According to a new report published by Allied Market Research, titled, โHereditary Cancer Testing Market: Global Opportunity Analysis and Industry Forecast, 2020-2027” A hereditary cancer is any cancer caused by an inherited gene mutation. An inherited gene means it is passed from parent to child within a family. Harmful variants in some genes are known to be associated with an increased risk of developing cancer. Genetic testing helps estimate an individualโs chance of developing cancer in his or her lifetime. This can be done by searching for specific changes in oneโs genes, chromosomes, or proteins. These changes are called mutations. Genetic tests are available for some types of cancer. These include breast cancer, ovarian cancer, colon cancer, thyroid cancer, prostate cancer, pancreatic cancer, melanoma, sarcoma, kidney cancer, and stomach cancer. This test helps in predicting risk of a particular disease.
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COVID-19 Scenario Analysis
The diagnostic tests for the COVID-19 pandemic were unavailable and professionals were not able to detect the disease in patients. The alternative diagnostic tests were used initially but were not that efficient which posed the increase in demand to find the accurate diagnostic kit. This unavailability of specific COVID-19 diagnostic tests is causing significant opportunities for diagnostic manufacturers to introduce their COVID-19 diagnostic kits. The key leading players as well as certain start-ups from various countries used this opportunity and also hence introduced COVID-19 diagnostics kits into global market. These key players achieved advantage other diagnostics players capitalizing the opportunity from demand for COVID-19 diagnostic tests, which, in turn, helps them in maintaining their revenues in such a crisis.
The major factor affecting the market includes the reduction in the cost of hereditary cancer testing would boost the industry. The rise in focus over the R&D of the genetic testing to analyze the correlation of the cancer with the genetic sequence to determine whether the sequence will cause cancer is anticipated to propel the market growth in the forecast period. The surge in the demand for the DNA testing kits is expected to help the industry grow. The increase in focus over womenโs reproductive health would help the market grow. The stringent regulations over the diagnostics of the cancer may hinder the industrial growth.
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The key players profiled in this report include Invitae Corporation, Illumina, Inc., Natera, Inc., Agilent Technologies, Inc., Quest Diagnostics Incorporated, Myriad Genetics, Inc., Laboratory Corporation of America Holdings, F. Hoffmann-La Roche Ltd, Cooper Surgical, Inc., Thermo Fisher Scientific, Inc., and Twist Bioscience.
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- This study presents the analytical depiction of the global hereditary cancer testing industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global market growth scenario.
- Porterโs five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in coming years.
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