Cancer Screening Segment to Dominate the India Genetic Testing Market through FY2027
Ongoing research and development
activities and increasing occurrence of cancer is expected to drive the demand
for India genetic testing market for the forecast period.
According to TechSci Research report, “India
Genetic Testing Market By Type (Prescribed Genetic Testing v/s
Direct-to-Consumer Genetic Testing) By Technology (Cytogenetic Testing,
Biochemical Testing, and Molecular Testing) By Application (Reproductive Health
(Newborn Screening, Prenatal Screening and Carrier Screening), Cancer Screening
(Hereditary Cancer, Breast Cancer, Ovarian Cancer and Colon Cancer), Ancestry,
Predictive & Pre-Symptomatic Testing, Others)By Company, By Region,
Forecast & Opportunities, FY2027”, the India Genetic Testing market is
expected to witness steady growth in the forecast period, FY2023-FY22027.
Genetic tests are defined as the kind of medical devices which are used to
perform the test to find the presence of genetic diseases in humans. The
genetic test is available in form of kits and the testing is performed by
collecting the blood samples from the patients. These samples are then run-on
laboratory machines using the testing kits. The different kinds of tests are
performed to find the occurrence of genetic disorders such as prenatal and
newborn testing, diagnostic testing, carrier testing, amongst others. Due to
growing advancements in the healthcare sector and to provide quality healthcare
services to patients, genetic testing has become a lucrative segment. High-end
investments for the research and development activities and the increasing
healthcare expenditure to boost the growth of the genetic testing market in the
next five years. Adoption of unhealthy eating habits including the consumption
of junk food and high sugar-containing food items and beverages along with the
changing lifestyle patterns is giving rise to several chronic diseases.
Increasing awareness about the availability of different testing procedures and
increasing demand from the agricultural sector to improve the agricultural
yield is contributing to the market growth.
The COVID-19 outbreak across the world which has
been declared as a pandemic by World Health Organization has affected several
countries adversely. Leading authorities around the globe imposed lockdown
restrictions and released a set of precautionary measures to contain the spread
of novel coronavirus. Patients preferred to not visit the healthcare facilities
unless necessary and postponed the visit to the healthcare facilities. The
disruption in the supply due to the restrictions imposed on the import and
export activities is negatively influencing the market. The demand for
telehealth services grew in the forecast period for the treatment and get the
face-to-face counseling sessions from the healthcare professionals. Therefore,
the genetic testing market is expected to be adversely impacted by market
growth.
However, the presence of stringent regulations
and policies for the approval of products and the concerns regarding the
standardization of genetic-based testing may restrain the growth of the genetic
testing market in the forecast period.
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India genetic testing market is segmented into type,
technology, application, regional distribution, and company. Based on the
application, the market can be divided into reproductive health, cancer
screening, ancestry, predictive & pre-symptomatic testing, and others.
Reproductive health can be further divided into newborn screening, prenatal
screening, and carrier screening while cancer screening can be divided into
hereditary cancer, breast cancer, ovarian cancer, and colon cancer. The cancer
screening segment is expected to hold a lucrative share of the market in the
forecast period owing to the increasing prevalence of cancer around the globe.
History of the patient is necessary to provide treatment to the patients and
help to mitigate the occurrence of cancer disease around the world.
Mapmygenome India Ltd., The Gene Box, MedGenome Labs Ltd.,
Strand Life Sciences Pvt. Ltd., Centogene India Private Limited, Eurofins
Product Testing India Private Limited are the leading players operating in India
genetic testing market. Manufacturers are increasingly focusing on research and
development process to fuel higher growth in the market. To meet evolving
customer demand with respect to better efficiency and durability, several genetic
testing manufacturers are coming up with their technologically advanced
offerings.
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“Supportive
government policies to raise awareness among patients and the ongoing research
and development activities are expected to foster the growth of the genetic
testing market. The growing prevalence of chronic diseases and the benefits of
early diagnosis and treatment is expected to spur market growth. Increasing
demand for personalized treatment services and the growing construction of
healthcare facilities is expected to propel the market growth till FY2027.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“India Genetic
Testing Market By Type (Prescribed Genetic Testing v/s Direct-to-Consumer
Genetic Testing) By Technology (Cytogenetic Testing, Biochemical Testing, and
Molecular Testing) By Application (Reproductive Health (Newborn Screening,
Prenatal Screening and Carrier Screening), Cancer Screening (Hereditary Cancer,
Breast Cancer, Ovarian Cancer and Colon Cancer), Ancestry, Predictive &
Pre-Symptomatic Testing, Others)By Company, By Region, Forecast &
Opportunities, FY2027” has evaluated the future growth potential of India genetic
testing market and provided statistics & information on market size, shares,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of India genetic
testing market.
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