Currently among the different segment of the molecular diagnostics market, genetic testing is most likely to be a highly attractive segment owing to the increasing need for superior healthcare. Genetic testing is a highly sophisticated form of testing where even a slight modification in DNA that are associated with any disease condition can be detected. Genetic market in North America is valued to be $ 17.24 million in 2018 and is forecasted to be a $ 29.74 Million market by 2023 growing at a CAGR of 11.52%.

Genetic testing is the study of genes, chromosomes, or proteins that helps to identify the diseases, carriers of a disease, diagnose diseases, or to determine the course of the disease. The evolution of genetic testing has enabled for an easy diagnosis of diseases, like sickle cell anaemia, haemophilia, and cystic fibrosis, thus helping many patients to lead a normal life.

Increase in the awareness among the individuals about the benefits and the potentiality of genetic testing to identify and cure diseases or abnormalities is the main reasons for the genetic testing market to grow. In addition, increase in aging population, advancements of technology in the genetic testing space, subsequent increase in the cases of chronic diseases, and rising cancer case incidences are the few other factors aiding the growth of genetic testing market.

Get a comprehensive overview of the Market: https://www.marketdataforecast.com/market-reports/north-america-genetic-testing-market-37/

However, factors like huge costs that are associated with genetic testing and the lack of standard procedure concerning the authenticity of genetic reports are hindering the growth of genetic testing market.

The genetic testing market in North America is categorized based on application into Cancer Testing, Pharmacogenomics testing, Prenatal testing and Predisposition testing. Based on type of tests, the market is segmented into Carrier Testing, Diagnostic Testing, Prenatal Testing and Neonatal Testing. Genetic testing in cancer is expected to dominate the market and is likely to witness high growth in the near future. The market for rare and fatal disorders diagnosing, screening of new-borns, and the probability estimation of disease occurrence is likely to expand. Particularly, tests for screening the new-borns are likely to expand enormously over the coming years.

Furthermore, the North America market is analysed based on it geography under various regions namely, USA and Canada. The US represents the largest market for genetic testing worldwide. Screening for genetic mutations within the CFTR (Cystic Fibrosis Trans-Membrane Conductance Regulator) gene is the most recurrently conducted test in the US.

Request for Sample Brochure: https://www.marketdataforecast.com/market-reports/north-america-genetic-testing-market-37/request-sample

With the growing genetic diseases incidences, it 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.

Some of the major companies in the North America genetic testing market include, 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.,
scope of the report provides:
• The evaluation of the current market for your product or services and the future implications of the market
• Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future
• Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment
• Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share
• The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porter’s Five Forces
• The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors
• Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments
• Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence
• Equip you with the information providing with the investment opportunities in the industry
• Looking for more? If you are in need of a specific research study, we have an expertise in undertaking a customized study and will aid to meet your research requirement to the fullest.

About Us:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and sksillset dedicatedly serve clients from various industries and regions.

Contact:
Abhishek Shukla
Sales Manager (International Business Development)
Market Data Forecast
Direct Line: +1-888-702-9626
Mobile: +91 998 555 0206
Mail: [email protected]
Visit MarketDataForecast Blog @ http://www.marketdataforecast.com/blog/
View latest Press Releases of MDF @ http://www.marketdataforecast.com/press-releases