aids research and clinical decision-making.
A key obstacle to genetic testing is a hurdle such as strict regulation. The ongoing battle between market players and regulatory agencies over changing technology creates a difficult climate for both new and incumbent industry actors. Market constraints include the high cost of genetic testing as well as societal and ethical concerns about genetic testing.
High costs and a scarcity of qualified professionals are expected to stymie the worldwide genetic testing market's growth. Furthermore, the lack of medical remedies for all diagnosed illnesses is a major roadblock for the genetics industry. While predicting the ailments that a person is suffering from or may suffer from is simple, obtaining the proper prognosis is more difficult.
This cardiovascular genetic testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cardiovascular genetic testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Cardiovascular Genetic Testing Market
The recent COVID-19 outbreak has increased demand for cardiovascular genetic testing. Major market participants focus on delivering testing kits to hospitals, diagnostic labs, and other healthcare settings to reduce the burden of the high number of positive cases. The pandemic of COVID-19 has prompted a boom in the creation of genetic test kits. Hospitals and other healthcare facilities are under increasing pressure to care for COVID-19-infected people as illnesses rise every day. In addition, most genetic testing facilities have used virtualization and home testing kits/home sample collection to combat the spread of the SARS-CoV2 virus.
- In November 2020, the FDA expanded the approval of a cancer blood test known as "liquid biopsy," which detects genetic alterations in tumour DNA in the blood and can help match patients to appropriate treatments.
- In August 2020, the FDA authorised Guardant360 CDx and FoundationOne Liquid CDx from Guardant Health and Foundation Medicine for use as companion diagnostic tests and general tumour profiling.
Global Cardiovascular Genetic Testing Market Scope
The cardiovascular genetic testing market is segmented on the basis of type, disease and technology. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Carrier Testing
- Diagnostic Testing
- Newborn Screening
- Predictive and Pre-symptomatic Testing
- Prenatal Testing
- Other Types
- Alzheimer’s Disease
- Cystic Fibrosis
- Sickle Cell Anemia
- Duchenne Muscular Dystrophy
- Huntington’s Disease
- Special Diseases
- Other Diseases
- Cytogenetic Testing
- Biochemical Testing
- Molecular Testing
Cardiovascular Genetic Testing Market Regional Analysis/Insights
The cardiovascular genetic testing market is analysed and market size insights and trends are provided by country, type, disease and technology as referenced above.
The countries covered in the cardiovascular genetic testing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is dominating the market due to its increased use of genetic testing. This is due to a number of factors, including the presence of well-established healthcare facilities, improved knowledge of genetic abnormalities, and technological breakthroughs.
Asia-Pacific is expected to grow in emerging economies due to increased accessibility to healthcare facilities in the region, increased public awareness, increased demand for targeted therapy and personalised medicine, and an increase in disposable income.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cardiovascular Genetic Testing Market Share Analysis
The cardiovascular genetic testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cardiovascular genetic testing market.
Some of the major players operating in the cardiovascular genetic testing market are:
- Abbott (U.S)
- Bio-Rad Laboratories Inc. (U.S)
- Danaher (U.S)
- Daan Gene Co., Ltd. (Canada)
- F. Hoffmann-La Roche, Ltd. (Switzerland)
- Genentech, Inc. (U.S)
- Genomictree, Inc. (South Korea)
- HTG Molecular Diagnostics, Inc. (U.S)
- Illumina, Inc. (U.S)
- Integragen (France)
- Laboratory Corporation of America Holdings (U.S)
- Luminex Corporation (U.S)
- Molecular MD Corp. (U.S)
- Myriad Genetics, Inc. (U.S)
- Natera, Inc. (U.S)
- Oxford Biodynamics Plc (U.K)
- PacBio (U.S)
- PerkinElmer Inc. (U.S)
- Qiagen (Germany)
- Thermo Fisher Scientific, Inc. (U.S)