Europe Genetic Testing market was valued at US$ 2,472.0 Mn in 2020 and it is projected to reach at US$ 4,262.4 Mn by 2027, at a CAGR of 8.5% during the forecast period.
Major factors accounting for this growth include the increase in incidences of genetic, infectious & chronic diseases, reduction in prices of genetic sequencing, rising adoption of precision medicine diagnostic techniques. Genetic testing is defined as medical test which detect changes in proteins, genes or chromosomes. The test results are able to confirm a speculated underlying genetic condition or aid in determining an individual’s chance of developing/ passing on a genetic disorder.
Get Sample Copy of this Report @ https://qualiketresearch.com/request-sample/Europe-Genetic-Testing-Market/request-sample
Market Drivers: Increasing focus of government for genetic testing awareness
The growing focus by governments of several countries, to regulate& create awareness regarding genetic tests, has successfully resulted in the faster adoption of these tests worldwide. The rise in Research & Development funding, with the strong market presence by major players in the market, has created a strong entry barrier for new entrants. The increasing innovation in product design, improvement in quality, and strong distribution partnerships are key factors to retain a competitive edge in the market.
Rising demands for newborn and pre-natal screening to detect congenital abnormalities, growing application of bio banking services that involve DNA testing as a crucial step for cord blood banking are further attributive for progress in this sector. Growing Physicians’ interest towards genetic testing in order to determine patient’s health at various stages of disease development is another factor anticipated to fuel demand in the coming years.
Factors such as increasing implementation of personalized medicine applications to treat chronic disorders enhancing the need for HLA typing & DNA identification for therapy are expected to further add to the growing demand for DNA diagnostics. Moreover, hi-tech advancements which result into commercialization of next generation diagnostic & testing solutions making use of genetic analysis are anticipated to positively impact on Europe genetic testing market growth.
Europe Genetic Testing Market Share Analysis by Technology
Based on Technology, the Europe genetic testing market is categorized intoCytogenetics Testing, Biochemical Testing and Molecular Testing.
Cytogenetic testing segment is the second highest revenue generating technology in Europe genetic testing market. The growth is attributed due to rise in healthcare expenditure that has resulted in the increasing use of cytogenetic products in clinical and research laboratories, academic research institutes, and pharmaceutical and biotechnology companies. Also, cytogenetic is used in the development of targeted cancer treatment, personal medicine, and others. Currently, a wide range of techniques such as comparative genomic hybridization, fluorescence, karyotyping, and others are employed for the screening of genetic abnormalities and cancers. These techniques employ the use of cytogenetic products including media, kits, reagents, and others. This factor is expected to drive the Cytogenetic testing segment over the forecast period.
Get discount on this report @ https://qualiketresearch.com/request-sample/Europe-Genetic-Testing-Market/ask-for-discount
Europe Genetic Testing Market Share Analysis by Type
Based on type segment, the Europe genetic testing market is categorized into Carrier Testing, Diagnostic Testing, Newborn Screening, Predictive & Presymptomatic Testing, Prenatal Testing and Others.
Diagnostic Testing has accounted for the highest market share in 2020. This is due to rising incidence of genetic and other chronic disorders. As per the information published on World Health Organization (WHO), the increase in prevalence of inherited diseases like sickle cell anemia, cystic fibrosis and hemophilia will contribute the overall market size for genetic tests. Additionally, early disease diagnosis further allows patients to undergo therapeutic treatment at an early stage that minimizes the severity of disease leading to reduced mortality rate and hence proving beneficial for the segment expansion.
Europe Genetic Testing Market Share Analysis by Disease
Based on Disease segment, the Europe genetic testing market is categorized into Alzheimer’s Disease, Cancer, Cystic Fibrosis, Sickle Cell Anemia, Duchenne Muscular Dystrophy, Thalassemia, Huntington’s Disease and Others.
Cancer disease has accounted for the highest market share in 2020. Genetic testing is very helpful to estimate the chances of developing cancer throughout an individual’s lifetime by examining for specific changes in chromosomes and genes, proteins. Cancer, globally, is the 2nd leading reason of death, and approximately70% of deaths from cancer occurs in low- and middle-income countries which raises the demand for genetic testing. As, significant enhancements can be made in the lives of cancer persons by diagnosing at an initial stage & avoiding postponements in care resulting in reduced morbidity, less expensive treatment & greater probability of surviving. This factor creases the demand for genetic testing for cancer.
Europe Genetic Testing Market Share Analysis by Country
Germany, The U.K., Italy and France are top country in Europe genetic testing market. These countries collectively accounted for more than 50% of market share in 2020. The presence of developed healthcare infrastructure, strong government initiatives and proactive funding for genetic testing research, and high prevalence of chronic diseases are the major drivers for industrial growth in these countries.
Other European countries is expected to create significant opportunity in genetic testing due to rising research incentives provided by the government in developing economies of this region that enable R&D and commercialization of technologically advanced products. Moreover, higher availability of target population owing to the incidence of chronic diseases in this region is also expected to supplement growth in the coming years.
The Europe Genetic Testing Market is segmented into type such as Carrier Testing, Diagnostic Testing, Newborn Screening, Predictive & Presymptomatic Testing, Prenatal Testing, and Others. On the basis of Disease, market is segmented into Alzheimer’s Disease, Cancer , Cystic Fibrosis, Sickle Cell Anemia, Duchenne Muscular Dystrophy, Thalassemia , Huntington’s Disease, and Others. Further, market is segmented into technology such as Cytogenetic Testing, Biochemical Testing, and Molecular Testing.
Also, the Europe Genetic Testing Market is segmented into various countries such as Germany, UK, France, Turkey, Switzerland, Norway, Sweden, Spain, Italy, Denmark, Finland, Iceland, Poland, Luxembourg, Netherlands, and Belgium.
Market Key Players
Various key players are listed in this report such as Abbott Laboratories, Illumina Inc., Eurofins Scientific, Qiagen, Elitech Group, Thermo Fischer Scientific, Centogene AG, Blueprint Genetics, 23andMe Inc., F. Hoffmann-La Roche Ltd, etc.
- Carrier Testing
- Diagnostic Testing
- Newborn Screening
- Predictive & Presymptomatic Testing
- Prenatal Testing
- Alzheimer’s Disease
- Cystic Fibrosis
- Sickle Cell Anemia
- Duchenne Muscular Dystrophy
- Huntington’s Disease
- Cytogenetic Testing
- Biochemical Testing
- Molecular Testing
Browse Full Research Report @ https://qualiketresearch.com/reports-details/Europe-Genetic-Testing-Market
QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which helps our clients outperform their competition.