Genetic Testing Market Size & Share 2021-2026, North America, Europe & APAC Industry Statistics with COVID-19 Impact Analysis: Graphical Research
Europe genetic testing market size to cross $5.5 billion valuation by 2026 | North American market to reach USD 15 Bn by 2026 | Asia Pacific industry to register 15% CAGR through the projected duration
Pune, India – August 4, 2021 /MarketersMedia/ —
Graphical Research has released a new research study on genetic testing market analysis 2021-2026 inclusive of one or more factors covering regional opportunities, application landscape, product demand trends, and end-use portfolio of the industry over the forecast timeframe. The report also outlines the competitive framework of the industry detailing the SWOT analysis and market share dominance of the prominent players.
The global genetic testing market is set to record phenomenal gains in the upcoming years, primarily attributed to the prominence of the below mentioned trends:
Massive inclination towards personalized medicines in Europe
The demand for personalized medications for different disease treatments has been on a rise lately. In fact, the developed economies such as Europe have been laying much focus on the use of these medicines as they offer disease specific relief and also help patients in reducing the pain, while simultaneously ensuring early recovery.
Speaking on which, Personalized Medicine Coalition had recently mentioned that 73% of oncology compounds and 42% of other compounds pose and ability to develop personalized medications. Not only this, the rising R&D activities in the field of personalized medicines is estimated to boost the demand for genetic testing in the European countries over the forthcoming years.
Access sample pages of the report, “Europe Genetic Testing Market Forecasts 2026” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1329/sample
Europe’s proliferating need for diagnostic testing
Surging adoption of technologically advanced genetic testing devices has propelled the business growth of diagnostic testing segment across the overall genetic testing industry. Industry analysts have claimed that diagnostic testing segment in Europe is set to record gains of 12% over the span of six years, post taking over a major share in the global industry in 2019.
Not to mention, organizations taking control of and supporting causes that aid diagnosis of genetic diseases implement certain strategic decisions. For instance, EURORDIS, an organization which is involved in laying down initiatives to spread awareness regarding diagnosis and treatment of genetic disorders, would have an impeccable impact on the global genetic testing business sphere.
Unprecedented surge in cancer cases across Canada
According to the Canadian Cancer Society statistics, Canada had recorded over more than 2 lakh cancer patients in 2019. This daunting number had potentially raised the demand for a proper treatment procedure and solutions, paving way for the adoption of genetic testing.
Industry experts have claimed that the genetic testing would help patients for proper treatment, while the rising healthcare expenditure in the country would open up new growth avenues for the overall genetic testing market in the country.
In this case, it would be essential to mention that Canada genetic testing market is set to depict a CAGR of 9% through 2026. Moreover, this growth is also likely to help North America genetic testing industry to account for an annual remuneration of USD 15 billion over the span of 2020 to 2026.
Access sample pages of the report, “North America Genetic Testing Market Forecasts 2026” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1330/sample
Enhanced demand for genetic testing in cancer diagnosis
Cancer, an infamous disease known to have claimed umpteen lives till date, has been calling out for proper diagnosis, generating subtle demand for genetic testing procedures. As per various reports, different types of cancers are being diagnosed with genetic testing in ovarian, breast, colon, thyroid, and other variations.
How these tests help in cancer diagnosis is that they estimate the chances of the disease development. The subject’s expanding prominence can also be determined or backed by its rising preference amongst clinicians and doctors due to the its successful outcomes. Given these factors, the cancer segment is poised to exhibit growth gains of 11% over the forecast timeframe.
Increasing prevalence of cardiovascular diseases in the APAC
Apart from cancer, genetic testing procedures have also come handy for the diagnosis of inherited cardiovascular diseases such as familial dilated cardiomyopathy, cardiac amyloidosis, brugada syndrome, and others. In fact, it has been observed that the slightest of mutation in genes can lead to fatal conditions like arteries blockage and affected blood flow to heart, which is expected to eventually result into heart diseases.
In such condition, the introduction of genetic testing in CVDs would help the patients as well as related family members to undertake precautions and treatments. Experts have suggested that genetic testing market from CVDs segment across the Asia Pacific region would grow at a rate of 16% through 2026.
Introduction of DNA testing devices across Japan
The introduction and adoption of DNA testing devices for diagnosing minutest mutation in the DNA across the states of Japan, has offered a positive growth impetus to Japan genetic testing business. As per credible reports, genetic testing market across the country is set to project a growth rate of 15.3% during the foreseeable time period.
Along with high preference being laid on DNA mutation diagnosis, the increased dependence of Japanese population on personalized medicines would allow the company to accrue notable gains in the Asia Pacific genetic testing market. APAC genetic testing market will portray a CAGR of 15.3% through 2026.
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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