To thrive in this competitive market, companies are greatly advantaged if they adopt innovative solutions such as US genetic testing market size research report. A number of estimates and calculations have been performed in this market report assuming a defined base year and historical year. The market document also provides the knowledge of all the drivers and restraints which are derived from the SWOT analysis. The U.S. Genetic Testing Market report considers various factors which have a strong effect on business growth including historical data, current market trends, environment, technological innovation, technologies to coming and technical advancements in the healthcare industry.
The market is expected to grow from USD 4.38 billion in 2020 to USD 10.29 billion in 2027 at a CAGR of 13.0% during the period 2020-2027.
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The U.S. genetic testing market is boosted by the rise in cases of male pattern baldness. The incidence of male pattern baldness has become common among men globally. The prevalence of the disease increases with increasing risk factors such as smoking, poor dietary habits, stress, and deficiency of essential nutrients and minerals. Rising cases of male pattern baldness have increased the adoption of hair transplants which, in turn, is driving the growth of the market.
Drivers and Constraints
One of the main drivers of growth in the US genetic testing market is the strong demand for early and preventative care. The growing economic burden of treating disease is leading to greater focus by health care providers and governing bodies on early diagnosis and screening for health risks. According to the Centers for Disease Control and Prevention (CDC), chronic diseases such as cardiovascular disease in the US healthcare system account for approximately $320 billion per year, in direct and indirect costs.
The competitive landscape of the US genetic testing market has been discussed in detail. The report sheds light on the leading companies, their performance over the past few years and their key strategies. The US Genetic Testing Market report provides a comprehensive assessment of several factors that have contributed to market growth in recent years. In addition to the growth drivers, the report also discusses the challenges faced by the market. Additionally, the report provides forecast values for the market for the period 2020-2029. Additionally, it identifies the areas that have seen the highest demand and applications for the product in recent years. Additionally, some of the key products, major companies, and major recent developments in the industry have been highlighted in this report.
The healthcare industry is involved in providing medical insurance, facilitating the delivery of healthcare to patients, providing medical supplies and equipment, and several other things. At Fortune Business Insights, we find the pain points of these business vendors and provide them with the best research reports that allow them to gain an edge in the industry.
Key Players Covered in the Global US Genetic Testing Market Research Report:
- Invitae Corporation (San Francisco, USA)
- Ambry Genetics (Aliso Viejo, USA)
- BioReference Laboratories, Inc. (Elmwood Park, USA)
- Progenity, Inc. (San Diego, USA)
- Quest Diagnostics Incorporated (Secaucus, USA)
- Myriad Genetics, Inc. (Salt Lake City, USA)
- Fulgent Genetics (Temple City, USA)
- Burning Rock Biotech Limited (Guangzhou, China)
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Table of Contents US Genetic Testing Market:
- Introduction US Genetic Testing Market
- Research Scope US Genetic Testing Market
- Market Segmentation U.S. Genetic Testing Market
- Research Methodology US Genetic Testing Market
- Definitions and Assumptions US Genetic Testing Market
- Executive Summary of the US Genetic Testing Market
- Market Dynamics U.S. Genetic Testing Market
- Market Drivers US Genetic Testing Market
- Market Constraints US Genetic Testing Market
- Market Opportunities US Genetic Testing Market
- Key Insights US Genetic Testing Market
- Key Industry Developments – Mergers, Acquisitions and Partnerships U.S. Genetic Testing Market
- Porter’s Five Forces Analysis US Genetic Testing Market
- SWOT Analysis US Genetic Testing Market
- Technological Developments US Genetic Testing Market
- Value Chain Analysis U.S. Genetic Testing Market
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