DUBLIN, December 1, 2021 / PRNewswire / – The “European Hereditary Genetic Testing Market – A Regional Analysis: Focus on Products, Sample Type, Applications and Nordic and Baltic Region, Data by Country (12 Countries) and Competitive Landscape – Analysis and Forecast, 2020-2031 “the report was added to ResearchAndMarkets.com offer.
The Europe The Hereditary Genetic Testing market is expected to grow at a CAGR of 13.34% during the forecast period 2021-2031 and is expected to reach a value of $ 19,309.4 million in 2031.
Genetic testing is a type of DNA test used to determine changes in the structure of chromosomes or in the DNA sequence. Genetic testing can also include measuring the results of genetic changes, such as mutation, analyzing RNA as an output of gene expression, or biochemical analysis to measure the production of specific proteins.
For cancer risk, genetic testing includes screening for inherited genetic variants which may be associated with a high to moderately increased risk of cancer in the patient and which are responsible for hereditary cancer susceptibility syndromes.
Hereditary genetic tests classify changes in chromosomes, genes and proteins. The result of hereditary genetic tests authorizes a suspected genetic disease which further helps determine a person’s chances of transmitting or developing a genetic disease. To date, over 1,000 hereditary genetic tests have been used and many more are in development for the tests.
Europe is one of the engines of genomic science and research. Sharing genetic testing data becomes an integral part as scientists join forces across borders to enable genetic testing for the benefit of humanity. Genetic testing can be done for a variety of purposes, which may or may not be medical science. Thus, regulatory needs depend on the context of the test being performed and for what purpose. It can be either to detect monogenic diseases, for medical and non-medical purposes, predispositions or carrier tests, for diagnostic and treatment purposes, predictive tests for late-onset diseases, drug response , family planning, forensics, population screening, and DNA profiling or research.
With several companies vying fiercely to establish dominance in the Europe Hereditary genetic testing market, several emerging companies have undertaken significant activities to establish their position in the market. Although these companies are currently far behind the market leaders, some of them have made significant strides to become major players, thanks to initiatives taken to expand their respective product portfolios and regional footprint.
Health experts have found that hereditary genetic testing is one of the fastest growing markets. The market of Europe Hereditary genetic testing is expected to grow at a CAGR of 13.34% during the forecast period 2021-2031. According to the publisher, hereditary genetic testing includes the ecosystem of multiple services offered, the products used and the target population.
The bullish market scenario can be observed if the recovery of COVID-19 is rapid in key countries of Europe. The scenario assumes growing demand for technologies, products, services and a growing end-user base in all regions. In addition, the scenario also assumes more product and service launches for genetic testing, especially in the Nordic and Baltic regions. In addition, companies in the market are investing more in rare diseases and reproductive genetics, which is one of the factors supporting optimistic growth.
Recognizing the unique role of hereditary genetic testing is an important step towards having an appropriate and efficient regulatory approval process in place, coupled with an effective pricing strategy and reimbursement policy. However, the assessment and reimbursement policies for technologies specific to each country Europe may result in different coverage for many genetic testing technologies across Europe. For example, in France, Germany, Italy, and in the UK, HER2 testing is publicly funded.
However, in Spain, the majority of NGS tests are funded by hereditary test manufacturers. Therefore, companies try to work closely with payers and other policy makers to increase adoption country by country and, in a few cases, hospital by hospital, which typically limits accessibility and results in poor adoption. rate.
Germany represented the maximum market share within the Europe region in 2020. The country has one of the largest pharmaceutical markets in Europe. In addition, it is one of the largest drug exporters and ranks among the top pharmaceutical producers in the world.
The growth in this region can be mainly attributed to the increase in pharmaceutical R&D spending, the increase in the geriatric population associated with the increasing prevalence of diseases and the increasing emphasis on the eradication of rare diseases in the region. region. However, the region also faces strong competition from Asian economies which offer cheap manufacturing materials and low labor costs.
The Europe The market for hereditary genetic testing is largely dominated by companies such as Woble Helsinki Oy, Negen Oy, Devyser, CeGaT GmbH, Beijing Genomics Institute (BGI), BerGenBio ASA, Eurofins Scientific SE, F. Hoffmann-La Roche Ltd, Illumina, Inc., Laboratory Corporation of America Holdings, Myriad Genetics, Inc., Alnylam Pharmaceuticals, Inc., Quest Diagnostics Incorporated and Thermo Fisher Scientific Inc.
Companies such as LabCorp, Illumina, Myriad and Quest Diagnostics are the leading providers of genetic testing products and services in the Europe Marlet. Compared to other European countries, the Nordic and Baltic region is mainly dominated by Bluprint Genetics (Quest Diagnostics) and Eurofins. In addition, regional players such as Devyser, CeGat GmbH and Negen Oy offer products to the markets.
Among the Nordic and Baltic regions, the Nordic region contributes more to the Europe hereditary genetic testing market. The country that performs the most genetic tests in the Nordic region is Finland. Much investment in research for the characterization of the population for rare diseases has been made in Finland by Blueprint Genetics.
Increased awareness of hereditary genetic testing
Increased prevalence of genetic disorders
Increase funding for genomics research
Agilent Technologies, Inc.
Woble Helsinki Oy
Beijing Genomics Institute (BGI)
Eurofins Scientific SE
F. Hoffmann-La Roche Ltée
Myriad Genetics, Inc.
Alnylam Pharmaceuticals, Inc.
Quest Diagnostics Incorporated
Thermo Fisher Scientific Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/f1nq9i
Research and markets
Laura Wood, senior
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SOURCE Research and Markets