As cited by the research report titled ‘Genetic Testing Market Size By Test Type (Predictive Testing, Carrier Testing, Prenatal and Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, Nutrigenomic Testing), By Application (Cancer, Genetic Disease, Cardiovascular Disease), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global genetic testing market is projected to expand significantly over 2021 – 2027.
 

Increasing incidences of chronic disorders, rising usage of predictive genetic testing, and expanding product application in genetic diseases, cancer, and cardiovascular diseases among others are major factors driving global genetic testing market growth.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/1130965/
 

For the record, genetic testing is a medical test that identifies changes in genes, chromosomes, or proteins. It is extremely useful in many areas of medicine and can possibly transform medical care the individual or his/her family receives. These tests are generally performed on a sample of skin, amniotic fluid, hair, blood or any other tissue.
 

As per test type, global genetic testing industry is segmented into predictive testing, prenatal and newborn testing, carrier testing, diagnostic testing, nutrigenomic testing, and pharmacogenomic testing. Among these, predictive testing segment accounted for a 5% market share in 2020 and is likely to showcase remunerative growth rate over the estimated timeline, owing to increasing product preference.
 

Predictive genetic testing essentially identifies genetic mutations or any changes related to disease, even before the individual who might have any family history of a treatable genetic disorder shows any specific signs of a disease.
 

Speaking of application range, the marketplace is categorized into cancer, cardiovascular disease, and genetic disease. The report cites that the cancer segment amassed USD 7.5 billion market in 2020 and is poised to expand lucratively over the projected timeline, as genetic testing helps to predict the chances of developing cancer throughout an individual's lifetime.
 

Considering the regional frame of reference, global genetic testing market spans across Europe, Asia Pacific, Latin America, North America, and Middle East & Africa. Experts cite that Latin America accounted for 5.5% of the overall market share and is expected to witness significant growth over the assessment period owing to increasing incidences of chronic disorders across several countries of the region.
 

Prominent players influencing the industry dynamics are Cepheid (Danaher Corporation), Blueprint Genetics, deCODE Genetics (Amgen), bioMérieux SA, Bio-Helix Co. Ltd., Biocartis Group N.V., BGI Group, Ambry Genetics Corporation (Konica Minolta), Abbott Laboratories, 23andMe Inc., Siemens Healthineers AG, Roche Holding AG, Quest Diagnostics, Qiagen, Natera Inc., Myriad Genetics Inc., Luminex Corporation, Laboratory Corporation of America Holdings, Invitae Corp., Illumina Inc., and Eurofins Scientific SE.