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Europe Genetic Testing Services Market is expected to reach US$ 5840.9 Million by 2027 with CAGR of 11.4%. – Owned

Posted: July 9, 2020 at 2:17 pm

Genetic tests, also called DNA tests, are used to identify changes in DNA sequences or chromosomal structures. Genetic testing also includes measuring the consequences of genetic alterations, such as RNA analysis as an output of gene expression, and biochemical analysis to measure specific protein outputs.

The Europe Genetic testing services market is expected to reach US$ 5,840.9 Mn in 2027 from US$ 2,521.6 Mn in 2019. The market is estimated to grow with a CAGR of 11.4% from 2020-2027.

Genetic testing is a type of medical test that identifies changes in chromosomes, genes, or proteins. The results of genetic tests can help identify or rule out suspicious genetic conditions or determine the likelihood of someone developing or inheriting a genetic disorder.

A medical device is any device intended to be used for medical purposes. Medical devices benefit patients by helping health care providers diagnose and treat patients and helping patients overcome sickness or disease, improving their quality of life.

The healthcare industryis undergoing rapid transformations since a few years now. Various technological improvementshave been witnessedin the segments including diagnosis and treatment options for chronic diseases. The increase in incidences of chronic illnesses and the increasing ageing population are the primary factors fuelling the growth of healthcare segment.

The Europe Genetic Testing Servicesmarketis growing along with the healthcare industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.

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France has well-developed policies and strategies in place for improving the prevention of hereditary cancers. Also, France is planning to develop a national plan for personalized medicine. Genomic Medicine France 2025, which was published in 2016, which appeals for healthcare and manufacturing firms to pilot genomic sequencing platforms. By 2020 the aim is to establish a network of centers able to process around 235,000 samples for whole genome sequencing.

These factorsare expectedto offer broad growth opportunities in the healthcare industry and this is expected to cause the demand forimmunochemistryassays in the market.

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Europe Genetic Testing Services Market is expected to reach US$ 5840.9 Million by 2027 with CAGR of 11.4%. - Owned

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