North America Genetic Testing Market Analysis and Growth Estimates 2016-2021

(Medical-NewsWire.com, January 18, 2017 ) North America Genetic Testing Market is projected to reach USD 22.6 million by 2021, at a CAGR of 11.52% from 2016 to 2021.

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Genetic testing is the most rapidly escalating segment of the molecular diagnostics market worldwide. It is a medical test that identifies changes in genes, chromosomes, or proteins. Through genetic testing, a professional can confirm or rule out a suspected genetic condition or help determine a person’s chance of developing or passing on a genetic disorder. Currently, more than 1,000 genetic tests are in use, and more are in development phase.

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Increase in the awareness among the individuals about the benefits and the potentiality of genetic testing to identify and cure diseases or abnormalities is the main reasons for the genetic testing market to grow. In addition, increase in aging population, advancements of technology in the genetic testing space, subsequent increase in the cases of chronic diseases, and rising cancer case incidences are the few other factors aiding the growth of genetic testing market. However, factors like huge costs that are associated with genetic testing and the lack of standard procedure concerning the authenticity of genetic reports are hindering the growth of genetic testing market.

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The North America Genetic Testing market is segmented as follows

Based on Type:
• Carrier Testing
• Diagnostic Testing
• Prenatal Testing
• Neonatal Testing

Based on Application:
• Cancer Testing
• Prenatal Testing
• Pharmacogenomics Testing
• Predisposition Testing

Based on Country:
• USA
• Canada

The major companies operating in the United States Genetic Testing market include, Roche Molecular Diagnostics Inc., Abbott Molecular Inc., AutoGenomics Inc., Celera Group, ELITech Group, BioRad Laboratories, PerkinElmer Inc., Roche Diagnostics Corp., Quest Diagnostics Inc., Transgenomic Inc. and Applied Biosystems Inc.,

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The North America Genetic Testing Market study offers the following deliverables:

• Country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

• Study of the effect of exogenous and endogenous factors that affect the North America market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

• Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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