PUBLISHER: The Business Research Company | PRODUCT CODE: 1500043
PUBLISHER: The Business Research Company | PRODUCT CODE: 1500043
DNA diagnostics involves utilizing genetic testing techniques to examine DNA, RNA, and proteins for medical, forensic, or research purposes. These tests offer valuable insights into genetic predispositions, disease susceptibility, and ancestry, thereby revolutionizing the fields of medicine and genetics and providing effective tools for health management.
DNA diagnostic products encompass instruments, reagents, software, and services. Instruments are specialized equipment used for DNA sample analysis, employing technologies such as polymerase chain reaction, microarray, in-situ hybridization, sequencing, and mass spectrometry. These technologies find applications in diverse areas including oncology, infectious disease treatment, myogenic disorder treatment, clinical diagnostics, prenatal and pre-implantation testing. End users of DNA diagnostic products include point-of-care facilities, diagnostic centers, and individuals seeking self-testing or over-the-counter solutions.
The DNA diagnostics market research report is one of a series of new reports from The Business Research Company that provides DNA diagnostics market statistics, including DNA diagnostics industry global market size, regional shares, competitors with a DNA diagnostics market share, detailed DNA diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the DNA diagnostics industry. This DNA diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The DNA diagnostics market size has grown rapidly in recent years. It will grow from $20.90 billion in 2023 to $23.10 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The expansion observed in the historical period can be ascribed to heightened demand for personalized medicine, greater incorporation of genetic testing and molecular diagnostics into clinical settings, a surge in biomedical research activities, a rise in the number of cancer patients, and an increasing reliance on diagnostic tests.
The DNA diagnostics market size is expected to see rapid growth in the next few years. It will grow to $34.90 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The anticipated growth in the forecast period can be credited to several factors, including the rising incidence of cancers, escalating demand for standardized diagnostic tests, a growing prevalence of genetic disorders, heightened attention towards biomarker discovery, rare diseases, and orphan drugs, as well as the expansion of telemedicine and remote testing. Key trends expected in this period comprise the integration of microbiome analysis, utilization of blockchain technology, incorporation of multiple omics data, adoption of non-invasive testing methods, integration of multi-omics approaches, the advancement of portable and point-of-care DNA diagnostic devices, and the proliferation of next-generation sequencing (NGS) technologies.
The increasing incidence of genetic disorders is poised to drive the expansion of the DNA diagnostics market in the foreseeable future. Genetic disorders, characterized by health issues stemming from abnormalities in the genome, are on the rise due to several factors including enhanced diagnostic capabilities, broader genetic testing availability, environmental influences, and consanguinity within populations. These factors collectively contribute to a heightened awareness and identification of genetic disorders. DNA diagnostics plays a crucial role in precisely identifying genetic disorders through the analysis of genetic material, facilitating early diagnosis, tailored treatment approaches, and informed family planning decisions. For example, according to the World Health Organization (WHO) in February 2023, congenital diseases are responsible for approximately 240,000 neonatal deaths worldwide annually, with an additional 170,000 deaths occurring in children aged between 1 month and 5 years. Consequently, the escalating prevalence of genetic disorders serves as a key driver for the growth of the DNA diagnostics market.
Leading players in the DNA diagnostics sector are directing their efforts towards the development of innovative products, including liquid biopsy tests, designed to detect various types of cancer in their early stages. Liquid biopsy tests represent a minimally invasive diagnostic approach that identifies and analyzes biomarkers, such as circulating tumor cells (CTCs), cell-free DNA (cfDNA), or exosomes, present in the bloodstream and originating from tumors or other cells. For instance, in May 2023, Laboratory Corporation, a prominent US-based healthcare diagnostics company, introduced a novel liquid biopsy test named LabCorp Plasma Focus. This test is designed to identify targeted therapies for patients diagnosed with advanced or metastatic solid tumors. Leveraging genetic sequencing technology, LabCorp Plasma Focus evaluates circulating cell-free DNA (cfDNA) released by tumor cells, enabling oncologists to personalize treatment strategies and enhance patient care through targeted therapy plans.
In November 2022, Myriad Genetics Inc., a leading US-based company specializing in genetic testing and personalized medicine, acquired Gateway Genomics for approximately $67.5 million. This acquisition broadens Myriad's portfolio in women's health and oncology testing, offering patients more comprehensive and personalized genetic testing solutions. Gateway Genomics LLC, the acquired company, specializes in developing prenatal and pediatric genomic tests, aligning with Myriad's commitment to expanding its presence and capabilities in key segments of genetic diagnostics.
Major companies operating in the DNA diagnostics market are F. Hoffmann-La Roche Ltd, Bayer AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Becton, Dickinson and Company, Laboratory Corporation, Quest Diagnostics Incorporated, Eurofins Scientific SE, Agilent Technologies, Illumina Inc, PerkinElmer Inc, bioMerieux SA, Beckman Coulter Inc, Sysmex Corporation, Bio-Rad Laboratories Inc, QIAGEN N.V., Natera Inc, Myriad Genetics Inc., BGI Genomics Co. Ltd., Cepheid, NeoGenomics Laboratories Inc, 23andMe Holding Co, Ambry Genetics Corporation, Biocartis SA, CENTOGENE N.V., Veritas Genetics
North America was the largest region in the DNA diagnostics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the DNA diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the DNA diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The DNA diagnostics market consists of revenues earned by entities by providing services such as ancestry testing, paternity or maternity testing, genetic health risk assessment, carrier testing, pharmacogenetic testing, forensic DNA analysis, and genetic counseling. The market value includes the value of related goods sold by the service provider or included within the service offering. The DNA diagnostics market also includes sales of DNA extraction kits, thermal cyclers or polymerase chain reaction machines, DNA sequencers, gel electrophoresis systems, DNA microarrays, automated liquid handling systems, and DNA storage and preservation kits. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
DNA Diagnostics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on DNA diagnostics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for DNA diagnostics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The DNA diagnostics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.