Genetic Testing Market Will Grow Consistently and Steadily

There is lot of changes in the medical sector and market. Many things are done now, which were not thought of in the olden days. All this has now become possible because of technological development and scientific advancement, there are different processes and procedures have come into being because of the changes and it has helped many people and is continuing to help the public in the field of medicines and diseases. One of the greater achievement was when we genetic testing came into being. It is nothing but a type of medical test that identifies changes in chromosomes, genes or proteins. This test confirms or rules out any kind of disorder that a person has or doesn’t have. There are different types of genetic testing:

1) Molecular genetic tests: it studies single genes or short length of DNA to identify variations or mutations that lead to a genetic disorder.
2) Chromosomal genetic tests analyze whole chromosomes or length of DNA to see if there are large genetic changes, such as an extra copy of chromosome, that cause a genetic condition.
3) Biochemical genetic test study the amount or activity level of proteins, abnormalities in either can indicate changes to the DNA that result in genetic disorder.

The global genetic testing market is forecast to reach USD $59.01 billion by 2020, it is driven by the rising incidence of genetic disease, growing awareness about the benefits of early diagnosis, and shifting focus of the healthcare community towards personalized medicine. Aging population, ease of getting affected by chronic disease is also expected to increase the demand for genetic testing. One of the largest and fastest growing markets worldwide in this industry is the United States with a projected CAGR rate of 9.51%. The growth in the country has become possible due to the development of new and advanced tests, as well as increase in demand for testing services due to evolution of better healthcare system which is focused on disease prediction, detection and prevention.

Global genetic testing market is vast and there are different services available in this heading. Many testing centers offer these services to the customers. It is divided on the basis of application and geography. By application the market is divided into cancer genetic testing market, prenatal genetic testing market, pharmacogenomics genetic testing market and predisposition cancer genetic testing market. By geography the market is classified into North America, Europe, and Asia Pacific. North America leads the genetic testing market followed by Europe.

DNA testing market has developed a lot and this testing is used for many different reasons. Many criminal cases are solved because of the testing and otherwise it is used for medical purposes. The global DNA market size was valued at USD 6,206.3 million in 2014. The reasons for its growth are rising incidence of genetic, infectious, chronic disease, reduction in pricing of genetic sequencing and growing adoption of precision medicine diagnostic techniques. This test helps understand the predisposition of diseases and one can give the right medicine for certain diseases.

Some of the key players in genetic testing market include Abbott Laboratories, Biocartis SA, Applied Biosystems Inc, Cerela Group, Auto Genomics Inc, Roche Diagnostics Limited, IntegraGen S.A, Transgenomic Inc, Molecular Inc and Luminex Corporation. These are few companies who excel in genetic testing and there methods and tests can be blindly relied on. Get the test done by reputable companies who are good at their work and will deliver the correct result without any negligence or mistake. Genetic testing market is growing by the day and will have a good share in the market in the future.

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