The increasing incidences of genetic diseases in the pediatric population is resulting in 50% of childhood deaths and 25% of hospital pediatric admissions. The Global Pediatric Genetic Testing market has witnessed an astronomical growth owing to the factors such as burgeoning population, rising awareness among people pertaining to genetic conditions, along with escalating number of advancements in molecular diagnostics for clinical diagnostics. Moreover, the significant surge in the number of pediatric genetic disorders causing congenital disabilities and burgeoning prevalence of cardiovascular diseases are also some of the key factors driving the growth of the market in the forecast period.
According to MarkNtel Advisors’ research report titled “Global Pediatric Genetic Testing Market Analysis, 2020”, the Global Pediatric Genetic Testing market is anticipated to grow at a CAGR of around 14% during 2021-26F. Based on Technology, Next Generation Sequencing acquired the significant market share in the 2019. The adoption of next generation sequencing (NGS) technology due to rapid development in genetic techniques for diagnosis resulting in a modified clinical approach to neurological disorders. The technology is widely used in genomic tests in order to improve the diagnosis of children with genetic conditions. Moreover, rapid development in next-generation sequencing (NGS) technologies is leading to a growth in the diagnosis and treatment of developmental via molecular genetic testing.
“Global Pediatric Genetic Testing Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Pediatric Genetic Testing providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia-Pacific Registered the Fastest Growth
Asia-pacific registered the fastest growth in Global Pediatric Genetic Testing market in 2019. The growth of the segment is attributed to increasing incidences of Alzheimer’s disease, rising investment by the government in research & development, along with rapid advancements in healthcare systems and modernizing diagnostic systems. Moreover, burgeoning number of pediatric genetic disorders, growing awareness for newborn genetic testing, and rising degree of innovation in genetic testing are the factors anticipated to bolster the growth of the Pediatric Genetic Testing Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Pediatric Genetic Testing Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Pediatric Genetic Testing market are Abbott Laboratories, BGI Genomics, Invitae Corporation, Trivitron Healthcare, Thermo Fisher Scientific Inc., Fulgent Genetics, Inc., Quest Diagnostics, Unilabs Group Services, Agilent Technologies, Inc., Genomic Diagnostics, PerkinElmer, Inc., CENTOGENE N.V, OPKO Health, Inc., Baebies, Inc., Eurofins Scientific etc.
Key questions answered in the study: