The market is estimated to grow with a CAGR of 11. 7% from 2019-2027. The factors driving the growth of genetic testing service include rising prevalence of the genetic diseases and rise in awareness & acceptance of personalized medicines.
New York, March 18, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Genetic Testing Services Market to 2027 - Global Analysis and Forecasts by Type , Disease , Service Provider and Geography" - https://www.reportlinker.com/p05875881/?utm_source=GNW
Also, growing preference towards Direct-To-Consumer (DTC) genetic testing, support of government to adopt genetic testing services is positively impacting the growth of the market in the review period.
In addition, various strategic initiatives by the manufacturers, new product launch along with artificial intelligence (AI) powered genetic testing is likely to boost the growth of market.
Genetic testing comprises a broad range of laboratory tests performed to analyze DNA, RNA, chromosomes, proteins, and certain metabolites using biochemical, cytogenetic, or molecular methods or a combination of these methods.
The global genetic testing service market is segmented by type, disease, and service provider.Based on the type, the market is segmented into predictive testing, carrier testing, prenatal testing, newborn screening and others.
On the basis of disease, the market is classified as, cancer disease, metabolic diseases, cardiovascular diseases and others. Based on service provider, the market is categorized as, diagnostic laboratories, hospital-based laboratories and clinics.
The global Genetic Testing Service market, based on disease, has been segmented into cancer, metabolic disease, and cardiovascular disease among others.In 2019, the cancer based segment held the largest share of the market.
Cancer based segment is expected to register the significant growth during the forecast period due to the rising prevalence of cancer worldwide as about 10% to 20% of all cancers are related to gene mutations that are inherited or passed down through the family.
Some of the important primary and secondary sources included in the report are, the UK Genetic Testing Network (UKGTN), the Japanese Society for Genetic Counseling (JSGC), the European Cancer Information System among others.
Read the full report: https://www.reportlinker.com/p05875881/?utm_source=GNW
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