According to the research report titled ‘Europe Genetic Testing Market Size By Application, Test Type, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, Europe genetic testing market is expected to surpass the valuation of USD 5.5 billion by the year 2026.
 

Technological advancements in genetic testing have allowed for availability of highly sensitive and efficient DNA sequencing methods, which in turn is a prime factor driving the growth of Europe genetic testing market. Mounting adoption of advanced genetic tests by physicians in clinical care applications coupled with rising demand for direct-to-consumer testing methods is facilitating the market expansion in Europe.
 

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The enhanced adoption of personalized medicines has helped people to avoid risks of acquiring genetically or rare inherited diseases, thereby augmenting Europe genetic testing industry remuneration. However, strict regulatory scenario pertaining to the use of genetic testing, high costs, and lack of skilled professionals may act as a restraining factor to the market growth.
 

As per test type, diagnostic testing segment accounted for a significant market share in the past few years and is expected to register 12% CAGR through 2026. Growing demand for technologically advanced genetic testing kits and favorable initiatives implemented by public and private entities which promote diagnosis of genetic diseases are fueling the segmental share.
 

Based on application spectrum, Europe genetic testing market from cancer segment accounted for 1,200 million in the year 2019 and is predicted to expand consistently during the analysis timeframe. Increased pervasiveness of genetic disorders in newborn infants has impelled the demand for genetic testing methods across Europe.
 

Considering the geographical landscape, Germany genetic testing market is anticipated to showcase a y-o-y growth rate of 11% between 2020 and 2026. Availability of advanced and precise medical diagnosis of inherited diseases is facilitating the business scenario in Germany. However, strict regulations which prevent the use of genetic tests on humans may inhibit the expansion of genetic testing market in Germany.
 

Zimmer Biomet, Wright Medical Group N.V, Stryker Corporation, Smith & Nephew plc, Integra LifeSciences Holdings Corp., DePuy Synthes, CONMED Corporation, Bioretec Ltd., B. Braun Melsungen AG, and Acumed LLC are the key participants in Europe genetic testing market.