Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Genetic tests are also described as medical devices available in the form of kits and panels which are applied for the testing genetic diseases in humans. Furthermore, the testing is carried out by collecting blood samples from patients. These samples are then run-on laboratory machines by the application of test kits. Moreover, there are various types of tests used for testing of genetic disorders. In another words, the genetic testing is a simple process in which DNA is extracted and put under the inspection. Through the process, the changes in the structure of chromosomes are identified and it made simpler to predict the kind of diseases.
The Asia Pacific genetic testing market is witnessing tremendous growth during the forecast period of 2021 to 2027. The genetic testing is also used in identification of level of susceptibility that a person has contracted. The key factors such as increasing demand for diagnostic testing is propelling growth of Asia Pacific genetic testing market. Growing number of cancer cases owing to genetic mutation is refuelling growth of Asia Pacific genetic testing market. The presence of large number of key players is also boosting growth of Asia Pacific genetic testing market. However, high cost of genetic testing is hampering growth of Asia Pacific genetic testing market.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the genetic testing market. In addition, complete analysis of changes on genetic testing expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Asia Pacific economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The COVID-19 has almost affected every market is healthcare industries positively or negatively. The genetic testing market is got hampered in somewhat manner as the COVID-10 is declared as global pandemic by World Health Organization and in various countries there is complete shutdown and guidelines regarding the social distancing are applied for prevention against the COVID-19 pandemic. Additionally, clinics are operating at limited capacities and reduced face to face genetic counselling for preventing against the COVID-19 viruses. Thus, the COVID-19 pandemic have the negative impact on the genetic testing market.
The Asia Pacific genetic testing market is segmented by type, technology, application and country.
The various type of genetic testing such as predictive & presymptomatic testing, carrier testing, prenatal & new born testing, diagnostic testing, pharmacogenomic testing and others are comprised in the Asia Pacific genetic testing market. The diagnostic testing is also contributing to the growth of Asia Pacific genetic testing market. In certain cases, genetic testing is used for confirmation of diagnosis when a particular condition is suspected based on physical signs and symptoms. Diagnostic testing may be performed before birth or at time during person’s life, but is not available for all genes or all genetic conditions.
The various technology such as cytogenetic testing, biochemical testing and molecular testing are comprised in the Asia Pacific genetic testing market. In which molecular testing is likely to dominate the market in 2020. The increasing use of molecular testing is propelling growth of Asia Pacific genetic testing market. The molecular testing is widely used as it can analyze the losses and gains in the DNA which are not detectable with common chromosome analysis.
The various application of genetic testing such as alzheimer’s disease, cancer, cystic fibrosis, sickle cell anaemia, duchenne muscular dystrophy, thalassemia, huntington’s disease, rare diseases and other are comprised in the Asia Pacific genetic testing market. In which huntington’s disease is also contributing to the growth of Asia Pacific genetic testing market. The huntington’s diseases is a progressive brain disorder which is caused by a defective gene. This disease causes changes in the central part of the brain which affects the movement, mood and thinking skills.
The Asia Pacific genetic testing market is studied for key countries such as China, India, Japan, Australia and South Korea. In which China followed by India and Japan are anticipated to dominate the market in 2020. The growing research and development activities is propelling growth of Asia Pacific genetic testing market. The rising burden of chronic genetic diseases is also boosting growth of Asia Pacific genetic testing market.
The major key player covered in the report are 23 & Me Inc., Abbott Laboratories, Myriad Genetics Inc., Danaher Corporation, Illumina Inc., Luminex Corporation, Biorad Laboratories Inc., Perkinelmer Inc., Quest Diagnostics Incorporated, F. Hoffmann-La Roche Ltd, Eurofins Scientific and Qiagen Nv among others.
November 2020: The FDA expanded the approval of cancer blood test, “Liquid Biopsy” which detects the genetic changes in tumour DNA in the blood and may help match patients for potential treatment.
August 2020: FDA approved the Guradant 360 CDx of Guardant health and foundation, it is the one liquid CDx of foundation medicine, which is used as a companion diagnostic test and general tumour profiling.
January 2020: The Quest Diagnostic, a US based clinical laboratory announced Finnish genetic testing company blueprint genetics for rising next generation sequencing capabilities for rare diseases.
May 2019: The Abbott laboratories announced the pre-approval of WHO for worlds first point of care viral load test, m-PIMA HIV-1/ 2 VL. The Abbott Laboratories have main products are comprised of the chromosome enumeration probes, FISH accessories and prenatal.
The report analyses the genetic testing market based on the type, technology, application and country. Various type of genetic testing are covered in the genetic testing market are predictive and presymptomatic testing, carrier testing, prenatal and new born testing, diagnostic testing, pharmacogenomic testing and other. By technology, the market is segmented into cytogenetic testing, biochemical testing and molecular testing. Based on application, the market is segmented into alzheimer’s diseases, cancer, cystic fibrosis, sickle cell anaemia, duchenne muscular dystrophy, thalassemia, huntington’s diseases, rare diseases and other. The report analyses the impact of COVID-19 on the genetic testing market and it is found that the COVID-19 has almost affected every market is healthcare industries positively or negatively. The genetic testing market is got hampered in somewhat manner as the COVID-10 is declared as global pandemic by World Health Organization and in various countries there is complete shutdown and guidelines regarding the social distancing are applied for prevention against the COVID-19 pandemic. Additionally, clinics are operating at limited capacities and reduced face to face genetic counselling for preventing against the COVID-19 viruses. Thus, the COVID-19 pandemic have the negative impact on the genetic testing market. The report also analysed major key players operating in the region.
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