Australia Rare Disease Genetic Testing Market Size & Outlook
Australia rare disease genetic testing market, 2016-2028 (US$M)
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Australia rare disease genetic testing market highlights
- The Australia rare disease genetic testing market generated a revenue of USD 13.6 million in 2020 and is expected to reach USD 32.1 million by 2028.
- The Australia market is expected to grow at a CAGR of 11.4% from 2021 to 2028.
- In terms of segment, neurological disorders was the largest revenue generating disease type in 2020.
- Cancer is the most lucrative disease type segment registering the fastest growth during the forecast period.
Rare disease genetic testing market data book summary
| Market revenue in 2020 | USD 13.6 million |
| Market revenue in 2028 | USD 32.1 million |
| Growth rate | 11.4% (CAGR from 2020 to 2028) |
| Largest segment | Neurological disorders |
| Fastest growing segment | Cancer |
| Historical data | 2016 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Neurological Disorders, Immunological Disorders, Hematology Diseases, Endocrine & Metabolism Diseases, Cancer, Musculoskeletal Disorders, Cardiovascular Disorders, Dermatology Disease |
| Key market players worldwide | Quest Diagnostics Inc, Centogene NV Ordinary Shares, Invitae Corp, Eurofins Scientific SE, PerkinElmer, Macrogenics Inc, Fulgent Genetics Inc, Myriad Genetics Inc, Labcorp Holdings Inc, OPKO Health Inc, 3billion, ARUP Laboratories, Strand Life Sciences, Ambry Genetics, REALM IDx, Inc., Baylor Genetics, Health Network Laboratories, PreventionGenetics, Biora Therapeutics, CooperSurgical, Artemis DNA |
Other key industry trends
- In terms of revenue, Australia accounted for 1.7% of the global rare disease genetic testing market in 2020.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In Asia Pacific, China rare disease genetic testing market is projected to lead the regional market in terms of revenue in 2028.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 43.0 million by 2028.
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Rare Disease Genetic Testing Market Scope
Rare Disease Genetic Testing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia rare disease genetic testing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to rare disease genetic testing market will help companies and investors design strategic landscapes.
Neurological disorders was the largest segment with a revenue share of 16.18% in 2020. Horizon Databook has segmented the Australia rare disease genetic testing market based on neurological disorders, immunological disorders, hematology diseases, endocrine & metabolism diseases, cancer, musculoskeletal disorders, cardiovascular disorders, dermatology disease covering the revenue growth of each sub-segment from 2016 to 2028.
According to Department of Health, Government of Western Australia, nearly 1.2 million people in Australia are living with a rare disease, out of which 400,000 with a rare disease are children. A research study conducted by the Australian Paediatric Surveillance Unit demonstrated that individual living with rare diseases face significant challenges such as delay in diagnosis.
Lack of treatment and issues in finding the effective health service. This has pronounced the need of a coordinated national approach against rare diseases in the country. Furthermore, the Genetic and Rare Disease Network (GaRDN) provides relevant insights pertaining to rare disease to individuals with rare conditions. This is anticipated to boost the adoption of rare disease diagnostic service in Australia.
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Our clientele includes a mix of rare disease genetic testing market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Australia rare disease genetic testing market , including forecasts for subscribers. This country databook contains high-level insights into Australia rare disease genetic testing market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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Australia Rare Disease Genetic Testing Market Outlook Share, 2020 & 2028 (US$M)
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