Genetic Testing Market: Witnessing Phenomenal Growth

“Genetic testing equipments account for roughly 50% share of the molecular testing equipment market”, says RNCOS.


Noida, UP -- (SBWIRE) -- 11/19/2014 -- RNCOS, in its latest research report titled “Genetic Testing Market Outlook 2018”, highlighted that the genetic testing equipment market is anticipated to grow at a CAGR of around 9% during 2013-2018. US occupied the largest share in the global genetic testing equipment market followed by Europe. The market is primarily growing on account of increasing knowledge base of consumers worldwide. Intense R&D activities focused on the genetic aspect are likely to propel the genetic testing market growth in the coming years.

Pharmacogenomics and personalization of medical treatment are perhaps the most important factors which are driving the genetic testing market growth. Genetic tests are guiding tools for decision making in certain areas and their use is likely to further expand its foothold over the next few years. Prenatal testing, pregnancy associated testing, infectious disease testing and oncology testing are some of the most common therapeutic areas for genetic testing.

Research Analysis and Highlights

Holistically, the research report “Genetic Testing Market Outlook 2018”, thoroughly discusses the global genetic testing industry in terms of the overall market size. Moreover, the disease wise and region wise analysis is also discussed in detail. Apart from the statistical data analysis highlighted above, qualitative data including the emerging sector for genetic testing industry and the government regulations are also elicited exhaustively. The competition across the global genetic testing sector is intensifying with the days passing by. With new service providers entering the market and accelerated R&D activities, the application of genetic testing and the industry as a whole, is bound to witness a swift growth in the years to come.

Some of the key findings of the report are:

- NGS is gaining swift acceptability world over
- Non-Invasive prenatal testing is penetrating the US rapidly
- Uprising of Direct-to-Consume genetic testing

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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.