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.
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Key Market Segments to Watch
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-
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicated market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Meticulous Research® produces global reports and custom studies for North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa regions. These reports are used by our clients for marketing and strategic planning in various sectors.
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