The global genetic disease diagnostic market is anticipated to witness growth over the forecast period, driven by rising incidences of genetic disorders that give rise to a wide variety of independent diagnostic procedures. Additionally, increasing awareness about prenatal diagnosis, rising attempt to improve patients' quality of life, and growing popularity of certain techniques such as gene therapy, medical genetics are further expected to boost the market growth. Moreover, growing prevalence of genetic disorders such as color blindness, Down’s syndrome, cystic fibrosis, etc. and frequent incidences of disorder of synthesis of DNA, RNA & Protein are factors that are also propelling the genetic disorder diagnosis market growth. Expensive diagnosis and inadequate reimbursement procedures are amongst the few factors hindering the market growth. However, advantages associated with genetic disease diagnostics are expected to curb the impact of the aforementioned factors.
The global genetic disease diagnostic market, by application, is classified into inherited disorder testing, pharmacogenetic testing (PGx), human leukocyte antigen (HLA) testing, oncology testing, and others. Inherited disorder testing segment is further categorized into Bloom syndrome, Gaucher’s disease, Tay-Sachs disease, fragile x-syndrome, and others. In 2014, oncology testing was one of the highest revenue-generating application areas. Key factors associated with its large share include the growing pervasiveness of various kinds of cancer such as carcinoma & sarcoma, increasing tobacco and alcohol consumption among youth, and detrimental lifestyle among significantly large young population such as improper diet, lack of exercise and increasing consumption of red meat, etc. Furthermore, rising patient awareness pertaining to genetic disorders and its diagnostic techniques and rapid technological developments in its diagnostic techniques such as SBRT, robotic radiosurgery, and usage of molecular target agents are few factors that are further expected to boost oncology and consequently genetic disease diagnostics market over the forecast period. However, the pharmacogenetic testing segment is expected to witness lucrative growth over the estimated period of seven years. Factors such as growing awareness regarding diagnosis and growing interest of healthcare professionals towards the genetic differences in the drug metabolic pathways are few factors attributing to the rapid growth of the pharmacogenetic testing market over the forecast period.
Geographically, North America, Europe, Asia Pacific, MEA, and Latin America regions are included in the study. In 2014, North America accounted for the majority of the global genetic disease diagnostic market which is closely followed by Europe. Key factors attributing to its large share include the presence of developed healthcare infrastructure in the region, availability of skilled professionals & sophisticated genetic testing equipment, high healthcare expenditure, and better reimbursement policies. However, Asia Pacific regional segment is expected to show a substantial growth rate over the forecast period. The constant development of the medical tourism industry, rising healthcare expenditure, growing government initiatives pertaining to the development of healthcare infrastructure mainly biotechnology, agriculture, and pharmacology are few factors which are contributing towards the rapid growth of Asia Pacific genetic disease diagnosis market.
Major players in the genetic disease diagnostic market include Abbott Inc., Celera Group, Elitech Group, PerkinElmer Inc., Quest Diagnostics, AutoGenomics, Roche Diagnostics Corp., BioRad Laboratories, Transgenomic Inc. and Applied Biosystems Inc.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
"The quality of research they have done for us has been excellent."