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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