Genetic Testing Market is projected to Grow Considerably in the Coming Years

The global genetic testing market is projected to grow considerably in the coming years, due to the growing number of test to study multiple genes that may help in managing individual health condition. Additionally, the government initiatives to spread awareness with respect to the advantages of procedure is further expected to drive the growth of the market. The market is categorized into carrier testing, diagnostic testing, new-born screening, predictive & pre-symptomatic testing, prenatal testing, based on types of gene testing. Among the various types, new born screening held the largest share in 2016, due to the growing number of newborn genetic screening programs, while carrier testing is expected to project the fastest growth in demand during the forecast period.

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Increasing application of the gene testing in oncological research, rising incidences of genetic disorders, technological advancements and rising demand for personalized medicine are the major drivers augmenting the growth of the genetic testing industry.

Genetic tests in conjugation with other genomic technologies would help predict the risk of an individual to a disease and is also expected to assist clinicians to select suitable therapeutic interventions. These factors also increase the opportunities for players in pharmaceutical industry to grow, by providing treatment options to their end users. For instance, 23andMe offers direct genetic makeup tests to the consumers and based on the results of tests, the company recommends genetic counsellors to help the consumers about the better testing of genes, and the inherited diseases.

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Major players in the genetic testing market are Transgenomic, Inc., GE Healthcare, 23 & Me Sequenom, Inc., Abbott Laboratories, Biocartis SA, Illumina Inc., 454 Life Sciences, Bio-Rad Laboratories, Luminex Corporation, Affymetrix Inc., Agilent Technologies Inc., Cephide Inc., Beckman Coulter Inc.

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