Global Genomic Tests Market By Type (Diagnostic Testing, Clinical Predictive Testing, Pharmacogenetics Testing, Tumor Testing), Application (Cancer Diagnosis, Genetic Information, Inherited Genetic Changes), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Genomic Tests Market
Global genomic tests market is expected to register a substantial CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the growing volume of patients suffering from cancer globally.
Market Definition: Global Genomic Tests Market
Genomics testing is an upgraded usage of genetic identification and is described as a mode of diagnosis wherein the testing involves monitoring of the entire genome of an organism. This method is generally used for identifying any modifications or alterations throughout the gene of humans that can prove fatal or harmful.
- Increasing innovations and advancements associated with the technology of genomic and genetic testing is expected to propel the growth of the market
- Focus on developing personalized therapeutics and treatment modes; this factor is expected to drive the market growth
- Availability of various direct-to-consumer genomic testing kits available in the market giving rise to a higher adoption rate globally is another factor uplifting the market growth
- Lack of approved and accurate scientifically proven test products commercialized; this factor is expected to hinder the growth of the market
- Lack of guidelines and standardizations present currently for the development and utilization of genomic testing for different applications will restrict the market growth in the forecast period
Segmentation: Global Genomic Tests Market
- Diagnostic Testing
- Clinical Predictive Testing
- Pharmacogenetics Testing
- Tumor Testing
- Cancer Diagnosis
- Genetic Information
- Inherited Genetic Changes
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In July 2019, Helix OpCo LLC announced that they had established free screening in relation to DNA tests for ten thousand patients residing in Florida, United States as part of a strategic initiative established with various healthcare providers, in this case particularly with AdventHealth
- In December 2017, U.S. FDA announced that they had approved two new tests for the identification of genetic alterations in tumor cells. The approved test belonged to FOUNDATION MEDICINE, INC. and Memorial Sloan Kettering Cancer Center. These approvals of tests will help provide a better sense of motivation and focus from various market players involved in development and commercialization of genomic tests
Global genomic tests market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of genomic tests market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global genomic tests market are FOUNDATION MEDICINE, INC.; Memorial Sloan Kettering Cancer Center; 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 among others.
Research Methodology: Global Genomic Tests Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global genomic tests market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)