interior design service market
“The Business Research Company recently published a comprehensive report on the global Genetic Testing Services market size and trend analysis with forecasts from 2024 to 2033. This latest market research report provides a comprehensive report on the global market size, It provides a wealth of valuable insights and data, including regional shares, and forecasts.”It also covers current trends, future opportunities, and key data to succeed in the industry.
According to The Business Research Company, the market size for genetic testing services has grown rapidly in recent years. It is expected to grow from $17.29 billion in 2023 to $19.19 billion in 2024, at a compound annual growth rate (CAGR) of 11%. Growth during this historical period is due to increased demand for personalized and precision medicine, increased prevalence of genetic diseases, high demand for prenatal testing during pregnancy, population growth, and increased awareness and education. This is considered to be the cause.
The market size for genetic testing services is expected to grow rapidly in the coming years. It is expected to grow to $29.47 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. Growth over the forecast period is driven by rising demand for non-invasive prenatal testing (NIPT), the rise of pharmacogenomics, increased focus on preventive medicine, increased direct-to-consumer (DTC) testing, and rare disease and personalized therapies. Key trends over the forecast period include advances in artificial intelligence (AI) and machine learning, easy-to-use test kits and online platforms, next-generation sequencing, microarray analysis, polymerase chain reaction (PCR), and advanced medical infrastructure. Masu.
Get full scope of report @
https://www.thebusinessresearchcompany.com/report/genetic-testing-services-global-market-report
Market drivers and trends:
The increasing prevalence of genetic diseases is expected to drive the growth of the genetic testing services market in the coming years. Genetic disorders are conditions caused by abnormalities in an individual’s DNA that cause physical or developmental abnormalities. The increase in the prevalence of genetic disorders can be attributed to factors such as increased awareness, improved diagnostic techniques, expanded genetic screening, and increasing trends in consanguineous marriages in some populations. Genetic testing services are increasingly being utilized in diagnosis, prognosis, and treatment decision-making for individuals with genetic diseases, allowing for personalized medical care and family planning strategies based on an individual’s genetic makeup. For example, in February 2023, according to the World Health Organization (WHO), the Switzerland-based United Nations specialized agency responsible for global public health, an estimated 240,000 people worldwide died within 28 days of birth due to congenital diseases. The infant is presumed dead. Additionally, approximately 6,000 babies are born with Down syndrome each year in the United States, which equates to 1 in 700 babies, according to the Centers for Disease Control and Prevention, a U.S.-based government agency. Thus, the increasing prevalence of genetic diseases is driving the genetic testing services market.
Leading companies operating in the genetic testing services market are focused on developing advanced technological solutions such as cancer screening tests to improve accuracy, expand testing capacity, and improve overall patient outcomes. Cancer screening tests are regular tests performed on people without symptoms to detect early signs of cancer. These tests are designed to identify cancer or precancerous conditions before symptoms appear, making treatment more effective. For example, in June 2022, Prenetics Group Limited, a Hong Kong-based diagnostic and genetic testing company, launched ColoClear, a non-invasive stool DNA test, in Hong Kong. This provides a sensitive screening method to detect early signs of colorectal cancer. . This innovative test combines advanced fecal DNA technology with fecal immunochemical testing (FIT) to provide a convenient and effective alternative to colonoscopies. ColoClear demonstrated a sensitivity of 96% in detecting colorectal cancer and 64% in detecting advanced adenomas in clinical studies.
Key benefits for stakeholders:
• Comprehensive market insights: Stakeholders have access to detailed market statistics, trends, and analysis that help them understand the current and future status of the industry.
• Informed decision-making: Reports provide critical data to support strategic decision-making, reduce risk, and enhance business planning.
• Competitive Advantage: Detailed competitor analysis and market share information allows stakeholders to identify opportunities to outperform the competition.
• Customized Solutions: Business Research Company provides customized reports that address your specific needs and ensure that your stakeholders gain relevant and actionable insights.
• Global Perspective: The report covers different regions and markets, offering a broad perspective that helps stakeholders expand and succeed in their businesses globally.
Ready to dive into something exciting? Get a free exclusive sample of our research report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=15385&type=smp
Major key players in the market:
F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics Incorporated, Eurofins Scientific SE, SGS SA, Agilent Technologies, Hologic Inc., Illumina Inc. , PerkinElmer Inc., bioMérieux SA, Bio-Rad Laboratories Inc., QIAGEN NV, Natera Inc., Myriad Genetics Inc., BGI Genomics Co. Ltd., Invitae Corporation, NeoGenomics Laboratories Inc, 23andMe Holding Co, Berry Genomics Co. Ltd , Pacific Biosciences of California Inc, Ambry Genetics Corporation, Biocartis SA, CENTOGENE NV, Blueprint Genetics Oy, Igenomix, Veritas Genetics
Key Insights of Genetic Testing Services Market in 2024:
• The market size for genetic testing services is expected to grow rapidly in the coming years. It is expected to grow to $29.47 billion by 2028 at a compound annual growth rate (CAGR) of 11.3%.
• Increasing prevalence of genetic diseases drives genetic testing services market growth
• Advances in cancer screening tests by major genetic testing companies
• North America will be the largest region in the genetic testing services market in 2023
Provide customized reports. Click @.
https://www.thebusinessresearchcompany.com/Customise?id=15385&type=smp
Learn more about business research companies
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence company known for its expertise in business, market, and consumer research. With a global presence, TBRC’s consultants specialize in a variety of industries including manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insight and strategic guidance to clients around the world. I am.
inquiry:
business research company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
follow me:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ”
This release was published on openPR.
