Genetics is the study of inheritance in human beings, underlying the characteristics of children from parents. Moreover, it includes the study of gene structure, mutation analysis, genome organization and structure, genomic and cytogenetics imaging, physical and genetic mapping, molecular diagnostics, disease association studies, genetics of complex diseases, epistatic interactions, and several other concepts.
Developmental genetics, molecular genetics, population genetics, quantitative genetics, and human genetics are different types of genetic studies. It also helps to determine the different genetic factors responsible for diseases. It offers several advantages such as diagnosis, identification, and treatment of different diseases such as cardiovascular diseases, cancer, and other genetic diseases. The increasing number of patients with genetic diseases as well as increasing healthcare expenditure by major economies across the world are the factors driving the growth of the market. Additionally, the growing investments in R&D and increasing government support fosters the market growth.
On the other hand, several factors such as such as the high cost of instruments as well as the lack of skilled professionals are hindering the growth of the market. The genetic tests to screen the newborns are anticipated to enlarge immensely over the coming years. Microcephaly is a birth defect which is coupled with incomplete brain development and a small head in newborns that gets transferred from mother to her child. Such diseases are predicted to increase the application of the human genetic studies.
The global human genetics market is segmented on the basis of the region covering North America, Asia Pacific, Europe, and LAMEA. North America is considered as the biggest market for human genetics, owing to the advancements in the medical technology as well as the diagnostics and extensive use of new technologies in genetics. Moreover, the presence of major players also fuels the market growth. The U.S. is anticipated to dominate the market due to its importance in healthcare and the increase in the number of studies in genetics.
The European market is driven by the increasing government support for research and development activities and the increasing prevalence of several chronic genetic diseases. Considering the rapidly growing market, the growth is governed by the rising focus on research activities by key market players in the field of genetics and technological developments in Germany.
Moreover, in the Asia Pacific region, the market is driven by the rising awareness related to the research in genetic diseases and the steady increase in the occurrence of genetic diseases. Countries such as Japan, China, and India are considered as the major countries contributing to the market growth, owing to the availability of research facilities. Additionally, the growth can be attributed to the presence of skilled workforce such as several research scientists and others. Furthermore, the growing number of research institutes focusing on the diagnosis and treatment of genetic diseases with the help of increasing availability of funds and human genetics for research in the field of genetics maintains the growth of the market.
The market in the Middle East and Africa is predicted to hold the limited share due to the rising demand for the poor economic condition, research activities and healthcare services, and less development in medical facilities, particularly in Africa.
GE Healthcare has completed the acquisition of Puridify, a bio-processing UK start-up that is developing a nanofibre based platform purification technology for bio-pharmaceutical production in November 2017.
Human Genetics Market Segmentation:
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