Europe Genetic Testing Market share was valued at USD 2.7 billion in 2019 and is expected to witness over 12.0% CAGR from 2019 to 2026.
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Genetic testing is also known as DNA testing that helps to measure changes in RNA and gene expression with biochemical analysis for specific protein outcomes. These outcomes will result into detection of genetic or hereditary disorders. The diagnoses will further help to customize the treatment and therapies based on individual genetic makeup. The genetic testing also helps to analyze biological relations with help of DNA paternity testing, predict genetic disorders using selective breeding methods and others.
Genetic testing provides insights about the genetic and hereditary diseases as well as risk of other diseases, identifying trigger factors, prenatal diagnosis and others. The introduction of direct-to-consumer (DTC) genetic test has been a privilege to the industry. These genetic tests are easily advertised to customers via internet, television or print media and accessible at pharmacy & online stores. The easy availability has increased the access of customers to genetic information without any hospital expense or visits. The DNA samples such as saliva, hair strands or blood samples are been provided to industry-oriented companies and the results are offered in written or online format. The DTC test is used to provide information and precautionary measures for health and thus will increase the demand of genetic testing over the forthcoming years.
The developed economies such as Europe are aware about the genetic diseases and disorders. The genome sequencing and genetic testing has enabled the use of personalised medicines. These medicines provide disease specific relief and help patients to reduce pain and ensure early recovery. For instance, Personalized Medicine Coalition mentioned that 73% of oncology compounds and 42% of other compounds have ability to develop as personalized medications. Moreover, the increasing R&D development in personalized medicines will thus upsurge the demand for Europe genetic testing in the upcoming years.
Europe Market Share, By Test Type
Carrier testing segment held around USD 60.0 billion revenue in 2019. The testing involves identification of individual as a carrier of autosomal recessive diseases. This test is common in couples expecting to get pregnant. These tests would help the parents to make decision and get a probability of the disease in the new-born. The procedure is safe and usually done by blood samples. The increasing prevalence of rare disease and genetically inherited diseases have positively affected the market and thus will augment the demand for carrier testing over the forecast period.
Europe Market Value, By Application
Cardiovascular segment is projected to show around 13.0% CAGR throughout the analysis timeframe. The increasing prevalence of cardiovascular diseases such as coronary heart diseases, cerebrovascular diseases cancers, cardiomyopathy and high blood pressure will fuel the market growth. Additionally, favourable reimbursement policies will further augment the market.
Europe Market Forecast, By Country
Norway genetic testing market is poised to exceed USD 138.0 million by 2019 owing to growing burden of rare disease and cancer in the country. Norway focuses on technological advancements and favourable reimbursement policies for improving the patient care and treatment. For instance, The Frambu Resource Centre in Norway estimates that 2,000 people suffer from rare diseases each year and aims to deliver the patients with specific therapies. Moreover, the government funds provide support to the market and thus driving the market over the forthcoming years.
Competitive Market Share
Some of the major industry players involved in Europe genetic testing market include Biocartis Group NV, bioMerieux, Blueprint Genetics, deCODE Genetics, Roche Diagnostics, among others. The key players are adopting various strategies such as collaborations, product launches, mergers and acquisitions for product development. For instance, in May 2017, GeneDx and FDNA collaborated to launch Face2Gene LABS. This product will help to diagnosis phenotypic features with facial analysis. This launch has helped the company to broaden its genetic testing product portfolio.
Genetic testing is used for analysis of protein metabolites and chromosomes that assist in diagnosis of rare disease and genetic disorders. The demand for genetic testing has increased with introduction of human genome project. The increased innovations in human genetic technology has enabled the launch of genetic sequencing researches and services. In 2011, European Commission launched EuroGentest to offer reliable results and benefits for patients. Later the EuroGentest started publishing results online by approvals from National Human Genetic Societies and the European Society of Human Genetics. The recent advancements in biochip and chromosomal & molecular microarray has inclined the patient’s growth towards genetic testing and thus will augment the industry growth during the forthcoming years.