The global genetic analysis services market accounted for USD 11.18 billion in 2023 and is expected to reach at USD 26.74 billion by 2034 with a CAGR of 8.25% during the forecast period 2024-2034. A heightened awareness surrounding newborn screening, uptick in the occurrence of genetic disorders, rising advancements in genomics & biotechnology, increase in efforts to develop genetic testing products, expanding utilization of genetic testing services in both drug discovery & development, rising trend in the use of direct-to-consumer genetic testing services, and surge in the introduction of innovative genetic analysis services are the key factors fuelling the market growth.
Surge in the introduction of innovative genetic analysis services is predicted to boost the market growth during he forecast period. The genetic analysis market involves diverse technologies and services focused on examining genetic material like DNA and RNA to comprehend genetic variances, inherited characteristics, and susceptibility to diseases. This field spans various applications including research, diagnostics, personalized medicine, and agriculture. With progress in sequencing technologies, bioinformatics, and data analysis methods, the genetic analysis market is witnessing swift growth and evolution. For instance, in February 2024, CooperSurgical, a renowned leader in fertility and women's health, has teamed up with Fulgent Genetics, Inc., a technology-driven company with a strong presence in clinical diagnostics and therapeutic development. Together, they have announced a partnership to provide exclusive newborn genetic screening panels for families affiliated with Cord Blood Registry (CBR).
By product, consumables was the highest revenue-grossing segment in the global genetic analysis services market in 2023 owing to the multiple entities participate in the distribution and sale of consumables, offering an extensive array of products including reagents and accessories, which are utilized continuously and repeatedly throughout various processes. There is a notable emphasis on employing both organic and inorganic growth strategies to expand existing product portfolios, alongside an increase in the introduction of new products. For instance, in April 2023, CENTOGENE has introduced the NEW CentoGenome, a whole-genome sequencing solution considered the most comprehensive globally for diagnosing rare and neurodegenerative diseases. Additionally, service is predicted to grow at the fastest CAGR during the forecast period owing to a broadening scope of services in skin and genetic testing, accompanied by a rise in strategic initiatives from Contract Research Organizations (CROs) involving investment.
By technology, next-generation sequencing was the highest revenue-grossing segment in the global genetic analysis services market in 2023 owing to the rise in genome mapping initiatives, increase in healthcare spending, advancements in technology, an uptick in the utilization of next-generation sequencing techniques, growing prevalence of cancer and genetic disorders, and increase in mergers & acquisitions among industry participants. For instance, in January 2023, QIAGEN finalized the acquisition of Verogen, enhancing its position as a leader in Human ID/Forensics by incorporating NGS technologies. Additionally, array technology is predicted to grow at the fastest CAGR during the forecast period owing to the growing incidence of cancer, increasing adoption of DNA-based array technology for diagnosing genetic diseases and personalized medicine. Array technology, a laboratory tool that examines the expression of numerous genes simultaneously, involves utilizing thousands of gene sequences on a gene chip. This method is widely utilized for early cancer detection, gene expression analysis, and drug development.
By application, health and wellness-predisposition/risk/tendency was the highest revenue-grossing segment in the global genetic analysis services market in 2023 owing to the increasing need for predictive genetics and consumer/wellness genomics testing, growing emphasis on healthy lifestyles, and heightened awareness campaigns in the healthcare sector. Additionally, genetic disease carrier status is predicted to grow at the fastest CAGR during the forecast period owing to the test assesses the probability of ancestral DNA aligning closely with the entirety of known genomic data, while also witnessing a growing number of advanced services being introduced. For instance, in April 2022, CENTOGENE has launched FilterTool, a web-based application designed for interpreting genetic data. FilterTool integrates with CentoCloud to efficiently display, filter, select, and categorize relevant genetic variations identified during Next Generation Sequencing (NGS) data analysis.
By distribution channel, online was the highest revenue-grossing segment in the global genetic analysis services market in 2023 owing to the rise in funding for research within the molecular biology sector, increasing trend of direct-to-consumer testing, growing recognition and understanding of personalized medicine, and surge in the introduction of new products. For instance, in June 2022, Prenetics Group Limited unveiled ColoClear by Circle, an at-home screening test that doesn't require invasive procedures, aiming to detect colorectal cancer early. This innovative test enhances the capacity to spot indications of colorectal cancer in its initial phases, thereby enhancing treatment effectiveness. Additionally, offline is predicted to grow at the fastest CAGR during the forecast period owing to numerous new technologies have emerged for molecular genetic testing, fueling rapid expansion within the testing industry, increase in private diagnostic laboratories offering diverse genetic testing solutions, growing momentum in the provision of molecular-based testing services, with pharmacies now selling buccal swab collection kits and saliva samples over the counter.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global genetic analysis services market in 2023 owing to a requirement for compulsory newborn screening for genetic disorders, rise in cancer rates, the expansion of hospital and clinic capabilities, surge in the adoption of telehealth & in-house hospital services, and increasing number of new test products being introduced. For instance, in March 2022, Illumina has introduced a cancer test in Europe capable of analyzing a wide array of tumor genes with just one tissue sample. This test holds promise for individuals with rare diseases, as it facilitates the identification of appropriate treatment options through thorough genomic analysis. Additionally, diagnostic laboratories is predicted to grow at the fastest CAGR during the forecast period owing to the growing trend of diagnostic laboratories partnering and collaborating with genetic testing companies.
North America region is anticipated for the highest revenue share during the forecast period owing to the rise in chronic illnesses, facilitated by the availability of advanced diagnostic technologies, increasing prevalence of infectious diseases, supported by well-established healthcare infrastructure, rising government funding for research, and surge in the introduction of innovative products. For instance, in March 2024, Nucleus Genomics, a forward-thinking company specializing in next-generation genetic testing and analysis, unveiled its DNA analysis product with the aim of democratizing personalized medicine for all. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the presence of a large target population, increasing adoption of innovative laboratory techniques & techniques such as DNA sequencing for rapid investigation & diagnosis of chronic and infectious disorders, and increasing government initiatives within the region. For instance, in February 2024, The Indian Council of Medical Research (ICMR) provided complimentary genetic testing services for rare diseases across India. This initiative aimed to improve access to genetic testing and counseling services, with a particular focus on Maharashtra.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Surge in the introduction of innovative genetic analysis services is predicted to boost the market growth during he forecast period. The genetic analysis market involves diverse technologies and services focused on examining genetic material like DNA and RNA to comprehend genetic variances, inherited characteristics, and susceptibility to diseases. This field spans various applications including research, diagnostics, personalized medicine, and agriculture. With progress in sequencing technologies, bioinformatics, and data analysis methods, the genetic analysis market is witnessing swift growth and evolution. For instance, in February 2024, CooperSurgical, a renowned leader in fertility and women's health, has teamed up with Fulgent Genetics, Inc., a technology-driven company with a strong presence in clinical diagnostics and therapeutic development. Together, they have announced a partnership to provide exclusive newborn genetic screening panels for families affiliated with Cord Blood Registry (CBR).
By product, consumables was the highest revenue-grossing segment in the global genetic analysis services market in 2023 owing to the multiple entities participate in the distribution and sale of consumables, offering an extensive array of products including reagents and accessories, which are utilized continuously and repeatedly throughout various processes. There is a notable emphasis on employing both organic and inorganic growth strategies to expand existing product portfolios, alongside an increase in the introduction of new products. For instance, in April 2023, CENTOGENE has introduced the NEW CentoGenome, a whole-genome sequencing solution considered the most comprehensive globally for diagnosing rare and neurodegenerative diseases. Additionally, service is predicted to grow at the fastest CAGR during the forecast period owing to a broadening scope of services in skin and genetic testing, accompanied by a rise in strategic initiatives from Contract Research Organizations (CROs) involving investment.
By technology, next-generation sequencing was the highest revenue-grossing segment in the global genetic analysis services market in 2023 owing to the rise in genome mapping initiatives, increase in healthcare spending, advancements in technology, an uptick in the utilization of next-generation sequencing techniques, growing prevalence of cancer and genetic disorders, and increase in mergers & acquisitions among industry participants. For instance, in January 2023, QIAGEN finalized the acquisition of Verogen, enhancing its position as a leader in Human ID/Forensics by incorporating NGS technologies. Additionally, array technology is predicted to grow at the fastest CAGR during the forecast period owing to the growing incidence of cancer, increasing adoption of DNA-based array technology for diagnosing genetic diseases and personalized medicine. Array technology, a laboratory tool that examines the expression of numerous genes simultaneously, involves utilizing thousands of gene sequences on a gene chip. This method is widely utilized for early cancer detection, gene expression analysis, and drug development.
By application, health and wellness-predisposition/risk/tendency was the highest revenue-grossing segment in the global genetic analysis services market in 2023 owing to the increasing need for predictive genetics and consumer/wellness genomics testing, growing emphasis on healthy lifestyles, and heightened awareness campaigns in the healthcare sector. Additionally, genetic disease carrier status is predicted to grow at the fastest CAGR during the forecast period owing to the test assesses the probability of ancestral DNA aligning closely with the entirety of known genomic data, while also witnessing a growing number of advanced services being introduced. For instance, in April 2022, CENTOGENE has launched FilterTool, a web-based application designed for interpreting genetic data. FilterTool integrates with CentoCloud to efficiently display, filter, select, and categorize relevant genetic variations identified during Next Generation Sequencing (NGS) data analysis.
By distribution channel, online was the highest revenue-grossing segment in the global genetic analysis services market in 2023 owing to the rise in funding for research within the molecular biology sector, increasing trend of direct-to-consumer testing, growing recognition and understanding of personalized medicine, and surge in the introduction of new products. For instance, in June 2022, Prenetics Group Limited unveiled ColoClear by Circle, an at-home screening test that doesn't require invasive procedures, aiming to detect colorectal cancer early. This innovative test enhances the capacity to spot indications of colorectal cancer in its initial phases, thereby enhancing treatment effectiveness. Additionally, offline is predicted to grow at the fastest CAGR during the forecast period owing to numerous new technologies have emerged for molecular genetic testing, fueling rapid expansion within the testing industry, increase in private diagnostic laboratories offering diverse genetic testing solutions, growing momentum in the provision of molecular-based testing services, with pharmacies now selling buccal swab collection kits and saliva samples over the counter.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global genetic analysis services market in 2023 owing to a requirement for compulsory newborn screening for genetic disorders, rise in cancer rates, the expansion of hospital and clinic capabilities, surge in the adoption of telehealth & in-house hospital services, and increasing number of new test products being introduced. For instance, in March 2022, Illumina has introduced a cancer test in Europe capable of analyzing a wide array of tumor genes with just one tissue sample. This test holds promise for individuals with rare diseases, as it facilitates the identification of appropriate treatment options through thorough genomic analysis. Additionally, diagnostic laboratories is predicted to grow at the fastest CAGR during the forecast period owing to the growing trend of diagnostic laboratories partnering and collaborating with genetic testing companies.
North America region is anticipated for the highest revenue share during the forecast period owing to the rise in chronic illnesses, facilitated by the availability of advanced diagnostic technologies, increasing prevalence of infectious diseases, supported by well-established healthcare infrastructure, rising government funding for research, and surge in the introduction of innovative products. For instance, in March 2024, Nucleus Genomics, a forward-thinking company specializing in next-generation genetic testing and analysis, unveiled its DNA analysis product with the aim of democratizing personalized medicine for all. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the presence of a large target population, increasing adoption of innovative laboratory techniques & techniques such as DNA sequencing for rapid investigation & diagnosis of chronic and infectious disorders, and increasing government initiatives within the region. For instance, in February 2024, The Indian Council of Medical Research (ICMR) provided complimentary genetic testing services for rare diseases across India. This initiative aimed to improve access to genetic testing and counseling services, with a particular focus on Maharashtra.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Technology, Application, Distribution Channel, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Genetic Analysis Services Market Report 2023 - 2034
Genetic Analysis Services Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Software & Services
- Equipment
- Consumables
Genetic Analysis Services Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
- FISH
- Array Technology
- PCR-based Testing
- Next Generation Sequencing
- Others
Genetic Analysis Services Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Traits Screening
- Ancestry & Ethnicity
- New Baby Screening
- Genetic Disease Carrier Status
- Health and Wellness-Predisposition/Risk/Tendency
Genetic Analysis Services Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Offline
- Online
Genetic Analysis Services Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals & Clinics
- Diagnostic Laboratories
- Others
Genetic Analysis Services Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Genetic Analysis Services Market: Product Estimates & Trend Analysis
8. Genetic Analysis Services Market: Technology Estimates & Trend Analysis
9. Genetic Analysis Services Market: Application Estimates & Trend Analysis
10. Genetic Analysis Services Market: Distribution Channel Estimates & Trend Analysis
11. Genetic Analysis Services Market: End-user Estimates & Trend Analysis
12. Regional Market Analysis
13. North America Genetic Analysis Services Market
14. Europe Global Genetic Analysis Services Market
15. Asia Pacific Global Genetic Analysis Services Market
16. Latin America Global Genetic Analysis Services Market
17. MEA Global Genetic Analysis Services Market
18. Competitor Analysis
19. Company Profiles
Companies Mentioned
- Everly Well
- 23andme
- MyDNA
- Igenomix
- VitaGen
- Tellmegen
- Circle DNA
- Myriad Genetics Inc.
- Helix OpCo LLC
- MyHeritage Ltd.
- Color Genomics Inc.
- Mapmygenome
- Illumina Inc.
- AncestryDNA
- 24 genetics
- Amgen Inc.
