Global Genomic Testing Market By Type (Breast Cancer, Lung Cancer, Blood Cancer, Liver Cancer), By Distribution Channel (Hospitals, Diagnostic Laboratories, Cancer Research Centers, Academic & Research Institutes, Specialized Clinic),By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Genetic testing is a group of tests used to find variations in human DNA. The results of a genetic test along with other assessments are used to confirm or rule-out a certain genetic condition. It can also be used to see if an affected person has a risk of passing on a genetic disorder to his or her offspring. Genetic tests are often carried out using a blood or cheek swab sample. The same can be applied using hair, saliva, skin, or other tissue samples.

Genomic testing, like genetic testing, looks for gene faults to determine the cause of a genetic condition. If no gene faults are discovered by testing one gene or a panel of genes, all 20,000 genes can be tested to see if the condition’s cause can be identified.

Genomic testing may be able to detect the cause of a genetic problem in a shorter amount of time when compared to traditional forms of testing. Technological advancements have allowed for a wider integration of genomics into healthcare delivery systems from screening and molecular diagnostics to the accurate identification of microorganisms and the ability to prescribe and track the efficiency of more precise medication.

Detailed Segmentation

The global genomic testing market is segmented on the basis of – Type, Distribution Channel, and Region.

Based on Type

• Breast Cancer
• Lung Cancer
• Blood Cancer
• Liver Cancer
• Other Types

Based on Distribution Channel

• Hospitals
• Diagnostic Laboratories
• Cancer Research Centers
• Academic & Research Institutes
• Specialized Clinics

Based on Regions

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics

The increasing prevalence of breast cancer and lung cancer is a key factor that is expected to drive the revenue growth of the genomic testing market over the forecast period. Furthermore, a greater impact caused by various cancer awareness campaigns by Non-Governmental Organisations (NGOs) is anticipated to boost the revenue growth of the cancer genomic testing market. Moreover, major manufacturers are now focusing on the development of novel cancer genomic testing methods are expected to boost this market’s revenue growth prospects over the forecast period.

The FDA’s strict regulatory framework may hamper the economic growth of the genomic testing industry. Furthermore, a lack of awareness of cancer genomic testing among individuals, particularly in developing countries, may restrain this market’s further revenue growth.

Key Players:

• Bio Rad Laboratories Inc.
• Myriad Genetics Inc.
• Thermo Fisher Scientific Inc.
• Agilent Technologies Inc.
• 23andMe Inc.
• Illumina Inc.
• Quest Diagnostics Inc.
• Myriad Genetics Inc.
• Positive Bioscience
• CENTOGENE AG
• Laboratory Corporation of America Holdings
• Other Key Players

Key Developments

• Myriad Genetics broadens access to genetic testing with the launch of the first polygenic breast cancer risk assessment score approved for women of all ancestries.
• Illumina Inc. and Genetic Alliance launch US$120 million global initiative to increase equity and improve outcomes for families impacted by genetic diseases.
• CENTOGENE AG and Twist Bioscience to develop advanced sequencing tools to make genetic testing rapidly accessible for more patients with rare diseases.
• CENTOGENE AG expands partnership with Agios Pharmaceuticals Inc. to generate novel insights into rare blood diseases.
• Labcorp of America Holdings acquired Myriad Autoimmune’s Vectra Testing Business from Myriad Genetics.

For the Genomic Testing Market research study, the following years have been considered to estimate the market size: