Market Trends of North America Genetic Testing Industry
This section covers the major market trends shaping the North America Genetic Testing Market according to our research experts:
Predictive and Presymptomatic Testing is Expected to be the Major Contributor to the Market over the Forecast Period
Predictive and presymptomatic testing is utilized for the detection of gene mutations that are related to disorders appearing after birth, frequently in the later stages of life. Such tests can be of assistance to individuals having a family member with a genetic disorder, even though they are free from any features of the disorder while testing. Thus, the rising incidences of cancer and growing awareness about the diseases are expected to lead to more such tests, which, in turn, is anticipated to drive the market.
Resources and technological advancement have played a great role in genetic counseling. As per the Proceeding National Academy of Science of North America in 2021, around 2.7 billion people (36% of the total world population) worldwide are the carrier of at least one mutation that causes AR-IRD (autosomal recessive (AR)-inherited retinal diseases (IRDs). Moreover, modern technologies and the latest innovations concerning genetic disorders are boosting the market's growth of the predictive and presymptomatic testing market.
As per the National Breast Cancer Foundation Inc., in 2021, an estimated 276,480 new cases of proliferating breast cancer were diagnosed in women in the United States. About 65% of breast cancer cases are diagnosed at a localized stage, in which 5-year survival is 98%. Additionally, North America is ranked highest in breast cancer treatment due to the occurrence of breast cancer cases in women. Furthermore, the high technological investment in the region with growing healthcare facilities with advanced infrastructure is fuelling the market's growth.
United States is Expected to Winess Significant Growth over the Forecast Period
The United States is expected to witness significant growth in the genetic testing market currently, owing to factors like increasing demand for personalized genetic testing services in the region and the rise in the prevalence of chronic and genetic disorders. According to the CDC, most clinics and hospitals have restricted in-person delivery of non-essential healthcare services, including genetic counseling, to minimize the transmission of coronavirus. Hence, though the market studied slowed down due to the pandemic, the situation is expected to improve gradually.
The increasing product approvals by the USFDA and subsequent launches are anticipated to drive the market's growth in North America. For instance, in June 2021, Eurofins acquired DNA Diagnostics Center to extend its genetic testing capabilities and join the consumer testing industry. Thus, due to the growing cancer incidence and strategies taken by key players in the United States, the genetic testing market is expected to grow significantly over the forecast period.
