The global hereditary testing market size is expected to reach USD 8.9 billion by 2026, expanding at a CAGR of 6.3% over the forecast period, according to a new report by Grand View Research, Inc. Key factors driving the market are declining cost of sequencing and availability of genetic tests at a lower price. Furthermore, the availability of niche and fragmented point-solutions across genomics value chain, namely sequencing, analytics, interpretation, aggregation, and marketplace, is anticipated to propel the market growth over the forecast period.
The
advent of direct-to-consumer genetics is anticipated to play a major role in
the genetic testing market by enabling individuals to carry out self-testing.
This expands the role of genetic counselors, which further aids in
understanding the importance of genetic tests and helps in the selection of
appropriate tests. A growing number of registered genetic counselors is
anticipated to boost the adoption of hereditary genetic tests in the coming
years.
Technology
developers are introducing advanced products to enhance the efficiency of
genetic tests by diagnostic companies. For example, in June 2019, QIAGEN
launched a new QIAseq Expanded Carrier Screening Panel, a novel Next-generation
Sequencing (NGS) panel integrated with advanced bioinformatics solutions for
rare and inherited diseases testing. Such ongoing developments in the market
space are expected to boost revenue growth to a large extent in the coming
years.
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Hereditary Testing
Market Report Highlights
- A substantial number of CLIA-certified
laboratories perform tests to determine whether an individual carries an
inherited mutated gene that can cause cancer. This has led to increased
hereditary testing market share of hereditary testing for cancer in 2019
- Breast cancer testing segment has dominated the
hereditary cancer testing market owing to its high penetration and
increased inheritability
- On the other hand, most of the cases of cervical
cancer are non-hereditary, resulting in the lowest revenue share of this
segment
- Emergence of high-throughput sequencing has
resulted in commercial availability of a significant number of sequencing
assays for cardiomyopathies, thereby driving the cardiac diseases segment
- Non-invasive Prenatal Testing (NIPT) and newborn
genetic screening continue to witness lucrative growth due to increased
adoption across the globe
- Moreover, the newborn screening program has been
made mandatory in several regions and countries, resulting in large share
of these test types among the hereditary non-cancer testing segment
- Europe and North America collectively accounted
for nearly 70% of the revenue generated in 2019 owing to assisted
reproductive technology space coupled with high penetration of newborn
genetic screening
- Myriad Genetics, Inc.; Quest Diagnostics
Incorporated; Invitae Corporation; Illumina, Inc.; and Natera, Inc. are
some of the major key players operating in the marketplace
- These companies are engaged in securing
regulatory approval in the emerging countries to expand their business
footprint
- A substantial number of diagnostic companies have
collaborated with technology developers to obtain technology license and
deliver high value services to their customers.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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