Genetic Analysis Services Market - Industrial Analysis and Forecast upto 2020
Albany, NY -- (SBWIRE) -- 11/10/2016 -- Genetic analysis is the study of genes or gene mutations done by conducting various laboratory experiments on the fundamental code of life i.e. DNA or RNA. These tests are usually performed to test either the possibility of the occurrence of a disease or simply to understand the errors in the metabolic system programming. However, the most prevalent and well known of these are forensic tests done to confirm a person/suspect's identity or to confirm genetic relation between multiple persons, the former being state judiciary's responsibility (criminal cases) and the latter done majorly for private reasons (paternity tests, etc). Beside these popular tests, genetic analysis is used for a number of scientific and academic research purposes. Genetic analysis has come a long way since GJ Mendel and Watson-Crick introduced the fundamentals of genetics, today it is the most diverse analytic study making it an eternal part of various diagnostic studies.
The technology required for genetic analysis has advanced in the last decade to an extent where every aspiring, amateur or experienced scientist can easily acquire the ingredients required to conduct an analysis of their own. There has been a spurt of new companies offering the services to customers at various price ranges depending upon the type of service, their degree of accuracy and detail. Services range from whole genome sequencing which is the most expensive and labor intensive, to the specific gene sequencing tests done mainly to study specific outcome possibilities such as genetic diseases and compatibility. These tests have been personalized to such an extent that nowadays these tests are performed even to check marital compatibility. With such highly customized services being offered, there is no proper structure or regulation in process to segment the market effectively.
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However, there are certain regulations such as the FDA, which prevent any private institutions from advising the client of potential possibility to be unwell in the future on the mere suggestion of genetic analysis alone. This is however under review with the US federal laws where private gene analytics companies protest the regulation with the idea of a citizen's right to information argument. In the future, the decision may go both ways allowing for a change in the service pattern.
Nevertheless, currently there is a huge potential for this market with the growing understanding of genes among individuals. Citizen today in majority do agree to the impact that a genetic study can have on their lives, such growing awareness is surely going to keep this industry hopping until the end of eternity. The major factor that plays into the profits of this industry is the availability of test chemicals, primers and equipment, though gene testing devices have evolved a lot in the ages, the chemicals have not changed since half a century. This along with the availability of trained genetic analysts governs the prices of the services that are provided to the customers who on their own vary from business establishment, hospitals and forensic labs to direct individual customers.
The largest market today in comparison with non-genetic tests is the developed nations of the North Americas, Europe and Australia. Among these, North America accounts for the largest market share and expected to lead the market during the entire forecast period of 2013 to 2019. However, Asia-Pacific region is expected to show an attractive growth rate in coming years. In Asia-Pacific, Japan and China occupy the highest market followed by the rest. Africa and South America are far behind in market share perspective.
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Some of the market players operating in this genetic analysis services market include Agilent Technologies, Life Technologies, GE Healthcare, Bio-Rad Laboratories, 23andMe, Roche Diagnostics Corporation, Illumina, Inc., Affymetric, Inc., Qiagen, N.V. and others.