Europe Hereditary Genetic Testing Market

Europe Hereditary Genetic Testing Market Size

[ 170 + Pages Research Report ]  to surpass USD 19.5 billion by 2031 from USD 5.4 billion in 2021 at a CAGR of 13.6% in the coming years, i.e., 2021-2031.

Genetic testing is a sort of DNA testing that is used to determine chromosome structure or DNA sequence changes. Measurement of the results of genetic alterations, such as mutation, RNA analysis as a gene expression output, or biochemical analysis to measure specific protein output, are all examples of genetic testing. Changes in chromosomes, genes, and proteins are classified by hereditary genetic testing. Hereditary genetic testing confirms a suspected genetic problem and aids in determining a person's likelihood of passing on or getting a genetic disorder. More than 1,000 hereditary genetic tests have been utilized till date, and many more are being developed.

Market Highlights

Europe Hereditary Genetic Testing Market is expected to project a notable CAGR of 13.6% in 2031.

The European Hereditary Genetic Testing Market is being driven by factors such as increased emphasis on early illness identification and prevention, increased desire for personalized medication, and increased use of genetic testing in oncology, to name a few. Hereditary testing is expanding at an unprecedented rate, and a comprehensive panel of assays for screening a variety of genetic illnesses is now available. Treatments for a variety of rare genetic illnesses, as well as the procedure's increasing importance in a variety of circumstances, are all contributing to market expansion.

Europe Hereditary Genetic Testing Market: Segments

The Newborn Screening segment is expected to grow with the highest CAGR during 2021-31

Based on Type, the Europe Hereditary Genetic Testing Market is fragmented into Carrier Testing, Diagnostic Testing, Newborn Screening, Predictive and Presymptomatic Testing, Prenatal Testing, and Other Types. The pre-birth and newborn testing segment maintained its leading position with the highest revenue, and it is expected to maintain this position during the forecast. This is due to a rise in public awareness about medical treatment and an increase in the number of people dying from hereditary diseases around the world. During the forecast period, however, the pharmacogenomics testing segment is predicted to grow at the fastest rate.

The Molecular Testing segment is expected to grow with the highest CAGR during 2021-31

Europe Hereditary Genetic Testing Market is classified on the basis of Technology into Cytogenetic Testing, Biochemical Testing, and Molecular Testing. The molecular testing is chosen because it can be used to assess gains or losses in DNA that are difficult to differentiate with standard chromosome examination. Furthermore, the atomic testing division has the largest hereditary genetic testing market share in the total industry and is expected to maintain its dominance over the projection period. Sub-atomic testing is the most widely used technology for genetic testing, which has aided the growth of this industry.

Market Dynamics

Drivers

Significant Reduction in the Cost of Hereditary Cancer Testing

The reduction in the cost of hereditary cancer testing is a major element influencing the market. This would enhance the sector. In the projected period, the increased focus on R&D of genetic testing to study the correlation of cancer with genetic sequences to identify whether the sequence will cause cancer is expected to boost market expansion. The market is likely to rise as demand for DNA testing kits increases. The market would benefit from a greater focus on women's reproductive health. The strict restrictions governing cancer diagnosis may stifle industrial development.

The Growing Prevalence of Different Cancer Types and Rise in Number of Mergers & Acquisitions

Another driver of the Europe hereditary Genetic Testing Market is the rising prevalence of various types of cancer around the world, as well as increased research funding in the field of genomics. Furthermore, the market is likely to benefit from an increase in mergers and acquisitions throughout the forecast period.

Restraint

High cost associated with the Europe Hereditary Genetic Testing

Genomic data privacy, ethical and sociological challenges, and a lack of regulatory standards are all expected to limit the expansion of the European genetic testing market. Concerns over the uniformity of genetic testing-based diagnoses, as well as stringent regulatory requirements for product approvals, are projected to stymie the genetic testing market throughout the projection period. The specific hurdles to genetic testing that are examined are knowledge, health insurance, worries about misuse of testing, privacy and confidentiality concerns, and distrust in their medical doctor.

Europe Hereditary Genetic Testing Market: Key Players

• Agilent Technologies, Inc.
• Woble Helsinki Oy
• Negen Oy
• Devyser
• CeGat GmbH
• Beijing Genomics Institute (BGI)
• BerGenBio ASA
• Eurofins Scientific SE
• F. Hoffmann-La Roche Ltd
• Illumina, Inc.
• Myriad Genetics, Inc.
• Alnylam Pharmaceuticals, Inc.
• Quest Diagnostics Incorporated
• Thermo Fisher Scientific Inc.
• Other Prominent Players

Europe Hereditary Genetic Testing Market: Regions

Europe Hereditary Genetic Testing Market is segmented based on regional analysis into seven major regions: Germany, United Kingdom, Russia ,France, Italy, Spain, Rest of Europe. In 2020, Germany held the largest share of the European market. The country is home to one of Europe's largest pharmaceutical markets. Furthermore, it is a major exporter of pharmaceuticals and one of the world's top pharmaceutical producers. The expanding pharmaceutical R&D investment, the growing elderly population paired with rising disease prevalence, and the increased focus on eradicating uncommon diseases across the region are all contributing to the region's growth.

Impact of COVID-19 on Europe Hereditary Genetic Testing Market

The market's optimistic scenario can be seen if the COVID-19 recovery is quick across important European countries. The scenario implies that demand for technology, products, and services will rise across regions, as will the end-user base. Furthermore, the scenario expects that more genetic testing products and services will be launched, particularly in the Nordic and Baltic regions. Furthermore, one of the supporting elements for positive growth is that enterprises in the market are investing more in rare diseases and reproductive genetics.

Europe Hereditary Genetic Testing Market is further segmented by region into:

• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, and Rest of Europe

Europe Hereditary Genetic Testing Market report also contains analysis on:

Europe Hereditary Genetic Testing Market Segments:

• By Type
  • Carrier Testing
  • Diagnostic Testing
  • Newborn Screening
  • Predictive and Presymptomatic Testing
  • Prenatal Testing
  • Other Types 
• By Disease
  • Alzheimer's Disease
  • Cancer
  • Cystic Fibrosis
  • Sickle Cell Anemia
  • Duchenne Muscular Dystrophy
  • Thalassemia
  • Huntington's Disease
  • Other Diseases
• By Technology
  • Cytogenetic Testing
  • Biochemical Testing
  • Molecular Testing
• Europe Hereditary Genetic Testing Market Dynamics
• Europe Hereditary Genetic Testing Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Europe Hereditary Genetic Testing Market Report Scope and Segmentation

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