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The genetic testing market share in APAC share is expected to increase by USD 1.31 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 13.21%.
This genetic testing market in APAC research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers genetic testing market in APAC segmentations by product (equipment and consumables) and application (cancer diagnosis, genetic disease diagnosis, cardiovascular disease diagnosis, and others). The genetic testing market in APAC report also offers information on several market vendors, including Abbott Laboratories, Bio Rad Laboratories Inc., Danaher Corp., Exact Sciences Corp., F. Hoffmann-La Roche Ltd., Illumina Inc., Mapmygenome India Ltd., Myriad Genetics Inc., QIAGEN NV, and Thermo Fisher Scientific Inc. among others.
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The rising approval of advanced genetic testing products is notably driving the genetic testing market growth in APAC, although factors such as varying regulations on genetic testing and research may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the genetic testing industry in APAC. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Genetic Testing Market Driver in APAC
The rising approval of advanced genetic testing products is one of the key drivers supporting the genetic testing market growth in APAC. The increasing availability of authorized tests in the genetic testing market in APAC helped optimize the balance between consumer demand and commercial sovereignty substantially, in addition to safeguarding public health safety. The rising availability of advanced genetic test products increased their demand from end-users. For instance, since the first pre-market approval of direct-to-consumer tests in 2017, the number of individuals undergoing such tests increased by 200%. Moreover, success in product approval won the trust of investors, thereby facilitating a favorable business ecosystem and directing swift inflow of capital into R&D. Such factors will create high prospects of market growth during the forecast period.
Key Genetic Testing Market Trend in APAC
The advancements in next-generation sequencing is another factor supporting the genetic testing market growth in APAC. Sequencing innovations such as long-read sequencing have overcome sequence reading shortcomings of the widely used short-read sequencing technology, which only allows sequence reading up to 300 base pairs. The long-read sequencing technology has enabled end-users to perform sequencing reads between 10,000 and 900,000 base pairs. This has helped to efficiently perform sequencing of the long human genome, thereby simplifying diagnostic sequencing during genetic testing procedures in clinical settings. Thus, the growing adoption of advanced NGS technology in genetic testing is helping in increasing the efficiency of tests and lowering the cost, which is expected to further drive the growth of the genetic testing market in APAC.
Key Genetic Testing Market Challenge in APAC
The varying regulations on genetic testing is one of the factors hindering the genetic testing market growth in APAC. Genetic test results used in in-vitro diagnostics directly impact the decision-making capability of healthcare practitioners while treating critical health conditions. Thus, accuracy, safety, and the reliability of genetic testing procedures are vital. This has resulted in the enforcement of stringent and complex regulations on genetic testing products by various national and international regulatory authorities. Results provided to patients by clinical laboratories using assays are subjected to legal obligations pertaining to the reproducibility of test results and adherence to high standards of specificity and sensitivity. Such variations in standards among regulatory authorities will limit the market growth during the forecast period.
This genetic testing market in APAC analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the genetic testing market in APAC as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the genetic testing market in APAC during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the genetic testing market in APAC encompasses successful business strategies deployed by the key vendors. The genetic testing market in APAC is fragmented and the vendors are deploying growth strategies such as differentiating their products based on device quality, the accuracy of results, and associated value-added services to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The genetic testing market in APAC forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the genetic testing market in APAC, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the healthcare equipment market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
China and India are the key markets for the genetic testing market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing incidences of cancer and the growing demand for timely treatment will facilitate the genetic testing market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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***1. Executive Summary
**1.1 Market Overview
*Exhibit 01: Key Finding 1
*Exhibit 02: Key Finding 2
*Exhibit 03: Key Finding 5
*Exhibit 04: Key Finding 6
*Exhibit 05: Key Finding 7
***2. Market Landscape
**2.1 Market ecosystem
*2.1.1 Parent Market
*Exhibit 06: Parent market
*Exhibit 07: Market characteristics
**2.2 Value chain analysis
*Exhibit 08: Value chain analysis: Healthcare Equipment Market
*2.2.1 Research and development
*2.2.2 Inputs
*2.2.3 Operations
*2.2.4 Distribution
*2.2.5 Marketing and sales
*2.2.6 Post-sales and services
*2.2.7 Industry innovations
***3. Market Sizing
**3.1 Market definition
*Exhibit 09: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 10: Market segments
**3.3 Market size 2021
**3.4 Market outlook: Forecast for 2021 - 2026
*Exhibit 11: Global - Market size and forecast 2021 - 2026 ($ million)
*Exhibit 12: Global market: Year-over-year growth 2021 - 2026 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 13: Five forces analysis 2021 & 2026
**4.2 Bargaining power of buyers
*Exhibit 14: Bargaining power of buyers
**4.3 Bargaining power of suppliers
*Exhibit 15: Bargaining power of suppliers
**4.4 Threat of new entrants
*Exhibit 16: Threat of new entrants
**4.5 Threat of substitutes
*Exhibit 17: Threat of substitutes
**4.6 Threat of rivalry
*Exhibit 18: Threat of rivalry
**4.7 Market condition
*Exhibit 19: Market condition - Five forces 2021
***5.Market Segmentation by Product
**5.1 Market segments
*Exhibit 20: Product - Market share 2021-2026 (%)
**5.2 Comparison by Product
*Exhibit 21: Comparison by Product
**5.3 Equipment - Market size and forecast 2021-2026
*Exhibit 22: Equipment - Market size and forecast 2021-2026 ($ million)
*Exhibit 23: Equipment - Year-over-year growth 2021-2026 (%)
**5.4 Consumables - Market size and forecast 2021-2026
*Exhibit 24: Consumables - Market size and forecast 2021-2026 ($ million)
*Exhibit 25: Consumables - Year-over-year growth 2021-2026 (%)
**5.5 Market opportunity by Product
*Exhibit 26: Market opportunity by Product
***6 Market Segmentation by Application
**6.1 Market segments
*Exhibit 27: Application - Market share 2021-2026 (%)
**6.2 Comparison by Application
*Exhibit 28: Comparison by Application
**6.3 Cancer diagnosis - Market size and forecast 2021-2026
*Exhibit 29: Cancer diagnosis - Market size and forecast 2021-2026 ($ million)
*Exhibit 30: Cancer diagnosis - Year-over-year growth 2021-2026 (%)
**6.4 Genetic disease diagnosis - Market size and forecast 2021-2026
*Exhibit 31: Genetic disease diagnosis - Market size and forecast 2021-2026 ($ million)
*Exhibit 32: Genetic disease diagnosis - Year-over-year growth 2021-2026 (%)
**6.5 Cardiovascular disease diagnosis - Market size and forecast 2021-2026
*Exhibit 33: Cardiovascular disease diagnosis - Market size and forecast 2021-2026 ($ million)
*Exhibit 34: Cardiovascular disease diagnosis - Year-over-year growth 2021-2026 (%)
**6.6 Others - Market size and forecast 2021-2026
*Exhibit 35: Others - Market size and forecast 2021-2026 ($ million)
*Exhibit 36: Others - Year-over-year growth 2021-2026 (%)
**6.7 Market opportunity by Application
*Exhibit 37: Market opportunity by Application
***7. Customer landscape
**7.1 Overview
*Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
*Exhibit 38: ?Customer landscape?
***8. Drivers, Challenges, and Trends
**8.1 Market drivers
*8.1.1 Rising approval of advanced genetic testing products
*8.1.2 Increasing application of genetic testing in oncology
*8.1.3 Rising strategic partnership
**8.2 Market challenges
*8.2.1 Varying regulations on genetic testing and research
*8.2.2 High cost of genetic testing
*8.2.3 Social and ethical implications of genetic testing
*Exhibit 39: Impact of drivers and challenges
**8.3 Market trends
*8.3.1 Advancements in next-generation sequencing
*8.3.2 Rising adoption of genetic tests for COVID-19
*8.3.3 Growing adoption of pharmacogenetic testing in reducing adverse drug events
***9. Vendor Landscape
**9.1 Overview
*Exhibit 40: Vendor landscape
**9.2 Vendor Disruption
*Exhibit 41: ?Landscape disruption?
*Exhibit 42: Industry risks
**9.3 Competitive Scenario
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 43: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 44: ?Market positioning of vendors?
**10.3 Abbott Laboratories
*Exhibit 45: Abbott Laboratories - Overview
*Exhibit 46: Abbott Laboratories - Business segments
*Exhibit 47: Abbott Laboratories – Key news
*Exhibit 48: Abbott Laboratories - Key offerings
*Exhibit 49: Abbott Laboratories - Segment focus
**10.4 Bio Rad Laboratories Inc.
*Exhibit 50: Bio Rad Laboratories Inc. - Overview
*Exhibit 51: Bio Rad Laboratories Inc. - Business segments
*Exhibit 52: Bio Rad Laboratories Inc. – Key news
*Exhibit 53: Bio Rad Laboratories Inc. - Key offerings
*Exhibit 54: Bio Rad Laboratories Inc. - Segment focus
**10.5 Danaher Corp.
*Exhibit 55: Danaher Corp. - Overview
*Exhibit 56: Danaher Corp. - Business segments
*Exhibit 57: Danaher Corp. – Key news
*Exhibit 58: Danaher Corp. - Key offerings
*Exhibit 59: Danaher Corp. - Segment focus
**10.6 Exact Sciences Corp.
*Exhibit 60: Exact Sciences Corp. - Overview
*Exhibit 61: Exact Sciences Corp. - Business segments
*Exhibit 62: Exact Sciences Corp. – Key news
*Exhibit 63: Exact Sciences Corp. - Key offerings
*Exhibit 64: Exact Sciences Corp. - Segment focus
*10.7 F. Hoffmann-La Roche Ltd.
*Exhibit 65: F. Hoffmann-La Roche Ltd. - Overview
*Exhibit 66: F. Hoffmann-La Roche Ltd. - Business segments
*Exhibit 67: F. Hoffmann-La Roche Ltd. – Key news
*Exhibit 68: F. Hoffmann-La Roche Ltd. - Key offerings
*Exhibit 69: F. Hoffmann-La Roche Ltd. - Segment focus
**10.8 Illumina Inc.
*Exhibit 70: Illumina Inc. - Overview
*Exhibit 71: Illumina Inc. - Product and service
*Exhibit 72: Illumina Inc. – Key news
*Exhibit 73: Illumina Inc. - Key offerings
**10.9 Mapmygenome India Ltd.
*Exhibit 74: Mapmygenome India Ltd. - Overview
*Exhibit 75: Mapmygenome India Ltd. - Product and service
*Exhibit 76: Mapmygenome India Ltd. - Key offerings
**10.10 Myriad Genetics Inc.
*Exhibit 77: Myriad Genetics Inc. - Overview
*Exhibit 78: Myriad Genetics Inc. - Business segments
*Exhibit 79: Myriad Genetics Inc. – Key news
*Exhibit 80: Myriad Genetics Inc. - Key offerings
*Exhibit 81: Myriad Genetics Inc. - Segment focus
**10.11 QIAGEN NV
*Exhibit 82: QIAGEN NV - Overview
*Exhibit 83: QIAGEN NV - Business segments
*Exhibit 84: QIAGEN NV – Key news
*Exhibit 85: QIAGEN NV - Key offerings
*Exhibit 86: QIAGEN NV - Segment focus
**10.12 Thermo Fisher Scientific Inc.
*Exhibit 87: Thermo Fisher Scientific Inc. - Overview
*Exhibit 88: Thermo Fisher Scientific Inc. - Business segments
*Exhibit 89: Thermo Fisher Scientific Inc. – Key news
*Exhibit 90: Thermo Fisher Scientific Inc. - Key offerings
*Exhibit 91: Thermo Fisher Scientific Inc. - Segment focus
***11. Appendix
**11.1 Scope of the report
*11.1.1 ????Market definition
*11.1.2 ????Objectives
*11.1.3 ????Notes and caveats
**11.2 Currency conversion rates for US$
*Exhibit 92: ?Currency conversion rates for US$?
**11.3 Research Methodology
*Exhibit 93: ?Research Methodology
*Exhibit 94: ??Validation techniques employed for market sizing?
*Exhibit 95: ??Information sources
**11.4 List of abbreviations
*Exhibit 96: List of abbreviations
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