North America Genetic testing Market
The genetic testing market in North America is the largest in the world. It was estimated at USD 11.9 billion in 2016 and is further anticipated to post a strong CAGR of 18% during the 2016-2021 forecast period. Within North America, the United States is set to have the highest demand for genetic testing and this demand is estimated to outpace the cumulative North American CAGR in the time frame 2016 to 2021. Newborn screening leads the region’s genetic testing market.
Personalized medicine is one area that is likely to benefit greatly from technological developments in genetic testing, which are of assistance not only in the better diagnosis of genetic diseases but also in deciding on an ideal medical regimen based on an individual’s DNA structure for ensuring that the drug responds in a superior manner.
In the realm of personalized medicine, Direct-to-Consumer (DTC) genetic testing has emerged as a major trend in the market and is expected to make a positive impact on the overall growth of the genetic testing market.
North America Market for Genetic Testing- Market Dynamics
Genetic testing offers prospects for the fastest growth among all other segments within the molecular diagnostics market.
Some of the factors driving the market towards growth are:
Global increase in the incidence of diseases such as cancer
Higher life expectancy
Technical advances and medical research
One major restraint that the North American genetic testing market is faced with is that the technology is expensive and not affordable by the entire population.
The report segments the market by type and geography. By type, the market is segmented into the carrier, diagnostic, newborn, predictive and presymptomatic, and prenatal testing. By geography, the market is segmented into the US, Canada, and Mexico.
Some of the key players in the market are:
What the Report Offers
Market definition for the North America genetic testing market along with identification of key drivers and restraints for the market.
Market analysis for the North America genetic testing market, with region-specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
Identification and analysis of the macro and micro factors that affect the North America genetic testing market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
The research report provides an in-depth analysis of the geographical and market-based factors that affect the growth of the genetic testing market.
The report captures the strategic assessment of indicators, market impact analysis, regional variation, current/ future market trends and profiles of major/niche global market participants.
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