What Is The Current and Historic Market Size Analysis Of The Genetic Testing Services Market?
The genetic testing services market has seen considerable growth due to a variety of factors.
• The genetic testing services market has grown rapidly in recent years. It will rise from $19.19 billion in 2024 to $21.42 billion in 2025, at a compound annual growth rate (CAGR) of 11.6%.
The growth is attributed to the rising demand for personalized and precision medicine, the growing prevalence of genetic disorders, the high demand for prenatal testing, an increasing population, and greater awareness and education.
What are the Market Size and Expected Growth Rates for the Genetic Testing Services Market?
The genetic testing services market is expected to maintain its strong growth trajectory in upcoming years.
• The genetic testing services market is expected to grow rapidly, reaching $32.77 billion by 2029, with a compound annual growth rate (CAGR) of 11.2%.
The market's growth can be attributed to the increasing demand for non-invasive prenatal testing (NIPT), the rise of pharmacogenomics, a greater emphasis on preventive healthcare, more direct-to-consumer (DTC) testing, and a focus on rare diseases and personalized therapies. Key trends include the use of artificial intelligence (AI) and machine learning, advancements in testing kits and online platforms, next-generation sequencing, microarray analysis, polymerase chain reaction (PCR), and improvements in healthcare infrastructure.
Which Key Drivers Are Propelling The Genetic Testing Services Market's Growth?
The genetic testing services market is expected to grow due to the increasing prevalence of genetic disorders. These conditions, which stem from DNA abnormalities, lead to various physical and developmental issues. Factors such as heightened awareness, better diagnostic methods, expanded genetic screening, and the rise in consanguineous marriages contribute to this increase. Genetic testing aids in diagnosis, prognosis, and treatment, enabling personalized care and family planning. For example, the World Health Organization (WHO) reported that congenital diseases caused around 240,000 infant deaths globally each year. Additionally, the CDC states that about 6,000 babies are born with Down syndrome annually in the U.S., which is about 1 in 700 babies. Thus, the growing incidence of genetic disorders is driving the market for genetic testing services.
What Are The Key Segments Within The Global Genetic Testing Services Market?
The genetic testing services market covered in this report is segmented –
1) By Type: Predictive Testing, Carrier Testing, Prenatal Testing, Newborn Screening, Other Types
2) By Disease: Cancer Disease, Metabolic Disease, Cardiovascular Disease, Other Diseases
3) By End User: Diagnostic Laboratories, Hospitals And Clinics, Academic Institutes And Research Centers, Other End Users
Subsegments:
1) By Predictive Testing: Cancer Predisposition Testing, Heart Disease Risk Testing, Neurological Disorder Risk Testing, Other Predictive Tests
2) By Carrier Testing: Carrier Screening For Single-Gene Disorders, Carrier Screening For Multifactorial Conditions, Carrier Screening For Inherited Genetic Conditions, Other Carrier Tests
3) By Prenatal Testing: Non-Invasive Prenatal Testing (NIPT), Amniocentesis, Chorionic Villus Sampling (CVS), Ultrasound-Combined Genetic Testing, Other Prenatal Tests
4) By Newborn Screening: Metabolic Disorder Screening, Genetic Disorder Screening, Hearing Loss Screening, Endocrine Disorder Screening, Other Newborn Screening Tests
5) By Other Types: Pharmacogenetic Testing, Forensic Genetic Testing, Ancestry And Genetic Genealogy Testing, Paternity Testing, Other Specialized Genetic Tests
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What New Trends Are Influencing The Genetic Testing Services Market?
Key players in the genetic testing services market are concentrating their efforts on the development of sophisticated technological solutions like cancer screening tests. These developments aim to increase precision, broaden testing possibilities, and enhance patient outcomes overall. Cancer screening tests are routine tests performed on asymptomatic individuals to identify potential cancer markers at an early stage. The goal of these tests is to diagnose cancer or precancerous conditions before symptoms appear, thereby making the treatment more effective. To illustrate, Prenetics Group Limited, a diagnostic and genetic testing company based in Hong Kong, introduced ColoClear in June 2022. ColoClear is a non-invasive stool DNA test that provides an extremely sensitive screening approach for detecting early indicators of colorectal cancer. This avant-garde test merges advanced stool DNA technology with a fecal immunochemical test (FIT), establishing a handy and effective alternative to colonoscopy procedures. Clinical studies have demonstrated ColoClear's ability to detect colorectal cancer with a sensitivity of 96% and advanced adenoma with a detection rate of 64%.
Who Are the Key Players In The Genetic Testing Services Market?
Major companies operating in the genetic testing services market are:
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Danaher Corporation
• Laboratory Corporation of America Holdings (LabCorp)
• Quest Diagnostics Incorporated
• Eurofins Scientific SE
• SGS SA
• Agilent Technologies
• Hologic Inc.
• Illumina Inc.
• PerkinElmer Inc.
• bioMérieux SA
• Bio-Rad Laboratories Inc.
• QIAGEN N.V.
• Natera Inc.
• Myriad Genetics Inc.
• BGI Genomics Co. Ltd.
• Invitae Corporation
• NeoGenomics Laboratories Inc.
• 23andMe Holding Co
• Berry Genomics Co. Ltd.
• Pacific Biosciences of California Inc.
• Ambry Genetics Corporation
• Biocartis SA
• CENTOGENE N.V.
• Blueprint Genetics Oy
• Igenomix
• Veritas Genetics
What Are The Regional Insights Into The Genetic Testing Services Market?
North America was the largest region in the genetic testing services market in 2023. The regions covered in the genetic testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
