Genetic Testing Market by Product, Test Type, Technology, Application, Distribution Channel, End-User

List of Tables

The Genetic Testing Market was valued at USD 11.89 billion in 2023, expected to reach USD 13.55 billion in 2024, and is projected to grow at a CAGR of 14.01%, to USD 29.79 billion by 2030.

The genetic testing market involves analyzing DNA to identify changes or mutations that might indicate a risk for specific diseases or disorders. It spans the breadth of healthcare, from prenatal to adult, addressing both predictive and diagnostic purposes. This market is driven by growing awareness of personalized medicine, a rising prevalence of genetic disorders, and technological advancements in genomics. With uses spanning from oncology to obstetrics, genetic testing assists in making informed medical decisions, tailoring treatments, and understanding genetic predispositions. The end-use scope is vast, covering healthcare facilities, diagnostic labs, and research institutes, emphasizing its crucial role in shaping future medical practices. Key growth factors include increased government funding in genomics, a surge in demand for direct-to-consumer genetic tests, and an expansion in precision medicine. Opportunities abound in emerging markets with a burgeoning middle class interested in health and wellness. To harness these, firms should focus on innovative product development, strategic partnerships, and investing in cost-effective technological advancements. However, the market faces limitations such as ethical concerns, high costs of testing, and stringent regulatory environments that may hinder market penetration. Challenges include gaps in consumer knowledge and genetic data interpretation complexities. Innovation opportunities lie in the integration of AI and machine learning for data analysis, development of advanced gene editing tools like CRISPR, and enhancing the affordability and accessibility of tests. As part of business strategies, companies should focus on the ever-evolving consumer needs, prioritize the enhancement of genetic data privacy, and optimize supply chains to reduce costs. The nature of the market is dynamic and competitive, underscoring the importance of staying agile and informed to maintain a competitive edge. Overall, continuous research and cross-industry collaborations are essential for growth and sustainability in this transformative field.

KEY MARKET STATISTICS
Base Year [2023]	USD 11.89 billion
Estimated Year [2024]	USD 13.55 billion
Forecast Year [2030]	USD 29.79 billion
CAGR (%)	14.01%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Genetic Testing Market

The Genetic Testing Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Prevalence of genetic and oncology disorders and the need for precision medicine
- Government initiatives for genetic testing and the rise of self-test kits
Market Restraints
- Concerns associated with false positives and negatives of genetic tests
Market Opportunities
- Ongoing research and new developments in genetic testing technologies
- Emergence of genetic testing with telehealth and digital health platforms
Market Challenges
- Logistical barriers and privacy concerns to genetic testing

Porter's Five Forces: A Strategic Tool for Navigating the Genetic Testing Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Genetic Testing Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Genetic Testing Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Genetic Testing Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Genetic Testing Market

A detailed market share analysis in the Genetic Testing Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Genetic Testing Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Genetic Testing Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Genetic Testing Market

A strategic analysis of the Genetic Testing Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Genetic Testing Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Agilent Technologies, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Bio-Techne Corporation, Bruker Corporation, Centogene N.V., Color Health, Inc., CooperSurgical Inc., Editas Medicine, Inc., Eugene Labs Pty Ltd., Eurofins Scientific SE, F. Hoffmann-La Roche AG, Fulgent Genetics, Inc., Gene by Gene, Ltd., GeneDx, LLC, Illumina, Inc., Invitae Corporation, Laboratory Corporation of America Holdings, Living DNA Ltd., Macrogen, Inc., MyHeritage Ltd., Myriad Genetics, Inc., Natera, Inc., Newtopia Inc., PathogenDx Corporation, PerkinElmer Inc., Qiagen N.V., Quest Diagnostics Incorporated, Sanofi S.A., and Thermo Fisher Scientific Inc..

Market Segmentation & Coverage

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

Based on Product, market is studied across Consumables & Equipment and Software & Services.
Based on Test Type, market is studied across Carrier Testing, Diagnostic Testing, New Born Screening, Pharmacogenomics, Preimplantation Testing, Prenatal Testing, and Presymptomatic & Predictive Testing.
Based on Technology, market is studied across Cytogenetics, DNA Sequencing, Gene Expression Profiling, Microarrays, and PCR.
Based on Application, market is studied across Autoimmune Disorders, Cancer, Chronic Diseases, Genetic Disorders, and Neurodegenerative Diseases.
Based on Distribution Channel, market is studied across Offline and Online.
Based on End-User, market is studied across Diagnostic Laboratories, Home Setting, and Hospitals & Clinics.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-437E9896A512

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. Prevalence of genetic and oncology disorders and the need for precision medicine
  - 5.1.1.2. Government initiatives for genetic testing and the rise of self-test kits
- 5.1.2. Restraints
  - 5.1.2.1. Concerns associated with false positives and negatives of genetic tests
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing research and new developments in genetic testing technologies
  - 5.1.3.2. Emergence of genetic testing with telehealth and digital health platforms
- 5.1.4. Challenges
  - 5.1.4.1. Logistical barriers and privacy concerns to genetic testing
5.2. Market Segmentation Analysis
- 5.2.1. Product: Penetration of software and services for efficient data management and analysis
- 5.2.2. Test Type: Emphasis on diagnostic testing to perform a particular disease diagnosis
- 5.2.3. Technology: Increasing shift toward DNA sequencing for precise gene identification and disease diagnosis
- 5.2.4. Application: Rising adoption of genetic testing to detect early signs of cancer
- 5.2.5. Distribution Channel: Deployment of genetic testing products on online platforms
- 5.2.6. End-User: Extensive use of genetic testing solutions in hospitals & clinics for disease diagnosis and treatment planning
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Genetic Testing Market, by Product

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

7. Genetic Testing Market, by Test Type

7.1. Introduction
7.2. Carrier Testing
7.3. Diagnostic Testing
7.4. New Born Screening
7.5. Pharmacogenomics
7.6. Preimplantation Testing
7.7. Prenatal Testing
7.8. Presymptomatic & Predictive Testing

8. Genetic Testing Market, by Technology

8.1. Introduction
8.2. Cytogenetics
8.3. DNA Sequencing
8.4. Gene Expression Profiling
8.5. Microarrays
8.6. PCR

9. Genetic Testing Market, by Application

9.1. Introduction
9.2. Autoimmune Disorders
9.3. Cancer
9.4. Chronic Diseases
9.5. Genetic Disorders
9.6. Neurodegenerative Diseases

10. Genetic Testing Market, by Distribution Channel

10.1. Introduction
10.2. Offline
10.3. Online

11. Genetic Testing Market, by End-User

11.1. Introduction
11.2. Diagnostic Laboratories
11.3. Home Setting
11.4. Hospitals & Clinics

12. Americas Genetic Testing Market

12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States

13. Asia-Pacific Genetic Testing Market

13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam

14. Europe, Middle East & Africa Genetic Testing Market

14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom

15. Competitive Landscape

15.1. Market Share Analysis, 2023
15.2. FPNV Positioning Matrix, 2023
15.3. Competitive Scenario Analysis
- 15.3.1. Sysmex and QIAGEN strengthen alliance to advance genetic testing innovation
- 15.3.2. Labcorp Finalizes Acquisition of Key Invitae Assets in Strategic Expansion
- 15.3.3. Labcorp and Ultima Genomics partnership advances affordable genomic insights for oncology testing
- 15.3.4. MedGenome expands its influence through strategic acquisition in east India's genetic testing landscape
- 15.3.5. Bruker Corporation Expanded Diagnostic Capabilities with EUR 870 Million Acquisition of ELITechGroup SAS, Enhancing Molecular and Microbial Testing
- 15.3.6. Devyser AB Unveiled New Genetic Testing Products to Improve Cancer Risk Analysis
- 15.3.7. Blueprint Genetics Oy Offers Advanced Testing Solutions for Informed Family Planning Decisions
- 15.3.8. Kindbody Unveiled Affordable, High-Quality Genetic Testing Division Kindlabs for Enhanced Pregnancy Success
- 15.3.9. Delve Bio, Inc. Secureed USD 35 Million Funding to Unveil Causes of Neurological Inflammation Through Advanced Pathogen Detection
- 15.3.10. FBI Approved QIAGEN N.V.'s Advanced Forensic DNA Testing Workflow for Use in National Crime Database
- 15.3.11. healthOme, Inc. Acquired Kailos Genetics, Inc., to Enhance Genetic Testing Services for Cancer Risk and Medication Safety
- 15.3.12. BeautyMap Launched DNA-Based Skincare and Haircare Test In India
- 15.3.13. CENTOGENE N.V. and Takeda Pharmaceutical Company Limited Extend Partnership to Enhance Diagnostic Testing for Rare Diseases Globally
- 15.3.14. Invitae Corporation and Epic Systems Corporation Joined Forces to Streamline Genetic Test Results, Enhancing Access for Healthcare Providers
- 15.3.15. Agilent Technologies Inc. Expanded Clinical Research Capabilities with Acquisition of Avida Biomed
15.4. Strategy Analysis & Recommendation
- 15.4.1. Natera, Inc.
- 15.4.2. F. Hoffmann-La Roche AG
- 15.4.3. Thermo Fisher Scientific Inc.
- 15.4.4. Illumina, Inc.

Companies Mentioned

1. Abbott Laboratories
2. Agilent Technologies, Inc.
3. Becton, Dickinson and Company
4. Bio-Rad Laboratories, Inc.
5. Bio-Techne Corporation
6. Bruker Corporation
7. Centogene N.V.
8. Color Health, Inc.
9. CooperSurgical Inc.
10. Editas Medicine, Inc.
11. Eugene Labs Pty Ltd.
12. Eurofins Scientific SE
13. F. Hoffmann-La Roche AG
14. Fulgent Genetics, Inc.
15. Gene by Gene, Ltd.
16. GeneDx, LLC
17. Illumina, Inc.
18. Invitae Corporation
19. Laboratory Corporation of America Holdings
20. Living DNA Ltd.
21. Macrogen, Inc.
22. MyHeritage Ltd.
23. Myriad Genetics, Inc.
24. Natera, Inc.
25. Newtopia Inc.
26. PathogenDx Corporation
27. PerkinElmer Inc.
28. Qiagen N.V.
29. Quest Diagnostics Incorporated
30. Sanofi S.A.
31. Thermo Fisher Scientific Inc.