Abbott Laboratories, Bio-Rad Laboratories Inc., and Qiagen NV are three key vendors highlighted in a new Technavio report
London, 24 July 2015 – Technavio has published a new report on the global genetic testing market, which is expected to grow at a CAGR of almost 10% from 2015-2019.
Genetic testing market segmentation including application and geography
Technavio’s report analyses the solutions and products offered by market vendors and presents a comprehensive breakdown in terms of market segmentation for different applications, including pharmacogenomics testing, predictive testing, prenatal testing, and newborn testing.
Additionally, analysts have segmented market projections by key geography, focusing on the APAC region, EMEA, and the Americas.
The report also indicates that according to the US National Academy of Sciences, personalized medicine is the use of genomic, epigenomic, and other data to determine individual patterns of disease, that can lead to better treatment.
“Personalized medicine uses molecular markers to identify disease risk or occurrence before the appearance of clinical symptoms and focus on prevention and early treatment rather than on reaction to the advanced stages of a disease,” says Faisal Ghaus, Vice President of Technavio.
Genetic testing: Market scope and calculation of market size
This report covers the present scenario and growth prospects for the global genetic testing market from 2015-2019. To calculate the market size, we considered the revenue generated from various genetic testing, including pharmacogenomics testing, predictive testing, prenatal testing, and newborn testing.
Industry analysis includes:
Key Vendors:
- Abbott Laboratories
- Bio-Rad Laboratories Inc.
- Qiagen NV
- Quest Diagnostics Inc.
- Roche Diagnostics Ltd.
Market Growth Drivers:
- Rise in Incidence of Genetic Diseases
- Advances in Genetic Testing for Cancer
Market Challenges:
- High Cost
- Reimbursement Issues
Market Trends:
- Growing Demand for Personalized Medicine
- Growing Consumer Demand for Health Information
View the global genetic testing market report.
https://www.technavio.com/%3Cp%3E%3Cstrong%3E%3Ca%20href%3D%22http%3A//ww…
