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18 August 2022

Douglas Insights Adds Hereditary Testing Market Research Reports to Its Comparison Engine

Douglas Insights has further expanded its comparison engine with Hereditary Testing Market research reports, allowing market researchers, analysts, industry experts, and businesses to identify market trends, drivers of growth, limitations, obstacles, and predictions. Douglas Insights is the world's first comparison engine for market research reports. With access to the widest range of private and public market reports, the digital tool lets researchers compare various reports by Publisher Rating, Table of Contents, Date of Publication, and Price.

 

The global hereditary testing market took a hit with the outbreak of the SARS-COV2 virus but is expected to expand significantly in the near future, with an estimated compound annual growth rate of 9.2% between 2022 and 2030. Reproductive genetic testing is identified as the key market driver. Within it, hereditary non-cancer testing remains the dominant segment. In terms of market players, Europe was the leading player in 2021 with the largest revenue share and is expected to maintain its position during the forecast period of 2022 to 2030. Europe's lead in the market is attributed to three key factors - the widespread adoption of advanced medical treatments, government agencies providing recommendations to ensure the quality of hereditary testing services, and the presence of major players that offer genetic testing services and kits. 

 

While Europe is predicted to retain its lead in the global hereditary market until 2030 (at least), North America will also experience a good boost in revenue with improvements in genetic testing for hereditary disorders. The region will also emerge as a key market player due to the rising demand for IVF, increasing adoption of pre-implantation testing, and an ever-increasing number of people wanting to identify their lineage. The use of genetic testing for cancer detection, increasing prevalence of infectious, autoimmune diseases, ongoing research and advancements that lead to the availability of new, better products and technology are the major factors driving the hereditary testing market in North America. 

 

The increasing prevalence of hereditary disorders, the spread of cancer, and rising awareness about the role of gene mutation in disease occurrence are the key drivers of growth in the global genetic testing market. Advancements in hereditary testing techniques and technology are also expected to propel growth in the said market during the forecast period, and so do the gradually rising demand for hereditary testing in developing countries. The untapped markets and increasing healthcare investments in China, India, and Brazil will also offer several opportunities for major market players. However, stringent requirements for product approvals and concerns over the standardisation of hereditary testing-based diagnostic procedures are expected to pose challenges and may also affect the genetic testing market growth. The lack of skilled professionals in developing and underdeveloped countries and the high cost of hereditary testing are also expected to pose challenges to market expansion and growth by limiting the availability and rate of adoption.

 

Some of the key global players in the hereditary testing market include Natera, Inc., Myriad Genetics, Inc., Quest Diagnostics Incorporated, Invitae Corporation, F.Hoffmann-La Roche Ltd., Illumina, Inc., MedGenome, CooperSurgical, Inc., Twist Bioscience, Fulgent Genetics, Inc., Sophia Genetics, Agilent Technologies, Inc., Laboratory Corporation of America Holdings, Thermo Fisher Scientific, Inc., and CENTOGENE N.V.

 

In terms of hereditary testing services, the ones that make up the major market share include diagnostic testing, pre-symptomatic or predictive testing, prenatal testing, newborn testing, carrier testing, pharmacogenetics testing, and nutrigenomics. Diagnoses of cancer, cardiovascular diseases, and genetic diseases are the predominant applications for hereditary testing.

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