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Genetic Testing - Global Strategic Business Report

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    Report

  • 573 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338531

Global Genetic Testing Market to Reach $24.8 Billion by 2030

The global market for Genetic Testing estimated at US$13 Billion in the year 2023, is projected to reach a revised size of US$24.8 Billion by 2030, growing at a CAGR of 8.4% over the analysis period 2023-2030.

Prenatal & Newborn Genetic Testing, one of the segments analyzed in the report, is projected to record 8.6% CAGR and reach US$8.4 Billion by the end of the analysis period. Growth in the Diagnostic segment is estimated at 8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $5.5 Billion, While China is Forecast to Grow at 10.4% CAGR

The Genetic Testing market in the U.S. is estimated at US$5.5 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$2 Billion by the year 2030 trailing a CAGR of 10.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 8.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 7.3% CAGR.

Exciting New Report Features

  • Full access to influencer engagement stats
  • Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
  • Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
  • Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
  • Complimentary report updates for one year
  • Competitor coverage with global market shares of major players
  • Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
  • Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

What to Expect from the Global Economy in 2024

Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.

Select Competitors (Total 249 Featured)

  • Agilent Technologies, Inc.
  • Asuragen, Inc.
  • Biocartis NV
  • Agena Bioscience, Inc.
  • ARUP Laboratories
  • Bioiberica SAU
  • AutoGenomics, Inc.
  • Biodesix, Inc.
  • Admera Health
  • Annoroad Gene Technology
  • Berry Genomics Co., Ltd.
  • Ariel Precision Medicine, Inc.
  • AlphaBiolabs Ltd.
  • AnchorDx
  • Alexian Brothers of America, Inc.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Genetic Testing - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • A Prelude to Genetic Testing
  • Top Ten Genetic Diseases Worldwide
  • Different Types of Genetic Tests include
  • Prenatal and Newborn Screening
  • Diagnostic Testing
  • Predictive & Presymptomatic Testing
  • Carrier Identification
  • Pharmacogenomic Testing
  • List of Genetic Disorders by Event, Genetic Manifestation and Prevalence
  • Genetic Testing Delivery Models
  • Genetic Sequencing Approaches
  • Expanding Applications to Drive Genetic Testing Market
  • Regional Landscape
  • Prenatal Testing Market to Rise
  • Market Outlook
2. FOCUS ON SELECT PLAYERS
  • Recent Market Activity
  • World Brands
  • Innovations
3. MARKET TRENDS & DRIVERS
  • Studies Indicate Possible Correlation between Genetic Variations Tied to Immunity and COVID-19 Severity
  • SEGMENT ANALYSIS
  • Prenatal Testing - Changing the World of Pregnancy Care
  • List of Available Prenatal Screening and Diagnostic Tests by Indication
  • Players in the Prenatal and New Born Genetic Testing Market
  • Conventional Invasive Pre-Natal Diagnostic Techniques - A Risky Affair
  • Emergence of Non-Invasive Prenatal Diagnosis (NIPD)
  • Competition Intensifies in the NIPD Market
  • Select Commercially Available NIPD (Genetic) Tests for Aneuploidy in the US
  • Strain on Resources Prevent Wide Adoption of Expanded Carrier Sequencing
  • Predictive Diagnostics
  • Breast Cancer Gene Testing Market to Expand Strongly
  • Myriad Genetics - A Leader in Breast Cancer Testing
  • Discovery of Novel Biomarkers Crucial to Predictive Diagnostics
  • Pharmacogenomics Development Augurs Growth of Genetic Testing Market
  • MARKET TRENDS AND GROWTH DRIVERS
  • Genetic Testing Paves the Way for Personalized Medicine
  • Next-Generation Sequencing (NGS) - A Giant Leap in Genome Sequencing
  • Biomarker Discovery Leads to Advanced Genetic Testing
  • Select List of Available Tumor Markers
  • Immense Popularity of Ancestry Testing
  • Increasing Focus on Data Churning
  • Genetic Testing to Explode into Provider Workflow with Intriguing Use Cases
  • Primary Factors Responsible for Waning Interest in Direct-to Consumer Genetic Testing
  • Liquid Biopsy to Facilitate Cancer Diagnosis and Treatment
  • Hybrid Labs to Bridge Gap Between Traditional and DTC Models
  • Rising Prevalence of Cancer and Chromosomal Disorders Augments Demand for Cell-Free DNA Testing
  • Emergence of Rapid DNA Testing
  • Oncology - A Key Focus Area for Genetic Testing
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • Ageing Demographics to Drive Demand for Genetic Testing
  • Expanding Elderly Population Worldwide: Breakdown of Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Genetic Testing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 2: World Historic Review for Genetic Testing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 3: World 16-Year Perspective for Genetic Testing by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2024 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Prenatal & Newborn by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 5: World Historic Review for Prenatal & Newborn by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 6: World 16-Year Perspective for Prenatal & Newborn by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Diagnostic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Diagnostic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 9: World 16-Year Perspective for Diagnostic by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Predictive & Presymptomatic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 11: World Historic Review for Predictive & Presymptomatic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 12: World 16-Year Perspective for Predictive & Presymptomatic by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Carrier by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 14: World Historic Review for Carrier by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 15: World 16-Year Perspective for Carrier by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Pharmacogenomic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 17: World Historic Review for Pharmacogenomic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 18: World 16-Year Perspective for Pharmacogenomic by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Other Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 20: World Historic Review for Other Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 21: World 16-Year Perspective for Other Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Cancer by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 23: World Historic Review for Cancer by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 24: World 16-Year Perspective for Cancer by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • Table 25: World Recent Past, Current & Future Analysis for Genetic Disease by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 26: World Historic Review for Genetic Disease by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 27: World 16-Year Perspective for Genetic Disease by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • Table 28: World Recent Past, Current & Future Analysis for Cardiovascular Disease by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 29: World Historic Review for Cardiovascular Disease by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 30: World 16-Year Perspective for Cardiovascular Disease by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • Table 31: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 32: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 33: World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
  • Table 34: World Genetic Testing Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Genetic Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • Use of Genomic Data in Clinical Settings to Gather Pace
  • The United States: Leading Market for Genetic Testing Globally
  • Predictive Screening: Another Growth Area
  • Growing Relevance of Personalized Medicine Augurs Well
  • Rising Incidence of Cancer in the US: Driver for Cancer Genetic Testing
  • Newborn Testing Gains Ground
  • Invasive Prenatal Diagnosis Gives Way to Non-Invasive Prenatal Testing
  • Coverage of NIPT in Average Risk Pregnancies Expands Target Market
  • Direct-to-Consumer Testing: A Growing Market
  • Favorable Reimbursement Policies
  • Favorable Insurance Coverage for Cystic Fibrosis Genetic Testing
  • Demographic Changes Offer Growth Opportunities
  • Skepticism Limits Widespread Adoption of Genetic Testing
  • Competitive Overview
  • Myriad Eyes Diversification and Expansion for Growth
  • Natera Holds Fort in the NIPT Market
  • Invitae Banks on Low Cost Solutions for Expanding Revenues
  • Regulatory Environment
  • Genetic Information Nondiscrimination Act Boosts Genetic Testing
  • Stricter Regulations for DTC Genetic Testing
  • FDA Attempts to Put a Leash around Unapproved DTC Genetic Tests
  • Select Genetic Test Reimbursement Codes
  • Market Analytics
CANADA
  • Rising Incidence of Chronic Diseases Spurs Genetic Testing Demand
  • Regulatory Scenario
  • Market Analytics
JAPAN
  • Genetic Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • Demographics Drive Market Growth
  • DTC Genetic Testing Regulatory Scenario
CHINA
  • Genetic Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • Market Overview
  • China Attracts Domestic and Foreign Players
  • Strong Focus on Genomics
  • Genetic Testing to Reveal Real Talent in Children - A New Popular Application
  • China to Take Lead in Rapidly Growing Asian Genomics Market
  • Market Analytics
EUROPE
  • Genetic Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • European Personalized Medicine Market to Exhibit Robust Growth
  • Aging Population to Drive Demand for Genetic Testing
  • Legislations/Regulatory Policies in Select European Countries
  • Legislations Governing Genetic Testing in Select European Countries
  • Rising Cancer Incidence Augurs Well for European Genetic Testing Market
FRANCE
  • Genetic Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
  • Genetic Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
  • Parliamentary Regulations
ITALY
UNITED KINGDOM
  • Genetic Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
  • Increased Support for Personalized Medicine to Drive Genetic Testing
  • SMIP for Pharmacogenomic Testing
  • Increasing Need for Less Risky Prenatal Diagnostic Methods in the UK
  • Principles for DTC Genetic Testing Laid out by HGC
REST OF EUROPE
ASIA-PACIFIC
  • Genetic Testing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Healthcare Spending in Asia-Pacific: On the Rise
  • India
  • Australia and New Zealand
  • Market Analytics
REST OF WORLD
  • Predictive Screening: Another Growth Area
  • Market Analytics
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Agilent Technologies, Inc.
  • Asuragen, Inc.
  • Biocartis NV
  • Agena Bioscience, Inc.
  • ARUP Laboratories
  • Bioiberica SAU
  • AutoGenomics, Inc.
  • Biodesix, Inc.
  • Admera Health
  • Annoroad Gene Technology
  • Berry Genomics Co., Ltd.
  • Ariel Precision Medicine, Inc.
  • AlphaBiolabs Ltd.
  • AnchorDx
  • Alexian Brothers of America, Inc.