China Genetic Testing Market Trends, Growth, Share, Analysis, Forecast and key Players By 2023
Added: (Tue Jan 15 2019)
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The China genetic testing market exhibited a positive growth over the recent years. The market growth is being led by factors including development of the domestic biotechnology sector and increasing investments from international players.
According to the latest report by IMARC Group, titled China Genetic Testing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023, the China genetic testing market reached a value of US$ 1.43 Billion in 2017. Genetic tests identify the changes occurring in the genes, proteins or chromosomes of an individual. They help in determining the chances of a person passing on a genetic disorder to the next generation as well as their vulnerability to a suspected genetic disease. The genetic testing market in China has witnessed rapid development since the establishment of the first genomics company in 1999. The demand for genetic testing services in the country is being driven by factors like aging population, expanding middle class and investments in the healthcare sector. The industry has also attracted international investors owing to rising demand for noninvasive prenatal testing and growing research in the fields of reproductive and oncology health.
Market Trends:
In an effort to expand its domestic biotechnology sector, the Chinese Government has taken steps in the favor of genetic science development. It identified genomics as a strategic field for the countrys social and economic development in its 14th Five-Year Plan. The Government also plans to document the genetic makeup of people from nine different minority groups, in an attempt to decode hereditary information within their genes. Apart from this, the market for direct-to-consumer DNA testing has also experienced massive growth driven by rising priority of personal health and wellness among consumers. This trend has further been supported by technological advancements which have reduced the cost of DNA sequencing services. However, there is a lack of specifically-designed educational programs for training medical genetic professionals in China. Despite this hindrance, the China genetic testing market value is expected to reach US$ 4.33 Billion by 2023, at a projected CAGR of 18.9% during 2018-2023.
China Genetic Testing Market Segment:
Market Breakup by Test Type
Prenatal Testing
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Carrier Testing
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New Born Testing
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Predictive/Presymptomatic Testing
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Diagnostic Testing
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On the basis of test type, the market is segmented into prenatal testing, newborn testing, diagnostic testing, carrier testing, predictive or presymptomatic testing and others. Amongst these, prenatal testing is the most popular segment.
Market Breakup by Disease
Cancer
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Down Syndrome
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Thalassemia
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Others
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Based on diseases, the market has been segregated into cancer, Down syndrome, thalassemia and others. At present, cancer remains the leading cause of death in China owing to which genetic tests are gaining popularity as these tests help the doctors in identifying suitable medication for patients.
Market Breakup by Technology
Biochemical
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Molecular
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Cytogenetic
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The market has been categorized on the basis of technologies into cytogenetic, biochemical and molecular. Amongst these, biochemical is the most common technology used for conducting genetic tests in China.
Market Breakup by Service Provider
Hospital Based Laboratories
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Independent Laboratories
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Specialty Clinics
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Market ForecastThere are several service providers available in China for genetic testing such as hospital-based laboratories, independent laboratories and specialty clinics. Hospital-based laboratories exhibit a clear dominance in the market.
Market Breakup by Testing Sample
Blood
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Saliva
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Hair
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Others
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The report has analyzed the China genetic testing market according to different testing samples which include blood, saliva, hair and others. Amongst these, blood samples hold the majority of the market share.
Competitive Landscape
BGI
Shenzhen Huada Gene Technology Co Ltd
Berry Genomics Co. ltd
Daan Gene Co. Ltd
WuXi NextCODE
Annoroad Gene Technology Co.
WuXi PharmaTech
The competitive landscape of the market has also been examined with some of the key players being BGI, Shenzhen Huada Gene Technology Co Ltd., Berry Genomics Co. ltd., Daan Gene Co. Ltd, WuXi NextCODE, Annoroad Gene Technology Co. Ltd and WuXi PharmaTech.
Read More About Report Click Here: https://www.imarcgroup.com/china-genetic-testing-market
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