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Genetic Testing Market to Reach $21.26 Bn, Globally, by 2027 at 10.1% CAGR: Allied Market Research

- Increase in incidences of genetic disorders and cancer, surge in awareness & acceptance of personalized medicines, and advancements in genetic testing techniquesA fuel the growth of the global genetic testing marketPORTLAND, Ore., Oct. 19, 2020/PRNewswire/ -- Allied Market Research published a report, titled,A "Genetic Testing MarketA by Type (Predictive & Presymptomatic Testing, Carrier Testing, Prenatal & Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, and Others), Technology (Cytogenetic Testing, Biochemical Testing, and Molecular Testing), Application (Cancer diagnosis, Genetic Disease Diagnosis, Cardiovascular Disease Diagnosis, and Others): Global Opportunity Analysis and Industry Forecast, 2020a??2027" According to the report, the global genetic testing industry was estimated atA $12.68 billion in 2019, and is expected to reach $ 21.26 billion by 2027, registering a CAGR of 10.1% from 2020 to 2027.Download Detailed COVID-19 Impact Sample Report at: https://www.alliedmarketresearch.com/request-for-customization/5241?reqfor=covidA  Drivers, restraints, and opportunities-Increase in incidences of genetic disorders and cancer, surge in awareness & acceptance of personalized medicines, and advancements in genetic testing techniquesA fuel the growth of the global genetic testing market. On the other hand, standardization concerns of genetic testing-based diagnostics and stringent regulatory requirements for product approvals impede the growth to some extent. However, untapped emerging markets in developing countries is expected to create multiple opportunities for the key players in the industry.
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