Global Pediatric Genetic Testing Market: Analysis and Forecast, 2020-2030

Growth Drivers

• Significant Number of Pediatric Genetic Disorders causing Birth Defects and Deaths
• A Decrease in Cost of Genetic Testing Globally
• Advancements within Molecular Techniques for Clinical Diagnostics

Market Challenges

• Challenging Regulatory Scenario
• Uncertainty in Reimbursement of Genetic Testing

Market Opportunities

• Increasing Awareness for Newborn Genetic Testing and Counseling
• Rising Funding and Innovations

Key Companies Profiled

• Abbott Laboratories, Invitae Corporation, Fulgent Genetics., Agilent Technologies, Inc., PerkinElmer, Inc., Thermo Fisher Scientific Inc., Genomic Diagnostics, Unilabs, LifeCell International Pvt. Ltd., Trivitron Healthcare and Baebies, Inc.

Key Questions Answered in this Report:

• What are the initiatives implemented by different government bodies regulating the development and commercialization of genetic testing products and services?
• What are the leading companies dominating the global pediatric genetic testing market?
• What are the upcoming technologies that can take over the current technologies for pediatric genetic testing?
• What is the reimbursement scenario of the products offered in the global pediatric genetic testing market?
• What is the average cost of available technologies in pediatric genetic testing?
• Based on the application, which pediatric genetic testing application is anticipated to witness a massive rise in demand in the forecast period?
• What was the market value in 2019 of the leading segments and sub-segments of the global pediatric genetic testing market?
• How is each segment of the global pediatric genetic testing market expected to grow during the forecast period, and what is the revenue expected to be generated by each of the segments by the end of 2030?
• How is the industry anticipated to evolve during the forecast period 2020-2030?
• Which region is expected to contribute to the highest sales of the global pediatrics genetic testing market during the forecast period?
• What are the leading trends and consumer preferences witnessed in the global pediatric genetic testing markets?

Market Overview

Genetic testing within the newborns, infants, and adolescents is performed to identify the cause of developmental delay, multiple malformations, intellectual disability, and dysmorphic features, among others. The genetic tests are also used to rule out chromosomal abnormalities and single genes via various molecular and cytogenetic genetic techniques. These tests further can help the parents understand the reason behind the disorders and also manage the disease at an early stage.

The global pediatrics genetic testing market was valued $2,782.8 million in 2019, and it is expected to grow at an impressive double-digit rate of 14.30% and reach a value of 12,063.2 million in 2030.

The existing pediatric genetic testing market is favored by multiple factors, which include rising government initiatives, coupled up with the general population’s growing awareness pertaining to genetic conditions. Additionally, the increasing number of advancements in molecular diagnostics, more genetic counselors are some of the key driving factors for the pediatric genetic testing market.

Within the research report, the market is segmented on the basis of origin (somatic disorders and hereditary disorders ), sample type (tissue, bone marrow, blood and saliva), product type (kits, LDT tests, and reagents), disease type (neurological disorder, cardiac disorder, developmental disorder, and others), application area (academic and research, clinical diagnostics, drug discovery and monitoring and screening), and region (North America, Europe, Asia Pacific, Latin America, and Rest-of-the-World). This segmentation highlights value propositions and business models useful for industry leaders and stakeholders. The research also comprises country-level analysis, go-to-market strategies of leading players, future opportunities, among others, to detail the scope and provide a 360-coverage of the domain.

Competitive Landscape

The pediatric genetic testing market has witnessed 16 product offerings, two product approvals, nine partnerships and alliances, two mergers and acquisitions, and four business expansions in the past five years (January 2015- May 2020).

Major players within the pediatric genetic testing market are Quest Diagnostics, Centogene AG, Opko Health, Inc., Eurofins Scientific, Abbott Laboratories, Invitae Corporation, Fulgent Genetics., Agilent Technologies, Inc., PerkinElmer, Inc., Thermofisher Scientific, Genomic Diagnostics, Unilabs, LifeCell International Pvt. Ltd., Trivitron Healthcare and Baebies, Inc.

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