Worldwide Hereditary Genetic Testing Industry to 2030 – Rise of Direct-to-Consumer Testing Services Presents Opportunities – ResearchAndMarkets.com -…

Posted: July 30, 2020 at 6:55 pm

DUBLIN--(BUSINESS WIRE)--The "Global Hereditary Genetic Testing Market: Focus on Product, Sample, Technology, Genetic Testing Type, Application Area, Country Data (16 Countries), and Competitive Landscape - Analysis and Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

Hereditary genetic testing has grown significantly since the technology was first commercialized, but it is important to quantify that growth and describe future trends. The genome testing industry is proliferating, and its growth is expected to continue at its torrid pace. However, there are significant challenges that may dampen future growth if not addressed.

Our healthcare experts have found hereditary genetic testing to be one of the most rapidly evolving technologies, and the global market for hereditary genetic testing is predicted to grow at a CAGR of 13.59% over the forecast period of 2020-2030.

The unmet clinical needs for better tools to predict, diagnose, treat, and monitor disease are acting as significant factors driving the growth of the sequencing industry. Other factors driving the growth include the increased understanding of the molecular basis of disease, patient demand, industry investment, and regulations that allow marketing of tests without FDA approval.

Despite rapid advanced sequencing industry growth, there are several key issues that are needed to be addressed to facilitate future growth. The relatively high total costs of delivering sequencing test results compared with other technology platforms, and limited coverage by payers, are the key challenges to the growth of this industry. Whole-genome and exome sequencing remain relatively costly requiring initial equipment investment, specialized workforce requirements, and time-intensive variant interpretation.

Within the research report, the market is segmented on the basis of oncology genetic testing, cardiology genetic testing, neurology genetic testing, product, sample, application area, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.

Market Dynamics

Drivers

Challenges

Opportunities

Key Questions Answered in this Report:

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/ry89nq

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