"For substantial business growth and sustained sustainability in the market, a detailed market research report like the Rare Disease Genetic Testing Market report, containing comprehensive statistics and market research insights, is crucial. This industry report presents a precise study of the Rare Disease Genetic Testing Market industry, outlining market definitions, classifications, applications, engagements, and global industry trends. The report provides abundant comprehensive market insights based on business intelligence. Additionally, the Rare Disease Genetic Testing Market research report offers thorough information about target markets or customers.
Using excellent practice models and advanced research methods, a reliable Rare Disease Genetic Testing Market report has been generated to help businesses uncover supreme opportunities in the Rare Disease Genetic Testing Market industry. The report highlights historic data, current market trends, the future product environment, marketing strategies, technological innovation, upcoming technologies, rising opportunities, and technical progress in the related industry. SWOT analysis and Porter's Five Forces Analysis are two major tools employed for market analysis. Businesses can confidently adopt the Rare Disease Genetic Testing Marketing report for logical decision-making and superior management of the marketing of goods and services.
Data Bridge Market Research analyses that the rare disease genetic testing market which was USD 785.8 million in 2021, is expected to reach USD 1982.04 million by 2029, at a CAGR of 12.26% during the forecast period 2022 to 2029.
Explore Further Details about This Research Rare Disease Genetic Testing Market Report https://www.databridgemarketresearch.com/reports/global-rare-disease-genetic-testing-market
Rare Disease Genetic Testing Market Scope and Segmentation     Â
REPORT METRIC | DETAILS |
Forecast Period | 2022 to 2029 |
Base Year | 2021 |
Historic Years | 2020 (Customizable to 2014 - 2019) |
Quantitative Units | Revenue in USD Million, Volumes in Units, Pricing in USD |
Segments Covered | Disease Type (Neurological Disorders, Immunological Disorders, Hematology Diseases, Endocrine and Metabolism Diseases, Cancer, Musculoskeletal Disorders, Cardiovascular Disorders (CVDs), Dermatology Disease, Others), Technology (Next-Generation Sequencing (NGS), Array Technology, PCR-based Testing, FISH, Sanger Sequencing, Karyotyping), Specialty (Molecular Genetic Tests, Chromosomal Genetic Tests, Biochemical Genetic Tests), End Use (Research Laboratories and CROs, Diagnostic Centers, Hospitals and Clinics) |
Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. |
Market Players Covered | Quest Diagnostics, Incorporated (U.S.), Centogene N.V. (Germany), Strand Life Sciences (Bengaluru), Ambry Genetics (U.S.), PerkinElmer, Inc. (U.S.), Macrogen, Inc. (South Korea), Baylor Genetics (U.S.), HNL Lab Medicine (U.S.), Preventiongenetics (U.S.), 3billion, Inc. (South Korea), Arup Laboratories (U.S.), Invitae Corporation (U.S.), Eurofins Scientific (Luxembourg), Strand Life Sciences (India), Realm IDX, Inc. (China), Myriad Genetics, Inc. (U.S.), Laboratory Corporation of America Holdings (U.S.), Opko Health, Inc. (U.S.) |
Market Opportunities |
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Market Definition
Genetic testing is a diagnostic tool that not only aids in the identification of specific disease manifestations but also in determining the underlying causes of genetic disorders. Genetic testing has a variety of advantages such as confirming a diagnosis, determining the cause of unexplained symptoms, and identifying treatment options, including clinical trials. Genetic testing refers to a wide range of applications, ranging from family history collection and evaluation to whole genome screening. Each test has its own set of advantages and disadvantages based on the technology used and the indication for the test. A rare disease refers to a condition, disorder or disease that affects a small percentage of the population at any given time. For instance, in the European Union, it affects fewer than 1 in 2,000 individuals, in the United States, a rare disease is defined as a disease that affects less than 200,000 individuals.
Global Rare Disease Genetic Testing Market Dynamics
Drivers
- Genetic testing use in research laboratories
Genetic testing is used in the research laboratories for laboratory test to look for variations in an individual's DNA, typically in the context of medical care, ancestry studies, or forensics. A genetic test's results can be used in a medical setting to confirm a suspected genetic disease. Genetic testing is the use of a laboratory test to examine an individual’s DNA for variations, typically performed in the context of ancestry studies, forensics, medical care. These all are the certain factors which propel the growth of market.
- Rise in diagnostic testing
Diagnostic testing is used to identify a specific genetic or chromosomal condition. In many cases, genetic testing is used to confirm a diagnosis when a particular condition is suspected based on physical signs and symptoms. Even though uncovering the genetic cause behind a condition may not directly impact treatment options, it will provide physicians and the families with useful information. For instance, physicians can combine genetic testing with existing clinical and biochemical analyses to accurately confirm a disease diagnosis. These are the factors which boost the market’s growth.
Opportunities
- Rise in disease testing
The Canadian organization for rare disorders (CORD) provides a strong platform for streamlining health policy and a healthcare system dedicated to the management of patients with disorders. The agency works with clinicians, researchers, governments and the diagnostic industry to advance research and development, diagnosis, treatment, and service availability for all rare conditions in the country. According to the National Institutes of Health (NIH), approximately 30 million Americans have been diagnosed with one of the 7,000+ known rare diseases. With increased awareness, the number of patients undergoing disease testing is expected to rise in the coming years.
Key Influence of this Rare Disease Genetic Testing Market:
- Comprehensive assessment of all opportunities and risk in this Rare Disease Genetic Testing Market
- This Rare Disease Genetic Testing Market recent innovations and major events
- Detailed study of business strategies for growth of the this Rare Disease Genetic Testing Market leading players
- Conclusive study about the growth plot of the Market for forthcoming years
- In-depth understanding of this Rare Disease Genetic Testing Market particular drivers, constraints and major micro markets
- Favorable impression inside vital technological and market latest trends striking this Rare Disease Genetic Testing Market
- To provide historical and forecast revenue of the Rare Disease Genetic Testing Market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
- To provide country level analysis of the Rare Disease Genetic Testing Market t with respect to the current market size and future prospective
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