“China is among the top Asian countries which have seen better penetration in the realm of genetic testing”, says RNCOS.
Noida, UP -- (SBWIRE) -- 02/02/2015 -- According to the latest research study conducted by RNCOS, the Global Genetic Testing market is poised to reach nearly US$ 5 Billion by 2018. In terms of regional level, the genetic testing industry in Asia is in nascent stage, evolving continuously particularly due to the growth of molecular biology applications, technological breakthroughs, and augmented health standards. Amongst the most common applications of genetic testing in Asia are infectious disease testing, child health and cancer risk studies. Countries such as Singapore and Japan have a well defined industry, while India and China are amongst the fastest evolving nations for genetic testing. A common trend in the Asian region is the growth of several DTC genetic tests.
Talking of the country level advancement in genetic testing, Singapore has developed widely. There are many genetic tests available on a clinical basis. A small proportion of the genetic test cases are patient driven and this tends to be in the area of carrier, pre-natal and pre-symptomatic diagnoses. On the other hand, Chinese genetic testing has also seen greater penetration in recent times. Research is also being actively pursued in China on genetic predisposition in a wide number of therapeutic areas. In India, while the genetic testing market was initially limited to very few organizations, the scenario now is rapidly changing with more and more laboratories owning advanced equipments and skilled expertise. With a vast population, increasing diseases and a parallel rise in scientific awareness, Asian countries possesses great potential for genetic testing.
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.
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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.