Market Analysis - Genetics 2020
Genetics Conferences 2020 welcomes all the attendees, Researchers, presenters, associations and exhibitors from everywhere the globe to London, UK. We have a tendency to square measure delighted to ask you all to attend the “14th International Conference on Genetic Disorders and Gene Therapy” that goes to be command on the month of November 25-26, 2020 at London, UK. This Congress Committee is exciting and informative conference program together with comprehensive lectures, symposia, workshops on informative topics, poster shows and numerous programs for participants from everywhere the globe. We invite you to Genetics 2020 conferences, to share purposeful expertise with scholars from round the world. We look forward to see you at London, UK.
Genetics is nothing but the study of genes, their capacities and impacts. Atomic genetics, formative genetics, populace genetics and quantitative genetics, and human genetics are different sorts of hereditary investigations. It incorporates the investigation of quality articulation, quality structure, transformation examination, cytogenetics and genomic imaging, genome structure and association, hereditary and physical mapping, malady affiliation contemplates, atomic diagnostics, genetics of complex illnesses, epistatic collaborations, and different ideas. It additionally decides different hereditary components in charge of ailments. It offers different points of interest, for example, distinguishing proof and determination and treatment of different illnesses, for example, malignant growth, cardiovascular sicknesses, and other hereditary maladies.
The size of the Global Genetic Testing Market is expected to reach $16.9 billion by 2025, rising over the forecast period with market growth of 11.2 percent CAGR. Genetic testing is the analysis of the gene-containing cells and tissues. Genetic testing is the study of the cells and tissues containing the gene
Key Market Trends: Molecular Testing Segment is expected to Exhibit Fastest Growth Rate over the Forecast Period.
To identify the mutations that lead to a genetic disorder, molecular genetic testing is the study of single genes or short lengths of DNA. The scope of the study discusses the use of gene testing for the development of personalized medicine, directed cancer therapy, and other genetic diseases. In addition to increasing performance and precision, new genetic testing techniques provide lucrative growth opportunities for the genetic testing industry. In addition, due to the growing patient ratio and awareness, the market is expected to witness exponential growth rates across emerging economies. One of the major trends in the genetic testing industry is the transfer in emphasis to bioinformatics on medical research.
Due to an increase in the incidence of genetic disorders & cancer and an increase in awareness and acceptance of personalized drugs, the global genetic testing market is expected to record significant development in the near future, the global genetic testing market is expected to record significant development.
The market for molecular testing is growing at a good pace. Currently, most of the molecular tests are either PCR or FISH. In addition, microarray technology has made it possible to evaluate thousands of loci that are widely used for expression analysis, targeted at specific cell signaling pathways, and also for metabolic pathways for pathological characterization of tumors.
Genetic Testing Market:
According to a study published by NCBI, about 75,000 genetic tests are available on the market as of August 217. These include nearly 10,000 separate exams. In addition, there have been more than 14,000 trials on the market since March 2014. With about 10 new tests increasing every day for more than four years, the market for genetic testing has gained momentum.
Importance & Scope:
Genetic Testing Market size was valued at USD 10.6 billion in 2017 and is expected to witness more than 11.6% CAGR from 2018 to 2024.
U.S. Genetic Testing Market, By Test Type, 2013 – 2024
Increasing demand from patients for personalized medicines will fuel the demand for genetic testing during the forthcoming years. Personalized medicine offers tailored medical treatment to patients based on their molecular basis. Various developed economies such as Europe undergo genetic testing for detection of various genetic and rare diseases. Detection of diseases at an early stage facilitates early treatment and helps reduce severity of diseases. Growing adoption of personalized medicines coupled with increasing awareness regarding early diagnosis of disease will boost the industry growth over the forecast period.
Technological advancement in genetic testing is expected to drive the genetic testing market during the coming years. The demand for genetic testing is increasing across the globe owing to the availability of new tests as well as advancement in the genetic testing techniques. Innovations in tests that offer safer and efficient techniques of disease detection, surpassing the risk of miscarriage during early stages of pregnancy will serve to be a high impact rendering factor that will drive the genetic testing market growth during the forthcoming years. Dearth of experienced professionals and advanced infrastructure in developing as well as under developed economies is should hamper the market growth over the forecast period. Accessibility to quality healthcare in low resource areas is difficult to maintain owing to lack of infrastructure. Moreover, risk of false interpretations associated with unavailability of experienced professionals will restrain industry growth noticeably.
Growing Demand for Personalized Medicine
Personalized medicine, where tailored therapy is made available to patients with an understanding of the molecular basis of diseases, has become popular over the recent years. Genetic testing and genome sequencing are two of the most important tools that are used to understand the molecular basis of a disease. European countries are screened for several genetic diseases, as an early detection of these diseases can prevent the onset of symptoms, or minimize the severity of the disease. Genetic testing for cancer diagnosis can indicate the predisposition of the disease in the gene, before its actual manifestation. This type of diagnostic technique enables a person to take precautionary steps, and avoid possible risks in the future.
Social and Ethical Implications of Genetic Testing
Insurance is an important asset to people. The fear of discrimination by insurance companies discourages people from undertaking genetic tests, which is a restraining factor for the market growth. The expensive nature of genetic tests affects the market, adversely. At times, the payments made by individuals are not reimbursed through insurance, thus, affecting the pockets of these patients. The high-import duty by the government on genetic tests kits also acts as a barrier to the market growth.
Target Audience: Genetic Industries
- Genetic researchers& Students
- Research Scholars
- Young Researchers
- Pharma Health care industries
- Business associates
- Genetics entrepreneurs
- Genetic associations
Related Associations and Societies
- Genetic Disease Foundation
- National Human Genome Research Institute
- American Association for Marriage and Family therapy
- The European Personalized Medicine Association
- European Alliance for Personalized Medicine
- Biotechnology Industry Organization
- American Medical Association
- Agilent technologies, USA
- Bio-Rad laboratories, USA
- Danaher, USA
- F. Hoffmann-La Roche, Switzerland
- General Electric, USA
- QIAGEN, Germany
- Thermo fisher scientific, USA
- BGI, China
- Pac Bio (Pacific Biosciences of California), USA
- Oxford Nano pore Technologies, UK
- GENEWIZ (Brooks Automation), Newjersy
- Vaiomer, France
- Takara Bio, Japan
- Sano Genetics, UK
- Genomics PLC, UK
- Dante Labs, Italy
- Fierce Biotech. UK