Id: CBI_ 1490 | Pages: 321 | Format : PDF | Published : | Author : Amit Sati
Genetic Testing Market size is estimated to reach over USD 61.02 Billion by 2031 from a value of USD 21.45 Billion in 2023 and is projected to grow by USD 21.57 Billion in 2024, growing at a CAGR of 14.0% from 2024 to 2031.
Genetic testing is a medical method through which an individual's DNA is identified via genetic variations. The variations can indicate a predisposition to health conditions, inherited diseases and traits, etc. Typically, an individual's genes taken from the blood sample, tissue sample, or saliva are tested for mutations, abnormalities, changes, etc. This form of testing identifies or rules out specific genetic conditions in chromosomes or proteins based on symptoms. This process ensures the identification of gene mutations that could be passed down to future generations. They also can ascertain the probability of developing genetic disorders prior to the appearance of any symptoms. These tests are often accurate and can help tailor treatments based on personal genetic profiles, increasing effectiveness and lowering side effects. The end-users of this method are the healthcare sector, forensics, pharmaceutical and agriculture industry, and consumer genetics study.
As genetic diseases such as diabetes, neurodegenerative diseases, cardiovascular conditions, cancer, etc. rise, the need for early detection and curated medicines also rises. Genetic testing allows for the determination of genetic mutation or predisposition which could help in targeted prevention and lifestyle changes. There is also a growth of awareness about the genetic links to chronic diseases such as Huntington's disease or cystic fibrosis. The popularity of direct-to-consumer (DTC) tests for health-related insights is driving the genetic testing market growth as consumers show interest in learning about their ancestral roots. This results in a better assessment of diseases and the risks they pose.
Thus, this testing is becoming more accessible through technological advancements, such as next-generation sequencing (NGS).
Personalized medicines aim to curate healthcare based on an individual's lifestyle, environment, and most importantly, genetic makeup. This approach to modern healthcare seeks genetic testing to optimize patient treatment charts, specifically for high-risk diseases such as cancer, heart ailments, etc. Through these tests, pharmacogenomics understands the reaction of individual patients to particular drugs. This allows for more efficient clinical trials and drug development. Personalizing medicine can also help in proactive and preventive DTC genetic tests, allowing individuals to be more vigilant about healthcare and prevent further deterioration of critical conditions.
Therefore, the genetic testing market expansion is highly dependent on patient education and the adoption of personalized medicines.
Genetic testing requires state-of-the-art technology, which means its affordability is not consumer-friendly. These tests can cost anywhere from a couple hundred to thousands of dollars and often are not included in insurance. This results in less eager adoption by individuals, reducing the overall demand for this medical process. Healthcare providers with limited infrastructure development opportunities cannot afford the high-quality equipment that is involved in maintaining the accuracy of testing. This process also often requires expert interpretation and follow-up counseling. This often leads to additional expenditure, hiking up the overall price of testing procedures. This results in the adoption of alternative processes like blood tests such as DNA sequencing, complete blood count (CBC) tests, imaging tests, biopsies, electrocardiograms (ECGs), endoscopy, etc.
Therefore, as this type of testing demands high upfront charges due to unequal socioeconomic and geographic barriers its expansion is often restricted.
Non-invasive prenatal testing (NIPT) is a screening process employed during pregnancy in order to identify possible genetic conditions in the fetus. Since it only requires testing an individual's blood sample, it is non-invasive and a safe method. Primarily, NIPT was used to identify chromosomal abnormalities only, however, it now can identify various genetic disorders such as microdeletions. NIPT also detects conditions such as Down syndrome, Patau syndrome, Edwards syndrome, etc. This is a fast process, with great precision rates, and can provide personalized care for the mothers.
Thus, as the NIPT market growth is evident, the market finds itself with a greater opportunity to expand its influence on the global stage.
The market is segmented based on type into Predictive and Presymptomatic Testing, Carrier Testing, Prenatal and Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, and others.
Trends in the Material Type:
Predictive and Presymptomatic Testing accounted for the largest revenue of 33.38% of the global genetic testing market in 2023.
Pharmacogenomic Testing is expected to have the fastest CAGR during the forecasted period.
The market is segmented based on technology into Cytogenetic Testing, Biochemical Testing, Molecular Testing, Fluorescent in Situ Hybridization (FISH), and others.
Trends in the Technology:
Molecular Testing (NGS, PCR) accounted for the largest revenue of the total genetic testing market share in 2023.
Next-Generation Sequencing (NGS) is expected to have the fastest CAGR in during the forecasted period.
The market is segmented based on application into Oncology, Cardiovascular Diseases, Neurological Diseases, Infectious Diseases, and others.
Trends in the Application:
Oncology accounted for the largest revenue share in the genetic testing market share in 2023.
Neurological Diseases are expected to have the fastest CAGR during the forecasted period.
The market is segmented based on end-users into Hospitals and Clinics, Diagnostic Laboratories, Academic & Research Institutions, Direct-to-Consumer Services, and others.
Trends in the End-User:
Diagnostic Laboratories accounted for the largest revenue in 2023.
Direct-to-consumer services are expected to have the fastest CAGR during the forecasted period.
The regions covered are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Asia Pacific region was valued at USD 4.34 Billion in 2023. Moreover, it is projected to grow by USD 4.41 Billion in 2024 and reach over USD 13.87 Billion by 2031. Out of this, China accounted for the maximum revenue share of 37.8%.
The Asia Pacific (APAC) region, especially in nations like India, China, Thailand, Vietnam, etc. has a large and genetically diverse population. This raises the probability of chronic and rare genetic diseases such as cancer, diabetes, etc. among the public. This drives the need for testing in the APAC region, leading to genetic testing market expansion.
North America is estimated to reach over USD 25.50 Billion by 2031 from a value of USD 9.02 Billion in 2023 and is projected to grow by USD 9.06 Billion in 2024.
The genetic testing market analysis shows that in North America, especially in the United States and Canada, there is a high concentration of skilled and developed medical infrastructure. The cutting-edge medical facilities offer an opportunity to integrate testing into daily medical care. There is an effort made by both the government and private sectors to invest in biotech, genomics, etc.
Europe has experienced a rising trend in consumer awareness about the potential health benefits of personalized medicines and pharmacogenomics. This has made this testing widely popular in many European nations, especially in the UK, Germany, etc.
In the Middle East and Africa (MEA), consanguineous marriages are prevalent. This has led to an increase in the incidence of inherited genetic disorders from parents to offspring, leading to a demand for genetic screening and counseling.
Within certain countries in Latin America, especially Brazil, Argentina, Mexico, etc DTC testing is popular as tracing ancestral roots is a personal trend. This has led to increased rates of early detection of diseases, driving the genetic testing market demand.
The genetic testing market is highly competitive with major players providing products and services to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in the genetic testing market. Key players in the global genetic testing industry include:
Product Launches:
Mergers and Acquisitions:
Product Enhancements:
Partnerships and Collaborations:
Report Attributes | Report Details |
Study Timeline | 2018-2031 |
Market Size in 2031 | USD 61.02 Billion |
CAGR (2024-2031) | 14.0% |
By Type |
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By Technology |
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By Application |
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By End-User |
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By Region |
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Key Players |
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North America | U.S. Canada Mexico |
Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
Middle East and Africa | GCC Turkey South Africa Rest of MEA |
LATAM | Brazil Argentina Chile Rest of LATAM |
Report Coverage |
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The major players in the market include Illumina, Inc. (USA), Thermo Fisher Scientific Inc. (USA), Myriad Genetics, Inc. (USA), F. Hoffmann-La Roche Ltd (Switzerland), QIAGEN (Germany), LabCorp Genetics, Inc. (USA), Natera, Inc. (USA), Bio-Rad Laboratories, Inc. (USA), Agilent Technologies, Inc. (USA), and 23andMe, Inc. (USA).
The genetic testing market is segmented based on type, technology, application, and end-user industry.
Asia Pacific is the fastest-growing region in the genetic testing market.