Global Rare Disease Testing Market to Grow at a CAGR of around 9.29% Through 2026

The Report Analysis highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their their recent developments.
COLUMBUS, N.M. - Oct. 11, 2021 - PRLog -- The Global Rare Disease Testing Market is expected to witness around 9.29% CAGR during 2021-26, says MarkNtel Advisors in their research report. The market growth primarily attributes to the rising patient pool for rare diseases and the surge in big pharmaceutical companies to manufacture rare disease drugs & diagnostic devices. Further, mounting awareness levels among people about rare diseases is also anticipated to boost the market.

Further, the evolution of direct-to-home genomic services and the introduction of big data in diagnosing rare diseases has enabled researchers to gain interest in rare disease diagnosis. The advanced methods are simple, super-efficient, cost-effective, provide multiplexing, and have high throughput capabilities, further states the research report, "Global Rare Disease Testing Market Analysis, 2021."

An Outlook on Genetically & Externally Acquired Rare Diseases

A rare disease is a disease caused in whole or in part by a change in the DNA sequence. The genetic mutation may be a monogenic or a multifactorial inheritance disorder. It might also be due to a combination of the gene or any environmental factor. Moreover, rare diseases can be both genetically & externally acquired.

Genetic rare diseases are caused mainly due to gene mutation, wherein the mutated gene is transferred from parent to child during birth. Some of those diseases include sickle cell disease, cystic fibrosis, and Tay-Sachs disease.

On the other front, an externally acquired gene defect is due to a mutation in the gene that occurs during a person's life. These mutations can be due to environmental exposure (cigarette smoke, among others), such as a few rare cancers and neurofibromatosis. The predisposition of a faulty gene can run in the family and increase the risk of developing the disease. For instance, BRCA1 or BRCA2 genes, in which some mutations increase the risk of Breast Cancer.

Hospitals to Capture the Substantial Share of the Global Rare Disease Testing Market
The Global Rare Disease Testing Market, based on End-User, bifurcates into:
  • Hospitals
  • Diagnostics Laboratories
  • Clinical Laboratories
  • Contract Research Organizations

The diagnosis of rare diseases starts primarily in Hospitals. The key objective of hospitals is to improve the diagnosis of rare & multiform diseases by promoting the introduction of Next-Generation Sequencing (NSG) technologies. Additionally, the rising patient footfall in hospitals owing to the better management facility and abundant availability of specialists is another crucial aspect that boosts the market growth around Hospitals.

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MarkNtel Advisors
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