(MENAFN- America News Hour)In a recent published report, Kenneth Research has updated the market report for Genetic Sequencing Test Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Genetic Sequencing Test Market products.
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Kenneth Research has recently added a report titled Genetic Sequencing Test Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The Genetic Sequencing Test Market was valued at USD 3750 Million in the year 2018. Increase in number of old age population, increase in number of diseases, decrease in the cost of sequencing, increasing need for better healthcare are the basic reasons behind increased demand for the global sequencing market. Global Genetic Sequencing Test Market will continue to grow as the leading companies launch new sequencing products with increased efficiency and less time consumption. Therefore, usage by healthcare set ups, research institutes, biotechnology centres is increasing. These markets are influenced by the cost factor for the end users. Also developing countries, which suffer from lack of funding, are not able to use this technology to the fullest.
On the basis of Technology, the segments are First Generation Sequencing and Next Generation Sequencing. The older technology is costly as well as time consuming but it is still considered as“Gold Standard” to validate the result obtained by next generation sequencing. Next Generation Technology provides long reads which have drastically reduced the cost and result annotation time.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Among the country, United States of America currently leads the genetic sequencing market owing to considerable investments being done in healthcare sector. Also, presence of leading market players like Illlumina in this region makes the technology more readily available. Moreover, countries like China, India, Germany, Netherlands, Saudi Arabia are expected to grow faster owing to increased investment in the research and development.
Scope of the Report
Global Genetic Sequencing Test Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Genetic Sequencing Test Market – Size, Growth, Forecast
• Analysis by Product Type: Instruments, Consumables, Services
• Analysis by Technology: First Generation Sequencing, Next Generation Sequencing
• Analysis by Test Type: Diagnostic testing, Non-Invasive Pre-Natal testing, others
• Analysis by End User: Academic and Research Institutes, Healthcare
Country Analysis – U.S., India, China, France, Rest of the World (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Analysis by Product Type: Instruments, Consumables, Services
• Analysis by Technology: First Generation Sequencing, Next Generation Sequencing
• Analysis by Test Type: Diagnostic testing, Non-Invasive Pre-Natal testing, others
• Analysis by End User: Academic and Research Institutes, Healthcare
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Other Report Highlights
• Competitive Landscape
• Leading Companies
• Market Dynamics – Drivers and Restraints.
• Market Trends
• SWOT Analysis.
• Company Analysis – Illumina, F. Hoffman- La Roche Holding AG, Agilent Technologies, Qiagen, Pacific Biosciences, Thermo Fisher Scientific, BGI, Oxford Nanopore Technologies, Bio-Rad Laboratories, Macrogen.
Customization of the Report
The report could be customized according to the client's specific research requirements. No additional cost will be required to pay for limited additional research.
About Kenneth Research:
Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products' demand, growth and opportunities for new and existing players.
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Darlene Dooley
Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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