The global market for Genetic Testing is estimated at US$13.7 Billion in 2023 and is projected to reach US$26.4 Billion by 2030, growing at a CAGR of 9.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the genetic testing market is driven by several factors, including the increasing prevalence of genetic disorders, technological advancements in genetics, and a growing awareness of the benefits of early disease detection and prevention. The expansion of direct-to-consumer genetic testing kits has also significantly contributed to market growth, as more individuals take proactive steps towards understanding their genetic health.
Additionally, healthcare systems are increasingly adopting personalized medicine practices, which rely heavily on genetic insights to craft individualized treatment plans. Moreover, ongoing research and development activities, supported by funding from governments and private entities, are continually uncovering new applications for genetic testing, further broadening the market's scope.
The growth in the genetic testing market is driven by several factors, including the increasing prevalence of genetic disorders, technological advancements in genetics, and a growing awareness of the benefits of early disease detection and prevention. The expansion of direct-to-consumer genetic testing kits has also significantly contributed to market growth, as more individuals take proactive steps towards understanding their genetic health.
Additionally, healthcare systems are increasingly adopting personalized medicine practices, which rely heavily on genetic insights to craft individualized treatment plans. Moreover, ongoing research and development activities, supported by funding from governments and private entities, are continually uncovering new applications for genetic testing, further broadening the market's scope.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Prenatal & Newborn Genetic Testing segment, which is expected to reach US$8.9 Billion by 2030 with a CAGR of a 10.0%. The Diagnostic Genetic Testing segment is also set to grow at 9.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $5.5 Billion in 2023, and China, forecasted to grow at an impressive 11.9% CAGR to reach $2.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Genetic Testing Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Genetic Testing Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Genetic Testing Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Agilent Technologies, Inc., Asuragen, Inc., Biocartis NV, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
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 SUMMARY2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERSIII. MARKET ANALYSISITALYREST OF EUROPEIV. COMPETITION
1. MARKET OVERVIEW
SEGMENT ANALYSIS
MARKET TRENDS AND GROWTH DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- 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 Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 573 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 13.7 Billion |
| Forecasted Market Value ( USD | $ 26.4 Billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
