Genetic Testing Market Size, Share, Trends, Growth Opportunities And Competitive Outlook
Genetic testing is a kind of medical test that identifies changes in genes, chromosomes, or proteins. The outcome of a genetic test can confirm or rule out a suspected genetic condition or aid in determining a person’s chance of developing or passing on a genetic disorder. Over 77,000 genetic tests are currently in use, and others are being developed. The increasing innovations and technologies and rising number of players in the market, and novel product launches are also propelling the growth of the global genetic testing market.NGS offers advantages in accuracy, sensitivity, and speed compared to traditional methods that have the potential to make a significant impact on the field of oncology. The need to order multiple tests to identify the causative mutation is eliminated because NGS can assess multiple genes in a single assay. Next-generation sequencing has the power to transform oncology’s outlook and push forward the vision of precision medicine by the adoption of genome-focused pharmacology for the treatment of genetic diseases. Thus, the increase in the adoption of genome-focused pharmacology for genetic disease treatment is propelling the market growth.
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