January 27, 2021
According to the research report titled ‘Global Pediatric Genetic Testing Market Analysis, 2020’, available with Market Study Report, global pediatric genetic testing market is predicted to record 14% CAGR during 2020-2026.
Increasing number of genetic disorders, escalating investment in research & development for innovations, and rising cognizance regarding newborn genetic testing are the key factors stimulating global pediatric genetic testing market growth. In addition, growing acceptance of genetic testing services, advancements of molecular techniques, and reduced cost of genetic testing are contributing to overall market remuneration.
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For those unversed, genetic testing is a kind of medical test which is used to detect variations in chromosomes, proteins, or genes.
Moreover, factors such as swelling sedentary lifestyle, mounting obesity cases among the population, escalating instances of cardiovascular diseases, and burgeoning elderly population are augmenting global pediatric genetic testing industry share.
Based on product landscape, worldwide pediatric genetic testing market is split into laboratory developed tests (LDT), reagents, and kits. As per sample type, the industry is segmented into bone marrow, tissue, blood, and saliva. Elaborating on technology scope, the market is classified into microarray techniques, polymerase chain reaction, fluorescent in situ hybridization (FISH), next generation sequencing, and others.
Speaking of disorder, the market is divided into neurological disorders, cardiovascular disorders, development disorders, and others. Global pediatric genetic testing market share from cardiovascular disorder segment is projected to record a strong CAGR over 2020-2025. This can be ascribed to cardiovascular diseases (CVDs) being the cause of most deaths worldwide, with over 17.9 million mortality rate annually.
Moving on to application spectrum, the market is categorized into academic & research, monitoring & screening, drug discovery, and clinical diagnostics. Considering the origin, the industry is bifurcated into somatic disorders, and inherited disorders.
Citing the geographical landscape, global pediatric genetic testing market is segmented into South America, North America, Europe, Middle East & Africa, and Asia-Pacific. The country-level fragmentation consists of Germany, Argentina, Mexico, United Kingdom, United States, Canada, Brazil, France, Italy, Australia, South Africa, South Korea, Japan, China, and India among others.
The competitive landscape of global pediatric genetic testing market is defined by Eurofins Scientific SE, Baebies Inc., OPKO Health Inc., Centogene N.V., PerkinElmer Inc., Genomic Diagnostics, Agilent Technologies Inc., Unilabs Group Services, Quest Diagnostics, Fulgent Genetics Inc., Thermo Fisher Scientific Inc., Trivitron Healthcare, Invitae Corporation, BGI Genomics Co. Ltd., and Abbott Laboratories.