The global genetic disease diagnostic market size is projected to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing prevalence of genetic disorders, which further leads to a wide range of independent diagnostic procedures.
Genetic diseases occur owing to one or more abnormalities in the genome of an individual. The inherited or triggered environmental factors such as virus and genes may cause a damage to chromosomes or a mutation in one or more genes. The mechanism behind genetic disorders has gained significant traction in the recent years due to the discovery of new treatment for genetic disorder and advancement in the diagnostic methods. Genetics specialists play a significant role to boost the market expansion as they offer several technology and methods that can help accurate and effective identifying of the occurrence of a genetic disorder. In the recent years, there is a substantial expansion in the uses of genetic testing, which positively impacts the genetic disease diagnostic market. The researchers are providing their focus on the development of cost-effective and high accuracy diagnostic tests.
Genetic tests are primarily carried out by collecting blood samples from patients. These samples are further run on a laboratory using several test kits to examine and detect any genetic disorders. These tests aids in diagnosis of various medical conditions, such as cancer diagnosis, cardiovascular disease diagnosis, and genetic disease diagnosis. One key aspect of the market expansion is the advancement of new technology that can detect frequent incidences of synthesis disorder of RNA and DNA & protein of patients.
Market Drivers, Restraints, Trends, and Opportunities
- Growing prevalence of chronic and rare diseases across the globe along with increasing awareness regarding prenatal diagnosis is boosting the market growth.
- Rising inclination towards quality lifestyle without the burden of diseases and wide introduction of certain effective techniques such as gene therapy are projected to further fuel the market growth during the forecast period.
- High diagnostic cost and inadequate reimbursement procedures in several countries are some major factors expected to hamper the market growth.
- Growing inclination of consumers towards prenatal diagnostic testing and substantial advancement in the diagnostic devices that provide extreme convenience for patients are projected to fuel the market growth.
- The outbreak of COVID-19 pandemic has adversely affected the genetic disease diagnostic market growth. The genetic counsellors are unable to see the patients in person, owing to various government restrictions to control the virus spread. Additionally, government bodies such as Center for Medicaid Services (CMS) currently do not count genetic counsellors as healthcare providers, thus they are not allowed to practice during lockdowns. These factors had negatively impacted the genetic disease diagnostic market.
Scope of the Report
The report on the global genetic disease diagnostic market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes | Details |
| Report Title | Genetic Disease Diagnostic Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018–2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Applications (Inherited Disorder Testing [Bloom Syndrome, Gaucher’s Disease, Tay-Sachs Disease, Fragile X-Syndrome, and Others], Pharmacogenetic Testing, Human Leukocyte Antigen Testing, Oncology Testing, and Others) |
| Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
| Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
| Key Players Covered in the Report | Abbott Inc., Celera Group, Elitech Group, PerkinElmer Inc., Quest Diagnostics, AutoGenomics, Roche Diagnostics Corp., BioRad Laboratories, Transgenomic Inc. and Applied Biosystems Inc. |
Global Genetic Disease Diagnostic Market Segment Insights
Oncology testing segment to represent a considerable market share
On the basis of applications, the market is divided into inherited disorder testing, pharmacogenetic testing (PGx), human leukocyte antigen (HLA) testing, oncology testing, and others. The inherited disorder testing segment is further segmented into Bloom syndrome, Gaucher’s disease, Tay-Sachs disease, fragile x-syndrome, and others.
The oncology testing segment is projected to represent a considerable market share during the forecast period owing to the increasing incidences of several kind of cancer such as sarcoma & carcinoma. Cancer is a health disorder that is based on detrimental lifestyle such as lack of exercise and improper diet as well as increasing consumption of alcohol and tobacco. Additionally, growing awareness of patients regarding genetic disorders and its diagnostic techniques is projected to boost the segment growth. Furthermore, rapid advancement in technology of diagnostic techniques such as robotic radiosurgery as well as use of molecular target agents and SBRT are some of the key factors propelling the segment growth. On the other hand, the PGx segment is projected to exhibit an impressive CAGR during the forecast period owing to the factors such as growing inclination of healthcare professionals towards genetic differences in the pathways of drug metabolic.
North America is anticipated to constitute a significant market share
In terms of regions, the market is categorized into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a significant market share during the forecast period. The presence of advanced healthcare infrastructure and availability of skilled professionals in this region are projected to boost the regional market growth. Additionally, the presence of sophisticated genetic testing equipment, better imbursement policies, and high expenditure on healthcare are the factors propelling the regional market growth.
The market in Asia Pacific, however, is expected to expand at a substantial CAGR during the forecast period. The continuously growing medical tourism industry, rise in government initiatives regarding healthcare infrastructure such as pharmacology and biotechnology, and increasing healthcare expenditure are some of the factors propelling the market growth in the region. Additionally, increasing affordability and growing awareness regarding early detection of genetic disorder are projected to boost the regional growth of the global genetic disease diagnostic market during the forecast period.
Segments
Segments Covered in the Report
The global genetic disease diagnostic market has been segmented on the basis of
Applications
- Inherited Disorder Testing
- Bloom Syndrome
- Gaucher’s Disease
- Tay-Sachs Disease
- Fragile X-Syndrome
- Others
- Pharmacogenetic Testing (PGx)
- Human Leukocyte Antigen (HLA) Testing
- Oncology Testing
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Abbott Inc.
- Celera Group
- Elitech Group
- PerkinElmer Inc.
- Quest Diagnostics
- AutoGenomics
- Roche Diagnostics Corp.
- BioRad Laboratories
- Transgenomic Inc.
- Applied Biosystems Inc.
Competitive Landscape
Some of the key players in the global genetic disease diagnostic market are include Abbott Inc., Celera Group, Elitech Group, PerkinElmer Inc., Quest Diagnostics, AutoGenomics, Roche Diagnostics Corp., BioRad Laboratories, Transgenomic Inc. and Applied Biosystems Inc.
These key players are constantly making efforts to expand research & development investments considerably for the development of novel diagnostic products. Additionally, companies are adopting several business strategies such as collaboration, partnership, product launch, and acquisition to gain maximum share in the global genetic disease diagnostic market.
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