Navigation Links
Genetic Testing Market to Exceed $6.6 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

Global Genetic testing market is projected to grow at a healthy pace to exceed $6.6 billion by 2015. The market is primarily driven by growing incidence of genetic diseases and growing consumer awareness and rising interest towards genetic testing.

San Jose, CA (PRWEB) October 30, 2008 -- Genetic testing, which of-late has been transforming itself from service driven to product-driven market is expected to provide an impetus to diagnostic companies with respect to expansion of their operations. Genetic testing market has been witnessing a rise in demand from various quarters, which include medical, paternity & forensics departments, immigration & insurance sectors and DNA banks.

Rising demand and rapid progress in the field of genetic testing has been the prime reason for US maintaining its leading position. The United States and Europe collectively account for about 83% of the global Genetic testing Market, as stated in a recent report published by Global Industry Analysts, Inc. Increasing emphasis on the need to develop new and more effective testing methods is projected to further propel the market growth. Pharmacogenomic Testing market in the US is projected to record the fastest growth at a CAGR of 25% for the period 2000-2010. Genetic tests to screen the newborns are expected to expand immensely over the coming years and have profound effect on clinical outcomes. The early detection of genetic disorders would significantly reduce morbidity as well mortality rates. The market for prenatal and new-born genetic testing market in the US is estimated at US$622 million for 2008.

The genetic testing market is however not devoid of challenges. Factors such as cost and the level of authenticity engaged in screening and detecting methods employed by physicians remain questionable. As each individual's genetic structure differs so do preferences, there is a need to develop a method that can be customized as per individual needs. Another challenge that the industry faces is the urgent need to employ standard regulations with regard to procedures employed during the genetic testing process.

Genetic testing market is highly competitive with several players vying for the market pie. The influx of new players into the lucrative market is further intensifying market competition. Key players profiled in report include Abbott Molecular Inc., Applied Biosystems Inc., AutoGenomics Inc., BioRad Laboratories, Celera Group, Clinical Data, Inc., Genzyme Genetics, Orchid Cellmark, Inc., PerkinElmer Inc., Quest Diagnostics Inc., Roche Diagnostics, Corp., Roche Molecular Diagnostics Inc. and Sciona Ltd.

The report titled "Genetic Testing: A Global Strategic Business Report" published by Global Industry Analysts, Inc. presents comprehensive analyses of major markets including the US, Canada, Japan, Europe and Rest of World. The report offers incisive insights into the economic fundamentals of the industry, market drivers, and trends, in addition to outlining the competitive landscape. Analysis is provided in US$ million for the period 2000-2015. The US market is further analyzed by the following segments - Pharmacogenomic Testing, Prenatal and Newborn Genetic Testing, and Predictive Medicine.

For more details about this research report, please visit

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site


Read the full story at

Source: PRWeb
Copyright©2008 Vocus, Inc.
All rights reserved  

Related biology technology :

1. Sigma-Aldrich Introduces Methylated DNA Quantification Technology for Epigenetic Research
2. Genetic clock makers at UC San Diego publish their timepiece in Nature
3. deCODE genetics Announces Webcast of Conference Call to Discuss Third Quarter 2008 Financial Results
4. Unraveling the genetic picture of lung cancer
5. Large-scale genetic study sheds new light on lung cancer
6. MedImmune Licenses Reverse Genetics Technology to Hungarys Omninvest for Use in Influenza Vaccine Development and Production
7. Genetic Engineering & Biotechnology News reports on growing role of molecular diagnostics
8. FDA Accepts New Drug Application for Bucindolol, A Genetically-Targeted Treatment for Heart Failure From ARCA biopharma
9. Genetically Modified Canola Plantings Reach 90 Percent in Canada
10. Exosome Diagnostics Appoints Johan Skog, Ph.D., as Director of Genetics Research
11. A Better Tomorrow Treatment Center Inc., Forterus Inc.s Behavioral Healthcare Subsidiary, is the First in the Nation to Offer DNA-Customized Treatment for Individuals with a Genetic Predisposition for Addictive Behavior
Post Your Comments:
Related Image:
Genetic Testing Market to Exceed $6.6 Billion by 2015, According to New Report by Global Industry Analysts, Inc.
(Date:12/1/2015)... Calif. , Dec. 1, 2015 Cepheid ... of its participation at the Piper Jaffray Healthcare Conference ... this morning, the Company is reaffirming its outlook for ... for 2016, in addition to discussing longer term business ... and Chief Executive Officer.  "We continue to be the ...
(Date:12/1/2015)... Austin, Texas (PRWEB) , ... December 01, 2015 , ... ... In his new post, VerMilyea will oversee all IVF lab procedures as ... analysis and fertility preservation. , “We traveled 7,305 miles to Auckland, New Zealand to ...
(Date:11/30/2015)... ... 30, 2015 , ... Global Stem Cells Group announced that its ... system for isolating adipose-derived stem cells. The announcement starts a new phase toward launching ... is a component of the lipoaspirate obtained from liposuction of excess adipose tissue. ...
(Date:11/30/2015)... CHICAGO , Dec. 1, 2015  An interventional radiology ... according to the preliminary results of a study being presented ... North America (RSNA). ... been done for decades by interventional radiologists as a way ... performing the procedure as a means of treating obesity is ...
Breaking Biology Technology:
(Date:11/10/2015)... , Nov. 10, 2015 ... biometrics that helps to identify and verify the ... is considered as the secure and accurate method ... of a particular individual because each individual,s signature ... results especially when dynamic signature of an individual ...
(Date:10/29/2015)... Minn. , Oct. 29, 2015   MedNet ... supports the entire spectrum of clinical research, is pleased ... Minnesota High Tech Association (MHTA) as one of only ... in the "Software – Small and Growing" category. The Tekne ... individuals who have shown superior technology innovation and leadership. ...
(Date:10/29/2015)... Connecticut , October 29, 2015 ... a biometric authentication company focused on the growing ... smart wallet announces that StackCommerce, a leading marketplace ... be featuring the Wocket® smart wallet on StackSocial ... NXTD ) ("NXT-ID" or the "Company"), a biometric ...
Breaking Biology News(10 mins):