Rare Disease Genetic Testing Market Share, Size, Trends, Industry Analysis Report, By Specialty (Molecular Genetic Tests, Chromosomal Genetic Tests, Biochemical Genetic Tests); By Technology; By Disease Type; By End-Use; By Region; Segment Forecast, 2022 - 2030
The global rare disease genetic testing market size is expected to reach USD 2,414.90 million by 2030 according to a new study by Polaris Market Research. The report “Rare Disease Genetic Testing Market Share, Size, Trends, Industry Analysis Report, By Specialty (Molecular Genetic Tests, Chromosomal Genetic Tests, Biochemical Genetic Tests); By Technology; By Disease Type; By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing technological advancements, including NGS and microarray, are prominent factors responsible for the market’s growth. Also, the existence of Rare Diseases Clinical Research Network (RDCRN), an NIH-funded research network of 23 active research groups focused on the diagnosis & treatment of disorders, is anticipated to impact the industry positively. Furthermore, the decline in sequencing prices has shifted the attention to testing rare diseases, which has influenced the adoption of NGS, resulting in the market’s growth.
Translational research and genomic technologies play a crucial role in accelerating the investigation and identification of new mutations, which aid in market expansion. Due to numerous translational research activities in this field, genetic testing in disease diagnostics is expected to rise rapidly throughout the projection period.
An increase in patient registry for rare diseases and development of new products to treat rare diseases are stimulating the growth of the market. The market is expected to grow as the number and quality of available registries continue to expand. So advanced data collection and interpretation technologies that can be used in clinical practices improve. An increasing number of patients undergoing disease testing, as well as increased government assistance, will fuel several new opportunities for market growth.
Rare Disease Genetic Testing Market Report Highlights
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