Genetic testing, which is also known as DNA testing, is the latest innovation in the field of molecular diagnostics. The genetic testing market segment represents the highest growth opportunity compared to other segments within the molecular diagnostics market. The growth of the market is backed by increasing prevalence of genetic diseases, aging population, and rising awareness. Vast application areas including newborn screening, prenatal and preimplantation testing is also expected to add to the future growth of the market.
The technological advancements of genetic testing are expected to break new grounds in the field of personalized medicine as genetic testing helps not only in the better diagnosis of genetic diseases but also aids in selecting the best medication depending on the DNA structure of the patient to ensure superior drug response.
Direct to customer (DTC) genetic testing is one of the major trends in the market, which is expected to bring positive changes in the popularity of genetic testing. However, the quality, accuracy, and proper interpretation of test results of DTC genetic testing continue to challenge the future growth of the market. Furthermore, the risk of genetic discrimination and psychological consequences of genetic testing are also expected to hinder the growth of the market in the coming years.
The current report analyzes the genetic testing market. It discusses the drivers and challenges prevailing in the genetic testing market. It presents the competitive conditions prevailing in the market, along with the profiles of major players.
By combining SPSS Inc.'s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the global genetic testing market. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
Click for Report details:Generic Testing Market Report: 2012 Edition