Genetic Testing Market in North America to surpass USD 15 Bn up to 2026

North America genetic testing market will grow as rising cases of genetic disorders and cancer, with technological advancements gaining traction for early detection. According to the National Institutes of Health (NIH), one in 15,000 children suffers from phenylketonuria every year. Early detection of genetic disorders will further the demand for genetic testing across the region.

The introduction of chromosomal microarray and biochip analysis for the detection of genetic disorders has further gained an uptick. For instance, chromosomal microarray analysis (CMA) has become popular to detect genetic duplication and is sought in prenatal and postnatal conditions. According to a study, genetic testing market in North America size will accelerate to USD 15 billion by 2026.

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Predictive testing has fueled growth potentials in detecting gene mutations linked with genetic disorders after birth or later in life. The testing is desirable to gain insights on hereditary disorders, including hemochromatosis, cystic fibrosis, sickle cell anemia and alpha- and beta-thalassemia. The North America market is likely to witness the predictive genetic testing segment grow at a robust CAGR of 9.5% through 2026.

Prenatal and newborn testing has gone mainstream to screen genetic disorders, including congenital hypothyroidism, sickle cell disease, galactosemia, biotinidase and phenylketonuria. It has become a widely adopted technology for early detection, helping parents take needed measures. The prenatal and newborn genetic testing segment garnered around USD 2 billion for the North America industry in 2019 and is poised to grow at a notable rate in the ensuing period.

Companies are using genetic testing in a sophisticated way for the detection of cardiovascular diseases, including clinical diagnosis. The demand for usage and implantation of a cardiac defibrillator, heart transplantation and enzyme replacement therapy will drive the industry growth. The cardiovascular genetic testing segment in the region was valued at more than USD 680 million in 2019 and will expand at a notable rate by 2026.

The U.S. is likely to provide opportunities to unlock value in genetic testing through predictive testing for the detection of gene mutations. Genetic testing service providers are likely to cash in on its better recognition for utility and clinical validation in oncology. The U.S. National Cancer Institute projected around 1.8 million new cancer cases in the U.S. in 2020, with over half a million succumbing to it. The U.S. genetic testing market value was forecast to surpass USD 6.5 billion and is all set to witness commendable gain in the coming years.

Stakeholders are expected to expand their penetration in the Canada market following the rise in cancer cases. According to the Canadian Cancer Society, between 2015 and 2030, the number of new cancer cases diagnosed is likely to surge by about 40%. The Canada genetic testing market is anticipated to grow at a healthy CAGR of around 9% through 2026.

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The competitive scenario indicates leading companies will potentially focus on collaboration, product portfolio expansion and mergers & acquisitions. Some of the major vendors in the North America genetic testing market are CONMED Corporation, Acumed LLC, DePuy Synthes, Stryker Corporation and Integra LifeScience Holdings Corporation among others.

Thanks to a host of technological and scientific advances, the shifting healthcare landscape will fuel the growth prospects of the genetic testing industry in North America.

Table of Contents (ToC) of the report:

Chapter 5.         North America Genetic Testing Market Size, By Application

5.1.   Key trends in North America genetic testing, by Application

5.2.   Cancer

5.2.1.  Market estimates and forecast, by country, 2015 – 2026 (USD Million)

5.3.   Genetic diseases

5.3.1.  Market estimates and forecast, by country, 2015 – 2026 (USD Million)

5.4.   Cardiovascular diseases

5.4.1.  Market estimates and forecast, by country, 2015 – 2026 (USD Million)

5.5.   Others

5.5.1.  Market estimates and forecast, by country, 2015 – 2026 (USD Million)

Chapter 6.         North America Genetic Testing Market Growth, By Country

6.1.   Key trends in North America genetic testing, by country

6.2.   U.S.

6.2.1.   Market estimates and forecast, by test type, 2015 – 2026 (USD Million)

6.2.2.   Market estimates and forecast, by application, 2015 – 2026 (USD Million)

6.3.   Canada

6.3.1.   Market estimates and forecast, by test type, 2015 – 2026 (USD Million)

6.3.2.   Market estimates and forecast, by application, 2015 – 2026 (USD Million)

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