Genetic Testing Services Market Overview
The global Genetic Testing Services market is expected to grow at a rapid pace during the forecast period. The increasing incidence & prevalence of chronic diseases such as autoimmune, oncology, infectious, and others are boosting the growth of the global Genetic Testing Services market. According to World Health Organization (WHO), Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. This is estimated to drive the market of global genetic testing services. Also, the augmented diagnosis rate of rare diseases and their increasing incidence is projected to boost the growth of the genetic testing services market.
As per Autoimmunity Reviews, autoimmune diseases are a major cause of death in the United States among young and middle-aged people. The estimates suggest that all autoimmune diseases combined affect about 3% of the US population, thus approximately 10 million people. Additionally, genetic factor plays a crucial role in activating the autoimmune diseases. Hence, the increasing rate of autoimmune diseases is projected to boost the genetic testing services market to a great extent.
Furthermore, novel innovative technologies such as RT-PCR and sequencing are available in the market which provides a relatively less expensive method of diagnosis, prognosis, and therapy selection for a treatment plan. Consequently, constant development in technology is anticipated to propel the growth of the global genetic testing services market over the forecast period.
Covid-19 Impact on Genetic Testing Services Market
In addition, the current Genetic Testing Services Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Genetic Testing Services Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Genetic Testing Services Market Segment Overview
According to Test Type, Prenatal Testing and Newborn Screening segments are held a dominant position in the global genetic testing services market. This is attributable to growing awareness among people regarding healthcare and the increase in incidences of mortality rate from genetic diseases across the world. Prenatal screening tests can identify whether the baby is more or less likely to have certain birth defects, many of which are genetic disorders. These tests include blood tests, a specific type of ultrasound, and prenatal cell-free DNA screening. In addition, BabyShield Newborn Screening combines biochemical testing of 100+ metabolic & genetic conditions with confirmatory genetic testing for screen-positive results.
Genetic Testing Services Market, By Test Type
· Prenatal Testing
· Newborn Screening
· Predictive and Presymptomatic Testing
· Pharmacogenomic Testing
Genetic Testing Services Market, By Application
· Oncology
· Infectious Diseases
· Autoimmune Diseases
Genetic Testing Services Market, By Service Provider
· Hospital-based Laboratories
· Diagnostic Laboratories
· Specialty Clinics
Genetic Testing Services Regional Overview
Region-wise, North America commanded a major share of the global Genetic Testing Services market and is predictable to maintain its supremacy over the forecast period. This is attributed to the presence of a majority of key market players in the region. On the other hand, Asia-Pacific is projected to grow at the highest CAGR over the forecast period. This is because of an increase in affordability, a rise in healthcare expenditure, and growth in awareness toward early screening of genetic disorders.
Genetic Testing Services Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Genetic Testing Services Market Competitor overview
Some key developments and strategies adopted by manufacturers in Genetic Testing Services are highlighted below.
· In August 2021, Lightbeam Health Solutions, the leader in end-to-end population health management solutions and services, announced its partnership with Ambry Genetics, a Konica Minolta Precision Medicine (KMPM) company. The partnership provides precision genetic testing data within the Lightbeam application to help organizations predict increased risk for common cancers and chronic conditions within patient populations.
· In July 2019, Exact Sciences Corp. and Genomic Health, Inc. announced that the companies have entered into a definitive agreement under which Exact Sciences combine with Genomic Health for $72.00 per share in a cash and stock transaction valued at $2.8 billion. The combined company will offer two of the strongest and fastest-growing brands in cancer diagnostics, Cologuard® and Oncotype DX® providing a robust platform for continued growth.
· In December 2019, Veracyte announced that it has executed a definitive agreement with NanoString for the exclusive global license to the nCounter® platform for diagnostic use. The strategic transaction positions Veracyte to expand its genomic diagnostics business globally, with the ability to deliver its advanced genomic tests to physicians and their patients via hospital and clinical laboratories throughout the European Union and other parts of the world.
Genetic Testing Services Market, Key Players
· Laboratory Corporation of America Holdings
· Quest Diagnostics Incorporated
· Genomic Health, Inc.
· NeoGenomics Laboratories, Inc.
· Eurofins Scientific
· Ambry Genetics
· Illumina, Inc
The global Genetic Testing Services market is expected to grow at a rapid pace during the forecast period. The increasing incidence & prevalence of chronic diseases such as autoimmune, oncology, infectious, and others are boosting the growth of the global Genetic Testing Services market. According to World Health Organization (WHO), Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. This is estimated to drive the market of global genetic testing services. Also, the augmented diagnosis rate of rare diseases and their increasing incidence is projected to boost the growth of the genetic testing services market.
As per Autoimmunity Reviews, autoimmune diseases are a major cause of death in the United States among young and middle-aged people. The estimates suggest that all autoimmune diseases combined affect about 3% of the US population, thus approximately 10 million people. Additionally, genetic factor plays a crucial role in activating the autoimmune diseases. Hence, the increasing rate of autoimmune diseases is projected to boost the genetic testing services market to a great extent.
Furthermore, novel innovative technologies such as RT-PCR and sequencing are available in the market which provides a relatively less expensive method of diagnosis, prognosis, and therapy selection for a treatment plan. Consequently, constant development in technology is anticipated to propel the growth of the global genetic testing services market over the forecast period.
Covid-19 Impact on Genetic Testing Services Market
In addition, the current Genetic Testing Services Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Genetic Testing Services Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Genetic Testing Services Market Segment Overview
According to Test Type, Prenatal Testing and Newborn Screening segments are held a dominant position in the global genetic testing services market. This is attributable to growing awareness among people regarding healthcare and the increase in incidences of mortality rate from genetic diseases across the world. Prenatal screening tests can identify whether the baby is more or less likely to have certain birth defects, many of which are genetic disorders. These tests include blood tests, a specific type of ultrasound, and prenatal cell-free DNA screening. In addition, BabyShield Newborn Screening combines biochemical testing of 100+ metabolic & genetic conditions with confirmatory genetic testing for screen-positive results.
Genetic Testing Services Market, By Test Type
· Prenatal Testing
· Newborn Screening
· Predictive and Presymptomatic Testing
· Pharmacogenomic Testing
Genetic Testing Services Market, By Application
· Oncology
· Infectious Diseases
· Autoimmune Diseases
Genetic Testing Services Market, By Service Provider
· Hospital-based Laboratories
· Diagnostic Laboratories
· Specialty Clinics
Genetic Testing Services Regional Overview
Region-wise, North America commanded a major share of the global Genetic Testing Services market and is predictable to maintain its supremacy over the forecast period. This is attributed to the presence of a majority of key market players in the region. On the other hand, Asia-Pacific is projected to grow at the highest CAGR over the forecast period. This is because of an increase in affordability, a rise in healthcare expenditure, and growth in awareness toward early screening of genetic disorders.
Genetic Testing Services Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Genetic Testing Services Market Competitor overview
Some key developments and strategies adopted by manufacturers in Genetic Testing Services are highlighted below.
· In August 2021, Lightbeam Health Solutions, the leader in end-to-end population health management solutions and services, announced its partnership with Ambry Genetics, a Konica Minolta Precision Medicine (KMPM) company. The partnership provides precision genetic testing data within the Lightbeam application to help organizations predict increased risk for common cancers and chronic conditions within patient populations.
· In July 2019, Exact Sciences Corp. and Genomic Health, Inc. announced that the companies have entered into a definitive agreement under which Exact Sciences combine with Genomic Health for $72.00 per share in a cash and stock transaction valued at $2.8 billion. The combined company will offer two of the strongest and fastest-growing brands in cancer diagnostics, Cologuard® and Oncotype DX® providing a robust platform for continued growth.
· In December 2019, Veracyte announced that it has executed a definitive agreement with NanoString for the exclusive global license to the nCounter® platform for diagnostic use. The strategic transaction positions Veracyte to expand its genomic diagnostics business globally, with the ability to deliver its advanced genomic tests to physicians and their patients via hospital and clinical laboratories throughout the European Union and other parts of the world.
Genetic Testing Services Market, Key Players
· Laboratory Corporation of America Holdings
· Quest Diagnostics Incorporated
· Genomic Health, Inc.
· NeoGenomics Laboratories, Inc.
· Eurofins Scientific
· Ambry Genetics
· Illumina, Inc
Genetic Testing Services Market Study Global Market Analysis, Insights and Forecast, 2020-2027
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Genetic Testing Services Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Test Type
- 5.2.1. Prenatal Testing
- 5.2.2. Newborn Screening
- 5.2.3. Predictive and Presymptomatic Testing
- 5.2.4. Pharmacogenomic Testing
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Oncology
- 5.3.2. Infectious Diseases
- 5.3.3. Autoimmune Diseases
- 5.4. Market Analysis, Insights and Forecast – By Service Provider
- 5.4.1. Hospital-based Laboratories
- 5.4.2. Diagnostic Laboratories
- 5.4.3. Specialty Clinics
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Genetic Testing Services Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Test Type
- 6.2.1. Prenatal Testing
- 6.2.2. Newborn Screening
- 6.2.3. Predictive and Presymptomatic Testing
- 6.2.4. Pharmacogenomic Testing
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Oncology
- 6.3.2. Infectious Diseases
- 6.3.3. Autoimmune Diseases
- 6.4. Market Analysis, Insights and Forecast – By Service Provider
- 6.4.1. Hospital-based Laboratories
- 6.4.2. Diagnostic Laboratories
- 6.4.3. Specialty Clinics
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Genetic Testing Services Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Test Type
- 7.2.1. Prenatal Testing
- 7.2.2. Newborn Screening
- 7.2.3. Predictive and Presymptomatic Testing
- 7.2.4. Pharmacogenomic Testing
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Oncology
- 7.3.2. Infectious Diseases
- 7.3.3. Autoimmune Diseases
- 7.4. Market Analysis, Insights and Forecast – By Service Provider
- 7.4.1. Hospital-based Laboratories
- 7.4.2. Diagnostic Laboratories
- 7.4.3. Specialty Clinics
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Genetic Testing Services Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Test Type
- 8.2.1. Prenatal Testing
- 8.2.2. Newborn Screening
- 8.2.3. Predictive and Presymptomatic Testing
- 8.2.4. Pharmacogenomic Testing
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Oncology
- 8.3.2. Infectious Diseases
- 8.3.3. Autoimmune Diseases
- 8.4. Market Analysis, Insights and Forecast – By Service Provider
- 8.4.1. Hospital-based Laboratories
- 8.4.2. Diagnostic Laboratories
- 8.4.3. Specialty Clinics
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Genetic Testing Services Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Test Type
- 9.2.1. Prenatal Testing
- 9.2.2. Newborn Screening
- 9.2.3. Predictive and Presymptomatic Testing
- 9.2.4. Pharmacogenomic Testing
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Oncology
- 9.3.2. Infectious Diseases
- 9.3.3. Autoimmune Diseases
- 9.4. Market Analysis, Insights and Forecast – By Service Provider
- 9.4.1. Hospital-based Laboratories
- 9.4.2. Diagnostic Laboratories
- 9.4.3. Specialty Clinics
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Laboratory Corporation of America Holdings
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Quest Diagnostics Incorporated
- 10.6. Genomic Health, Inc.
- 10.7. NeoGenomics Laboratories, Inc.
- 10.8. Eurofins Scientific
- 10.9. Ambry Genetics
Research Process
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
