The size of the Genetic Testing Market in Europe was worth USD 14.78 million in 2020 and is estimated to reach USD 23.29 Million by 2025, growing at a CAGR of 9.52% during the forecast period. Europe genetic testing market is growing continuously due to chronic disorders, cancer disease, and advanced diagnosis technology in the region.
With the advancements in technology, healthcare facilities are also evolving increasing demand for superior medical care. Currently, genetic testing has been a highly attractive segment in the molecular diagnostics market owing to its ability to identify the slightest modification in chromosomes, genes, or proteins that are associated with inherited disease conditions.
Genetic testing is the analysis of genes, chromosomes, or proteins that helps to predict the risk of diseases, identify carriers of disease, diagnose diseases, or determine the likely course of a disease. Genetic testing has led to an easy diagnosis of diseases, such as sickle cell anaemia, haemophilia, and cystic fibrosis, helping several patients in leading a healthy life.
The primary reason behind the growth of the genetic testing market is the growing awareness lately among the individuals about its potentials. And also, an increase of research in the genetic testing space, aging population and rise of chronic disease cases, and growing incidences of cancer cases are the other factors contributing to the growth of the genetic testing market,
However, the costs associated with genetic testing are high and may hinder the growth of the market. And also, as there is no credible standard procedure for analysis, the individuals began to develop serious doubts concerning the authenticity of genetic reports, which negatively affects the market.
Genetic testing in cancer is anticipated to grow at a higher rate and likely to dominate the genetic testing market in the coming years. The market for screening the new-borns, diagnosing rare and fatal disorders, and estimating the probability of occurrence of diseases is likely to expand. Notably, genetic tests to screen the new-borns are expected to grow immensely over the coming years.
The growing incidence of genetic diseases unravels new opportunities for genetic testing and its related applications. The transformation of genetic testing from being a service-driven market to a product-driven market is anticipated to provide a push to the diagnostic companies for the expansion of their operations.
The report has been segmented and sub-segmented into the following categories.
Regionally, the UK genetic testing market is ruling with dominant shares in the European market. The UK is a high genetic disease affected country. It is estimated that nearly 30000 paediatrics are newly diagnosed every year, and more than 2.5 million people have a genetic disorder in the country. Also, the UK government initiated 100000 genome projects in 2018, and it published a second life science deal in 2018.
The genetic testing market in France is estimated to grow at a healthy rate during the forecast period. Rising incidences of chronic diseases coupled with the increasing support from government organizations are majorly levelling up the demand of the market.
Following France, Germany genetic testing market is growing at the fastest rate. Launch of reimbursement policies by the government is enhancing the demand of this market. Germany has taken the initiative with the help of government insurance scheme in the country. Availability of skilled researcher in laboratories in developing innovative techniques is solely fuelling the growth rate of the market.
Italy genetic testing market is expected to perform well in the coming years with the increasing incidences of infectious diseases. Growing prevalence to promote quality treatment services is leveraging the demand of the market.
Spain genetic testing market is growing due to the awareness and rising disposable income in urban areas are significant factors for market growth.
Some of the promising companies leading the Europe Genetic Testing Market profiled in this report are Abbott Laboratories, Roche Molecular Diagnostics Inc., Abbott Molecular Inc., AutoGenomics Inc., Celera Group, ELITech Group, BioRad Laboratories, PerkinElmer Inc., Roche Diagnostics Corp., Quest Diagnostics Inc., Transgenomic Inc. and Applied Biosystems Inc.,
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Analysis Design
2.3 Research Phases
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Type
5.1.1 Carrier Testing
5.1.2 Diagnostic Testing
5.1.3 Prenatal Testing
5.1.4 Neonatal Testing
5.2 By Application
5.2.1 Cancer Testing
5.2.2 Prenatal Testing
5.2.3 Pharmacogenomics Testing
5.2.4 Presdisposition Testing
6. Geographical Analysis
6.1 Introduction
6.2 U.K
6.3 Spain
6.4 Germany
6.5 Italy
6.6 France
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Roche Molecular Diagnostics Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Abbott Laboratories
8.3 AutoGenomics Inc.
8.4 Celera Group
8.5 ELITech Group
8.6 BioRad Laboratories
8.7 Quest Diagnostics Inc
8.8 Transgenomic Inc.
8.9 Applied Biosystems Inc.,
8.10 PerkinElmer Inc
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
Related Reports
Feb 2020
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