Absolute Market Insights recent analysis of the Predictive Genetic Testing and Consumer Genomics Market finds that the increasing demand from the The predictive genetic testing and consumer genomics market is driven by the increasing prevalence of cardiovascular disease such as diabetes, and genetic disorders around the globe aids the market growth. is expected to witness maximum growth in the Predictive Genetic Testing and Consumer Genomics Market during the forecast period. The global Market revenue stood at a value USD 5,090.4 Mn in the year 2021.
Market Synopsis
Predictive genetic testing is the use of a genetic test in an asymptomatic person to predict future illness risk. These tests are part of a new and rapidly expanding class of medical tests that are fundamentally different from traditional medical diagnostic examinations. Genetic testing provides details information about a person’s genetic history. Newborn screening, carrier testing, prenatal testing, preimplantation testing, predictive and presymptomatic testing, forensic testing, and additional types of genetic testing are among them.
Predictive Genetic Testing and Consumer Genomics Market on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behaviour such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Predictive Genetic Testing and Consumer Genomics Market is predicted to grow at a CAGR of roughly 14.00% during the forecast period.
- The Predictive Genetic Testing and Consumer Genomics Market was estimated to be worth roughly 5,090.4 Mn in 2021 and is expected to reach USD 16,644.7 Mn by 2028; based on primary research.
- On the basis of region, is projected to dominate the worldwide Predictive Genetic Testing and Consumer Genomics Market.
Market Dynamics:
Industry Analysis:
The report covers exhaustive analysis on the global Predictive Genetic Testing and Consumer Genomics Market. Industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.
Drivers:
Growing consciousness of the rewards of predictive genetic testing, as well as the emergence of Next-generation Platform Sequencing (NGS), are anticipated to push the predictive genetic testing & consumer genomics market growth over the forecast period.Predictive testing can detect mutations that raise a person’s chance of acquiring genetic illnesses, such as cancer. These tests can be useful for persons who have a family relative who has a genetic illness but doesn’t exhibit any symptoms of the disorder at the time of testing.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities worldwide were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pervasive might lead to a significant delay in the commercial roll-out of the packaging industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Quarterly Market Revenue Forecast 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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The Report on Predictive Genetic Testing and Consumer Genomics Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historical Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America held the highest share of the worldwide predictive genetic testing and consumer genomics market in 2021, owing to increased research & development in this region and increased awareness among the people related to genetic testing. Furthermore, the availability of advanced technologies and the presence of major players in this region contribute to the growth of the North America region in the market.
List of Prominent Players in Predictive Genetic Testing and Consumer Genomics Market:
- 23andMe, Inc.
- Abbott
- Agilent Technologies, Inc.
- Avellino.com
- BGI
- Color Health, Inc.
- F. Hoffmann-La Roche Ltd
- Gene by Gene, Ltd.
- Illumina, Inc.
- Labcorp.
- Mapmygenome
- Myriad Genetics, Inc.
- Quest Diagnostics, Inc.
- Thermo Fisher Scientific
- Other Market Participants
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Predictive Genetic Testing and Consumer Genomics Market?
- How will the Predictive Genetic Testing and Consumer Genomics Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Predictive Genetic Testing and Consumer Genomics Market?
- What is the Predictive Genetic Testing and Consumer Genomics Market drivers and restrictions?
- What will be the CAGR and size of the Predictive Genetic Testing and Consumer Genomics Market throughout the forecast period?
This market titled Predictive Genetic Testing and Consumer Genomics Market will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Market Size Provided for Years: 2016-2028
Base Year: 2021
Historic Years: 2016-2020
Forecast Years: 2022-2028
Segmentation Covered:
- By Type
- Predictive Testing
- Presymptomatic Testing,
- Predispositional Testing
- Consumer Genomics
- Predictive Testing
- By Application
- Cardiovascular Diseases,
- Pregnancy care,
- Breast and Ovarian Cancer,
- Prostate cancer,
- Colon Cancer,
- Neurogenetics,
- Ocular Diseases,
- Diabetic Screening and Monitoring,
- Hereditary Cancer,
- Others
- By Setting Type
- Direct to Consumer (DTC),
- Clinics, Hospitals,
- Others
Region & Counties Covered
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Report Coverage
- Market growth drivers
- restraints, opportunities
- Porter’s five forces analysis
- PEST analysis
- Value chain analysis
- Regulatory landscape
- Technology landscape
- Patent analysis
- Market attractiveness analysis by segments and Regional
- Company market share analysis
- COVID-19 impact analysis
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