Global,Genetic,Testing,Market, marketing Global Genetic Testing Market By Geography
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Also called DNA testing, genetic testing is an innovative technique in the field of molecular diagnostics. This technique offers the prospects for fastest growth among all other segments within the molecular diagnostics market.Personalized medicine is one area that is likely to benefit from technological developments in genetic testing, which is of assistance not only in better diagnosis of genetic diseases but also in deciding on the most ideal medical regimen based on an individual’s DNA structure for ensuring that the drug responds in a superior manner.Direct-to-consumer (DTC) genetic testing has emerged as a major trend in the market and is expected to make a positive impact on the overall genetic testing market. On the other hand, future market prospects are challenged by the quality, accuracy and proper interpretation of DTC genetic testing results. Other factors that can contribute to impeding growth for genetic testing in the future include the risk of genetic discrimination and psychological consequences of testing.North America is the fastest growing market for Genetic Testing. The United States dominates the North American market for genetic testing in terms of share at 92.7%, as well as growth at 18.2%. The United States has been lacking in a strong federal regulation that can moderate genetic testing, specifically direct-to-consumer or DTC testing. The Food and Drug Administration (FDA) has granted approval to a select set of over hundreds of tests available in the market currently. These tests are primarily offered as at-home test kits, which are considered to be medical devices that the FDA can assert jurisdiction upon. The demand for genetic testing in Mexico has been witnessing a steady growth, with several companies exhibiting a keen interest to expand in the region. For instance, a recent commercial agreement between Response Genetics Inc, a major developer and distributor of diagnostic molecular tests with a focus on cancer therapy selection, and DxM Diagnostico Molecular, a distributor for cancer testing in Mexico, was formed for offering the ResponseDX testing services to patients throughout Mexico.In Europe, Genetic testing has become quite prevalent over the last few years, with recent developments in molecular medicine expected to provide further impetus to this critical area. Germany forms the largest European market for genetic testing. France enacted laws in 2004 and 2011 that restricted the circumstances under which genetic tests could be legally performed, though they do not prohibit local residents from purchasing personal genetic tests from companies outside of France. A large number of genetic tests in the UK are currently offered only through specialist genetic testing services in the National Health Service (NHS).In Asia-Pacific, prospects for growth have dwindled to some extent because of an embargo on genetic testing in China, the largest market in the region, which has affected the overall outcome. The China Food and Drug Administration have halted the process of genetic testing effective since February 2014, though the authorities are likely to allow testing for Down’s syndrome and other medical indications through approved providers in the near future. The timeline of this ban has yet to be ascertained, and when this imposition would be lifted is anybody’s guess.
Global,Genetic,Testing,Market,