Global Genomic Tests Market, By Type (Predictive & Presymptomatic Testing, Carrier Testing, Prenatal & Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, Others), Technology (Cytogenetic Testing, Biochemical Testing, Molecular Testing), Application (Cancer diagnosis, Genetic Disease Diagnosis, Cardiovascular Disease Diagnosis, Others), End User (Hospitals & Clinics, Research Centers and Academic & Government Institutes, Pharmaceutical & Biotechnology Companies, Other End Users), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
The genomic tests market is expected to witness market growth at a rate of 10.27% in the forecast period of 2021 to 2028. Data Bridge Market Research report on genomic tests market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rapid advancements in the healthcare sector globally is escalating the growth of genomic tests market.
Genomics testing refers to the use of genetic identification and could be defined as a mode of diagnosis wherein the testing includes monitoring of the entire genome of an organism. The method is widely adopted for identifying any modifications or alterations throughout the gene of humans proving fatal or harmful.
The increase in application areas of genomics across the globe acts as one of the major factors driving the growth of genomic tests market. The rise in incidence of cancer and increasing applications of next-generation sequencing in cancer research, and innovations and advancements associated with the technology of genomic and genetic testing accelerate the market growth. The surge in government funding to support genomics projects, and rise in adoption of early detection of these diseases as it assists in declining the severity and preventing the onset of symptoms proving effective for patient management further influence the market. Additionally, rapid urbanization, technological advancements, government support to boost research and development, and high healthcare expenditure positively affect the genomic tests market. Furthermore, advancements in the testing extend profitable opportunity to the market players in the forecast period of 2021 to 2028.
On the other hand, lack of approved and accurate scientifically proven test products commercialized is expected to obstruct the market growth. Lack of guidelines and standardizations present currently for the development and utilization is projected to challenge the genomic tests market in the forecast period of 2021-2028.
This genomic tests 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 genomic tests market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Genomic Tests Market Scope and Market Size
The genomic tests market is segmented on the basis of type, technology, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the genomic tests market is segmented into predictive & presymptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others.
- On the basis of technology, the genomic tests market is segmented into cytogenetic testing, biochemical testing and molecular testing.
- On the basis of application, the genomic tests market is segmented into cancer diagnosis, genetic disease diagnosis, cardiovascular disease diagnosis and others.
- On the basis of end user, the genomic tests market is segmented into hospitals & clinics, research centers and academic & government institutes, pharmaceutical & biotechnology companies and other end users.
Genomic Tests Market Country Level Analysis
The genomic tests market is analyzed and market size insights and trends are provided by country, type, technology, application and end user as referenced above.
The countries covered in the genomic tests market report are the 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 dominates the genomic tests market because of the presence of majority of key players and government initiatives for promoting precision medicine within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 due to the increase in affordability, and surge in healthcare expenditure in the region.
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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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.
Healthcare infrastructure growth installed base and new technology penetration
The genomic tests market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for genomic tests market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the genomic tests market. The data is available for historic period 2010-2019.
Competitive Landscape and Genomic Tests Market Share Analysis
The genomic tests 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 genomic tests market.
The major players covered in the genomic tests market report are Ancestry, 23andMe, Inc., Co-Pay Relief Program, Melbourne Genomics Health Alliance, ViaCord, Genova Diagnostics (GDX), Fulgent Genetics, Loxo Oncology, Color, Genomic Health, Royal Brompton & Harefield NHS Foundation Trust, VikingGenetics, Helix OpCo LLC, American Jersey Cattle Association and National All-Jersey Inc., Agendia, FOUNDATION MEDICINE, INC., and Memorial Sloan Kettering Cancer Center, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.