Europe Genetic Testing Services Market Forecast to 2030 - Regional Analysis - by Service Type, Disease, and Service Provider

The Europe genetic testing services market was valued at US$ 931.11 million in 2022 and is expected to reach US$ 2.77 billion by 2030; it is estimated to register a CAGR of 14.6% from 2022 to 2030.

Increasing Awareness and Acceptance of Personalized Medicines Drive Europe Genetic Testing Services Market

Personalized medicine is the field that utilizes patients' genetic and environmental data to deliver optimal healthcare. It is based on the principle that every patient is unique and requires individualistic pharmacological treatment. Since it is a rapidly evolving area, it is presently incorporated into several healthcare systems. The successful completion of the Human Genome Project (HGP) in 2003 and the fast-decreasing human genome sequencing costs encouraged the development of a new medical approach, which is called personalized medicine.

With an expanding repository of personalized data at the molecular level, molecular diagnostics companies are exceptionally positioned to unlock value. Large-scale drug discovery is a key to increasing the viability and usefulness of personalized medicines for the diagnosis of diseases and disorders. Genomics is one of the fastest-growing divisions of medical science. It is driving a paradigm shift in the research methodology of a disease, as well as diagnosing and treating illness. Genetic testing has been extensively used in pharmacogenomics, also known as drug-gene testing. It helps in accelerating drug discovery and its development.

France also developed a national plan for personalized medicine known as "Genomic Medicine France 2025." The program was presented to Prime Minister Manuel Valls by Yves Lévy, President of the National Alliance for Life and Health Sciences - Aviesan and CEO of Inserm, in June 2016. It appeals to healthcare and manufacturing firms to pilot genomic sequencing platforms. The plan was supported by the government and launched with a public financing of US$ 760.8 million (€670 million) in 2020 for genomics and personalized medicine programs. It is expected to place France as a leader among countries involved in genomic medicine within the next ten years. In January 2023, The Human Genome Project is ensuring an era of personalized healthcare.

Now, new research shows that precision prescribing using genetic testing has ultimately reached a global tipping point for adoption. Published by Cambridge University Press, the peer-reviewed research examines the maturation of critical factors required for the use of clinical genetics at scale. These advancements pave the way for supporting genome-informed clinical decision-making to be established as the new standard of care. Genetically informed prescribing offers one of the realistic mechanisms to successfully reduce the overall costs of the healthcare system and improve individual patient care. Genetic testing encourages the adoption of a personalized medicine approach by understanding the science behind the disease, the impact of treatment, and the development of therapies for specific individual characteristics. It also helps healthcare personnel make informed decisions about disease diagnosis, treatment, and prevention by utilizing genetic testing results, leading to improved patient outcomes.

Europe Genetic Testing Services Market Overview

European genetic testing services market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Genetic testing has been growing at an exceptional rate; a large panel of tests are now offered to screen a number of genetic diseases. Treatments are available for a number of rare genetic diseases, and the process is gaining importance in scenarios such as carrier testing, newborn screening, and predictive and pre-symptomatic testing, among others. Moreover, European countries have undertaken a number of initiatives to increase awareness among people about the benefits of genetic testing. The ultimate goal is to ensure that all aspects of genetic testing are of high quality, thereby providing accurate and reliable results for the benefit of the patients.

Europe Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Million)

Europe Genetic Testing Services Market Segmentation

The Europe genetic testing services market is categorized into service type, disease, service provider, and country.

Based on service type, the Europe genetic testing services market is segmented predictive testing, carrier testing, prenatal testing, newborn screening, and others. The predictive testing segment held the largest market share in 2022.

In terms of disease, the Europe genetic testing services market is categorized into cancer, metabolic diseases, cardiovascular diseases, and other diseases. The cancer segment held the largest market share in 2022.

By service provider, the Europe genetic testing services market is segmented into hospital-based laboratories, diagnostic laboratories, and others. The hospital-based laboratories segment held the largest market share in 2022.

By country, the Europe genetic testing services market is segmented into the UK, Germany, France, Spain, Italy, and the Rest of Europe. Germany dominated the Europe genetic testing services market share in 2022.

Eurofins Scientific SE, Exact Sciences Corp, Laboratory Corp of America Holdings, 23andMe Holding Co, Quest Diagnostics Inc, Illumina Inc, F. Hoffmann-La Roche Ltd, NeoGenomics Inc, and Centogene AG are among the leading companies operating in the Europe genetic testing services market.

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