Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Rare Disease Genetic Testing Market - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific rare disease genetic testing market was valued at $0.51 billion in 2022 and is expected to reach $2.40 billion by 2033, witnessing a CAGR of 15.25% during the forecast period 2023-2033. Advanced technologies like whole-genome sequencing (WGS) and whole-exome sequencing (WES) examine a person's entire genetic code (genome) or certain sections that code for proteins (exome), respectively. These techniques aid in locating genetic defects, mutations, or variants that cause uncommon diseases. 
Market Dynamics
- Market Drivers
- Rapid Technological Advancements in Rare Disease Diagnosis
- Rising Prevalence of Genetic Disorders and Congenital Disorders
- Growing Recognition and Emphasis on Early Detection and Prevention of Rare Diseases in Pediatric Populations
- Market Challenges
- Lack of Consolidation of Information Leading to Difficulty in Diagnosis
- Significant Capital Requirement for Research and Development Hindering Global Expansion Efforts
- Market Opportunities
- Whole Genome Sequencing Putting an End to the Rare Disease Genetic Testing Odysseys
- AI-based Diagnostic Tools Diagnosing Rare Diseases by Identifying Potential Diagnoses
- Transitioning toward Increased Genetics Coverage in Reimbursement Policies
Market Introduction
The growing need for early rare illness detection has led to a notable surge in the Asia-Pacific market for rare disease genetic testing. One of the main factors driving market expansion has been the rising incidence of uncommon diseases. Additionally, it is anticipated that the increasing awareness and focus on the early identification and prevention of rare diseases in pediatric populations globally would have an impact on market expansion.
Genetic testing for rare diseases offers enormous promise to provide cutting-edge medical treatments. For example, in January 2023, BGI Genomics created the "CardioGen automated interpretation system", which functions as the genotype and phenotype database of monogenic cardiovascular disease. This system was developed in collaboration with the National Centre for Cardiovascular Diseases, Fuwai Hospital, and the State Key Laboratory of Cardiovascular Diseases. The market growth is also influenced by other variables, like increased patient demand and low turnaround time of these tests.
Market Segmentation
Segmentation 1: by Disease Type
- Gastroenterology Disease
- Endocrine and Metabolism Disease
- Cardiovascular Disease
- Neurology Disease
- Hematology and Oncology Disease
- Dermatology Disease
- Other Diseases
Segmentation 2: by Technology
- Sanger Sequencing
- PCR
- NGS
- Microarrays
- Others (Targeted Cytogenetics, Karyotyping, and FISH)
Segmentation 3: by Country
- Japan
- India
- China
- South Korea
- Australia
- Singapore
- Rest-of-Asia-Pacific
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and regional presence. Some of the prominent names in this market are:
- 3billion, Inc.
- Konica Minolta (Ambry Genetics, Inc.)
- BGI Group
- Strand Life Science Pvt. Ltd.
Key Questions Answered in the Report
- What are the major market drivers, challenges, and opportunities in the Asia-Pacific rare disease genetic testing market?
- What are the key development strategies implemented by the key players to stand out in the Asia-Pacific rare disease genetic testing market?
- How is each segment of the rare disease genetic testing market expected to grow during the forecast period, and what revenue is expected to be generated by each of these segments by the end of 2033?
- What is the market segmentation by technology? How are the technology types ranked in the rare disease genetic testing market?
Key Attributes
| Report Attribute | Details |
| No. of Pages | 110 |
| Forecast Period | 2023-2033 |
| Estimated Market Value (USD) in 2023 | $0.58 Billion |
| Forecasted Market Value (USD) by 2033 | $2.4 Billion |
| Compound Annual Growth Rate | 15.2% |
| Regions Covered | Asia Pacific |
For more information about this report visit https://www.researchandmarkets.com/r/eo4d5v
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