The global genetic testing market represents one of the leading applications of the molecular diagnostics industry, in which the use of next-generation sequencing (NGS) platforms is small as compared to other sectors, but it is likely to grow in future. As per a new report released by RNCOS, the market for NGS has expanded in the recent times. With new innovations and disease diagnostic techniques coming to marketplace, the NGS platforms can be built accordingly. Backed by the sustained penetration of traditional sequencers and other factors, the global NGS market is anticipated to grow at a CAGR of around 20% during 2012-2015 to reach US$ 1.9 Billion.
With the share of around 15%, the global genetic testing market is one of the leading applications of the molecular diagnostics industry. According to the report “Global Genetic Testing Market Analysis”, there are several prominent factors driving growth of this market, and of these, pharmacogenomics and personalization of medical treatment are perhaps the most important ones. The global genetic testing market, which was worth US$ 1.7 Billion size in 2011, is likely to exhibit a strong performance in the coming years. The study, conducted by a team of experts, identifies the possible growth areas in terms of diseases, such as Cancer, Alzheimer’s, and Cystic Fibrosis. Moreover, it illustrates the state of genetic testing market and developments in countries, like the US, Europe, China, and India, among others.
Highlighting the key aspects of the global genetic testing market, the research provides a quantitative and qualitative analysis of the market size and key drivers. It is an outcome of an extensive research and prudent analysis of the industry. It takes into account the important developments, and uses proper methods and techniques to present a realistic market outlook. The comprehensive study also covers the description and key activities of market players to portray an impartial picture of the industry to clients.
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Article By: Shushmul Maheshwari