The European genetic testing market accounted for USD 1.13 million in 2015 and is estimated to reach USD 1.22 billion in 2016. The market value is expected to reach USD 1.81 billion by 2021, growing at a CAGR of 8.2% during the forecast period.
Genetic testing has become quite prevalent in Europe over the last few years, with recent developments in molecular medicine expected to provide further impetus to this critical area. The integration of these technologies into the healthcare system necessitates that their application is implemented within a responsible framework of accompanying measures and activities.
As a consequence, genetic testing has been subjected to policy debates at various institutional and international levels. The European Commission has recognized certain salient topics involving genetic testing that need further clarity, including regional distribution of genetic services, suggestions for the rationalization of services, methods for improving national accreditation of genetic laboratories, long-term organization of external quality assessment, validation of next generation sequencing platforms and applications, and perspectives on direct-to-consumer genetic testing.
The report segments the market by type and geography. By type, the market is segmented into the carrier, diagnostic, newborn, predictive and presymptomatic, and prenatal testing. By geography, the market is segmented into Germany, France, Italy, the UK and the rest of Europe.
While Germany accounts for the largest share of the genetic testing market in Europe, the demand for these tests is likely to be the fastest growing in the United Kingdom during 2016-2021.
Some of the key players in Europe’s genetic testing market are:
Key Deliverables in the Study