USD 6082.85 million
Global Genetic Testing Market Size, Share, Growth Analysis, By Type(Predictive & presymptomatic testing, carrier testing), By Technology(Cytogenetic testing, molecular testing), By Application(Cancer diagnosis, genetic disease diagnosis) - Industry Forecast 2024-2031
Report ID:
SQMIG35H2074 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
94 |
Figures:
76
Global Genetic Testing Market Insights
Genetic Testing Market size was valued at USD 6082.85 million in 2019 and is poised to grow from USD 7421.08 million in 2023 to USD 35.34 million by 2031, growing at a CAGR of 22% in the forecast period (2024-2031).
Genetic testing is a type of medical examination that examines a person's DNA to detect genetic variations in certain disorders. A suspected genetic disease can be confirmed by its findings. It helps determine a person's having or developing a genetic condition. It involves monitoring proteins, chromosomes, and genes for changes. Genetic variations (mutations) that increase the risk of a genetic disorder can be detected by gene testing. It is voluntary and offers benefits, as well as restrictions and risks. It involves dissecting tissue or cells to look for changes in genes, chromosomes, or proteins. In addition, tumor tissue can be used to diagnose cancer.
The development of new test kits as a result of technological advancements and the increased prevalence of genetic and chronic diseases are the two main factors driving the global market. Increasing public awareness about the availability of advanced diagnostic procedures has increased the need for genetic testing. Additionally, the growing geriatric population is expected to fuel market growth in the near future. The United Nations estimates that in 2019 there were 382 million individuals worldwide who were 60 years of age or older, and this figure is expected to increase to 2.1 billion by 2031. Because of the increased risk of chronic diseases in older individuals, genetic testing may be more important. Rising consumer healthcare expenditure, increasing disposable income, technological development, and availability of these services are the major factors driving the growth of the global genetic testing market.
The adoption of genetic testing among populations around the world is being fueled by increasing government efforts to increase knowledge about it. In addition, the presence of several key market players and their significant investment in R&D activities has led to product design innovation, improved delivery, and increased product quality. Owing to their low cost, direct-to-consumer genetic testing kits are increasingly being used by the general public, which is expected to accelerate the growth of the global market. In addition, people can purchase DNA test kits from major Internet retailers such as Ancestry.com and 23andMe to have them delivered to their homes. People are increasingly using self-testing websites due to the ease and convenience of self-testing kits. Additionally, increasing marketing strategies used by online businesses have contributed greatly to increasing knowledge about genetic testing. For example, in 2019, Ancestry.com spent US$109.0 million on TV advertising in the US. these ads had a huge impact on the global market.
However, it can be expensive and may not be covered by some health insurance plans. Stringent regulation policies related to the testing are the factors that may hamper the market growth.
US Genetic Testing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Molecular testing
Fastest Growth
Molecular testing
Growth Rate
22% CAGR
Global Genetic Testing Market ($ Mn)
Country Share for North America Region (%)
Global Genetic Testing Market By Type ($ Mn)
Global Genetic Testing Market By Type (%)
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Global Genetic Testing Market Segmental Analysis
Global genetic testing market is segmented on the basis of type, technology, application, and region. By type, the market is segmented into predictive & presymptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. By technology, market is segmented into cytogenetic testing, molecular testing, and biochemical testing. By application, market is segmented into cancer diagnosis, genetic disease diagnosis, cardiovascular disease diagnosis, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Genetic Testing Market Analysis by Technology
Molecular testing dominates the global genetic testing market. A common molecular testing method called PCR (Polymerase Chain Reaction) is used to amplify specific DNA segments through repeated cycles of denaturation, annealing, and amplification. Similarly, there are many sophisticated options for molecular testing. The market is also being driven by key factors such as growth in infectious diseases and various types of cancer, acceptance, and awareness of customized therapies, and expansion of biomarker identification.
Cytogenetic testing is the fastest-growing segment. Personalized medicine, targeted cancer treatment, and other advances have been made possible by cytogenetic. Currently, various methods are used to detect genetic abnormalities and malignancies, including karyotyping, fluorescence in situ hybridization, and comparative genomic hybridization. These procedures use cytogenetic supplies such as kits, media, and reagents. The market for cytogenetic testing is expanding due to the growth in genetic disorders and the development of cancer-related cytogenetic.
Biochemical testing is expected to grow at a significant CAGR during the forecast period. Tissue samples containing protein can be used for biochemical testing, including blood, urine, amniotic fluid, and cerebrospinal fluid. Additionally, in September 2019, clinical genetics company Blueprint Genetics and medical laboratory ArchimedLife established a collaboration to provide biochemical testing for rare disorders in North America.
Genetic Testing Market Analysis by Application
Diagnostics of genetic diseases is the most important segment of the market. It is expected to grow at the highest CAGR during the forecast period. Advances in our understanding of the underlying mechanisms of genetic disease have made possible early diagnostic procedures, new therapies, or the ability to devise interventions to delay the onset of disease or reduce its severity. Additionally, newborn screening uses the most common genetic test. In the United States, almost every infant is screened for many genetic diseases. Early diagnosis of these diseases can delay the onset of symptoms or intervene to reduce the severity of the disease.
A cancer diagnosis is the fastest-growing segment. Genetic testing helps determine a person's lifetime risk of developing cancer. It achieves this by scanning a person's genes, chromosomes, or proteins for specific alterations. Researchers refer to these changes as mutations. Genetic tests are used in targeted cancer therapy to detect DNA changes in cancer cells. The treatment a person receives can be affected by learning whether their cancer has a particular mutation.
Global Genetic Testing Market By Type, 2023 (%)
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Global Genetic Testing Market Regional Insights
North America dominated the global genetic testing market in terms of revenue in 2020 and is expected to maintain its dominance during the forecast period. This is due to the increasing awareness of the population about the benefits of the testing among consumers. In addition, the widespread adoption of genetic testing kits among the population has been aided by easy access to self-testing kits through online websites in countries such as the US. Additionally, the market has grown tremendously due to the increasing prevalence of numerous chronic diseases among the majority of the population and rising consumer spending on healthcare. In the coming years, the market is predicted to be driven by the growing aging population in the US. Additionally, increasing acceptance and usage of formulated drugs among the population is expected to drive market growth.
The most opportunistic market is expected to be in Asia Pacific over the forecast period. Asia Pacific is characterized by a sizable population, an increase in the prevalence of chronic diseases, and expanding public awareness of genetic testing. Rising disposable income and rising healthcare expenditure are also predicted to fuel market growth.
Global Genetic Testing Market By Region, 2024-2031
- Largest
- Fastest
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Global Genetic Testing Market Dynamics
Genetic Testing Market Drivers
Increasing numbers of genetic disorders
- Genetic diseases can cause very serious health problems that are life-threatening. In extreme cases, these disorders can cause a miscarriage of the affected fetus or baby. Demand for genetic testing is increasing as genetic diseases and birth defects become more common. According to the World Health Organization publication, Genetic Disorders and Congenital Malformations: Strategies to Reduce the Burden in the Region, 2022, genetic and congenital disorders are the primary causes of pregnancy and neonatal death in many countries in the region. Birth defects are currently the leading cause of infant mortality in the United Arab Emirates, with Bahrain being in second place behind Kuwait, Oman, and Qatar. Hence, this is driving the demand for the genetic testing market.
Adoption of next-generation sequencing is increasing
- Next-generation sequencing (NGS) is evolving as a powerful tool to provide deeper and more accurate insights into the molecular basis of individual tumors and specific receptors as genomics-centric pharmacology play a major role in the treatment of various chronic diseases, particularly cancer. NGS has the potential to greatly impact the field of oncology because it is more accurate, sensitive, and faster than previous methods. The need for multiple tests to detect causative mutations is eliminated because NGS can assess multiple genes in a single assay. Consequently, this is expected to increase the demand for genetic testing.
Increasing disposable income
- A wide range of economic and social factors, including the financing and organizational structure of the health system, influence the amount of money a nation spends on health care and its rate of growth over time. For example, there is a significant relationship between a country's level of gross income and the amount of money its citizens spend on health care.
Genetic Testing Market Restraints
Expensive genetic testing
- Some health insurance policies may not cover the cost of expensive genetic testing. The expenses of the various genetic testing vary depending on the ailment for which they are tested. As a result, the high cost of this testing may limit the market growth.
A strict regulatory policy
- Due to the focus on the life cycle of healthcare products, a regulatory affair (RA) is critical to the medical device business. It helps work within regulations, provides strategic, strategic, and operational direction, and accelerates the development of safe and reliable cancer sputum testing products and devices for use by people around the world. Regulatory Affairs is responsible for establishing and carrying out the regulatory scheme. Numerous healthcare organizations and government agencies are providing regulatory policies for the introduction and approval of cancer sputum testing devices and products. Drug development teams depend heavily on drug approvals from regional regulators. Accreditation validates a business's drug development efforts and differentiates it from competitors.
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Global Genetic Testing Market Competitive Landscape
The genetic testing market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share.
For example, in April 2021, Invitae Corporation announced that it will join the eMERGE network, a national endeavor led and sponsored by the National Genome Research Institute. As part of this collaboration, Invitae will offer genetic testing to all 25,000 patients.
In March 2021, GI OnDemand announced collaboration with Ambry Genetics to include online genetic counseling and testing services into their countrywide gastroenterology offices. The collaboration was formed in order to uncover hereditary Gl cancer syndromes in order to advise patients through potentially life-changing healthcare decisions.
In August 2020, Guardant Health acquired the approval from FDA for its Guardant 360 CDx for the identification of genetic changes in circulating cell-free DNA (cfDNA) from peripheral whole blood derived from patients who might benefit from one of the FDA-approved treatments for non-small cell lung cancer (NSCLC).
Genetic Testing Market Top Player’s Company Profiles
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Illumina, Inc.
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Qiagen N.V.
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Myriad Genetics, Inc.
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Invitae Corporation
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BGI Group
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F. Hoffmann-La Roche AG
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PerkinElmer, Inc.
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Becton, Dickinson and Company
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Agilent Technologies, Inc.
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Bio-Rad Laboratories, Inc.
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23andMe, Inc.
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Ancestry.com LLC
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GeneDx, Inc.
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Counsyl, Inc.
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Veracyte, Inc.
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Guardant Health, Inc.
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Caris Life Sciences.
Genetic Testing Market Recent Developments
- In June 2022, Prenetics Group Limited, a leader in genomic and diagnostic testing, announced ColoClear by Circle (ColoClear), a revolutionary, non-invasive at-home screening test for detecting early indicators of colorectal cancer.
- In March 2022, Illumina, a genome sequencing company, launched a cancer test in Europe that looks for a wide range of tumor genes in a single tissue sample, perhaps helping patients with rare disorders find treatment alternatives.
- In October 2021, Centogene N.V. collaborated with Twist Biosciences to develop advanced sequencing techniques for rare diseases. The outcomes are anticipated to improve access to genetic testing for diseases.
- In September 2021, MedGenome Labs launched its direct-to-consumer category, Genessense. In the future, e-commerce platforms and the Genessense website will both be able to accept online orders for its specialized, scientifically-supported genetic screening tests.
- In April 2021, Invitae Corporation announced that its sponsored genetic testing is now available for patients in the United States, Canada, Australia, and Brazil who are at risk of acquiring some prevalent adult neurodegenerative disorders. The free availability of this service will benefit at-risk persons with challenging-to-diagnose diseases.
Global Genetic Testing Key Market Trends
- The primary reason driving the growth of the global market is the rising prevalence of genetic and chronic illnesses worldwide. The execution of several positive initiatives by government agencies and non-governmental organizations (NGOs) aimed at raising public awareness of genetic testing further supports this. Accordingly, a further element promoting expansion is the widespread use of the testing in pharmacogenomics, or drug-gene testing, which examines how the body reacts to specific medications after they interact with hereditary genes. The rapid emergence of the coronavirus disease (COVID-19) pandemic has also prompted wider use of virtual testing and home testing kits for sample collection purposes, which is driving market expansion. The development of DTC-GT (Direct-to-Consumer Genetic Testing) kits and the enormous technological advances in genetic testing methods are further boosting the market's expansion. A favorable outlook for the market is being created by other factors including growing investments in research and development (R&D) activities in the medical sciences and strategic partnerships among leading manufacturers for the introduction of enhanced personalized genetic testing kits.
Global Genetic Testing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global genetic testing market analysis, by technology, cytogenetic testing is the fastest-growing segment. Cytogenetic has enabled personalized medicine, targeted cancer treatment, and other advances. The cytogenetic testing market is expanding due to the growth of genetic disorders and the development of cancer-related cytogenetic. By application, the diagnosis of genetic diseases is the largest segment of the market. A cancer diagnosis is the fastest-growing segment. Key industry players are focusing on product developments, new product launches, and geographic expansions to gain significant market share.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 6082.85 million |
| Market size value in 2031 | USD 35.34 million |
| Growth Rate | 22% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Genetic Testing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Genetic Testing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Genetic Testing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Genetic Testing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Genetic Testing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Genetic Testing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Genetic Testing Market Report Snapshots
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