The Genetic Testing Market size in Europe was worth USD 16.19 billion in 2021 and is estimated to reach USD 25.51 billion by 2026, growing at a CAGR of 9.52% during the forecast period. The European genetic testing market is growing continuously due to chronic disorders, cancer disease, and advanced diagnosis technology in Europe.
With the technological advancements, healthcare facilities are also evolving, the demand for superior medical care also increasing. Genetic testing has been a highly attractive segment in the molecular diagnostics market due to its ability to identify the slightest modification in chromosomes, genes, or proteins associated with inherited disease conditions.
Genetic testing is the analysis of genes, chromosomes, or proteins that help 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 anemia, hemophilia, and cystic fibrosis, helping several patients lead healthy life.
The primary factor promoting the growth of the European genetic testing market is the growing awareness lately among individuals regarding the benefits associated with genetic testing. 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 further propelling the genetic testing market growth in the European region.
However, the high costs associated with genetic testing may hinder the growth of the market. As there is no credible standard procedure for analysis, the individuals began to develop serious doubts concerning the authenticity of genetic reports, which is expected to affect negatively on the market growth.
Genetic testing in cancer is anticipated to grow at a higher rate and is likely to dominate the genetic testing market in the coming years. The market for screening newborns, diagnosing rare and fatal disorders, and estimating the probability of occurrence of diseases is likely to expand. Notably, genetic tests to screen newborns 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 push the diagnostic companies to expand their operations.
The research report on the European has been segmented and sub-segmented into the following categories.
By Application:
By Test:
By Country:
Regionally, the UK genetic testing market is estimated to dominate the European market during the forecast period. The United Kingdom is a high genetic disease-affected country. It is estimated that nearly 30000 pediatrics are newly diagnosed every year, and more than 2.5 million people have a genetic disorder in the country. The UK government also 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 leveling up the market growth.
Following France, the German genetic testing market is estimated to be growing at the fastest rate. The launch of reimbursement policies by the government is enhancing the demand of this market. Germany has taken the initiative with the help of a government insurance scheme in the country. The availability of skilled researchers in laboratories in developing innovative techniques is solely fuelling the growth rate of the market.
The Italian 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.
The Spain genetic testing market is expected to grow at a promising rate due to the awareness and rising disposable income in urban areas are significant factors for market growth.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the European 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
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Apr 2021
