Genetic Testing Market 2023 Trends: Expected to Grow at a CAGR of 10.1% by 2027, Report

•CAGR: 10.1%
• Current Market Size: USD 12 Billion
• Forecast Growing Region: APAC
• Largest Market: North America
• Projection Time: 2019- 2027
• Base Year: 2019

The global genetic testing market was valued at $12 billion in 2019, and is expected to reach $21 billion by 2027, registering a CAGR of 10.1% from 2019 to 2027.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/5241

𝐂𝐨𝐯𝐢𝐝-19 𝐈𝐦𝐩𝐚𝐜𝐭 𝐎𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐆𝐞𝐧𝐞𝐭𝐢𝐜 𝐓𝐞𝐬𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭

The Covid-19 pandemic has had a significant impact on the global genetic testing market. While the precise effects vary across different regions and sectors, several key trends have emerged.

1. Increased demand for Covid-19 testing: The pandemic has driven an unprecedented demand for diagnostic testing, including genetic testing for Covid-19. This surge in demand has led to a substantial increase in genetic testing volumes globally.
2. Shift towards remote testing options: To minimize the risk of virus transmission and maintain social distancing, many genetic testing providers have shifted towards remote testing options. This includes at-home collection kits that allow individuals to provide samples without visiting a healthcare facility.
3. Delayed non-essential genetic testing: As healthcare systems worldwide focused on managing the pandemic, non-essential genetic testing procedures were often delayed or postponed. This led to a temporary decline in certain types of genetic testing, such as prenatal testing or carrier screening.
4. Increased research and development: The urgency of understanding the genetic factors underlying Covid-19 susceptibility and severity has spurred significant research and development efforts in the field of genetic testing. This has led to advancements in genetic sequencing technologies and the discovery of new genetic markers associated with the disease.
5. Supply chain disruptions: The global genetic testing market relies on complex supply chains for reagents, equipment, and consumables. The pandemic has disrupted these supply chains, causing shortages and delays in the availability of essential testing components.
6. Telemedicine and virtual consultations: With the increased adoption of telemedicine and virtual consultations during the pandemic, genetic testing providers have also embraced these technologies. They have developed online platforms and tools to enable remote genetic counseling, result interpretation, and consultations.
7. Impact on genetic research and drug development: The pandemic has highlighted the importance of genetic research and personalized medicine. The genetic data collected during the pandemic is expected to contribute to ongoing research and drug development efforts, potentially leading to advancements in precision medicine and targeted therapies.

𝐃𝐨 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 – https://www.alliedmarketresearch.com/purchase-enquiry/5241

Key Benefits For Stakeholders

• This report entails a detailed quantitative analysis along with the current global genetic testing market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessment.
• The genetic testing market forecast is studied from 2020 to 2027.
• The market size and estimations are based on a comprehensive analysis of key developments in the industry.
• A qualitative analysis based on innovative products facilitates strategic business planning.
• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.

✦ Procure Complete Report at 20% Discount (247+ Pages) –@ https://www.alliedmarketresearch.com/genetic-testing-market/purchase-options

Key Findings Of The Study 

• By type, the prenatal & newborn testing segment occupied one-thirds share of the global genetic testing market in 2019
• By technology, the biochemical testing segment is anticipated to grow with the highest CAGR throughout the forecast period.
• By application, the genetic disease diagnosis segment accounted for more than one-thirds share of the market in 2019.
• By region, Asia-Pacific is anticipated to grow at the highest rate during the analysis period.

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐈𝐧 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 –

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