Rare Disease Genetic Testing Market Size, Share, Growth Report 2030

Global Rare Disease Genetic Testing Market: Overview

The global Rare Disease Genetic Testing Market accrued earnings worth approximately 919.7(USD Million) in 2020 and is predicted to gain revenue of about 1,957.3 (USD Million) by 2028, is set to record a CAGR of nearly 10.8% over the period from 2021 to 2028. The report offers assessment and analysis of the Rare Disease Genetic Testing Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Million).

Genetic testing is a major diagnostic tool that assists in identification of disease manifestation along with predicting the causes of gene disorders. Breakthroughs in gene testing are tangible and immediate with new genomic revolution. Apparently, benefits to patients having rare diseases include instant and exact diagnosis along with improvement in therapy as well as outcomes due to effective genetic testing of rare diseases. However, rare disease genetic testing activities pose huge challenges such as knowledge gap pertaining to mutation pathogenicity & penetrance, huge costs, ethical issues, and apt medical usage. Nonetheless, in spite of these obstructs, it is likely that genetic phenotypes will become diagnosable routinely over forthcoming years. Apart from intrinsic advantages provided by testing, the unraveling of myriad & unabridged new disease pathway can offer unbridled scientific insights needed for developing new treatments for rare as well as common ailments.

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Rare Disease Genetic Testing Market: Growth Factors

Breakthroughs in themolecular biology domain have transformed the phase of diagnosing & treating disease, thereby driving market trends. Apparently, the easy availability of clinically tested methods for detecting genetic disorders through DNA & RNA screening will promulgate the expansion of the rare disease genetic testing industry over the forecasting timeframe. Moreover, new methods such as RT-PCR screening tests and clinical genome sequencing have proved to be cost-effective in comparison to other methods. This, in turn, will proliferate the expansion of the rare disease genetic testing industry. Furthermore, consistent research in gene technology and massive funding of projects such as the human genome project which assisted in not only sequencing of human genes but identifying defective genes causing disease will steer the growth of the rare disease genetic testing market over the forecast timeline.

Furthermore, the rise in autoimmune disorders has resulted in huge demand for genetic testing, thereby accentuating the rare disease genetic testing market size. In addition to this, the rise in the occurrence of various kinds of cancer and the surge in the aging population across the globe will exemplify the expansion of the rare disease genetic testing market over the assessment period.

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Report Scope:

Regional Landscape

North America To Dominate Overall Market Growth By 2028

The surge in awareness related to disease prevention and an increase in the aging population prone to disorders will drive regional market trends. In addition to this, the introduction of new technologies including NGS-driven genetic testing coupled with the rising need for diagnosing & treating genetic diseases in countries such as the U.S. and Canada will spur the expansion of the rare disease gene testing market during the assessment period. Favorable government initiatives promoting research activities pertaining to rare disease genetic testing and providing impetus to new techniques such as NGS-driven genetic testing will drive regional industry trends.

Key players influencing market growth and profiled in the study include Quest Diagnostics, Inc., Invitae Corporation, Arup Laboratories, Centogene N.V., Eurofins Scientific, Ambry Genetics, Baylor Genetics, Macrogen, Inc., Perkin Elmer, Inc., Color Genomics, Inc., Progenity, Inc., Health Network Laboratories, Fulgent Genetics Inc., Coopersurgical, Inc., Laboratory Corporation of America Holdings, Myriad Genetics, Inc., and Opko Health, Inc.

The global Rare Disease Genetic Testing Market is segmented as follows:

By Disease Type

• Neurological Disorders
• Hematology Diseases
• Immunological Disorders
• Endocrine & Metabolism Diseases
• Musculoskeletal Disorders
• Cancer
• Dermatology Disease
• Cardiovascular Disorders

By Technology

• Next-Generation Sequencing (NGS)
• FISH
• PCR-Based Testing
• Array Technology
• Sanger Sequencing
• Karotyping

By Specialty

• Molecular Genetic Tests
• Biochemical Tests
• Chromosomal Genetic Tests

By End-Use

• Research Laboratories & CROs
• Hospitals & Clinics
• Diagnostic Laboratories

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa