What Has Been the Growth Trajectory of the Genetic Testing Market?
The genetic testing market has seen considerable growth due to a variety of factors.
• The field of genetic testing has seen noteworthy expansion in recent years. It's projected to escalate from a market size of $19.1 billion in 2024 to $20.92 billion in 2025, showcasing a compound annual growth rate (CAGR) of 9.5%.
This substantial growth in the past can be linked to factors such as the surge in healthcare spending, increased incidences of cancer, a growing demand for tailor-made medicine, and the appearance of new, infectious diseases.
What Does the Future Hold for the Genetic Testing Market?
The genetic testing market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the genetic testing market is forecasted to experience robust growth. The market is predicted to escalate to a value of $30.45 billion in 2029, with a compound annual growth rate of 9.8%.
This growth in the projection period can be ascribed to factors such as heightened government backing, an increasing frequency of genetic disorders, a growing aging population, and a surge in chronic disease prevalence. The forecast period will be marked by significant trends including the implementation of new initiatives like genetic counseling and informatics programs which will aid in the creation of the next wave of genetic testing. Also, technological advancements, as well as the introduction of direct-to-consumer genetic tests, will be key features of this period.
What Are The Key Drivers Fueling Growth In The Genetic Testing Market?
The increasing occurrence of genetic conditions is predicted to boost the growth of the market for genetic testing. Genetic diseases encompass those that present symptoms at birth as well as those that materialize over time. Genetic testing is a valuable tool in providing a diagnosis for genetic problems, as well as advising on the likelihood of developing forms of cancer. For instance, a 2024 report from the World Health Organization, an Intergovernmental collaboration based in Switzerland, indicated that genetic defects and congenital anomalies impact between 2%-5% of all live births. They are also responsible for 30% of child hospital admissions, culminating in roughly 50% of childhood fatalities in developed nations. Subsequently, the mounting occurrence of genetic issues is spurring on the market for genetic testing.
What Are The Primary Segments In The Global Genetic Testing Market?
The genetic testing market covered in this report is segmented –
1) By Type: Predictive Testing, Carrier Testing, Prenatal And Newborn Testing, Diagnostic Testing, Pharmacogenomics Testing, Nutrigenomic Testing, Other Types
2) By Technology: Cytogenetic Testing, Biochemical Testing, Molecular Testing
3) By Application: Cancer Diagnosis, Genetic Disease Diagnosis, Cardiovascular Disease Diagnosis, Other Applications
4) By End User: Hospitals And Clinics, Diagnostic Laboratories And Centres, Other End Users
Subsegments:
1) By Predictive Testing: Genetic Risk Assessment, Family History-Based Testing
2) By Carrier Testing: Single Gene Carrier Testing, Expanded Carrier Screening
3) By Prenatal And Newborn Testing: Non-Invasive Prenatal Testing (NIPT), Newborn Screening Tests
4) By Diagnostic Testing: Confirmatory Genetic Testing, Clinical Diagnostic Testing
5) By Pharmacogenomics Testing: Drug Response Testing, Adverse Drug Reaction Testing
6) By Nutrigenomic Testing: Dietary Response Testing, Metabolism Testing
7) By Other Types: Ancestry Testing, Whole Genome Sequencing
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Which Key Trends Are Driving Changes In The Genetic Testing Market?
The surge in popularity of direct-to-consumer genetic tests is a significant trend in the genetic testing market. Also referred to as at-home DNA tests, these products enable consumers to perform their own DNA samples in the privacy of their home and mail them in to determine their genetic risk for certain health conditions. These home-based genetic tests examine the user's DNA and can identify gene variations that elevate the risk of distinct medical conditions. For example, in 2022, DNALabs, an India-centered company providing genetic testing services with an aim to revolutionize personalized medicine, unveiled its At-Home Genetic Testing Solutions. With a simple at-home DNA swab kit from DNALabs, both individual consumers seeking to better manage their health and healthcare professionals desiring to tailor the most effective treatments for their patients are empowered to make informed decisions.
Who Are the Key Players in the Genetic Testing Market?
Major companies operating in the genetic testing market include:
• Myriad Genetics Inc
• Illumina Inc
• Abbott Laboratories
• Eurofins Scientific
• Danaher Corporation
• F. Hoffmann-La Roche Ltd
• Quest Diagnostics Incorporated
• Qiagen NV
• Thermo Fisher Scientific Inc.
• BioRad Laboratories Inc.
• BGI
• Berry Genomics Co. ltd
• Daan Gene Co. Ltd
• Annoroad Gene Technology Co. Ltd
• WuXi PharmaTech
• Igenomix
• Circle DNA
• Centogene
• Curetis
• Cytena
• Probably Genetic
• Genome Biologics
• WuXi NextCODE
• Genomtec
• Testgene
• Evogen Lab
• Phosphorus
• Helix
• Sequencing
• 10x Genomics
• Quantgene
• Virica Biotech
• DNALabs
• Deep Genomics
• SGS Mexico
• Hologic Inc
• 23andMe Inc
• Middle East Testing Services L.L.C
• Molecular Biology & Genetics Laboratory
• Freiburg Medical Laboratory Middle East
• IVI MIDDLE EAST FERTILITY CLINIC
• Bio Certica
What Is The Most Dominant Region In The Genetic Testing Market?
North America was the largest region in the genetic testing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genetic testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
