(I-BusinessNews.Com, August 03, 2022 ) Meticulous Research® – one of the leading global market research companies published a research report titled “Clinical Genomics Market by Test Type (Diagnostic, Genetic, Newborn Screening, Prenatal, Carrier Screening), Software, Method (Molecular, Chromosomal, Biochemical Tests), End User (Hospitals & Clinics) – Global Opportunity Analysis and Industry Forecast to 2023”
The Driving Forces in the Clinical Genomics Market
According to this latest publication from Meticulous Research®, the global clinical genomics market will grow at a CAGR of 17.1% from 2018 to 2023 to reach USD 879.0 million by 2023, driven by growing significance of early disease detection and prevention, rising insistence for precision medicine, increasing application of genetic testing in oncology, and favourable reimbursement scenario related to genetic testing. However, the enormous cost of genetic testing, and social and ethical implications hinders the growth of clinical genomics market to some extent.
The global clinical genomics market is mainly segmented by test type (diagnostic testing, genetic testing, newborn screening, prenatal testing, preimplantation testing, carrier screening and other tests), software, method (molecular tests, chromosomal tests, biochemical tests), end user (hospitals & clinics, government laboratories & research centers, academics and research institutes and other end users) and geography.
Regional Market Growth Trends
Geographically, the global clinical genomics market is segmented into North America (U.S. and Canada), Europe, Asia Pacific, and Rest of World. North America held the major share in the global clinical genomics market, followed by Europe, and Asia-Pacific. Public awareness regarding genetic testing, high burden of chronic and infectious diseases, increasing R&D expenditure, and various government initiatives are the major factors fueling the growth of market in North America. However, Asia-Pacific region possesses lucrative growth potential for the clinical genomics market during the forecast period. This is mainly attributed to the increasing population, rising rate of diseases, and various government initiatives for the genomic research to understand the complex biological process and genetic mutations present in life-threatening diseases, which can reduce rising rate of chronic diseases and infectious diseases in this region.
Leading Companies in the Global Clinical Genomics Market
The key players in the global clinical genomics market are Quest Diagnostics Incorporated (U.S.), Eurofins Scientific SE (Luxembourg), Illumina, Inc. (U.S.), PerkinElmer, Inc. (U.S.), NeoGenomics Inc. (U.S.), Foundation Medicine, Inc. (U.S.), Rosetta Genomics Ltd. (Israel), Invitae Corporation (U.S.), Myriad Genetics, Inc. (U.S.), Natera, Inc. (U.S.), Genomic Health, Inc. (U.S.), OPKO Health, Inc. (U.S.), Centogene AG (Germany), Clinical Genomics Pty Ltd. (Australia), 23andMe, Inc. (U.S.), Iverson Genetic Diagnostics, Inc. (U.S.), Veritas Genetics (U.S.), Gene by Gene, Ltd. (U.S.), GenomeDx Biosciences, Inc. (Canada), MedGenome (India), Strand Life Sciences Pvt. Ltd. (India), Beijing Genomics Institute (BGI) (China), Retrogen, Inc. (U.S.), Personalis, Inc. (U.S.), and PathGroup (U.S.).
Key questions answered in the report-
Which are the high growth market segments in terms of test type, method, end user, and regions/countries?
What is the historical market for clinical genomics across the globe?
What are the market forecasts and estimates from the period 2016-2023?
What are the major drivers, restrains, opportunities, challenges and trends in the global clinical genomics market?
Who are the major players in the global clinical genomics market and what share of the market do they hold?
Who are the major players in various regions and what share of the market do they hold?
What are the competitive landscapes and who are the market leaders by sub-region in the global clinical genomics market?
What are the recent developments in the global clinical genomics market?
What are the different strategies adopted by the major players in the global clinical genomics market?
What are the geographical trends and high growth regions/countries?
What are the local emerging players in the global clinical genomics market and how do they compete with the global players?
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