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Genetic Testing Market Worth $43.3 Billion by 2029 – Exclusive Report by Meticulous Research®

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Redding, California, Nov. 23, 2022 (GLOBE NEWSWIRE) — According to a new market research report, Genetic Testing Market By Product & Service (Consumables, Reagents, Instruments, Services), Test Type (Diagnostic, Prenatal, Carrier, Newborn, Preimplantation), Method (Molecular, Chromosomal), End User (Hospitals, Diagnostic Laboratories) – Global Forecast to 2029,’ published by Meticulous Research®, the genetic testing market is expected to grow at a CAGR of 11.6% from 2022 to reach $43.3 billion by 2029.

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Genetic testing involves identifying changes in genes, chromosomes, or proteins. This testing has been made possible by developing next-generation sequencing (NGS) technologies that allow large quantities of nucleic acid sequences to be obtained in a clinically meaningful time frame. Genetic testing involves the analysis of chromosomes, proteins, and certain metabolites to detect heritable disease-related genotypes, mutations, phenotypes, or karyotypes for clinical purposes. It involves diagnostic testing, newborn screening, prenatal testing, preimplantation testing, carrier testing, and other types of testing such as predictive testing or pre-symptomatic testing and forensic testing.

Some of the major factors driving the genetic testing market are the favorable government initiatives for promoting clinical genetic testing, increasing prevalence of genetic disorders, increased need for early disease detection & prevention, increasing applications of genetic testing in oncology, and decreasing cost of sequencing procedures. Furthermore, the growing scenario of genetic direct-to-consumer genetic testing and the emerging field of genetic counseling is expected to provide significant growth opportunities for this market.

However, factors such as the high cost of genetic testing and the social and ethical implications of genetic testing are expected to restrain the growth of this market to a notable extent. In addition, factors such as the low chances of positive, actionable mutations and genetic data privacy & security concerns are the major challenges to the growth of this market.

The Impact of COVID-19 on the Genetic Testing Market

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The coronavirus disease (COVID-19) outbreak in March 2020 impacted nearly every country around the globe. According to the WHO, as of 14th October 2022, there were 620.8 million confirmed cases and 6.5 million confirmed deaths. The continued outbreak of COVID-19 and its various escalations due to the Delta and Omicron variants has impacted the global genetic testing market to a certain extent. A negative impact was observed on the test volumes of various clinical genetic tests such as newborn screening, prenatal testing, preimplantation testing, and carrier testing, among others.

Further, due to the severe lockdowns and restrictions, there was a supply chain disruption and a shortage of skilled professionals. There were delays in test results and a shortage of test kits and other laboratory equipment. These factors hampered this market’s growth during the pandemic’s peak.

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The genetic testing market study presents historical market data in terms of values (2020 and 2021), estimated current data (2022), and forecasts it for 2029 – by Product & Service (Consumables & Reagents, Instruments, and Services), Test Type (Diagnostic Testing, Prenatal Testing, Carrier Testing, Newborn Screening, Preimplantation Testing, and Other Test Types), Method (Molecular Tests, Chromosomal Tests, and Biochemical Tests), End User (Hospitals & Clinics, Diagnostic Laboratories, Academic & Research Institutes, and Other End Users), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.

Based on product & service, in 2022, the consumables & reagents segment is estimated to account for the largest share of the genetic testing market. The large market share of this segment is attributed to factors such as recurring demand for consumables, test kits, & reagents; high demand for early disease diagnosis & treatment for genetic diseases; and increasing prevalence of cancer.

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Based on test type, in 2022, the diagnostic testing segment is estimated to account for the largest share of the genetic testing market. The large market share of this segment is attributed to the high adoption of genetic testing in cancer diagnostics, increased need for early disease diagnosis, technological advancements, increased accuracy of diagnosis using genetic testing, and high prevalence of cancer and other rare genetic disorders.

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Based on method, in 2022, the molecular tests segment is estimated to account for the largest share of the genetic testing market. This segment’s large market share is attributed to molecular test’s ability to identify and finely characterize the genetic basis of inherited diseases and diagnosis of hereditary cancer syndromes through mutation analysis. Molecular tests vary in scope and include targeted single variant, single gene, gene panel, and whole exome sequencing/whole genome sequencing.

Based on end user, in 2022, the hospitals & clinics segment is estimated to account for the largest share of the genetic testing market. The large share of this segment is attributed to the growing demand for advanced technology in the genetic screening of hereditary cancers, better infrastructure and utilization of advanced techniques in hospitals, and high rates of hospitalizations due to the rising prevalence of chronic diseases.

Based on geography, in 2022, North America is estimated to account for the largest share of the genetic testing market, followed by Europe and Asia-Pacific. North America’s major market share is attributed to the high adoption of NGS-based diagnostic testing, the high investments in R&D, and government support and investments to enhance the genome sequencing infrastructure in the region. However, Asia-Pacific is slated to register the highest growth rate in the genetic testing market during the forecast period. The high market growth in Asia-Pacific is attributed to the advancing healthcare infrastructure in the region, a large patient pool coupled with the growing adoption of advanced genomics technologies, the growing prevalence of various chronic diseases, and the increasing affordability of genomic testing.

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The report also includes an extensive assessment of the product & service, test type, method, end user, and geography, and key strategic developments adopted by leading market participants in the industry over the past years (2019–2022). In recent years, the genetic testing market has witnessed numerous product launches & approvals, agreements, collaborations, partnerships, and acquisitions & mergers.

Some of the key players operating in this market areIllumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Quest Diagnostics Incorporated (U.S.), Eurofins Scientific SE (Luxembourg), 23andMe, Inc. (U.S.), Foundation Medicine, Inc. (U.S.) (Subsidiary of Roche Holding AG), Rosetta Genomics Ltd. (U.S.), OPKO Health Inc. (U.S.), Natera, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Myriad Genetics, Inc. (U.S.), Laboratory Corporation of America Holdings (U.S.) and Invitae Corporation (U.S.).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/genetic-testing-market-5370

Scope of the Report:

Genetic Testing Market, by Product & Service

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  • Consumables & Reagents
  • Instruments
  • Services

Genetic Testing Market, by Test Type

  • Diagnostic Testing
  • Prenatal Testing
  • Carrier Testing
  • Newborn Screening
  • Preimplantation Testing
  • Other Test Types

(Other test types include forensic testing, microorganism genomics, and posthumous (testing of post-mortem tissues)).
Genetic Testing Market, by Method

  • Molecular Tests
  • Chromosomal Tests
  • Biochemical Tests

Genetic Testing Market, by End User

  • Hospitals & Clinics
  • Diagnostic Laboratories
  • Academic & Research Institutes
  • Others End Users

(Other end users include contract research organizations, forensic laboratories, pharma & biotech companies, and government laboratories, among others)
Genetic Testing Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe (RoE)
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC (RoAPAC)
  • Latin America
  • Middle East & Africa

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Non-Invasive Prenatal Testing (NIPT) Market by Product and Solution (Consumables, Systems, Software), Method (Ultrasound Screening, Cell-Free DNA Test), Application (Trisomy, Microdeletions, Monosomy), and End-user (Diagnostic Labs) – Global Forecast to 2027

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About Meticulous Research®

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding, 
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- [email protected] 
Visit Our Website: https://www.meticulousresearch.com/
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Content Source: https://www.meticulousresearch.com/pressrelease/597/genetic-testing-market-2029


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Metz, in Partnership with AI TECH, Introduces Advanced Interactive Flat Panel to Middle East Market

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SHENZHEN, China, June 17, 2024 /PRNewswire/ — METZ Display, a sub-brand of SKYWORTH and a provider of innovative interactive displays for education and business. The announcement of Artificial Intelligence Technologies LLC Dubai as the authorized exclusive distributor for the UAE market as well as the Oman, Qatar, and Bahrain markets marks a significant expansion for METZ Display. By partnering with a trusted distributor like Artificial Intelligence Technologies, METZ is strategically positioning itself to deliver its full range of smart education and smart conference room applications across these regions. This move not only strengthens METZ’s presence in the Middle East but also underscores its commitment to providing innovative interactive displays tailored for both educational and business environments.

Based on the 16 years of R&D and business experience in the IFPD market from SKYWORTH, METZ Display fully inherited its technology and has introduced several interactive displays in the education and business sectors that provide a highly immersive environment and user-friendly experience since 2022, such as the all-in-one LCD.
Mr. Summer Deng METZ  Sales & Marketing Head of MEA, said: ” The IFPD market in MEA is expected to see rapid growth over the next couple of years. The partnership with Artificial Intelligence Technologies LLC, a business entity to promote AI & AV Products, Tools, and services in the United Arab Emirates & Middle East Region will take METZ Display to another new level. We are confident to further develop our quality products and service!”
METZ Display is expanding its reach into the UAE market through Artificial Intelligence Technologies LLC Dubai as its authorized distributor.
The introduction of the METZ K Pro Series, particularly the EDLA Certified collaborative display, in the MEA Region highlights their commitment to providing innovative interactive display solutions for both education and business sectors. This move could potentially enhance learning and collaboration experiences in the region.
Mr. Harold Fernandes, the Managing Director of Artificial Intelligence Technologies, seems quite enthusiastic about the partnership with METZ Display. His emphasis on the versatility of METZ’s portfolio, applicable across various sectors such as education and business, reflects a keen understanding of the market’s needs. By highlighting the engaging experiences offered by METZ Display products, he’s underlining the potential benefits for resellers and end-users alike. This partnership seems poised to bring innovative solutions to the UAE market.
About METZ Display
With Skyworth, one of the world’s largest TV companies, and Metz, one of the oldest German manufacturers, METZ Display creates high-quality educational and business applications that make state-of-the-art screen technology available to everyone by combining their strengths and 80 years of experience.
About Artificial Intelligence Technologies LLC
Artificial Intelligence Technologies LLC, Is established as a business entity to promote AI & AV Products, and complete AV Solution, Tools & Services in the United Arab Emirates & Middle East Region. Visit the website at https://ai-tech.ai/ 
Phone: +971 4299 0544Email: [email protected]: www.ai-tech.ai
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Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services

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LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation. 

Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
Name: Luis ParraTitle: Managing DirectorCompany: Vica.ChatTelephone: +44 20 7399 4980 Email: [email protected]
About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
Visit ViCA.Chat to learn more.
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LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™

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CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany),  Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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About MarketsandMarkets™
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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
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Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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