(PharmaNewsWire.Com, July 20, 2017 ) Market Data Forecast recently published a report on the North America Genetic Testing Market which estimates the market which was worth $13.129 million in 2016 and expected to be growing at a CAGR of 11.52%, to reach $22.645 million by 2021 during the forecast period from 2016 to 2021.
Genetic testing is a type of medical test that identifies changes in chromosomes, genes, or proteins. The results of a genetic test can confirm or rule out a suspected genetic condition or help determine a person’s chance of developing or passing on a genetic disorder. More than 1,000 genetic tests are currently in use, and more are being developed.
Genetic testing is voluntary. Because testing has benefits as well as limitations and risks, the decision about whether to be tested is a personal and complex one. A geneticist or genetic counselor can help by providing information about the pros and cons of the test and discussing the social and emotional aspects of testing.
The DROC Analysis contains some of the factors that have major effects on the market dynamics be it positive or negative. Increase in the awareness among the individuals about the benefits and the potentiality of genetic testing to identify and cure diseases or abnormalities is the main reasons for the genetic testing market to grow. In addition, increase in aging population, advancements of technology in the genetic testing space, subsequent increase in the cases of chronic diseases, and rising cancer case incidences are the few other factors aiding the growth of genetic testing market.
The market is segmented based on technology, reagents and media, instruments and end-users and is studied for a deep-level understanding of the Genetic Testing market. Each sub segment is accompanied with Market Size Estimations and Y-o-Y Forecasts as well.
By Type • Carrier Testing • Diagnostic Testing • Prenatal Testing • Neonatal Testing By Application • Cancer Testing • Prenatal Testing • Pharmacogenomics Testing • Presdisposition Testing
Furthermore, the North America market is analysed based on it geography under various regions namely, USA and Canada. The US represents the largest market for genetic testing worldwide. Screening for genetic mutations within the CFTR (Cystic Fibrosis Trans-Membrane Conductance Regulator) gene is the most recurrently conducted test in the US.
Some of the major companies in the North America genetic testing market include, Abbott Laboratories, Roche Molecular Diagnostics Inc., Abbott Molecular Inc., AutoGenomics Inc., Celera Group, ELITech Group, BioRad Laboratories, PerkinElmer Inc., Roche Diagnostics Corp., Quest Diagnostics Inc., Transgenomic Inc. and Applied Biosystems Inc.,
Scope of the North America Genetic Testing Market: • Regional and country-level analysis that provides an innate perspective of USA and Canada Market to that of the North American region • To detect major focus areas of industrial growth Segment-level analysis on basis of type, therapeutics, end-user along with market size forecasts and y-o-y estimations are provided • Detailed explanation of major drivers, restraints, opportunities, and challenges (DROC) that affect the market and impact the ever-shifting market dynamics • PESTLE and Porter’s Five Forces Analyses that examine the macro& micro environmental factors such as political influence, technological prowess, industry rivalry to name a few. • An extensive listing of major market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment • mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies all rolled out into Competitive landscape • Expertly devised Market Outlook comprising the Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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About Market Data Forecast: The publisher of this report is Market Data Forecast whose forte lies in Market research and Business Intelligence. Handling both individual and corporate clients across multiple business domains they offer syndicated/customized research to suit the client’s research objective. Their research reports section offers a wide variety of market studies ranging from all-encompassing comprehensive market studies to product specific niche markets covering North America among other regions of the global market as well.
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