Rising Awareness to Drive Global Genetic Testing Market

Tuesday 4 December 2012, Amsterdam

According to a new report, "Global Genetic Testing Market Forecast to 2015", the rising awareness and greater acceptance will drive the global genetic testing market to a brighter future. The genetic testing market has seen rapid evolution and greater acceptance has been observed in the market on account of the specificity that these tests offer. Molecular testing laboratories have significantly expanded their testing ranges over the past few years; thereby, creating strong demand for MDx tests. A promising area for development is the direct-to-consumer (DTC) genetic testing market. Due to negligible regulation, the number of companies offering DTC genetic tests has increased at a rapid pace in recent years.

The future growth is very promising for this industry and active participation of governments and private players is augmenting the revenue stream. The market is witnessing focus on companion diagnostics, boosted by the discovery of new biomarkers for oncology treatment.  Immense scope of personalized medicine is driving the market players to come up with innovative companion diagnostic tests. Overall, the global genetic testing market may grow at a healthy CAGR of around 26% during 2012-2015.

The report, "Global Genetic Testing Market Forecast to 2015", covers almost all the key aspects of the genetic testing market and broadly investigates the current trends that may impact the current and future performance of the industry. It prudently evaluates the consumer (physicians and users) behavior patterns with respect to Genetic Testing in the US and Canada and takes into account several key issues, such as privacy, regulations, cost etc. It also provides an optimum insight into the emerging sectors namely Next-Generation Sequencing and Genomic Biomarkers.

The report is an outcome of an extensive research and in-depth analysis of the global genetic testing market that enumerates key market driving factors and challenges to be tackled in future. Forecasts in key areas of the report takes into account effective methodologies and techniques that, in turn, seek to present a realistic projection. Overall, the report is likely to provide clients with an optimum source of knowledge, statistics, and insight on the same.