Industry Research Report

Tuesday, 23 February 2021

Rapid Oral Fluid Screening Device Market Demand & Future Scope Including Top Players

The global rapid oral fluid screening device market size is predicted to reach USD 24.08 billion by 2027 according to a new study by Polaris Market Research. The report “Rapid Oral Fluid Screening Device Market Share, Size, Trends, Industry Analysis Report, By Drug Type (Alcohol, Marijuana, Opioids, Cocaine, Amphetamine, Methamphetamine, Benzodiazepines); By Forms (Cassettes, Swabs, Strips); By End User (Hospitals, Diagnostic Laboratories, Forensic Laboratories, Private Employers, Home care Setting); By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

In trend with the developing business models in healthcare sector, development of effective, efficient and productive products is on a significant surge, coupling with increasing favorable reimbursements and approvals by the government. Rising strong product pipelines for the research & development of novel rapid oral fluid screening devices also contribute a remarkable proportion towards surging the market growth globally over the forecast period.

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Furthermore, as the technology is becoming easy-to-develop and subject to a smaller number of regulations, the market is witnessing less entry hurdles for new entrants. Additionally, rapid oral fluid has ability to diagnose drug consumed in the body in less than one day and cannabis consumed in less than four hours after the testing time, hence, propelling the growth of rapid oral fluid screening devices, globally over the projected period.

Rapid oral fluid screening devices provide a wide range of screening abilities such as marijuana, cocaine, methamphetamine, and opioids are expected to drive rapid oral fluid screening device market growth over the forecast period. In addition, the growing need for drug screening across the regions owing to increasing consumption of illegal narcotics is expected to drive the demand for these devices in the coming years.

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The global rapid oral fluid screening device market players include OraSure Technologies, Inc., Oranoxis Inc., Guangzhou Wondfo Biotech Co., Ltd, UCP Biosciences, Inc., MEDACX Limited, Screen Italia Srl, and AccuBioTech Co. Ltd., among others. Moreover, developing and commercializing products that evaluate adherence to HIV medications, enhancing its product offerings to include additional diagnostic offerings, and building new infrastructure also adds towards the growth of the organizations.

Scientific Data Management System Market Demand & Future Scope Including Top Players

The global scientific data management system (SDMS) market size is expected to reach USD 551.4 million by 2027 according to a new study by Polaris Market Research. The report “Scientific Data Management System Market Size, Share & Trends Analysis Report By Deployment Mode (On-premise & Cloud), By End-Use (Laboratory, Research Institutes, Hospitals), By Region, And Segment Forecasts, 2020-2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Scientific data management system (SDMS) refers to the software solution that can be treated as an advanced document management system, used to capture, catalogue, and archive data which is being generated by the key laboratory instruments such as mass spectrometry (MS) and High Performance Liquid Chromatography (HPLC). It also records key information generated from the applications such as electronic laboratory notes, Laboratory Information Management System (LIMS), and other analytical applications. It is capable of recording unstructured, semi-structured, or structured data which is intended for clinical applications.

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SDMS also serves the data which is independent of platform that generates it and useful for the consumers. In addition, there are certain key features that differentiates it from various other key informatics systems including, the capability of the system to effectively handle heterogeneous or unstructured data and SDMS acts as a wrapper for different data systems such as electronic laboratory notebook (ELN) and LIMS. Further, SDMS is intended to consolidate data, implement knowledge management as well as identify key knowledge-based assets.

The prominent factors favoring the market growth include advancement in the system, rising demand owing to prevalence of COVID-19 and investments in the SDMS by key technology behemoths. For instance, according to the Analytics Insight June 2020 publication, a major advancement has been achieved in managing the historical data through the implementation of artificial intelligence (AI) algorithms in SDMS. The analytics platform and AI integrate to extract vital information through the use of this management system.

There are significant I/O requirements in several scientific applications relating to the overall data sets or number of key files and size of the scientific data. The planned storage, management, effective analysis and efficient access of this crucial scientific data is of utmost importance and also poses a notable challenge. Previously, two key solutions were being deployed for this purpose including, databases or file I/O.

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SDMS combine the positive characteristics of both databases and file I/O by offering an advanced level of application programming interface (API) to the end-users. SDMS deploys a concurrent file system to capture and store data in real-time through the deployment of different I/O optimizations.

SDMS also offers an automated framework to capture scientific data by integrating the core informatics platform with workflow and instruments that are present in the scientific laboratory. There are several benefits of the system including, minimizes the time required for entering the data and boosts the system performance. SDMS comprises of manual or automated file loading, creating several entity types through just one file and association with barcodes.

Market participants such as TIBCO Software Inc., Shimadzu Corporation, Merck KGaA, SciCord LLC, LabVantage Solutions Inc., Accelerated Technology Laboratories Inc., Abbott Laboratories, and Thermo Fisher Scientific Inc. are some of the key players operating in the global market.

Furthermore, companies are proactively introducing technologically-advanced cloud-based SDMS solutions for scientific laboratories that’s also increasing the demand for these solutions in the market. For instance, in July 2020, LabVantage Solutions, Inc. launched LabVantage platform version 8.5 that comprises of integrated scientific data management system. This fully functional and advanced SDMS solution precisely gathers data and offer high security to the laboratory instruments.

Diaphragm Pacing Therapy System Market Demand & Future Scope Including Top Players

The global Diaphragm Pacing Therapy System Market size is predicted to reach USD 7.57 million by 2027 according to a new study by Polaris Market Research. The report “Diaphragm Pacing Therapy System Market Share, Size, Trends, Industry Analysis Report, By Product Type (External diaphragm pacemaker, Diaphragm pacemaker); By Application (SCI, ALS, and Others); By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Diaphragm pacing is the less weighted battery-powered devices that works electrically and stimulates to nerves and diaphragm muscles. This allows diaphragm to contract flexibly so that air is filled into lungs and assist patients to breathe conveniently and smoothly. Diaphragm pacing includes affixing four electrodes into diaphragm muscle and one more fifth electrode just under the skin besides the other electrodes. The electrodes are further united to an external stimulator to allow an ongoing electrical impulse to the electrodes, resulting in contraction of diaphragm aids in smooth and normal breathing.

A serious ventilator-dependent person requires two mechanical ventilators, first as a primary and second as a contingency backup. Such machines need a significant amount of disposable supplies to operate accurately and securely. Once the pacing is done the patient is able to remove one of the ventilators, as the one should keep for emergency, and reducing a significant section of the associated supplies. Considering yearly replacement of external antennas, the monthly replacement of batteries, and situational supplies such as tape, alcohol preps, a diaphragm pacing system costs nearly USD1,000 per year or even less than that to operate. Rental of a mechanical ventilator and the costs of its disposables starts from USD 1,500 to USD 2,500 every month. Thus, the implantation of a diaphragm pacing system significantly have a return of investment of 3-4 years, and save USD 18,000 to USD 30,000 every year.

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The major driving factors of market are increasing new product developments, awareness amongst the citizens regarding the diaphragm pacing therapies, rising healthcare investments and need for technological advancement in healthcare sector. Additionally, increasing prevalence of amyotrophic lateral sclerosis (ALS) and Spinal Cord injury (SCI) surges the market growth. Moreover, increasing favorable regulations by the government for the approval of new products and rising reimbursement by the government and various private institution surges the market growth of diaphragm pace therapy system market globally. Further, rising strong product pipelines and clinical trials contributes significant growth to the diaphragm pace therapy market globally.

The increasing COVID-19 cases worldwide also contributes lucrative growth in the concerned market as COVID-19 treatment requires ventilators for the patients to breath and these DPTS are alternatives of ventilators hence, Diaphragm Pacing Therapy System allow normal breathing to the patients. Moreover, increasing research and development activities and rising awareness amongst the general public about the product.

Market participants such as Avery Biomedical Devices, Inc., Lungpacer Medical, Atrotech, Synapse Biomedical, and among others, are some of the key players operating in the global market. For instance, in April 2020, Lungpacer Medical got the U.S. FDA early market access clearance for the diaphragm pacing therapy system to assist in treating COVID-19 patients. These devices can be used as a substitute to the mechanical ventilator for patients with phrenic nerves, and diaphragm. Such initiative by the key market players helps them to increase their market share in the competitive market of Diaphragm Pacing Therapy System, globally.

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Percutaneous Coronary Intervention (PCI) Devices Market Demand & Future Scope Including Top Players

The global percutaneous coronary intervention (PCI) devices market size is expected to reach USD 11.4 billion by 2027 according to a new study by Polaris Market Research. Coronary artery disease (CAD) is causing most of deaths globally. The factors contributing to the disease include sedentary lifestyle, smoking, obesity, hereditary factors and alcohol usage. The mortality rate of CAD has been tremendously increasing grabbing the attention for researchers and clinicians globally, With the technological advancements in stent technologies, design of the guide wires, advent of next generation coronary catheters (percutaneous transluminal coronary angioplasty (PTCA), percutaneous transluminal angioplasty (PTA) balloon catheters ), and the availability of coronary guide wires (steel based, nitinol based ) increased the treatment scope of the coronary heart diseases.

Polaris Market research has segmented the percutaneous coronary intervention (PCI) devices market report on the basis of product, end-use and region

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The emergence of dedicated catheterization labs in high income countries is also pivotal factor influencing the growth of the PCI devices market. The next generation Cath labs offers advanced services and performs interventional therapeutic procedures such as PCI, PTCA, epicardial ablations of ventricular tachycardia, aortic valve replacements and mitral valve repairs. Additionally, they also perform interventional cardiac electrophysiological procedures, pacemaker implantation and cardiac defibrillator implantation. The number of PCI procedures and other cardiac interventions is substantially increasing with the increase in the cardiovascular diseases globally.

To increase the performance of multi-specialty hospitals, many government and private hospitals are setting up catheterization labs for improved service offerings. This concept is gaining popularity for PCI procedures in Canada, the US, the UK, Germany, and other western countries. The factors favoring its growth include the conversion of physician’s office to alternate hospital providers, surgeons’ relationship with the manufacturers to eliminate the need of general practitioner officers (GPO), and the expansion of services provided by the hospitals.

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Market participants such as Abbott, B. Braun, ASAHI INTECC Company Limited, Biosensors International Group, Ltd, Boston Scientific Corporation, C. R. Bard, BIOTRONIK, Comed BV, Cook, Meril Lifesciences, Cordis, Medtronic PLC, Merit Medical System, and Terumo Corporation are some of the key players operating in the percutaneous coronary intervention (PCI) devices market. Key vendors are investing huge amounts into their R&D and introducing new technologies and launching new products to stay competitive in this market. Several products were launched in the recent past with the latest next generation technology which caters the growing needs of the physician and the patients.

U.S. Durable Medical Equipment Market In-depth Industry Analysis with current trends and Future Estimations

The U.S. Durable Medical Equipment market size is expected to reach USD 76.32 billion by 2026 according to a new study by Polaris Market Research. The medical device manufacturers are developing new and improved equipment based on durability and reliability to improve the quality of life of the patients in need. With growing demand for home healthcare, the adoption of home care equipment is also increasing. Several new organizations are established that are launching and scaling advanced home care models to move primary, acute, and palliative care to the home. There are numerous dynamics that are driving patient’s preference for healthcare settings specifically towards home which in-turn is enhancing the adoption of durable medical equipment across various regions.

The primary factor driving the growth of durable medical equipment market in the U.S. is growing aging population and increasing demand for assisted care in a comfortable environment. Currently, there are over 40 million people in the U.S. alone aged 65 years & above and this number is anticipated to double by 2050. Rapidly growing geriatric population, which forms the key target population for DME, is anticipated to bolster the growth of the market over the forecast period. Furthermore, increasing prevalence of chronic diseases, growing technological advancements, and increasing government initiatives to improve healthcare are some other factors fueling the growth of this market. The rising geriatric population is expected to increase susceptibility toward chronic conditions such as diabetes, cardiovascular disorders, and other lifestyle disorders. With an ever-increasing prevalence of diseases and baby boomer population, healthcare expenditure levels are expected to continue to grow during the forecast period. The growth of home healthcare as a cost-effective alternative over hospital stay is expected to serve this market as a key driver over the forecast period.

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The key players in the market include Invacare Corporation, Sunrise Medical, ArjoHuntleigh, Hill Rom, Inc, Stryker Corporation, Medline Industries Inc., Drive Medical, GF Health Products Inc., and Carex Health Brands, Inc. among others.

Though many factors are driving the market growth, there are several issues that have a negative impact on the market. Failure to meet the desired performance is another vital reason why healthcare professionals hesitate from using DME, especially personal mobility devices. At times, while carrying obese patients, these equipment tend to break, which usually happens due to wear and tear. In such situations, the patient is at greater risk and prone to severe accidents and injuries. Also, DME are primarily used in the home healthcare settings and the fact that remuneration for home health & personal aides are significantly lower than other personal care & service workers and well below the median for all occupations discourages individuals to take up home health aide as a profession, which is expected to restrain market growth.

The U.S. DME market is expected to witness a significant growth during the forecast period. Based on several government initiatives and insurance coverage, it is easy for the patients to use these equipment at a low cost. Both Medicare and Medicaid offer coverage for DME that are prescribed by the doctor for home use. Most DME can be purchased without prescription, however, some devices such as oxygen equipment require prescription. In addition, prescription becomes essential in case of reimbursement or the coverage.

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Furthermore, numerous companies are launching technologically advanced systems to improve the usage and sales of DME. For instance, in August 2018 Somnoware, launched its enhanced durable medical equipment DME ordering capability for enterprise healthcare systems. Also, in May 2019 Breg, Inc., launched Breg Vision 7.0, in Apple’s app store, the next generation of its paperless workflow management system for orthopedic providers, to automates and optimizes in-house durable medical equipment (DME) programs. Such activities not only improves the existing technologies but also helps smoothen the purchase and usage process for the patients.

Lewy Body Dementia Treatment Market Demand & Future Scope Including Top Players

The global Lewy body dementia treatment market size is predicted to reach USD 5.31 billion by 2027 according to a new study by Polaris Market Research. The report “Lewy Body Dementia Treatment Market Share, Size, Trends, Industry Analysis Report, By Drug Type (Modafinil, Cholinesterase Inhibitors, Benzodiazepine, Antipsychotic Drugs, Anti-depressants, and Carbidopa-Levodopa); By Indication [Parkinson’s Disease and Dementia with Lewy Bodies (DLB)]; By Distribution Channel; By Regions Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Lewy body dementia is a progressive disorder associated with dysfunction of the central nervous system and characterized by deposits of alpha-synuclein, a protein in the brain. The unusual deposits in the brain formed Lewy bodies, which can lead to several problems with body movement, thinking, mood, and behavior. Lewy body dementia is the most common disease after Alzheimer’s which is rapidly growing and subsequently foster global market growth. Recent developments include the new launches and clinical studies such as LY3154207, ABBV-0805, etc. The launches of drugs are associated with the diagnosis of dementia with Lewy body, Parkinson’s, and Alzheimer’s diseases which further leads to drive the growth of the global market.

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The prominent factors favoring the global market growth include the rising initiatives by the legal and regulatory authorities to develop an effective and safe treatment for the LBD disorder in the patients. For instance, in October 2019, an LBD Association Research Center of Excellence, Georgetown University Medical Center, has taken the initiative to offer 3 clinical trials to devise new methods and treatments for Lewy body dementia and Alzheimer’s disease.

Rising incidences of getting affected by Alzheimer’s disease and related disorders include vascular dementia, Lewy body dementia, frontotemporal degeneration, and Parkinson’s disease has witnessed the surge in demand for the treatment of the patients. The regulatory authorities and researchers are engaged in discovering new methods and solutions to provide effective treatment of the disorder.

For instance, in June 2020, The Harry T. Mangurian, Jr. Foundation and Florida Atlantic University’s Schmidt College of Medicine have amalgamated its forces to discover and research medicine to prevent dementia. The grant of USD 3 million will allow FAU’s Schmidt College of Medicine to establish a new FAU Center for Brain Health. Furthermore, in July 2020, the Journal of the American Medical Association (JAMA) has published that researchers have formed a new p-tau217 blood test, which is proved to hold remarkable results in the diagnosis of Alzheimer’s disease and related disorders in the patients.

Additionally, the rising prevalence of the progressive diseases of dementia has raised the need for effective treatment to treat the disease and prevent risk in the patients which further leads to drive growth. The growing awareness of the symptoms of the disease and the advancement in healthcare technology to develop new methods and drugs for the treatment of patients is likely to surge the market growth.

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Market participants such as Mallinckrodt Pharmaceuticals, BioArctic AB, Bausch Health Companies Inc., Sumitomo Dainippon Pharma Co., Ltd., Janssen Pharmaceuticals, Inc., Jazz Pharmaceuticals, Inc., Allergan Plc., Noven Pharmaceuticals, Inc., Takeda Pharmaceutical Company Ltd., Eli Lilly and Company, Eisai Co., Ltd., Novartis AG, GlaxoSmithKline, Pfizer Inc., Teva Pharmaceuticals, Bayer AG, Sanofi AG, and Mylan NV are some of the key players operating in the industry.

Players in the industry are focusing on developing new methods and drugs for LBD, new launches, increasing expansions, collaborations, and partnerships to enhance their market and revenue share. For instance, in August 2020, Proteostasis Therapeutics, Inc. and Yumanity Therapeutics entered into a definitive merger agreement, and after combining they operate under the name Yumanity Therapeutics, Inc. The merger leads to enhance Yumanity’s pipeline of innovative, disease-modifying methods and solutions for neurological disorders.

Polaris Market Research has segmented the Lewy Body Dementia Treatment market report on the basis of drug type, indication, distribution channel, and region

Lewy Body Dementia Treatment Market By Drug Type (Revenue – USD Million, 2016 – 2027)

Modafinil
Cholinesterase Inhibitors
Benzodiazepine
Antipsychotic Drugs
Antidepressants
Carbidopa-Levodopa

Lewy Body Dementia Treatment Market By Indication (Revenue – USD Million, 2016 – 2027)

Parkinson’s Disease
Dementia with Lewy Bodies (DLB)

Lewy Body Dementia Treatment Market By Distribution Channel (Revenue – USD Million, 2016 – 2027)

Drug Stores
Hospitals Pharmacies
Online Pharmacies
Retail Pharmacies

Monday, 22 February 2021

North America Smart Airport Market Volume Analysis, Segments, Value Share and Key Trends

The North America Smart Airports Market size is expected to reach USD 7.74 billion by 2026 according to a new study by Polaris Market Research. The report “North America Smart Airport Market Share, Size, Trends, Industry Analysis Report By Technology Type (Security Systems, Communication Systems, Passenger, Cargo & Baggage Ground Handling Control, Air/Ground Traffic Control, Endpoint Devices) Component Type (Hardware, Software, Services); By Application Type (Aeronautical Operations, Non-Aeronautical Operations), By Location Type (Landside, Airside, Terminal Side); By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Passengers usually face problems in airport regarding long queues, waiting lines, security check-ins, less real-time information, flight delays, less space in airport, lack of proper customer service, improper baggage handling, lost baggage complaints and lack of facilities for overcoming all these problems airports across the globe are heading towards smart airport for providing better and seamless personalized experience to passengers. Growing demand of automated and self-service processes and growing demand of real time information in airport is driving North America smart airport market.

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Smart airport security system technology is driving the market as various airports are implementing new innovative smart components such as, flight booking management, automatic check-in, way finding services to automated security checks and border control. The substantial growth prospects of the smart airport market can be attributed to the efforts undertaken by airports across the globe to enhance their business processes and provide optimized services. Airport operators are investing heavily on IT and digital technology for enhancing customer experience. Furthermore, smart airport landside location is adopting digital technologies such as, transport synchronization, real-time flight information, advanced booking and intelligent passenger steering for enhancing passenger experiences and other features. Moreover, Airside is upgrading in various domain such as, In-wallet scanning, geolocation of vehicles and coordination of vehicles with real time information of landing aircrafts. Modernization of old airports, introduction of new airports, development in commercial aviation, and increasing focus on green initiatives are the key growth drivers expected to boost market for smart airports in North America.

Cyber security threats are the major concern which may bother passengers in sharing their details with the smart airport system. Also, unauthorized usage of the system poses a threat to the airport administration IT solutions, central reservation systems, and passenger name records. It also includes unauthorized modification of software and hardware or any IT and communication system. Physical attacks in the form of vandalism, sabotage and explosives on airport assets can result in losses to the stakeholders and assets. Furthermore, human error is also one of the biggest threat which is caused by network administrators. Configuration errors can negatively impact security or operations in the form of cancelled flights, and system down time. Similarly end users, such as, airport employees can make errors by filling wrong passenger information.

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The North American smart airports market was dominated by the US in 2018, however Canada is expected to witness faster growth during the forecast period. As US has the busiest airports, and the flying volume is increasing at a substantial rate each year, many airports here are in need of better ways to process the flyers. Implementation of robotics, artificial intelligence and machine learning is currently in trend in the US aviation industry. In Miami international airport, beacons technology is used for sending message and guiding location to passenger through navigation. The technology is helping airport in determining where passengers are congregating, and it further enhances in indoor mapping and sending relevant information to customers.

According to Architectural Record published in 2019, over 50 airports in the US are collectively projected to account for up to $70 billion in construction projects in the next three years. These projected not only focuses on renovation and modification, but also aims to refurbish, manufacture, install and operate the ITT systems. Furthermore, Canadian airports observed a 6.3% increase in overall traffic and a 9.8% increase in international footfall in 2017. This increasing passenger inflow has generated a greater need towards advanced technologies and thus is driving the growth of smart airports market in this region. Companies such as

The key players in the market include Amadeus IT Group S.A., Cisco Systems, Inc., Honeywell International Inc., International Business Machines (IBM) Corporation, QinetiQ Group Plc, Sabre Corporation, Siemens AG, Rockwell Collins Inc., Thales Group, and T Systems International GmbH among others.

Electronic & Consumer Goods Plastic Market Global Industry Analysis, Size, Share, Trends, Growth and Forecast 2020 - 2026

According to a new study published by Polaris Market, the global Electronic Contract Manufacturing Services market is anticipated to reach USD 554.2 billion by 2026. With the rising competition in the electronics industry, increasing cost reduction pressure on OEMs, complexity of electronic products, and decreased product lifecycles, the demand Electronic Contract Manufacturing Services market has boosted globally.

For attaining this, OEMs are seeking support from electronic contract manufacturing companies. These OEMs (hirer) subcontract electronic manufacturing contract companies to take advantage from their design expertise, supply chain management, and manufacturing capabilities. This helps the OEMs to leverage resources, reduce costs, access prominent manufacturing technologies, as well as reduce fixed capital investments and fulfil the Electronic Contract Manufacturing Services market demand.

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The major players operating in the electronic contract manufacturing services market include Flextronics International Ltd, Hon Hai Precision Industry (Foxconn), Universal Scientific Industrial Co Ltd, Shenzhen Kaifa Technology, Beyonics Technology, New Kinpo Group, Benchmark Electronics, Sanmina-SCI, Zollner Elektronik, Celestica, Jabil, Inc., and Elcoteq SE among others.

In addition to this, electronic contract manufacturing also helps in retaining in-house activities and control responsibilities including, quality assurance, product cost management, network solutions integration, customer service, order management, customer interactions, and introduction of new products. These factors are highly responsible for propelling the Electronic Contract Manufacturing Services market growth for electronic contract manufacturing services during the forecast period.

The design & engineering segment is expected to notice a high growth during the projected period attributed to increasing preference of OEMs for subcontracting their design requirements. Also, the global market is observing an increase in growth, with the surging demand for electronic circuit boards attributed to its rising significance in several electronic devices including, smart phones and tablets. Several OEMs are subcontracting their circuit assembly requirements to contract manufacturers, resulting in significant increase in their profit margins.

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The market operates in a highly competitive environment particularly, the players located in Taiwan and China are providing very economical subcontracted services for manufacturing. The current major focus of these vendors is to support and promote green technologies in their manufacturing processes. Another trend noticed in the current market scenario is increase in acquisitions, mergers and partnership activities. Moreover, the Electronic Contract Manufacturing Services market growth in the North American region is propelled by automotive as well as medical industries. Several R&D centers as well as healthcare institutes in North America are focused on the development of innovative diagnostic products that they plan to outsourcing from contract manufacturers. Such factors are expected to boost the market in the region.

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Hereditary testing Market Competitive Landscape and Outlook Report 2020-2026

The global hereditary testing market expected to reach USD 9.29 billion by 2027 according to a new study by Polaris Market Research. The report “Hereditary Testing Market Share, Size, Trends, Industry Analysis Report, By Disease Type (Hereditary Cancer Testing, Hereditary Non-Cancer Testing; By Technology (Cytogenetic, Biochemical, Molecular Testing); By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing need for timely diagnosis of genetic hereditary diseases and launch of cost-effective treatment options by the key players are the key factors responsible for market growth. According to the market statistics published by the organization dedicated for the rare diseases, over 300 million people are currently suffering from around 6,000 identified forms of rare disorders worldwide.

Technological advancements in the marketspace and use of cloud-based distribution model for laboratories to avail the bioinformatics is expected to have a positive impact on the hereditary testing growth. Furthermore, the increasing test volumes for genetic tests across the developed economies is expected to drive market demand for hereditary testing over the forecast period.

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Segment Highlights

The hereditary cancer testing market segment accounted for the largest revenue segment in 2019 owing to the increasing genetic tests for cancer in developed economies such as the U.S., UK, Canada, and France, among others

Europe market accounted for the largest revenue share in 2019 owing to the increasing tests across the region and technological advancement in the field of testing is expected to drive the market growth of hereditary tests over the forecast period

List of Key Players

Myriad Genetics, Inc.
Invitae Corporation
Illumina, Inc.
Natera, Inc.
Hoffmann-La Roche Ltd
Quest Diagnostics
Agilent Technologies, Inc.
Twist Bioscience
Sophia Genetics
Fulgent Genetic, Inc.
Medgenome
CENTOGENE N.V.
Others

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Polaris Market Research has segmented the hereditary testing market report on the basis of disease type, technology, and region

Hereditary Testing, Disease Type Outlook (Revenue – USD Million, 2016 – 2027)

Hereditary Cancer Testing
Lung Cancer
Breast Cancer
Colorectal Cancer
Cervical Cancer
Ovarian Cancer
Prostate Cancer
Stomach/Gastric Cancer
Melanoma
Sarcoma
Uterine Cancer
Pancreatic Cancer
Others
Hereditary Non-Cancer Testing
Genetic Tests
Cardiac Diseases
Rare Diseases
Other Diseases
Newborn Genetic Screening
Preimplantation Genetic Diagnosis & Screening
Non-invasive Prenatal Testing (NIPT) & Carrier Screening Tests

Hereditary Testing, Technology Outlook (Revenue – USD Million, 2016 – 2027)

Cytogenetic Testing
Biochemical Testing
Molecular Testing

Hereditary Testing Regional Outlook (Revenue – USD Million, 2016 – 2027)

North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
Latin America (Brazil, Mexico, Argentina)
MEA (Saudi Arabia, UAE, Israel, South Africa)