The Europe genetic testing market is estimated to record a CAGR of 10.04% during the forecast period, 2022-2030. Market growth is driven by the presence of major biotechnology and medical companies, easy access to government subsidies for medical procedures, and efficient healthcare systems.
The Europe genetic testing market growth analysis includes the assessment of Russia, Spain, the United Kingdom, Germany, Nordic Countries, France, Italy, and Rest of Europe. In Spain, the requirement for genetic testing equipment is growing with many major companies in the domain. Also, genetic counseling is another space for patients. Companies are actively engaging genetic counselors and clinical geneticists to provide genetic information to the public. In addition, the increasing awareness of genetic testing is set to positively affect the market growth in Spain.
There are about 560,000 births per year in Italy, thereby increasing the potential for prenatal testing nationally. Moreover, 80% of the Italian biotech sector consists of small and micro companies, which influences the overall market growth.
Moreover, Russia plans to initiate special digital genetic passports consisting of genome sequencing of every citizen of the country. According to the recent statements made by the Russian federal government and some analysts, the data could be further used to form genetic profiles and identify susceptibility to diseases. These decisions will positively influence market growth by increasing the demand for genetic testing.
Some key market players in the region include Roche Diagnostics Inc, Perkinelmer Inc, Bio-Rad Laboratories, Abbott Laboratories, Qiagen, etc.
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- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments