Tuesday, 14 May 2019

Global Transthyretin Amyloidosis Market to Quadruple by 2023; Foretells MRFR

The Transthyretin (TTR) amyloidosis market is expected to register a sturdy growth during the forecast period.  Transthyretin (TTR) amyloidosis is a medical condition characterized by the buildup of abnormal deposits of a protein called amyloid (amyloidosis) in a body's organs and tissues. It generally affects peripheral neuropathic or autonomic neuropathy system and cardiac system. The cardiac form of Transthyretin (TTR) amyloidosis puts patients at the risk of arrhythmia, cardiomegaly, and orthostatic hypertension. The global ATTR market is likely to exhibit a robust growth during the forecast period due to the probability of rising number of ATTR therapeutic drugs launches, increasing African-American population as they are genetically susceptible to amyloidosis, increasing healthcare awareness among people, and rising average income of individuals. However, the growth of this market can be hindered by stringent regulatory policies, the high cost of ATTR drugs, incorrect diagnosis of ATTR disorders and limitations of clinical trials. Lack of knowledge about this condition and unavailability of advanced diagnostic methods in the middle-income countries are the major challenges to the market.
Top Market Players
  • Alnylam Pharmaceuticals
  • Pfizer
  • Merck
  • Ionis Pharmaceuticals Inc.
  • Corino Therapeutics Inc
  • Arcturus Therapeutics
  • Proclara Bioscience
Market Segmentation                                                                                                                          
Based on region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. The American region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.
The global Transthyretin (TTR) amyloidosis market is segmented on the basis of disease type, treatment, gender, and end-user. Considering the type of disease, the market is segmented into Transthyretin (TTR) familial amyloid polyneuropathy, Transthyretin (TTR) familial amyloid cardiomyopathy, and others. On the basis of treatment, the market is segmented into small molecules treatment, RNAi therapy,  organ transplantation, and others. Small molecules treatment is further segmented into tafamidis and diflunisal. On gender basis, it is segmented into male and female. According to end-user, the market is segmented into hospitals and clinics, ambulatory surgical centers, and others.
Regional Market Summary
Americas dominates the market for Transthyretin (TTR) amyloidosis owing to the increasing prevalence of amyloidosis among adults and older population and rising geriatric population which is a major trigger factor for this disease. For instance, according to a report published by ASCO Journal in 2016 around 4,000 people developed amyloidosis each year in the United States. Thus, this rising patient pool is going to boost up the market growth during the forecast period. Additionally, factors such as increasing government initiatives and funding for research, development in advanced medical treatment options, and rising use of technologically advanced medical diagnostic devices are likely to drive the market. The presence of pharmaceutical giants such as Pfizer, Merck, etc. also propels the market growth in this region.
Asia Pacific is expected to be the fastest growing market. According to a report published by the United Nations in 2015the number of older people aged 60 years or over in the world is predicted to grow by 56% between 2015 and 2030, out of which 66% of the older population would reside in the Asia Pacific region. This makes the region prone to Transthyretin (TTR) amyloidosis as chances of its prevalence increases with the increasing age. Owing to a huge patient pool, a faster adaptation of healthcare technology, government initiatives to increase the healthcare quality, and availability favorable insurance and reimbursement policies, the market growth will be accelerated during the forecast period.  Moreover, key players such as Pfizer, Merck, etc. have been setting up their regional headquarters and manufacturing plants in countries such as Singapore, China, Japan, Korea, and Australia. Thus, the growth curve of the Transthyretin (TTR) amyloidosis market will see a positive trend of growth.
Europe is the second largest market and holds a healthy share in the global Transthyretin (TTR) amyloidosis market. The European market is expected to exhibit robust growth during the forecast period due to major driving factors such as availability of advanced treatment facilities, increasing healthcare expenditure along with growing need for better healthcare infrastructure, and government initiatives of healthcare reform.  It is reported that in the U.K., around 60 new cases of Transthyretin (TTR) amyloidosis are reported annually, and the age-specific incidence rate of it is between 5.1 and 12.8 per million per year. Additionally, established medical device market and capability of inhabitants to afford diagnostics are aiding the market growth. However, the inefficacy of treatment and wrong diagnosis are hampering the market growth of this region.
The Middle East and Africa is expected to show the least growth in the market due to some major factors such as lack of awareness and limited access and availability of treatment facilities. In the Middle East, the United Arab Emirates and Saudi Arabia are the largest markets owing to the development of the healthcare industry and rising availability of specialty care centers. But the market might show a steady growth due to the genetical susceptibility of Africans for transthyretin amyloidosis and government initiatives to improve the quality of healthcare in this region.


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Monday, 13 May 2019

Robot-Assisted Surgical Systems Market 2019 Market Challenge, Driver, Trends & Forecast to 2023

The Global Robot-Assisted Surgical Systems Market is projected to grow significantly over the forecast period. It is estimated that the global robot-assisted surgical systems market is expected to register a CAGR of ~10% during the forecast period of 2018–2023.
Medical robotics system is witnessing a change in trend over a couple of years due to technological upgradations in few areas such as HD surgical microscopic cameras, 3D-Imaging, motion sensors, data recorders & data analytics, robotic catheter control system (CCS), and remote navigation.
The increasing demand for accurate laparoscopic surgeries, growing need for surgical procedures in geriatric population and rising cases of trauma injuries is expected to drive the growth of the market.
Factors such as high cost associated with robotic surgical surgeries & robotic systems are limiting the growth of the market.
Moreover, major companies in the market are involved in new product launches to strengthen their position in the market. In May 2018, Intuitive Surgical received US FDA clearance for the da Vinci SP surgical system for urologic surgical procedures that are appropriate for a single port approach. The most frequently used da Vinci Surgical System developed by Intuitive Surgical Inc. uses an enhanced computer system capable of laparoscopic surgery.
Segmentation
The Global Robot-Assisted Surgical Systems Market is segmented on the basis of product, application, and end user.
The robot-assisted surgical systems market by product is categorized into surgical robots, rehabilitation robots, non-invasive radiosurgery robots, hospital and pharmacy robots, and emergency response robotic systems.
Surgical robots are divided into orthopedic surgical robots, robotic neurosurgical systems, and laparoscopy robotic systems. Orthopedic Surgical Robots is divided into an iBlock surgical system, Robodoc surgical system, Navio PFS surgical system, MAKO RIO surgical system, and Stanmore Sculptor surgical system. Neurosurgical Robotic Systems is divided into Pathfinder surgical system, NeuroMate surgical system, and Renaissance surgical system. Laparoscopy Robotic Systems is divided into FreeHand endoscope holder system, Da Vinci robotic surgery system, Telelap ALF-X surgical system, and Steerable Robotic Catheters.
Rehabilitation robots are categorized into assistive robots, prosthetics, orthotics, therapeutic robots, and robotic exoskeleton systems. Hospital and pharmacy robots are categorized into telemedicine robots, IV robots, pharmacy robots, and cart transportation robots.
Based on application, the robot-assisted surgical systems market is segmented into neurology, orthopedics robotic systems, laparoscopy, and special education.
On the basis of end user, the market is segmented into healthcare providers, healthcare payers, and others.
On the basis of region, the global robot-assisted surgical systems market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and Latin America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific. The robot-assisted surgical systems market in the Middle East and Africa has been segmented into the Middle East and Africa.
Key Players
Some of the key players in the global robot-assisted surgical systems market are Stryker Corporation (MAKO Surgical Corp.), Renishaw Plc, Varian, Accuray, Intuitive Surgical Inc, Health robotics S.R.L, Smith & Nephew Plc. (Blue Belt Technologies, Inc.), Auris Surgical Robotics, Inc. (Hansen Medical Inc.), KUKA AG, Mazor Robotics, Medtronic plc, THINK Surgical Inc., Zimmer Biomet Holdings Inc., Transenterix, Verb Surgical, Titan Medical, Microbot Medical, Medrobotics, and others.
Regional Market Summary
It is projected that the Americas dominated the global robot-assisted surgical systems market owing to the growth of the market in the North American region. This is largely attributed to factors such as well-established healthcare infrastructure and the increase in adoption of robotic surgical systems across various healthcare settings will support market growth in this region. Europe is expected to hold the second largest share in the robot-assisted surgical systems market owing to the introduction of advanced robot-assisted laparoscopic procedures and quality of treatment of existing and new medical indications.
Asia-Pacific was projected to be the fastest growing region for the global robot-assisted surgical systems market. With the growth of the overall robotics market in the region headed by technology giants like Japan and China, the availability of medical robots has also increased. In 2017, a robot performed the world’s first automated dental implant in China. The Middle East and Africa holds the least share in the global robot-assisted surgical systems market due to the presence of economically diverse countries, and fewer initiatives taken by the government.
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Research Report and Overview on Live Cell Encapsulation Analysis Market, 2019

The Global Live Cell Encapsulation Market is expected to grow significantly over the forecast period. It is estimated that the global live cell encapsulation market is expected to register a CAGR ~ 3.22% during the forecast period of 2018 to 2023, with an estimated market value of USD 249.87 million in 2017.
The global market is driven by factors such as rising demand for clinical efficacy of cell encapsulation technologies and growing awareness related to the clinical role of encapsulated cells to treat different chronic diseases. Additionally, encapsulation provides the durability and stability of the nutrient during handling and storage. Thus, such benefits of this technique are luring the competitors to enter the market.
On the other hand, the lack of skilled technicians, ethical issues, and unaffordability of research organizations and small-scale companies in certain economies is restraining the growth of live cell encapsulation market. Moreover, the availability of high-quality raw material is also restraining the growth of the market. Nevertheless, changes in regulatory policies and rise in demand for effective therapies to treat complicated disorders is expected to reduce the impact of barriers over the forecast period.
Moreover, major companies in the market are involved in strategic collaborations to brace their position in the market. For instance, in August 2018, Balchem Italia S.r.l., a wholly owned subsidiary of Balchem Corporation, acquired Bioscreen Technologies, S.r.l., a privately held manufacturer of encapsulated and fermented feed nutrition ingredients. With this, the company aims to expand its position in the market.

Segmentation
The Global Live Cell Encapsulation Market has been segmented into manufacturing technique, polymer type, and application. The market, based on manufacturing technique, has been segmented into simple dripping, electrostatic dripping, coaxial airflow, rotating disk atomization, and others. The market, by polymer type, has been further segmented into alginate, HEMA-MMA, Chitosan, silica, cellulose sulfate, PAN-PVC, and others. The market, by application, has been segmented into drug delivery, regenerative medicine, cell transplantation, and others. The drug delivery segment is expected to hold a major share owing to the increasing use of live cell encapsulation techniques in drug delivery systems. The segment of regenerative medicine is expected to be the fastest growing segment due to the rising trend and benefits of encapsulation in the tissue engineering field.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The live cell encapsulation market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada. The European live cell encapsulation market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The live cell encapsulation market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The live cell encapsulation market in the Middle East & Africa has been segmented into the Middle East and Africa.

Key Players
Balchem Corporation, Evonik Industries, Merck KGaA, BÜCHI Labortechnik AG, Lycored, Blacktrace Holdings Ltd., Living Cell Technologies, Reed Pacific Pty Limited, MiKroCaps, Biotime, Inc., Neurotech Holdings, LLC, Sernova Corporation, Encapsys, LLC, Sigilon Therapeutics, Inc., and Viacyte, Inc. are some of the key players in the global live cell encapsulation market.
Regional Market Summary
Geographically, the Americas is expected to dominate the global live cell encapsulation market due to the increasing per capita healthcare expenditure, and the heavy adoption of new technology.
Furthermore, rising expenses in research and development by healthcare bodies and the government is anticipated to drive thegrowth of the market in this region. Apart from this, increasing applications of regenerative medicine in the US is expecting to push the growth of live cell encapsulation market. For instance, According to the National Institutes of Health (NIH), approximately 5,00,000 Americans benefit from a transplant each year.
Europe showed a considerable amount of growth in the global live cell encapsulation market. The market growth in this region is because of the presence of a well-established healthcare system and increase in chronic diseases. For instance, according to cancer research UK, there were approximately 9, 921 cases of cancer diagnosed in 2015. Such high rates of cancer are likely to increase demand for the use of next-generation sequencing as well as increase the market demands for monoclonal bodies and cellular research. These factors are expected to have a positive impact on the live cell encapsulation market.
Asia-Pacific is expected to have a sturdy growth rate during the forecast period owing to the huge patient pool of chronic diseases and government initiatives of healthcare reforms. However, less capital investment is restricting the market growth of this region.
On the other hand, the Middle East & Africa has the least share of the market due to the low disposable income. Moreover, the limited adoption of advanced healthcare facilities and limited access to treatment facilities is also expected to drive the growth of the market in the near future.
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Soft Tissue Repair Analysis Market 2019–By Identifying the Key Market Segments and Key players holding market share

Market Scenario:
The Global Soft Tissue Repair Market is expected to grow significantly over the forecast period. It is anticipated that the market held a valuation of USD 5200 million in 2017 and is projected to register a CAGR of 6.2% over the forecast period.
The rising cases of sports-related injuries and technological advancements are some of the key factors driving the soft tissue repair market. For instance, in 2016, Colorado Therapeutics received FDA approval for its xenograft implant. The xenograft implant is designed for the surgical repair of damaged or ruptured membranes.
Various other factors such as increasing awareness about orthopedic disorders and other related conditions, improvement in reimbursement policies, untapped emerging markets, and increasing healthcare expenditure are also expected to propel the growth of the market.
However, the high cost of advanced equipment and a shortage of physicians in emerging markets can hamper market growth over the forecast period.
Segmentation
The global soft tissue repair market is segmented based on product, application, end user, and region.
the global market for soft tissue repair, by product, is segmented into fixation products, tissue patch/match, laparoscopic instrument, and others. The fixation products segment is further classified as a suture, suture anchors, and interference screw. The tissue patch/match segment is further classified as biological, and synthetic. The biological segment includes allograft and xenograft.
Based on application, the market is segmented into orthopedic surgery, skin repair, hernia repair, vaginal sling repair, dental reconstruction, cardiovascular surgery, breast reconstruction, and others.
Based on end user, the market is segmented into hospitals, clinics, research & academic institutes, and others.
In the current scope of the study, the segments mentioned above are covered into the four global regions, namely, the Americas, Europe, Asia-Pacific, and the Middle East and African region.
The soft tissue repair market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European soft tissue repair market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.  The soft tissue repair market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The soft tissue repair market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
The Americas dominated the global market for soft tissue repair owing to the increasing healthcare expenditure presence of major market players and rising geriatric population within the region. As per the data suggested by the United Census Bureau, by 2060, the US is projected to grow by 79 million people, from about 326 million today to 404 million. The population is projected to cross the 400-million threshold in 2058.
In 2017, it was estimated that Europe stood second in the global soft tissue repair market. Robust research and development (R&D) sector along with the availability of funding opportunities in research and innovation will support the market growth.
Asia-Pacific (APAC) is expected to represent the phenomenal market growth throughout the forecast period due to increasing demand for medical technology, growing health awareness, and growing aging population coupled with the rising prevalence of orthopedic diseases in India, Japan, and Australia. For instance, according to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), in 2016, around 12.4% of the population in the region was 60 years or older and is projected to reach to more than 1.3 billion by 2050.
On the other hand, the Middle East and Africa held the least share in the global soft tissue repair market due to the low economic development, especially within the African region.
Key Players
Some of the key players in the global soft tissue repair market are Stryker Corporation, C.R. Bard, Inc., Arthrex, Inc., Integra LifeScience Corporation, Depuy Synthes, Smith & Nephew plc, Allergan Plc., Athersys, Inc., CryoLife, Inc., Medtronic Plc., Organogenesis Inc., Zimmer Biomet Holdings, Inc., Lifenet Health, Inc., American Medical Systems Inc., U.S. Stem Cell, Inc., Wright Medical Group, Inc., Isto Biologics, and others.
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Friday, 10 May 2019

Atherectomy Devices Market Segmentation Detailed Study with Forecast Up To 2019

The global atherectomy devices market is projected to grow significantly over the forecast period. It is estimated that the global atherectomy devices market is expected to register a CAGR of 6.12% during the forecast period of 2018–2023, with an estimated market value of 1.09 billion in 2017. Atherectomy is a minimally invasive endovascular surgery technique. Atherectomy devices, such as catheters are used to remove atherosclerosis from the blood vessels.
The rising demand for minimally invasive technologies, coupled with the increase in the coronary and peripheral arterial diseases is expected to drive the growth of the market. Also, the high efficiency rate of the atherectomy devices is estimated to boost the growth of the intraocular lens market. According to the data published in 2015 by the Centers for Disease Control and Prevention (CDC), about 7,35,000 Americans have a heart attack annually. Factors such as post-operative complications, and lack of skilled medical professionals are limiting the growth of the market.
Moreover, major companies in the market are involved in new product launches to strengthen their position in the market. For instance, in June 2018, Biomerics, a medical device contract manufacturer announced the acquisition of FutureMatrix Interventional, Inc. The company aims to expand its portfolio of interventional catheters used in cardiovascular and urology fields, thus strengthening its position in the market.
Segmentation
The global atherectomy devices market is segmented on the basis of product type, application, and end user.
Based on application, the atherectomy devices market is segmented into cardiovascular, neurovascular, peripheral vascular, and others.
The atherectomy devices market, by product type is categorised into directional atherectomy systems, orbital atherectomy systems, photo-ablative (laser) atherectomy systems, rotational atherectomy systems, and others.
The directional atherectomy systems segment is expected to hold the largest share owing to the high treatment rate, whereas the photo-ablative (laser) atherectomy systems is expected to be the fastest growing segment owing to the growing preference by surgeons.
On the basis of end user, the market is segmented into hospitals, ambulatory surgery centers, and others.
On the basis of region, the global atherectomy devices market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and Latin America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific. The atherectomy devices market in the Middle East and Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Asia-Pacific was projected to be the fastest growing region for the global atherectomy devices market. This owes to the technological advancements resulting in the development of cost-effective atherectomy devices leading to high acceptance rate for the devices in the Asia-Pacific region. The Middle East and Africa holds the least share in the global atherectomy devices market due to the presence of economically diverse countries, and less initiatives taken by the government.
It is projected that the Americas dominated the global atherectomy devices market owing to the growth of the market in the North American region. This is largely attributed to the factors such as increase in research funding, and growing awareness about the high-end atherectomy devices among medical professionals. Europe is expected to hold the second largest share in the atherectomy devices market owing to growing healthcare infrastructure. Additionally, various initiatives by public and private organizations is anticipated to boost the growth of the atherectomy devices market.
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Injectable Drug Delivery Devices Market Revenue, Opportunity, Forecast and Value Chain Analysis 2019

Market scenario:
Market Research Future (MRFR) in their latest report on the injectable drug delivery devices market claimed that the market could achieve such a feat. Injectable drug delivery devices are tools that helps in effective drug delivery into the body and creates an opportunity for the drug to work quickly.
The injectable drug delivery devices market is expected to receive substantial market traction due to the sleek designs and simplicity in application. Other than these factors, the market can gain more from rapidly increasing FDA approval of new products. Its being self-injectable is making it easier for several patients to take up these tools and keep their disease in check. These factors are for sure to trigger the global injectable drug delivery devices market.
The Global Injectable Drug Delivery Devices Market is to record 11.5% CAGR owing to its ease of application during the forecast period (2018-2023).
Competitive Landscape:
  • Antares Pharma,
  • AstraZeneca,
  • Eisai Co., Ltd.,
  • Becton,
  • Dickinson and Company,
  • Eli Lilly and Company,
  • Pfizer Inc.,
  • Hoffmann-La Roche AG,
  • Mylan N.V.,
  • Johnson & Johnson Services Inc.,
  • Novo Nordisk,
  • Novartis AG,
  • Teva Pharmaceutical Industries Ltd.,
  • Sanofi,
  • Inovio Pharmaceuticals Inc.
Segmental Analysis:
The Global Injectable Drug Delivery Devices Market has been segmented on the basis of devices, therapeutic application, usage pattern, site of delivery, distribution channel, facility of use, and region. Based on devices, the injectable drug delivery devices market has been segmented into conventional injection devices and self-injection devices. The conventional injection devices segment commands the major share of the global injectable drug delivery devices market and. The conventional injection devices segment has been sub-segmented into material, product, and utility. The self-injectable devices segment has been sub-segmented into needle-free injectors and pen systems and autoinjectors.
Based on therapeutic application, the market has been segmented into autoimmune diseases, hormonal disorders, cancer, and others. The autoimmune diseases segment is projecting dominance over the global injectable drug delivery devices market and is expected to reach the valuation of USD 19,913.7 Mn by the end of the review period. Based on usage pattern, the global injectable drug delivery devices market has been segmented into curative and immunization. The curative segment is expanding at the fastest growth rate in the global injectable drug delivery devices market during the assessment period.
Based on site of delivery, the injectable drug delivery devices market has been segmented into intramuscular, subcutaneous, and intradermal. The intramuscular segment commands the largest share of the global injectable drug delivery devices market. Based on distribution channel, the market has been segmented into hospital & retail pharmacies and online platforms. The hospitals & retail pharmacies segment is leading the global injectable drug delivery devices market. Whereas, the online platform segment is anticipated to expand at the fastest CAGR of 11.4% during the assessment period. Based on facility of use, the injectable drug delivery devices market has been segmented into hospitals and clinics, home care settings, and others.
Regional Analysis:
The global injectable drug delivery devices market, based on region, has been segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa. The market in the Americas is leading the global injectable drug delivery devices market and is anticipated to reach the valuation of USD 17,401.8 Mn by the end of the assessment period at the CAGR of 11.3%. Rapid expansion of biotechnological industry, increased prevalence of chronic diseases such as diabetes and cancer and high healthcare expenditure in the well-developed healthcare sector are majorly propelling the expansion of the injectable drug delivery devices market in this region.
Europe commanded for the second largest market share in the year 2017 and is anticipated to reach the valuation of USD 13,074.3 Mn by the end of the assessment period at a CAGR of 11.2%. Increased funding for R&D and easy adoption of technologically advanced healthcare solutions are fueling the expansion of the injectable drug delivery devices market in the Europe region. The Asia Pacific region is anticipated to register the fastest growth at a CAGR of 11.4% owing to the rising demand for therapeutics in the evolving healthcare sector in the emerging economies of this region. Lack of awareness and less exposure to primary healthcare services in the underdeveloped countries are leading to the slow growth of injectable drug delivery devices market in the Middle East and Africa region.
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Genetic Testing Market - Market Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2023

The Global Genetic Testing Market is expected to grow at CAGR of 11.50% to reach USD 22834.19 million till 2024. Some of the protuberant drivers supporting the growth of the global genetic testing market are identified as raising awareness about the benefits of genetic testing and the rising prevalence of genetic disorders.
Additionally, the role of genetic tests in forensic investigations and change in the trend of the genetic testing industry from service-driven to product-driven industry are expected to drive the global genetic testing market in the coming years.
Genetic testing is also known as DNA testing. Genetic tests involve a set of lab tests for the study of the genetic makeup of patients and identify any gene mutations and alterations in the healthy structure of DNA leading to the development of genetic disorders. Genetic testing offers a lot of benefits such as the chance for taking preventive measures to avoid potential diseases and lead a healthy life, knowledge about genetic alterations in the fetus that may lead to abnormal growth, and aids forensic investigations, among others. Due to the great benefits provided by these tests, people are getting more aware of them. This phenomenon intrigues people to go for tests to understand their genetic structure and possible disorders they may have to go through. The growing awareness has gathered a lot of audience for the genetic testing market and has also positively impacted the growth of this market.
Moreover, there has been tremendous growth in the prevalence of genetic disorders which may be due to various reasons such as geographical and environmental changes, change in food habits, pollution, and exposure to harmful radiations or chemicals. Genetic tests are also used to analyze family relations such as father, mother, half-brother, half-sister, and others. Forensic science and genetic testing have aided law and order to a great extent. With an increasing number of companies entering into this segment, the overall market for genetic tests has increased and expected to grow fast in the near future.
Segmentation                                                                                                                                        
Global genetic testing Market, by type, segmented into prescribed genetic testing and direct to consumer genetic testing. Prescribed genetic testing is the leading segment, which is growing at the highest CAGR to reach USD 21653.91 million by the end of 2024. Its large market share is majorly attributed to the widespread availability and service providers of various genetic tests and less availability of direct to consumer tests in all parts of the world.
Based on method, the genetic testing market is segmented into molecular genetic tests/ DNA tests, chromosomal genetic tests, and biochemical genetic tests. The molecular genetic test/DNA tests account for major share with 11.78% CAGR during the forecast period. Molecular testing helps to determine the sequence in DNA or RNA related to a particular disease.
The genetic testing market, by application, is segmented into reproductive health, cancer screening, ancestry, predictive and pre-symptomatic testing, and others. The reproductive health segment accounted for the largest market share of 33.61% in 2018.
Key Players
The prominent players in the global genetic testing market are Abbott Laboratories (US), Bio-Rad Laboratories, Inc. (US), Illumina Inc. (US), Myriad Genetics, Inc. (US), PerkinElmer Inc. (US), QIAGEN N. V.  (Germany), Quest Diagnostics Incorporated (US), Eurofins Scientific (US), F. Hoffmann-La Roche Ltd (Switzerland), Blueprint Genetics (Finland), BGI Genomics (China), and Thermo Fisher Scientific Inc. (US).
Some of the key strategies followed by the players operating in the global genetic testing market were innovation, product development, acquisition, and expansion.
  • In April 2017, Myriad Genetics, Inc. signed an agreement with Clovis Oncology for the use of its FDA-Approved BRACAnalysis CDx Test to identify patients with germline BRCA Mutations for the Rubraca (rucaparib) treatment.
  • In January 2017, Bio-Rad Laboratories, Inc. announced the launch of the Single Cell Sequencing Solution in collaboration with Illumina Inc.
  • In August 2016, Abbott Laboratories launched Alinity, a family of next-generation system.
Regional Analysis         
The Americas accounted for the largest market share of the global genetic testing market, by region in 2018. This large share is majorly due to high awareness about genetic testing, high disposable income of the population, and implementation of newborn screening in the majority of the hospitals in the region. In 2015, approximately 12 million Americans suffered from genetic diseases which are approximately 1 in 20 people.
Europe accounted for the second largest market share. Technological advances, well-developed health care sector, and governmental support for the research and development of different tests and devices have provided fuel for the growth of the market. Germany commands the largest market share in the Europe genetic testing market.
Asia-Pacific is the fastest growing region for genetic testing. The presence of a huge patient population, rapid development in technology, and the presence of huge opportunities for the development of the market drive the growth of the Asia-Pacific genetic testing market. The Middle East & Africa accounted for the 8.8% market share in 2018.
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