The clinical genomics market is expected to reach USD 879.0 million by 2023, at a CAGR of 17.1% during the forecast period of 2018 to 2023.
With the comprehensive secondary and primary research on clinical genomics tests and software and an in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, opportunities, challenges, and trends in the global market. The global clinical genomics market is mainly driven by growing significance of early disease detection and prevention, rising insistence for precision medicine, increasing application of genetic testing in oncology, and favourable reimbursement scenario related to genetic testing. However, high cost and social and ethical implications of genetic testing hinder the growth of clinical genomics market to some extent.
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Market Segmentation
The global clinical genomics market is mainly segmented by test type (diagnostic testing, genetic testing, newborn screening, prenatal testing, preimplantation testing, carrier screening and other tests), software, method (molecular tests, chromosomal tests, biochemical tests), end user (hospitals & clinics, government laboratories & research centers, academics and research institutes and other end users), and geography (North America, Europe, Asia-Pacific, and Rest of World).
Geographic Overview
Geographically, the global clinical genomics market is segmented into four major regions, namely North America, Europe, Asia-Pacific, and Rest of World. North America accounted for the major share in the global clinical genomics market in 2017, followed by Europe, and Asia-Pacific. The major share of the North American region is mainly attributed to the public awareness regarding genetic testing, high burden of inherited and rare disorders, increasing R&D expenditure, and various government initiatives. On the other hand, Asia-Pacific region is projected to grow at the fastest CAGR during the forecast period, mainly due to increasing population, rising rate of diseases, and various government initiatives for the genomic research in order to understand the complex biological process and genetic mutation present in life-threatening diseases.
The geographical analysis provides detailed insights on the key trends of the industry in the listed regions, identifying the demographic & economic impact, government & private investments, market opportunities and forecast, and regulatory scenario. The geographical analysis section also comments on the key market players shaping the growth of the industry in the respective regions, market size, and forecast for clinical genomics market till 2023.
Key players
The report includes the competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years. The study has also incorporated the detailed profiles of 25 top market players, including detailed financial performance, strategic focus, business overviews, and product offerings of each player. The key players in the global clinical genomics marketare Quest Diagnostics Incorporated (U.S.), Eurofins Scientific SE (Luxembourg), Illumina, Inc. (U.S.), PerkinElmer, Inc. (U.S.), NeoGenomics Inc. (U.S.), Foundation Medicine, Inc. (U.S.), Rosetta Genomics Ltd. (Israel), Invitae Corporation (U.S.), Myriad Genetics, Inc. (U.S.), Natera, Inc. (U.S.), Genomic Health, Inc. (U.S.), OPKO Health, Inc. (U.S.), Centogene AG (Germany), Clinical Genomics Pty Ltd. (Australia), 23andMe, Inc. (U.S.), Iverson Genetic Diagnostics, Inc. (U.S.), Veritas Genetics (U.S.), Gene by Gene, Ltd. (U.S.), GenomeDx Biosciences, Inc. (Canada), MedGenome (India), Strand Life Sciences Pvt. Ltd. (India), Beijing Genomics Institute (BGI) (China), Retrogen, Inc. (U.S.), Personalis, Inc. (U.S.), and PathGroup (U.S.).
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