The North America genetic testing market is expected to register a CAGR of 11.52% during the forecast period, 2018 to 2023. The US has the largest market share for genetic testing in the North American region due to screening of the genetic mutations with the Cystic Fibrosis Trans-Membrane Conductance Regulator (CFTMR) which is the most recurrently conducted test in the US.
Increasing Emphasis on Early Disease Detection and Prevention
Many genetic disorders can be detected early in pregnancy, using various invasive and non-invasive techniques. With technological developments, physicians have become capable of performing tests with better accuracy, and looking at multiple genes at a time. Consumer demand for safe and effective genetic tests is fueling the growth of this market. Additionally, growing demand for the personalized medicine and increasing application of genetic testing in oncology are also resulting the growth of the North America Genetic Testing Market.
High Costs of Genetic Testing
Cost has always been a barrier to the growth of market studied. A few genetic tests, such as pre-implantation testing (pre-implantation genetic diagnosis (PGD)), fecal DNA testing, and others are expensive, and are not usually covered by insurance providers. For instance, the BRCA gene evaluation performed by Myriad Genetics, the only company in the United States, is phenomenally expensive, with a price close to USD 4,000, when a related genomic-rearrangement test is included in the analysis, which is typically recommended by oncologists.
Additionally, social and ethical implications of genetic testing and non-inclusion of reimbursement policies are hindering the growth of the North America Genetic Testing Market.
USA to dominate the market
The North America genetic testing market is segmented into by type and geography. By type, the market is segmented into the carrier, diagnostic, newborn, predictive and presymptomatic, and prenatal testing. By geography, the market is segmented into the US, Canada, and Mexico.
Key Developments in the Market
- January 2018: Agreement between Biocartis a molecular diagnostics company and Amgen biotechnology Company for novel oncology compound.
- December 2017: Agreement between Biocartis a molecular diagnostics company and Amgen biotechnology Company for idylla RAS Biomarket tests
REASONS TO PURCHASE THIS REPORT
- Current and future Genetic Testing Market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The treatment type that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet in excel.
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1.1 MARKET DEFINITION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. KEY INFERENCES
5. MARKET OVERVIEW
5.1 CURRENT MARKET SCENARIO
5.2 PORTERS FIVE FORCES
5.2.1 BARGAINING POWER OF SUPPLIERS
5.2.2 BARGAINING POWER OF CONSUMERS
5.2.3 THREATS OF NEW ENTRANTS
5.2.4 THREAT OF SUBSTITUTE PRODUCT AND SERVICES
5.2.5 COMPETITIVE RIVALRY WITHIN THE INDUSTRY
6. DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES ANALYSIS (DROC)
6.1 MARKET DRIVERS
6.1.1 INCREASING EMPHASIS ON EARLY DISEASE DETECTION AND PREVENTION
6.1.2 GROWING DEMAND FOR THE PERSONALIZED MEDICINE
6.1.3 INCREASING APPLICATION OF GENETIC TESTING IN ONCOLOGY
6.2 MARKET RESTRAINTS
6.2.1 HIGH COSTS OF GENETIC TESTING
6.2.2 SOCIAL AND ETHICAL IMPLICATIONS OF GENETIC TESTING
6.2.3 NON-INCLUSION OF REIMBURSEMENT POLICIES
6.4 KEY CHALLENGES
7. Market Segmentation
7.1 SEGMENTATION BY TYPE
7.1.1 CARRIER TESTING
7.1.2 DIAGNOSTIC TESTING
7.1.3 NEWBORN SCREENING
7.1.4 PREDICTIVE AND PRESYMPTOMATIC TESTING
7.1.5 PRENATAL TESTING
7.2 SEGEMENTATION BY GEOGRAPHY
7.2.1 NORTH AMERICA
22.214.171.124 UNITED STATES
8. COMPETITIVE LANDSCAPE
8.1 MERGERS AND ACQUISITION ANALYSIS
8.2 AGREEMENTS, COLLABORATIONS & PARTNERSHIPS
8.3 NEW PRODUCTS LAUNCHES
9. COMPANY PROFILES
9.1 23ANDME INC.
9.2 ABBOTT MOLECULAR INC
9.3 ARIOSA DIAGNOSTICS INC
9.4 BIOCARTIS SA
9.6 ILLUMINA INC
9.7 LUMINEX CORPORATION
9.8 SEQUENOM INC
9.9 MYRIAD GENETICS
9.10 TRANSGENOMIC INC.
10. FUTURE OUTLOOK OF THE MARKET