LONDON–(BUSINESS WIRE)–Technavio market research analysts forecast the global prenatal DNA sequencing market to grow at a CAGR of almost 14% during the period 2018-2022, according to their latest report.
Increasing number of research activities on human genomics is a key trend, which is being witnessed in the market. There has been a growing interest among researchers to understand human genetic variations. One primary reason for studying human genetics is to establish the contribution of genetics to various human diseases. Therefore, understanding human genetics can improve the quality of diagnosis and treatment of diseases. The R&D expenditure for diseases such as cancer and diabetes has been increasing steadily. Several genomic projects focus on the diversity in human genomics research. For instance, certain projects focus on enhancing clinical research by founding different approaches to understanding the share of genomic variation in healthcare and the emergence of diseases in various populations.
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In this report, Technavio analysts highlight the increasing prevalence of cancer as a key factor contributing to the growth of the global prenatal DNA sequencing market:
Increasing prevalence of cancer
The prevalence of chronic diseases such as cancer and diabetes is increasing across the globe. According to research, in the US, around 1.5 million people were diagnosed with cancer, out of which approximately 591,686 people died in 2014. Therefore, the need for advanced healthcare models is increasing because of the growing demand for chronic care. The rising prevalence of chronic diseases has led to an increase in research funding for the discovery of new diagnostic tools.
According to a senior analyst at Technavio for life science research tools, “There has been an increase in funding for cancer between 2013 and 2016. Technological advances in precise detection and diagnosis of diseases focus on reducing the cost of treatment. With the growing number of genome mapping projects, the knowledge about genome sequencing and molecular diagnostics of diseases and pathways to develop personalized treatments has also increased.”
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Global prenatal DNA sequencing market segmentation
This market research report segments the global prenatal DNA sequencing market into the following applications (genetic diseases and non-genetic diseases) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major applications, the genetic diseases segment held the largest market share in 2017, accounting for nearly 67% of the market. The market share of this segment will decrease to some extent by 2022. But, this segment will dominate the market throughout the forecast period.
The Americas was the leading region for the global prenatal DNA sequencing market in 2017, contributing to a market share of more than 45%. It was followed by EMEA and APAC. The APAC region will post significant growth during the forecast period when compared with the other regions.
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