The Genetic Testing Market was valued for $15,533.53 million in 2022 and is estimated to reach $40,872.42 million by 2032, exhibiting a CAGR of 10.2% from 2023 to 2032. Genetic testing is the study of DNA that identifies gene mutation associated with a variety of genetic disorders. There are various types of genetic testing and several methods such as cytogenetic testing, biochemical testing, molecular testing, and chromosome analysis used to determine changes in a person’s chromosomes, genes, or proteins. The results of a genetic tests confirm or diagnose a suspected genetic condition or help determine a person’s chance of developing or passing on a genetic disorder.
The genetic testing market growth is driven by rise in number of genetic tests and increase in use of technological advancements for diagnosis of diseases. In addition, ongoing advancements in genomic research have led to a better understanding of the genetic basis of diseases and traits. This has expanded the scope of genetic testing for both clinical and non-clinical purposes. Moreover, the increasing awareness of genetic disorders and their impact on health has led to greater demand for genetic testing. Early detection of genetic diseases is crucial for timely intervention and treatment. Thus, this factor is anticipated to boost the growth of market. Moreover, rise in number of genetic testing in developed countries such as the U.S. is expected to fuel the growth of market in the forecast period. For instance, according to National Library of Medicine, as of November 2022, a total of number of genetic tests performed in the U.S. are 129,624. In addition, as per the same source, it was reported that 197,779 genetic tests were performed globally in 2022.
In addition, genetic testing has become integral in the field of oncology. It helps in identifying genetic mutations that drive cancer and guides the selection of targeted therapies. Thus, rise in number of populations suffering from cancer and technological advancement for diagnosis of cancer are expected to boost the growth of market. Moreover, genetic testing is becoming more common in prenatal and neonatal care, aiding in the early detection of genetic abnormalities. Prenatal and neonatal screening allows for the early detection of genetic disorders and congenital conditions. Identifying these conditions in the earliest stages of development enables healthcare providers to take proactive measures to manage and treat them effectively. Thus, this factor is anticipated to fuel the growth of market.
The genetic testing market is segmented into type, technology, application, and region. By type, the market is categorized into predictive & pre-symptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. Based on technology, it is divided into cytogenetic testing, biochemical testing, and molecular testing. Molecular testing is further classified into DNA sequencing and others. As per application, it is segmented into cancer diagnosis, genetic disease diagnosis, and others.
Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Major key players that operate in the global genetic testing market are Abbott Laboratories, Bio-Rad Laboratories, Inc., Myriad Genetics, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Eurofins Scientific, Illumina, Inc., Qiagen N.V., Thermo Fisher Scientific, Inc., and CSL Ltd. Key players operating in the market have adopted product approval, product launch, acquisition and agreement as their key strategies to expand their genetic testing market share.
The genetic testing market growth is driven by rise in number of genetic tests and increase in use of technological advancements for diagnosis of diseases. In addition, ongoing advancements in genomic research have led to a better understanding of the genetic basis of diseases and traits. This has expanded the scope of genetic testing for both clinical and non-clinical purposes. Moreover, the increasing awareness of genetic disorders and their impact on health has led to greater demand for genetic testing. Early detection of genetic diseases is crucial for timely intervention and treatment. Thus, this factor is anticipated to boost the growth of market. Moreover, rise in number of genetic testing in developed countries such as the U.S. is expected to fuel the growth of market in the forecast period. For instance, according to National Library of Medicine, as of November 2022, a total of number of genetic tests performed in the U.S. are 129,624. In addition, as per the same source, it was reported that 197,779 genetic tests were performed globally in 2022.
In addition, genetic testing has become integral in the field of oncology. It helps in identifying genetic mutations that drive cancer and guides the selection of targeted therapies. Thus, rise in number of populations suffering from cancer and technological advancement for diagnosis of cancer are expected to boost the growth of market. Moreover, genetic testing is becoming more common in prenatal and neonatal care, aiding in the early detection of genetic abnormalities. Prenatal and neonatal screening allows for the early detection of genetic disorders and congenital conditions. Identifying these conditions in the earliest stages of development enables healthcare providers to take proactive measures to manage and treat them effectively. Thus, this factor is anticipated to fuel the growth of market.
The genetic testing market is segmented into type, technology, application, and region. By type, the market is categorized into predictive & pre-symptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. Based on technology, it is divided into cytogenetic testing, biochemical testing, and molecular testing. Molecular testing is further classified into DNA sequencing and others. As per application, it is segmented into cancer diagnosis, genetic disease diagnosis, and others.
Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Major key players that operate in the global genetic testing market are Abbott Laboratories, Bio-Rad Laboratories, Inc., Myriad Genetics, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Eurofins Scientific, Illumina, Inc., Qiagen N.V., Thermo Fisher Scientific, Inc., and CSL Ltd. Key players operating in the market have adopted product approval, product launch, acquisition and agreement as their key strategies to expand their genetic testing market share.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the genetic testing market analysis from 2022 to 2032 to identify the prevailing genetic testing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the genetic testing market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global genetic testing market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Carrier Testing
- Prenatal and Newborn Testing
- Diagnostic Testing
- Pharmacogenomic Testing
- Others
- Predictive and Presymptomatic Testing
By Technology
- Cytogenetic testing
- Biochemical testing
- Molecular testing
By Application
- Cancer diagnosis
- Genetic disease diagnosis
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- Bio-Rad Laboratories, Inc.
- Myriad Genetics, Inc.
- F. Hoffmann-La Roche Ltd.
- Illumina, Inc.
- Qiagen N.V
- Luminex Corporation
- Abbott Laboratories
- Danaher Corporation
- Thermo Fisher Scientific, Inc.
- CSL Limited
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GENETIC TESTING MARKET, BY TYPE
CHAPTER 5: GENETIC TESTING MARKET, BY TECHNOLOGY
CHAPTER 6: GENETIC TESTING MARKET, BY APPLICATION
CHAPTER 7: GENETIC TESTING MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the genetic testing market was valued at $15.5 billion in 2022, and is estimated to reach $40.9 billion by 2032, growing at a CAGR of 10.2% from 2023 to 2032.Genetic testing involves examining the deoxyribonucleic acid (DNA), the chemical database that carries instructions for the body's functions. Genetic testing can reveal changes (mutations) in the genes that may cause illness or disease. The different types of genetic tests include predictive & pre-symptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. The technologies used in genetic testing are cytogenetic testing, biochemical testing, and molecular testing. Molecular testing is further classified into DNA sequencing and others. The application of genetic testing includes cancer diagnosis, genetic disease diagnosis, and others.
Key factors driving the growth of the genetic testing market include rise in prevalence of genetic diseases, increase in prevalence of cancer and rise in number of population suffering from cardiovascular diseases, neurological diseases and others is anticipated to boost the growth of market. In addition, rise in number of adoptions of key strategies such as business expansion, partnership, and others by market players who manufacture genetic testing products boost the growth of market. For instance, in January 2023, Illumina Inc., a global leader in DNA sequencing and array-based technologies, and Nashville Biosciences LLC, a wholly owned subsidiary of Vanderbilt University Medical Center (VUMC), announced an agreement with Amgen, a global biopharmaceutical company, to whole-genome sequence approximately 35,000 DNA samples. The sample cohort is primarily made up of DNA from African Americans, who are currently underrepresented in research for the clinical applications of genomics, including drug target discovery. This cohort will be the largest data set of genomes of its kind to date.
In addition, in November 2022, Myriad Genetics, Inc., a leader in genetic testing and precision medicine, announced that it has acquired Gateway Genomics, LLC, a personal genomics company and developer of consumer genetic tests including the No. 1 selling SneakPeek Early Gender DNA Test. SneakPeek reveals a baby’s gender at six weeks into pregnancy, the only at-home test to do so with 99% accuracy and the earliest method available.
Moreover, genetic tests such as carrier tests for inherited disorders such as cystic fibrosis, sickle cell anemia, and other diseases can decipher information about a couple’s risk of having a child with a genetic disorder. Rise in awareness regarding the importance of an early disease detection and prevention and surge in demand for personalized medicine are anticipated to boost the market growth. In addition, growth in awareness regarding the transfer of genetic diseases is being witnessed in the healthcare industry. In response to this, medical professionals have become more observant to detect and prevent these diseases at their early stages.
The genetic testing market is segmented into type, technology, application, and region. By type, the market is categorized into predictive & pre-symptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. Based on technology, it is divided into cytogenetic testing, biochemical testing, and molecular testing. Molecular testing is further classified into DNA sequencing and others. As per application, it is segmented into cancer diagnosis, genetic disease diagnosis, and others.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
The key players profiled in the Abbott Laboratories, Bio-Rad Laboratories, Inc., Myriad Genetics, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Eurofins Scientific, Illumina, Inc., Qiagen N.V., thermo Fisher Scientific, Inc., and CSL Ltd. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch and expansion to remain competitive and gain advantage over the competitors in the market. For instance, in March 2022, Myriad Genetics, Inc., a leader in genetic testing and precision medicine, announced the U.S. Food and Drug Administration (FDA) has approved Myriad's BRACAnalysis CDx test for use as a companion diagnostic to identify patients with germline BRCA-mutated (gRBCAm) HER2 negative, high-risk early-stage breast cancer who may benefit from Lynparza(olaparib).
Moreover, in August 2022, Myriad Genetics, Inc., a leader in genetic testing and precision medicine, announced Japan's Ministry of Health, Labour and Welfare (MHLW) has granted expanded coverage for the use of Myriad's BRACAnalysis diagnostic system as a companion diagnostic to identify patients with germline BRCA-mutated (gBRCAm) and HER2-negative high-risk recurrent breast cancer.
Key Market Insights
By type, prenatal and newborn testing segment was the highest revenue contributor to the market and is estimated to reach $12.28 billion by 2032, with a CAGR of 9.7%.By technology, molecular testing dominated the global market. However cytogenetic testing segment is expected to be the fastest-growing segment with a CAGR of 10.8% during the forecast period.
By application, the genetic disease diagnosis segment dominated the global market. However, the cancer diagnosis segment is expected to be the fastest-growing segment with a CAGR of 10.6% during the forecast period.
Companies Mentioned
- Bio-Rad Laboratories, Inc.
- Myriad Genetics, Inc.
- F. Hoffmann-La Roche Ltd.
- Illumina, Inc.
- Qiagen N.V
- Luminex Corporation
- Abbott Laboratories
- Danaher Corporation
- Thermo Fisher Scientific, Inc.
- CSL Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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