Powerful realities regarding genetic testing market from 2018-2022.
According to Technavio analysts, the global genetic testing market will grow at a CAGR of over 10% during the forecast period. The increasing prevalence of genetic disorders is a major factor driving the market’s growth.
For those who are unfamiliar, the increasing occurrence of genetic mutations in fetuses and newborns, hereditary genetic disorders, and infectious diseases has increased the demand for genetic testing products. Infants born with congenital heart disease (CHD) have a survival rate of 95%.
Infants develop CHD due to factors such as genetic conditions, the consumption of medications or alcohol during pregnancy, or viral infection. Cancer is another chronic condition that is prevalent in several countries and is hereditary. Hereditary cancer could be caused by a change in certain genes that can be inherited from parents. Early diagnosis helps in delaying or preventing the onset of cancer and provide effective treatment.
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