Genetic Testing Market to grow by USD 5.39 billion|Key Drivers, Trends, and Market Forecasts|17000+ Technavio Research Reports

NEW YORK, April 29, 2021 /PRNewswire/ — 
Technavio has been monitoring the genetic testing…

NEW YORK, April 29, 2021 /PRNewswire/ — 

Technavio has been monitoring the genetic testing market and it is poised to grow by USD 5.39 billion during 2021-2025, progressing at a CAGR of about 12% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries; however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have at Par impact on the genetic testing market.

Frequently Asked Questions:

  • Based on segmentation by the product, which is the leading segment in the market?

    The equipment is the leading segment in the market.
  • At what rate is the market projected to grow?

    The market is projected to accelerate at a CAGR of about 12%.
  • Who are the top players in the market?

    Abbott Laboratories, Agilent Technologies Inc., bioMerieux SA, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Illumina Inc., Myriad Genetics Inc., QIAGEN NV, Quest Diagnostics Inc., and Thermo Fisher Scientific Inc. are the top players in the market.
  • What are the key market drivers and challenges?

    The market is driven by the rising prevalence of genetic diseases and disorders. However, issues related to product recalls will impede market growth.
  • How big is the North American market?

    40% of the market’s growth will originate from North America during the forecast period.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Abbott Laboratories, Agilent Technologies Inc., bioMerieux SA, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Illumina Inc., Myriad Genetics Inc., QIAGEN NV, Quest Diagnostics Inc., and Thermo Fisher Scientific Inc. are some of the major market participants. Although the rising prevalence of genetic diseases and disorders will offer immense growth opportunities, the varying regulations on genetic testing and research globally is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this genetic testing market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Genetic Testing Market 2021-2025: Segmentation

The genetic Testing Market is segmented as below:

  • Product

    o   Equipment

    o   Consumables
  • Geography

    o   North America

    o   Europe

    o   Asia

    o   ROW

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40152

Genetic Testing Market 2021-2025: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The genetic testing market report covers the following areas:

  • Genetic Testing Market Size
  • Genetic Testing Market Trends
  • Genetic Testing Market Industry Analysis

This study identifies the advancements in next-generation sequencing as one of the prime reasons driving the Genetic Testing Market growth during the next few years.

Genetic Testing Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist genetic testing market growth during the next five years
  • Estimation of the genetic testing market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the genetic testing market across North America, Europe, Asia, and ROW
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of genetic testing market vendors

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Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Equipment – Market size and forecast 2020-2025
  • Consumables – Market size and forecast 2020-2025
  • Market opportunity by Product

Segmentation by Application

  • Predictive and diagnostic testing
  • Pharmacogenomic testing

Customer Landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • Asia – Market size and forecast 2020-2025
  • ROW – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Abbott Laboratories
  • Agilent Technologies Inc.
  • bioMerieux SA
  • Bio-Rad Laboratories Inc.
  • F. Hoffmann-La Roche Ltd.
  • Illumina Inc.
  • Myriad Genetics Inc.
  • QIAGEN NV
  • Quest Diagnostics Inc.
  • Thermo Fisher Scientific Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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