Genetic analysis refers to the study of DNA and RNA or the basic structure of genes for varied analytical purposes. Genetic analysis has emerged as an important tool in the fields of diagnostics, drug discovery, and biomedical research. It is helpful in determining the occurrence of diseases and errors in the metabolic functioning of the body. It enables the researchers to detect the diseases at the genetic level. Genetic analysis also has profound importance in confirming an individual’s identity and hence finds important application in the field of judiciary sciences. Genomic analysis can be used for accurate classification of diseases which support its increased use in varied application such as pharmacogenomics and biomarkers.
The genetic analysis services market is classified into two types on the basis of technology and application. On the basis of application, the genetic analysis services market is subdivided into biomarkers, drug discovery, and diagnostics. Many organizations are entering into genetic analysis business and offer different types of services such as whole-genome sequencing, database pertaining to genomics, and genetic disease forecasting. There is an upsurge in demand for gene expression technology due to the increasing prevalence rate of life-threatening diseases such as Cancer, Alzheimer’s, ITP, and others. Additionally, technological advancements in the field of genomics are also expected to fuel the growth of this market in the forecast period.
Geographically, genetic analysis services market can be studied with respect to four regions such as North America, Europe, Asia Pacific, and RoW. North America is expected to dominate the market share owing to the presence of sophisticated healthcare infrastructure, greater awareness levels amongst people regarding genomics, easy availability of primers, test chemicals, equipment, etc. and increased healthcare expenditure during the forecast period. Asia Pacific is expected to grow at a lucrative rate due to the rapidly improving healthcare facilities, increasing healthcare expenditure levels, and an upsurge in research and development activities related to genomics coupled with increasing patient awareness in the emerging markets of India and China in coming six years. However, the lack of favorable reimbursement policies and regulatory frameworks are expected to impede market growth in these territories. Key players operating in the genetic analysis services market include Roche Diagnostics Corporation, Life Technologies, Agilent Technologies, Bio-Rad Laboratories, GE Healthcare, 23andMe, Illumina, Inc., Qiagen, N.V., Affymetric, Inc., and others.
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