India $60+ Million Genetic Testing Markets, Analysis, Competition, Forecast & Opportunities, 2018-2021 & 2022-2028 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–Added the Genetic Testing Market in India by Type, Application, Region, Competition, Forecast and Opportunity 2018-2028 report ResearchAndMarkets.com Offer.

The Indian Genetic Testing Market was valued at USD 60.78M in 2022 and is expected to keep growing at a CAGR of 6.94% during the forecast period owing to the increasing number of patients suffering from chronic and genetic diseases and increasing technological advancements.

Growing awareness and demand for personalized medicines and treatments to ensure quality treatment and achieve improved outcomes are expected to pave the way for genetic testing market growth. Advancements and technological improvements in the field of genetic testing are expected to create lucrative opportunities for market growth over the next five years.

The improvement in the economic conditions of developing countries and the allocation of funds to the development of the health sector to provide quality treatments are expected to fuel the growth of the genetic testing market over the next five years.

Early detection of genetic diseases can help to treat diseases more efficiently. The rising disposable income of middle-class families enables them to afford quality health care services, which in turn is likely to impact the growth of the genetic testing market over the next five years.

Increase in chronic and genetic diseases

Increasing chronic and genetic cases and increased consumer awareness of genetic testing to diagnose chronic and genetic disorders are expected to propel the genetic testing market in the coming years.

The need for genetic testing is increasing as the number of people with genetic disorders increases. The increased awareness of the drugs and their diagnosis is affecting the genetic testing market in India.

Technological advances

Technological breakthroughs such as HTS (High Throughput Sequencing) and NGS (Next Generation Sequencing) have aided in the early detection of a variety of diseases.

These technologies improved the efficiency and accuracy of the tests and offered promising prospects for the Indian genetic testing market. The inclusion of AI databases in genetic testing to verify that the DNA has been analyzed in history is expected to grow the future genetic testing market in India.

Decrease in fertility rate

The expansion of the genetic testing industry is being hampered by the decline in fertility rates because if a couple fails to conceive despite numerous attempts, a genetic test is performed to determine if the problem is genetic and both parents are screened.

Preconception screening allows couples who want to conceive to know their reproductive risk. Genetic testing is also recommended to identify genetic diseases that can be passed on to offspring.

competitive landscape

Company Profiles: Detailed analysis of the major companies in the Indian genetic testing market.

  • MedGenome Labs Limited

  • Strand Life Sciences Private Limited

  • Centogene India Private Limited

  • Eurofins Clinical Diagnostics Bangalore Private Limited

  • Mapmygenome India Limited

  • Clevergene Biocorp Private Limited

  • Virtus Nutrition Private Limited (The GeneBox)

  • LifeCell International Pvt. GmbH.

  • Genes2Me Pvt. GmbH.

  • GeneTech India Private Limited

Report scope:

India Genetic Testing Market by Type:

  • cytogenetic testing

  • Biochemical Tests

  • Molecular Examination

India Genetic Testing Market by Application:

  • reproduction

  • cancer prevention

  • parentage test

  • Predictive and pre-symptomatic tests

  • Other

Indian Genetic Testing Market by Regions:

For more information about this report, visit https://www.researchandmarkets.com/r/t2vgq5.

READ:  History of Japan's intervention in currency markets