The Hereditary Testing Market was valued at $5.6 Billion in 2018 and is forecast to grow at a modest 7.1 % CAGR between 2018 and 2025, culminating in 2026 global sales of $xx.20 Billion.
Industry at a Glance.
Genetic testing is a type of medical test that identifies changes in DNA, chromosomes, genes, or proteins. After the test, it confirms that the person is affected by genetic disorder or not.
The global genetic testing market is anticipated to have a considerable growth in the coming future owing to upsurge in prevalence of genetic disorders & cancer and growth in consciousness & acceptance of personalized medicines. Furthermore, developments in genetic testing procedures and rising application of genetic testing in oncology are projected to fuel the market growth over the forecast period.
The newborn genetic screening segment is playing a crucial role for the manufacturing of DNA testing kits. As per the, Division of Consolidated Laboratory Services (DCLS) survey, there are 8,659 newborns having metabolic and hereditary disorders. Which in turn, driving the market demand in the coming future.
Furthermore, BGI Genomic developed BGI Sentis HPV, a device for screening HPV. This HPV testing is used to screen for cervical cancer. On the other hand, Cepheid merged with Medline to supply maximum number of Cepheid’s products in the U.S. region and generating more revenue soon.
“Optimal Price Point (OPP) for Global Hereditary Testing”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On average, in Global Hereditary Testing are available at USD xxx- USD xxxx. However, high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of the latest products.
Global Hereditary Testing Market by “Key Disease Type”
We have segmented the Global Hereditary Testing-based on End-Use categories as Hereditary Cancer Testing, Hereditary Non-cancer Testing, and Newborn genetic screening.
We have observed the rapid growth of Hereditary Testing followed by Hereditary Cancer Testing with a CAGR of x.8% and is expected to propel the market growth over the forecast period. Breast cancer and lung cancer are the major driver in the scenario. Genetic testing also helps in predicting your risk of a cancer and finding if genes that may pass increased cancer risk to the person’s children.
We also noticed the Prenatal and new-born testing segment held market value of $3.9 billion in 2018 and will exhibit substantial growth over the forecast period. Prenatal screening checks for metabolic issues and chromosomal disorders such as aneuploidy or trisomy.
North America and Asia Pacific accounted for the maximum revenue share of over xx% in 2018 due to increased demand for Global Hereditary Testing followed by EU- Top 5 countries contribute $X.9 Billion in 2018 and expected to reach $x.5 Billion by 2026.
The Asia Pacific is anticipated create a strong CAGR of 15.4% in between 2018 to 2026. Rising the high consumption of junk food and inactive lifestyle as well as smoking and increased alcohol consumption will propel the patient pool in the region. Also, the developing healthcare infrastructure, and rising disposable income will spur the market growth.
The North America region led the market and accounted for the largest share in 2018. Due to the rising demand for personalized testing process and upsurge in the incidence of chronic disease, high adoption of advanced treatments and genetic disorder. Many government agencies like Centers for Medicare and Medicaid Services (CMS) and Food and Drug Administration (FDA) are the two major authority to control the genetic test in this region.
“Competitive Landscape” and “Merger & Acquisition Insights”
The key market participants are F. Hoffmann-La Roche Ltd, Quest Diagnostics Incorporated, CooperSurgical, Inc., Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., Twist Bioscience, Sophia Genetics, Fulgent Genetic, Inc., Medgenome, and CENTOGENE N.V. are few major players in Global Hereditary Testing markets. The Global Hereditary Testing market is fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation & new product development are major focus areas for dominant companies.
Global Hereditary Testing Market by Key Disease Type (Revenue, Million, 2018 – 2026)
- Hereditary Cancer Testing
- Hereditary Non-cancer Testing
- Newborn genetic screening
Global Hereditary Testing Market Regional Outlook (Revenue, USD Million, 2018-2026)
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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