PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616777
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616777
Genetic Testing Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Genetic Testing Market was valued at USD 18.6 billion in 2023 and is projected to grow at a robust CAGR of 12.3% between 2024 and 2032. This growth is driven by advancements in genomics, such as high-throughput sequencing technologies and enhanced bioinformatics tools, which have significantly improved the accuracy, efficiency, and affordability of genetic testing. Additionally, the integration of genetic testing with digital health platforms and electronic health records has made genetic information more accessible and actionable, enhancing its utility in both clinical and consumer health settings. The increasing availability of consumer-initiated genetic testing services and products is also contributing to market growth. These services provide individuals with personalized insights into their genetic health risks, making genetic information more user-friendly and supported by tools like personalized health reports and access to genetic counseling.
Further, ongoing research funding aimed at accelerating technological innovation in the genomics sector is expected to drive continued expansion in the genetic testing industry. In terms of products and services, the market is segmented into kits & reagents and software & services. The kits & reagents segment dominated the market in 2023, generating USD 12.1 billion in revenue. Next-generation sequencing (NGS) kits, in particular, are in high demand due to their ability to sequence entire genomes or specific regions, facilitating comprehensive genetic analysis.These kits are critical for both clinical diagnostics and research, offering reagents for processes such as library preparation, sequencing, and data analysis. When classified by test type, the market includes predictive testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomics, nutrigenomics, and others. The prenatal and newborn testing segment led the market with a 39.6% share in 2023. This segment's dominance is driven by the growing adoption of advanced screening methods, such as non-invasive prenatal testing (NIPT), which allow for early detection of genetic disorders without the risks associated with invasive procedures. Regionally, North America held the largest market share, accounting for 46.3% in 2023. The region's dominance is supported by a strong presence of key market players, advanced healthcare infrastructure, and leading research institutions focused on genetic research.High levels of awareness about genetic disorders and their treatment options also drive the demand for genetic testing services and products in North America, positioning it as a key player in the global market growth trajectory.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $18.6 Billion |
| Forecast Value | $52.3 Billion |
| CAGR | 12.3% |
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates & calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Technological advancement and availability of new tests
- 3.2.1.2 Growing application of genetic testing in oncology and genetic diseases
- 3.2.1.3 Increasing consumer preference for personalized medicine
- 3.2.1.4 Growing demand for direct-to-consumer genetic testing
- 3.2.2 Industry pitfalls & challenges
- 3.2.2.1 High cost of genetic testing
- 3.2.2.2 Dearth of experienced professionals and advanced infrastructure in developing and developed economies
- 3.2.1 Growth drivers
- 3.3 Growth potential analysis
- 3.4 Regulatory landscape
- 3.5 Technology landscape
- 3.6 Reimbursement scenario
- 3.7 Porter's analysis
- 3.8 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Company matrix analysis
- 4.4 Competitive analysis of major market players
- 4.5 Competitive positioning matrix
- 4.6 Strategic dashboard
Chapter 5 Market Estimates and Forecast, By Products & Services, 2021 - 2032 ($ Mn)
- 5.1 Key trends
- 5.2 Kits & reagents
- 5.3 Software & services
Chapter 6 Market Estimates and Forecast, By Test Type, 2021 - 2032 ($ Mn)
- 6.1 Key trends
- 6.2 Predictive testing
- 6.3 Carrier testing
- 6.4 Prenatal and newborn testing
- 6.5 Diagnostic testing
- 6.6 Pharmacogenomic testing
- 6.7 Nutrigenomics
- 6.8 Other test types
Chapter 7 Market Estimates and Forecast, By Application, 2021 - 2032 ($ Mn)
- 7.1 Key trends
- 7.2 Cancer treatment
- 7.3 Tissue typing for transplantation
- 7.4 Forensic identity testing
- 7.5 Ancestry testing
- 7.6 Paternity testing
- 7.7 Other applications
Chapter 8 Market Estimates and Forecast, By Techniques, 2021 - 2032 ($ Mn)
- 8.1 Key trends
- 8.2 Polymerase chain reaction
- 8.3 DNA sequencing
- 8.3.1 Sanger sequencing
- 8.3.2 Next generation sequencing
- 8.4 Cytogenetic testing
- 8.4.1 Chromosome analysis (karyotyping)
- 8.4.2 Fluorescence in situ hybridization (FISH)
- 8.5 Microarrays
- 8.6 Gene expression profiling
Chapter 9 Market Estimates and Forecast, By End-use, 2021 - 2032 ($ Mn)
- 9.1 Key trends
- 9.2 Hospitals & clinics
- 9.3 Diagnostic laboratories
- 9.4 Forensic laboratories
- 9.5 Other end-users
Chapter 10 Market Estimates and Forecast, By Region, 2021 - 2032 ($ Mn)
- 10.1 Key trends
- 10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
- 10.3 Europe
- 10.3.1 Germany
- 10.3.2 UK
- 10.3.3 France
- 10.3.4 Spain
- 10.3.5 Italy
- 10.3.6 Netherlands
- 10.3.7 Rest of Europe
- 10.4 Asia Pacific
- 10.4.1 Japan
- 10.4.2 China
- 10.4.3 India
- 10.4.4 Australia
- 10.4.5 South Korea
- 10.4.6 Rest of Asia Pacific
- 10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Rest of Latin America
- 10.6 Middle East and Africa
- 10.6.1 South Africa
- 10.6.2 Saudi Arabia
- 10.6.3 UAE
- 10.6.4 Rest of Middle East and Africa
Chapter 11 Company Profiles
- 11.1 23 and ME, Inc.
- 11.2 Abbott Laboratories
- 11.3 Ambry genetics
- 11.4 Ancestry DNA
- 11.5 bioMerieux SA
- 11.6 BGI Genomics
- 11.7 Illumina, Inc.
- 11.8 Invitae Corporation
- 11.9 Luminex Corporation
- 11.10 Myriad Genetics, Inc.
- 11.11 Natera, Inc.
- 11.12 QIAGEN N.V.
- 11.13 Quest Diagnostics
- 11.14 Siemens Healthineers AG
