2020 Future of Global DNA Testing Market, Size, Share and Trend Analysis Report to 2026- Growth Opportunities, Competition, Forecasts and industry Outlook
SOUTHLAKE, TX, UNITED STATES, December 5, 2019 /EINPresswire.com/ — DNA Testing Market is to grow at 10.51% of CAGR over the forecast period 2020-2026, finds OG Analysis. Based on factors, increasing need for DNA identification and HLA typing for therapy, demand for personalized medicine for the treatment of chronic diseases the growth of DNA Testing market value is estimated to reach benchmark records, notes Og Analysis.
Wide adoption of DNA testing by physicians for pre-implantation diagnosis, newborn genetic screening, pre-natal DNA carrier screening, infectious disease diagnostics to boost the growth of market value over the forecast period.
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Furthermore, semiconductor revolution combined with intense funds, DNA testing by sequencing is penetrating as fastest-growing segment in the DNA testing space. Accordingly, DNA Testing market emerges as the highest bidder for genomic data driven by intense market participants’ investments to extract genomic databases for analyzing genes reaction to different drug therapies.
Although there are many prospects in DNA testing market, market challenges including absence of direct-consumer sales, unclear reimbursement structure, and stringent government regulations related to DNA prototyping are yet to be addressed to expand the market size.
Technological overview of DNA testing market during the forecast period
By means of technology, the market segment includes microarray based, PCR based, in-situ hybridization, and NGS DNA diagnosis.
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PCR-based diagnostics is capturing macro market share driven by wide usage and presence of large number of key players offering PCR kits. With the potential of PCR to provide incredible sensitivity, reproducibility, and broad dynamic range as well as rising demand for in-vitro diagnosis, PCR emerges with strong market growth, by technology.
Further, PCR is limited by its cost and unavailability of adequate sample volume, to overcome these issues PCR multiplex (mPCR) is emerging as the next market growth segment.
Application market trends of DNA testing industry over the fiscal term
The market scope of market application is segmented as pre-natal DNA carrier screening, pre-implantation diagnosis, newborn genetic screening, infectious disease diagnostics, oncology diagnostics & histopathology, identity diagnostics & forensics, pharmacogenomics diagnostic testing, and drug metabolism.
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Presently, PGD and PGS are the most opted offered to the clients to avoid a high risk of having a child affected with a genetic disease prior to implantation.
Prospects of DNA testing market trends across key regions over the estimated period
Presence of sophisticated healthcare infrastructure and proactive funding channelized by both government and private biotech firms for DNA testing research thrust the DNA testing market across North America during the forecast term.
With novel technological adoptions and awareness programs on DNA and ancestry tests, the DNA testing market across the Americas to witness significant market growth in the medium to long term future.
Moreover, Australia, India, and other emerging countries set to harness lucrative market growth opportunities driven by higher accessibility of projected inhabitants to occurrence of long-lasting diseases. In addition, over strategic benefits, key market players to set up business in the DNA testing which contributes to revenue and market growth through 2026.
DNA testing Market participants can harness lucrative market growth opportunities
By launching new products and investing in R&D activities, accordingly, Roche invested CHF 11 billion on its R&D activities and posted sales of CHF 56.8 billion in 2018.
Further, the new user wave for ancestry tests can be explored by market participants during the forecast period. For instance, tests by Ancestry.com LLC allow consumers to get health information based on their DNA results hitting it in direct competition with top market player 23andMe. In addition, in 2019, MyHeritage launched the DNA Health+Ancestry test offering powerful and personalized health insights for consumers.
Furthermore, market participants can capitalize on market share with the availability of genomic data driven by blockchain. For instance, in 2018, Zenome builds a decentralized storage system that allows consumers to manage their own genomic data while maintaining privacy and provides access to research institutions and other bioscience businesses. Hence, key DNA testing market participants can innovative DNA testing systems and techniques to aid the diagnosis of genetic abnormalities by offering accurate results.
Key players in DNA testing market include GE Healthcare, 454 Life Sciences, Abbott Laboratories, Beckman Coulter Inc., Bio-Rad Laboratories, Thermo Fisher Scientific, Illumina Inc., Cephide Inc., Hologic, Transgenomic Inc., Siemens Healthcare, Roche Diagnostics, Qiagen, Illumina, Alere Inc, Affymetrix Inc., Agilent Technologies Inc., Dako, and Applied Biosystems Group.
1. Genetic Testing Market
2. Preimplantation Genetic Testing Market (https://www.oganalysis.com/industry-reports/216439/preimplantation-genetic-testing-market)
3. Recombinant DNA Technology Market (https://www.oganalysis.com/industry-reports/216457/recombinant-dna-technology-market)
4. DNA and Gene Chips Market (https://www.oganalysis.com/industry-reports/216209/dna-gene-chips-market)
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Source: EIN Presswire