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Genetic Testing Market Size & Share to Boom at Double-Digit CAGR During Forecast Year 2020-2030
Genetic tests are medical instruments that come in the form of kits or panels and are used to diagnose genetic illnesses in people. Furthermore, blood samples from patients are collected throughout the exam. These samples are then tested utilizing test kits on laboratory equipment. Measurement of the results of genetic alterations, such as RNA analysis as an output of gene expression, or biochemical analysis to quantify particular protein production, are examples of genetic testing. Numerous sorts of tests are utilized to diagnose genetic abnormalities. Predictive testing, carrier testing, prenatal and neonatal testing, diagnostic testing, pharmacogenomic testing, nutrigenomics, and other genetic tests are available to detect diseases. Newborn testing, for example, can detect genetic diseases early in life, allowing treatment to begin as soon as feasible. In addition, these tests are utilized to diagnose medical disorders such as cancer, hereditary disorders, and cardiovascular disease.
Abbott Laboratories
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
According to the World Health Organization, cancer led to the deaths of 9.6 million people globally in 2018. These figures are concerning since the illness is at an all-time high, impacting the whole planet and bordering on epidemic proportions. Breast cancer, ovarian cancer, bowel cancer, womb cancer, and prostate cancer can all be diagnosed quickly thanks to genetic testing. A family history of cancer is required for genetic testing and assistance in the prevention of this devastating illness. This application sector was one of the most popular in the genetic testing market, and it is predicted to continue to develop gradually in future.
Note: Although care has been taken to maintain the highest levels of accuracy in Fatpos Global’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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