Genetic testing has been growing at an unprecedented rate; a large panel of tests are now available to screen a number of genetic diseases. Treatment is available for a number of rare genetic diseases and the procedure is gaining importance in scenarios, such as carrier testing, newborn screening, predictive and pre-symptomatic testing, etc.
- Technologies, such as next-generation sequencing, allow to carry out many genetic tests rapidly and create databases with information about rare genetic diseases. The European countries have undertaken a number of initiatives to increase awareness among people about the benefits of genetic testing.
- There are a number of favorable and collaborative policies that are being implemented by the governments to incorporate genetic testing into the healthcare system and to make insurance reimbursements available to citizens. Cancer genetic testing, Alzheimer’s disease testing, and cystic fibrosis testing are the most popular screening tests being carried out in Europe. Others include hereditary breast cancer and ovarian cancer syndromes, Li-Fraumeni syndrome, Cowden syndrome, Lynch syndrome, Familial adenomatous polyposis, and retinoblastoma, among others.
- The practice of genetic testing for hereditary cancer syndromes has changed dramatically in the recent years. In developed countries, like Germany, France, etc., the demand for genetic testing to detect cancer risks is driving the growth of the market. The high GDP expenditure on healthcare, per capita expenditure, increase in awareness among the people, and high income of the citizens are the factors that drive the market in European countries.
Key Market Trends
The Diagnostic Testing Segment is Expected to Grow the Fastest over the Forecast Period
Diagnostics testing is expected to register a healthy CAGR, as it is used to diagnose or rule out a specific genetic condition. This is attributable to the growth in awareness among people regarding health and the increase in incidences of mortality rate due to the genetic diseases in the region. In most cases, genetic testing is used to confirm a diagnosis when a particular condition is suspected based on physical mutations and symptoms. Therefore, the increasing conditions like, cancer, Alzheimer’s disease, and cystic fibrosis, boost the segment’s growth. Furthermore, companies, such as Centogene and NIMGenetics, offer a wide range of genetic diagnostic services in Europe, which is further accelerating the growth of the market.
The European genetic testing market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by introducing new products with fewer prices.
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