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 testing is also called as DNA testing which is primarily used for identification of changes occurred in the DNA sequence or chromosome structure. Genetic testing can also include analysing the result of genetic changes like RNA analysis as an output of gene expression or through biochemical analysis to measure special protein output. In a medical setting, genetic testing may be used for diagnosis or rule out suspected genetic disorders, prediction of specific risk or used for customization of medical treatment which is based on individual genetic makeup. It can be also used for determination of biological relatives such as child’s parentage by the use of DNA paternity testing.
The Europe genetic testing market is witnessing rapid growth during the forecast period of 2021 to 2027. The variety of genetic tests has developed throughout years. Early forms of genetic testing which began in 1950’s involved counting the number of chromosomes per cells. The key factors such as rising incidences of chronic diseases such as cancer, cardiovascular and others is propelling growth of Europe genetic market. The rising prevalence of obesity owing to adoption of a sedentary lifestyles is also boosting growth of Europe genetic testing market. However, cost of installation of equipment is restraining the growth of Europe 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 Europe 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 Europe genetic testing market is categorised by type, technology, application and country.
Based on type, the Europe genetic testing market is segmented into the predictive & presymptomatic testing, carrier testing, prenatal & new born testing, diagnostic testing, pharmacogenomic testing and others. In which pharmacogenomic testing is also contributing to the growth of Europe genetic testing market. The pharmacogenomics tests are useful in the evaluation of DNA of person for studying how they may metabolize or respond to medications. The pharmacogenomics testing helps guide healthcare providers in selection of medication and dosing. It also used for deciding which medications are avoided by the patients.
Based on technology, the Europe genetic testing market is bifurcated into the cytogenetic testing, biochemical testing and molecular testing. In which biochemical testing is also contributing to the growth of Europe genetic testing market. The biochemical genetic testing is the study of enzymes or proteins in the body which may work differently and lead to things like birth defects in children. The rising mortality rate due to genetic disorders is propelling growth of Europe genetic testing market.
Based on application, the Europe genetic testing market is categorised into the alzheimer’s disease, cancer, cystic fibrosis, sickle cell anaemia, duchenne muscular dystrophy, thalassemia, huntington’s disease, rare diseases and other. In which cystic fibrosis is also contributing to the growth of Europe genetic testing market. The cystic fibrosis is an inherited disorders which causes inherited disorders that causes severe damage to the lungs, digestive system and other organs in the body. The cystic fibrosis is a chronic, progressive and frequently fatal genetic diseases of mucus glands of the body.
The Europe genetic testing market is studied for key countries such as United Kingdom, Germany, France, Italy and Spain. In which United Kingdom is anticipated to dominate the market in 2020. The rising healthcare infrastructure is propelling growth of Europe genetic testing market. The growing burden of chronic diseases is also boosting growth of Europe genetic testing market. The growing product launch by key players is also refuelling growth of Europe 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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