A rare disease is any disease that affects less than 5 in 10000 people, states WHO (World Health Organization), There are over 7000 such diseases and most of them have no effective treatment.
According to MarkNtel Advisors, the Global Rare Disease Testing Market is anticipated to grow at a CAGR of around 9.29% during the forecast period, i.e., 2021-26. The market growth primarily attributes to the increasing prevalence of genetic disorders & various types of cancer. In addition to this, the paradigm shifts from reaction to prevention on a global level, increasing research funding, and surging usage of new techniques & developments are other crucial factors driving the market.
The research report “Global Rare Disease Testing Market Analysis, 2021” also states that the global market is expected to grow significantly due to various opportunities that lie within its domain. These include the massive scope toward adopting NGS (Next-Generation Sequencing) in emerging nations and technological advancements in molecular techniques for the whole genome & exome sequencing.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, UK, France, Italy, Spain|
|Asia-Pacific: China, India, Japan, Australia, Singapore|
|South America: Brazil, and Argentina|
|Middle East & Africa: Israel, GCC|
|Key Companies Profiled||Quest Diagnostics Inc., Centogene N.V., Invitae Corporation., 3billion, Inc., Arup Laboratories., Eurofins Scientific., Strand Life Sciences., Ambry Genetics., Color Genomics, Inc., Health Network Laboratories, PreventionGenetics, Progenity, Inc., Myriad Genetics, Inc., Laboratory Corporation of America Holdings, OPKO Health, Inc|
|Unit Denominations||USD Million/Billion|
The Impact of COVID-19 on Global Rare Disease Testing Market