Genome Testing Market by Component, Technology, Application, Distribution Channel, End-use

List of Tables

[199 Pages Report] The Genome Testing Market size was estimated at USD 17.57 billion in 2023 and expected to reach USD 19.76 billion in 2024, at a CAGR 13.21% to reach USD 41.90 billion by 2030.

Genome Testing, often referred to as whole genome sequencing (WGS), involves examining the complete sequence of DNA in an organism's genome at a single time. This comprehensive analysis covers all types of genetic variations, including insertions, deletions, single nucleotide polymorphisms (SNPs), copy number variations, and large structural changes. Growing emphasis on early disease detection & prevention, along with the increasing interest in ancestry and genealogy, boosts the significance of genome testing. However, the high cost associated with genomics equipment and the complexity of interpreting genetic information impact the market growth. Furthermore, the integration of AI and big data analytics for improved interpretation of genetic data is creating a potential opportunity for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 17.57 billion
Estimated Year [2024]	USD 19.76 billion
Forecast Year [2030]	USD 41.90 billion
CAGR (%)	13.21%

Regional Insights

In the Americas, particularly in the United States and Canada, the consumer need for genome testing is driven by a heightened awareness of personalized medication and a growing focus on preventive healthcare procedures. Customers in these regions exhibit a willingness to invest in health and wellness, supported by higher disposable income and substantial healthcare spending. The increasing prevalence of genetic disorders has catalyzed the demand for genome testing services. The European Union displays a diverse market for genome testing due to differences in healthcare systems, regulations, and consumer attitudes across member countries. Privacy concerns, ethical considerations, and regulatory frameworks such as the General Data Protection Regulation (GDPR) profoundly influence customer purchasing behavior. Emerging economies in the MEA show varying levels of demand for genome testing. The Middle East, with its well-funded healthcare systems in countries, is witnessing an increased interest in genome testing for personalized medicine. The Asia Pacific region, especially China, Japan, and India, exhibits a rapidly developing market for genome testing. China's investment in biotechnology has soared, as evidenced by its large-scale genome research projects and international collaborations.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Genome Testing Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing prevalence of genetic disorders and cancer across the globe
- Growing emphasis on early disease detection & prevention
- Increasing awareness of personalized medicine

Market Restraints
- High cost associated with genomics equipment

Market Opportunities
- Technological advancements in gene sequencing and data analysis
- Rising government initiatives and fundings for boosting research activities

Market Challenges
- Complexities associated with the interpreting genetic information

Market Segmentation Analysis
- Component: Ongoing advancements in equipments for high-throughput sequencing
- Technology: Increasing preference of next-generation sequencing due to its precise and comprehensive genomic analysis
- Application: Increasing investment for advance genome testing across
- End-use: Rising significance of advanced genomic in diagnostic laboratories for research associated with genetic diseases

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Genome Testing Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Genome Testing Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Cone Health Readies for 100,000 Person Genomics Project

Cone Health is on the brink of launching an expansive genomic testing initiative designed to enhance the health and longevity of individuals throughout the Piedmont Triad region. The program aims to harness the predictive power of genomics to identify individuals at risk for certain diseases, such as breast cancer and cardiac issues, thereby enabling early intervention and personalized healthcare. Cone Health has partnered with population genomics specialist, Helix, and envisages recruiting 100,000 healthy volunteers within five years for DNA sequencing via blood or saliva samples. [Published On: 2023-12-04]

Illumina Launches Advanced Liquid Biopsy Assay to Enable Comprehensive Genomic Profiling of Solid Tumors

Illumina Inc. has unveiled its latest innovation, the TruSight Oncology 500 ctDNA v2 (TSO 500 ctDNA v2), designed for the comprehensive genomic profiling (CGP) of circulating tumor DNA (ctDNA) using a noninvasive liquid biopsy approach. The TSO 500 ctDNA v2 presents a significant advancement for cancer research, offering a viable solution for genomic profiling when tissue samples are unattainable or enhancing the insights gained from traditional tissue-based tests. [Published On: 2023-11-01]

Apollo Opens Genomic Institute In Chennai, to Open Three More in 2023

Apollo Hospitals Group has inaugurated a Genomics Institute in Chennai to advance the study of genes and tackle genetic disorders. This marks the newest addition to their growing network with existing facilities in Mumbai and Delhi. By the end of 2023, Apollo is poised to enhance its genomic footprint with additional institutes launching in Hyderabad, Bangalore, and Ahmedabad. The Chennai Institute is set to offer comprehensive genomic services, including genetic evaluation, clinical diagnostics, obstetric genetics, and cancer genomics. These services are meticulously designed to provide patients with critical information for the management and prevention of genetic disorders. [Published On: 2023-04-25]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Genome Testing Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Genome Testing Market, highlighting leading vendors and their innovative profiles. These include 10x Genomics, 23andMe, Inc, Abbott Laboratories, Agilent Technologies, Inc., BGI Group, Bio-Rad Laboratories, Inc., Danaher Corporation, Eurofins Scientific SE, F. Hoffmann-La Roche, Ltd., Freenome Holdings, Inc., GeneDx, LLC, Genomic Testing Cooperative, Helix OpCo, LLC, Illumina, Inc., Merck KGaA, New England Biolabs, Inc., Novogene Co, Ltd., Oxford Nanopore Technologies PLC, PerkinElmer Inc., QIAGEN N.V., Quest Diagnostics Incorporated, Takara Bio Inc, Thermo Fisher Scientific Inc., Ultima Genomics, Inc., and VWR International, LLC.

Market Segmentation & Coverage

This research report categorizes the Genome Testing Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Consumables
- Equipment
- Software & Services

Technology
- Microarrays
- Next-Generation Sequencing
- Targeted Sequencing
- Whole Genome Sequencing

Application
- Cancer
  - Brain Cancer
  - Breast Cancer
  - Colorectal Cancer
  - Lung Cancer
  - Melanoma
  - Ovarian Cancer
  - Prostate Cancer

Non-cancer
- Cardiovascular Diseases
- Neurological Disorders
- Tumors

Distribution Channel
- Offline
- Online

End-use
- Diagnostic Laboratories
- Hospitals & Clinics

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-647F3A880B41

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing prevalence of genetic disorders and cancer across the globe
  - 5.1.1.2. Growing emphasis on early disease detection & prevention
  - 5.1.1.3. Increasing awareness of personalized medicine
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with genomics equipment
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in gene sequencing and data analysis
  - 5.1.3.2. Rising government initiatives and fundings for boosting research activities
- 5.1.4. Challenges
  - 5.1.4.1. Complexities associated with the interpreting genetic information
5.2. Market Segmentation Analysis
- 5.2.1. Component: Ongoing advancements in equipments for high-throughput sequencing
- 5.2.2. Technology: Increasing preference of next-generation sequencing due to its precise and comprehensive genomic analysis
- 5.2.3. Application: Increasing investment for advance genome testing across
- 5.2.4. End-use: Rising significance of advanced genomic in diagnostic laboratories for research associated with genetic diseases
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Genome Testing Market, by Component

6.1. Introduction
6.2. Consumables
6.3. Equipment
6.4. Software & Services

7. Genome Testing Market, by Technology

7.1. Introduction
7.2. Microarrays
7.3. Next-Generation Sequencing
7.4. Targeted Sequencing
7.5. Whole Genome Sequencing

8. Genome Testing Market, by Application

8.1. Introduction
8.2. Cancer
8.3. Non-cancer

9. Genome Testing Market, by Distribution Channel

9.1. Introduction
9.2. Offline
9.3. Online

10. Genome Testing Market, by End-use

10.1. Introduction
10.2. Diagnostic Laboratories
10.3. Hospitals & Clinics

11. Americas Genome Testing Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Genome Testing Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Genome Testing Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Cone Health Readies for 100,000 Person Genomics Project
- 14.3.2. Illumina Launches Advanced Liquid Biopsy Assay to Enable Comprehensive Genomic Profiling of Solid Tumors
- 14.3.3. Apollo Opens Genomic Institute In Chennai, to Open Three More in 2023
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio