Genetic Sequencing Test Market Size and Share 2022 Global Business Review, Key Findings, Company Profiles, Growth Strategy, Developing Technologies, Trends and Forecast by Regions

Kenneth Research recently added a report on ‘Genetic Sequencing Test Market’ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Genetic Sequencing Test Market, along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Genetic Sequencing Test Market products.

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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.

The Genetic Sequencing Test Market was valued at USD 3750 Million in the year 2018. Increase in number of old age population, increase in number of diseases, decrease in the cost of sequencing, increasing need for better healthcare are the basic reasons behind increased demand for the global sequencing market. Global Genetic Sequencing Test Market will continue to grow as the leading companies launch new sequencing products with increased efficiency and less time consumption. Therefore, usage by healthcare set ups, research institutes, biotechnology centres is increasing. These markets are influenced by the cost factor for the end users. Also developing countries, which suffer from lack of funding, are not able to use this technology to the fullest.

On the basis of Technology, the segments are First Generation Sequencing and Next Generation Sequencing. The older technology is costly as well as time consuming but it is still considered as “Gold Standard” to validate the result obtained by next generation sequencing. Next Generation Technology provides long reads which have drastically reduced the cost and result annotation time.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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Among the country, United States of America currently leads the genetic sequencing market owing to considerable investments being done in healthcare sector. Also, presence of leading market players like Illlumina in this region makes the technology more readily available. Moreover, countries like China, India, Germany, Netherlands, Saudi Arabia are expected to grow faster owing to increased investment in the research and development.

Scope of the Report

Global Genetic Sequencing Test Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Genetic Sequencing Test Market – Size, Growth, Forecast
• Analysis by Product Type: Instruments, Consumables, Services
• Analysis by Technology: First Generation Sequencing, Next Generation Sequencing
• Analysis by Test Type: Diagnostic testing, Non-Invasive Pre-Natal testing, others
• Analysis by End User: Academic and Research Institutes, Healthcare

Country Analysis – U.S., India, China, France, Rest of the World (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Analysis by Product Type: Instruments, Consumables, Services
• Analysis by Technology: First Generation Sequencing, Next Generation Sequencing
• Analysis by Test Type: Diagnostic testing, Non-Invasive Pre-Natal testing, others
• Analysis by End User: Academic and Research Institutes, Healthcare

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Other Report Highlights
• Competitive Landscape
• Leading Companies
• Market Dynamics – Drivers and Restraints.
• Market Trends
• SWOT Analysis.
• Company Analysis – Illumina, F. Hoffman- La Roche Holding AG, Agilent Technologies, Qiagen, Pacific Biosciences, Thermo Fisher Scientific, BGI, Oxford Nanopore Technologies, Bio-Rad Laboratories, Macrogen.

Customization of the Report
The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research.

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