Genetic Testing - Market Overview
The genetic testing market is witnessing a period of profound growth. Growing with a CAGR of 18 percent globally genetic testing market is expected to cross the figure of US$ 10 Billion by 2015. This significant growth is primarily attributed to the incidence of genetic diseases, burgeoning demand for molecular diagnostics, aging population, and subsequent increase in chronic diseases. Increasing knowledge about the potential benefits in genetic testing has been one of the prime reasons for the growth in genetic testing.
Pharmacogenomics is the most lucrative segment of genetic testing. Cancer genetic testing should post strong position in the genetic testing industry due to rising cases of cancer patients with the market share of around 23% in 2010 and it is expected that cancer genetic testing will lead the genetic testing market by 2015. The future growth in genetic testing is expected to come from prenatal and predisposition genetic testing.
Genetic testing is becoming an integral and growing part of healthcare provision and services.
Advancements in genetic testing, together with genetically engineered drugs, are expected to aid in tailoring personalized medicine for specific races, individuals, and families. The genetic testing sector will grow rapidly over the next 5 to 10 years and spread beyond the small number of specialist genetic centres.
“Genetic Testing Market & Future Forecast - Global Analysis 2010 – 2015” report published by Renub Research provides an in-depth analysis of the past, present and future prospects. The report has been researched at source globally and features latest available data covering:
- Global Genetic Testing Market (2005 – 2015)
- Top 5 application wise genetic testing (Cancer Genetic Testing, Prenatal Genetic Testing, Predisposition Genetic Testing, Pharmacogenomics Genetic Testing) data of Past, Present and Future Market
- United States immigration genetic testing market
- Top Corporate past, present developments
- Top Laboratory Merger & Acquisition deals from 2007 - 2009
- Driving forces for the growth of global genetic testing market
- Challenges faced by genetic testing market in the coming years
- Key Players analysis in the genetic testing market
- Globally, Genetic Testing market is expected to cross the figure of US$ 10 Billion by 2015
- Cancer Genetic testing dominates the Genetic Testing market with more than 35% market share by 2015
- Cancer Genetic Testing and Pharmacogenomics testing are likely growth leaders in the genetic testing market.
- Prenatal & Predisposition genetic testing will have a combined market share of 26% by 2015
This section covers the key facts about the major companies that play an important role in Genetic Testing Market. The companies analyzed in this section are – Orchid Cellmark Inc, 23andMe, Pathway Genomics Corporation, Navigenics, Decode Genetic. All the companies have been analyzed from two points of view 1) Strength of the company in genetic testing market 2) Weakness of the company in genetic testing market.
This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by Renub Research team of industry experts.
Information and data has been collected from various printable and non-printable sources like search engines, News websites, Government Websites, Trade Journals, White papers, Government Agencies, Magazines, Newspapers, Trade associations, Books, Industry Portals, Industry Associations and access to more than 100 paid databases.