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Genetic Testing Market By Type, By Technology, By Application: Global Opportunity Analysis and Industry Forecast, 2023-2032

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    Report

  • 428 Pages
  • October 2023
  • Region: Global
  • Allied Market Research
  • ID: 5214897
UP TO OFF until Nov 15th 2024
The Genetic Testing Market was valued for $15,533.53 million in 2022 and is estimated to reach $40,872.42 million by 2032, exhibiting a CAGR of 10.2% from 2023 to 2032. Genetic testing is the study of DNA that identifies gene mutation associated with a variety of genetic disorders. There are various types of genetic testing and several methods such as cytogenetic testing, biochemical testing, molecular testing, and chromosome analysis used to determine changes in a person’s chromosomes, genes, or proteins. The results of a genetic tests confirm or diagnose a suspected genetic condition or help determine a person’s chance of developing or passing on a genetic disorder.

The genetic testing market growth is driven by rise in number of genetic tests and increase in use of technological advancements for diagnosis of diseases. In addition, ongoing advancements in genomic research have led to a better understanding of the genetic basis of diseases and traits. This has expanded the scope of genetic testing for both clinical and non-clinical purposes. Moreover, the increasing awareness of genetic disorders and their impact on health has led to greater demand for genetic testing. Early detection of genetic diseases is crucial for timely intervention and treatment. Thus, this factor is anticipated to boost the growth of market. Moreover, rise in number of genetic testing in developed countries such as the U.S. is expected to fuel the growth of market in the forecast period. For instance, according to National Library of Medicine, as of November 2022, a total of number of genetic tests performed in the U.S. are 129,624. In addition, as per the same source, it was reported that 197,779 genetic tests were performed globally in 2022.

In addition, genetic testing has become integral in the field of oncology. It helps in identifying genetic mutations that drive cancer and guides the selection of targeted therapies. Thus, rise in number of populations suffering from cancer and technological advancement for diagnosis of cancer are expected to boost the growth of market. Moreover, genetic testing is becoming more common in prenatal and neonatal care, aiding in the early detection of genetic abnormalities. Prenatal and neonatal screening allows for the early detection of genetic disorders and congenital conditions. Identifying these conditions in the earliest stages of development enables healthcare providers to take proactive measures to manage and treat them effectively. Thus, this factor is anticipated to fuel the growth of market.

The genetic testing market is segmented into type, technology, application, and region. By type, the market is categorized into predictive & pre-symptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. Based on technology, it is divided into cytogenetic testing, biochemical testing, and molecular testing. Molecular testing is further classified into DNA sequencing and others. As per application, it is segmented into cancer diagnosis, genetic disease diagnosis, and others.

Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Major key players that operate in the global genetic testing market are Abbott Laboratories, Bio-Rad Laboratories, Inc., Myriad Genetics, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Eurofins Scientific, Illumina, Inc., Qiagen N.V., Thermo Fisher Scientific, Inc., and CSL Ltd. Key players operating in the market have adopted product approval, product launch, acquisition and agreement as their key strategies to expand their genetic testing market share.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the genetic testing market analysis from 2022 to 2032 to identify the prevailing genetic testing market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the genetic testing market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global genetic testing market trends, key players, market segments, application areas, and market growth strategies.

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  • Expanded list for Company Profiles
  • Historic market data
  • Market share analysis of players at global/region/country level

Key Market Segments

By Type

  • Carrier Testing
  • Prenatal and Newborn Testing
  • Diagnostic Testing
  • Pharmacogenomic Testing
  • Others
  • Predictive and Presymptomatic Testing

By Technology

  • Cytogenetic testing
  • Biochemical testing
  • Molecular testing

By Application

  • Cancer diagnosis
  • Genetic disease diagnosis
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA
  • Key Market Players
  • Bio-Rad Laboratories, Inc.
  • Myriad Genetics, Inc.
  • F. Hoffmann-La Roche Ltd.
  • Illumina, Inc.
  • Qiagen N.V
  • Luminex Corporation
  • Abbott Laboratories
  • Danaher Corporation
  • Thermo Fisher Scientific, Inc.
  • CSL Limited

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.3. Porter’s five forces analysis
3.4. Market dynamics
CHAPTER 4: GENETIC TESTING MARKET, BY TYPE
4.1. Overview
4.2. Predictive and Presymptomatic Testing
4.3. Carrier Testing
4.4. Prenatal and Newborn Testing
4.5. Diagnostic Testing
4.6. Pharmacogenomic Testing
4.7. Others
CHAPTER 5: GENETIC TESTING MARKET, BY TECHNOLOGY
5.1. Overview
5.2. Cytogenetic testing
5.3. Biochemical testing
5.4. Molecular testing
CHAPTER 6: GENETIC TESTING MARKET, BY APPLICATION
6.1. Overview
6.2. Cancer diagnosis
6.3. Genetic disease diagnosis
6.4. Others
CHAPTER 7: GENETIC TESTING MARKET, BY REGION
7.1. Overview
7.2. North America
7.3. Europe
7.4. Asia-Pacific
7.5. LAMEA
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2022
CHAPTER 9: COMPANY PROFILES
9.1. Abbott Laboratories
9.2. Bio-Rad Laboratories, Inc.
9.3. Myriad Genetics, Inc.
9.4. Danaher Corporation
9.5. F. Hoffmann-La Roche Ltd.
9.6. Illumina, Inc.
9.7. Thermo Fisher Scientific, Inc.
9.8. Qiagen N.V
9.9. CSL Limited
9.10. Luminex Corporation
List of Tables
Table 01. Global Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 02. Genetic Testing Market for Predictive and Presymptomatic Testing, by Region, 2022-2032 ($ Million)
Table 03. Genetic Testing Market for Carrier Testing, by Region, 2022-2032 ($ Million)
Table 04. Genetic Testing Market for Prenatal and Newborn Testing, by Region, 2022-2032 ($ Million)
Table 05. Genetic Testing Market for Diagnostic Testing, by Region, 2022-2032 ($ Million)
Table 06. Genetic Testing Market for Pharmacogenomic Testing, by Region, 2022-2032 ($ Million)
Table 07. Genetic Testing Market for Others, by Region, 2022-2032 ($ Million)
Table 08. Global Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 09. Genetic Testing Market for Cytogenetic Testing, by Region, 2022-2032 ($ Million)
Table 10. Genetic Testing Market for Biochemical Testing, by Region, 2022-2032 ($ Million)
Table 11. Genetic Testing Market for Molecular Testing, by Region, 2022-2032 ($ Million)
Table 12. Global Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 13. Genetic Testing Market for Cancer Diagnosis, by Region, 2022-2032 ($ Million)
Table 14. Genetic Testing Market for Genetic Disease Diagnosis, by Region, 2022-2032 ($ Million)
Table 15. Genetic Testing Market for Others, by Region, 2022-2032 ($ Million)
Table 16. Genetic Testing Market, by Region, 2022-2032 ($ Million)
Table 17. North America Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 18. North America Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 19. North America Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 20. North America Genetic Testing Market, by Country, 2022-2032 ($ Million)
Table 21. U.S. Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 22. U.S. Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 23. U.S. Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 24. Canada Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 25. Canada Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 26. Canada Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 27. Mexico Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 28. Mexico Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 29. Mexico Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 30. Europe Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 31. Europe Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 32. Europe Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 33. Europe Genetic Testing Market, by Country, 2022-2032 ($ Million)
Table 34. Germany Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 35. Germany Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 36. Germany Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 37. France Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 38. France Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 39. France Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 40. UK Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 41. UK Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 42. UK Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 43. Italy Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 44. Italy Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 45. Italy Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 46. Spain Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 47. Spain Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 48. Spain Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 49. Rest of Europe Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 50. Rest of Europe Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 51. Rest of Europe Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 52. Asia-Pacific Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 53. Asia-Pacific Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 54. Asia-Pacific Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 55. Asia-Pacific Genetic Testing Market, by Country, 2022-2032 ($ Million)
Table 56. Japan Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 57. Japan Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 58. Japan Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 59. China Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 60. China Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 61. China Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 62. India Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 63. India Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 64. India Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 65. Australia Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 66. Australia Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 67. Australia Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 68. South Korea Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 69. South Korea Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 70. South Korea Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 71. Rest of Asia-Pacific Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 72. Rest of Asia-Pacific Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 73. Rest of Asia-Pacific Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 74. LAMEA Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 75. LAMEA Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 76. LAMEA Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 77. LAMEA Genetic Testing Market, by Country, 2022-2032 ($ Million)
Table 78. Brazil Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 79. Brazil Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 80. Brazil Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 81. Saudi Arabia Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 82. Saudi Arabia Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 83. Saudi Arabia Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 84. South Africa Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 85. South Africa Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 86. South Africa Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 87. Rest of LAMEA Genetic Testing Market, by Type, 2022-2032 ($ Million)
Table 88. Rest of LAMEA Genetic Testing Market, by Technology, 2022-2032 ($ Million)
Table 89. Rest of LAMEA Genetic Testing Market, by Application, 2022-2032 ($ Million)
Table 90. Abbott Laboratories: Key Executives
Table 91. Abbott Laboratories: Company Snapshot
Table 92. Abbott Laboratories: Product Segments
Table 93. Abbott Laboratories: Product Portfolio
Table 94. Bio-Rad Laboratories, Inc. : Key Executives
Table 95. Bio-Rad Laboratories, Inc. : Company Snapshot
Table 96. Bio-Rad Laboratories, Inc. : Product Segments
Table 97. Bio-Rad Laboratories, Inc. : Product Portfolio
Table 98. Myriad Genetics, Inc.: Key Executives
Table 99. Myriad Genetics, Inc.: Company Snapshot
Table 100. Myriad Genetics, Inc.: Service Segments
Table 101. Myriad Genetics, Inc.: Product Portfolio
Table 102. Myriad Genetics, Inc.: Key Stratergies
Table 103. Danaher Corporation: Key Executives
Table 104. Danaher Corporation: Company Snapshot
Table 105. Danaher Corporation: Product Segments
Table 106. Danaher Corporation: Product Portfolio
Table 107. F. Hoffmann-La Roche Ltd.: Key Executives
Table 108. F. Hoffmann-La Roche Ltd.: Company Snapshot
Table 109. F. Hoffmann-La Roche Ltd.: Product Segments
Table 110. F. Hoffmann-La Roche Ltd.: Product Portfolio
Table 111. Illumina, Inc.: Key Executives
Table 112. Illumina, Inc.: Company Snapshot
Table 113. Illumina, Inc.: Product Segments
Table 114. Illumina, Inc.: Product Portfolio
Table 115. Illumina, Inc.: Key Stratergies
Table 116. Thermo Fisher Scientific, Inc.: Key Executives
Table 117. Thermo Fisher Scientific, Inc.: Company Snapshot
Table 118. Thermo Fisher Scientific, Inc.: Product Segments
Table 119. Thermo Fisher Scientific, Inc.: Product Portfolio
Table 120. Qiagen N.V: Key Executives
Table 121. Qiagen N.V: Company Snapshot
Table 122. Qiagen N.V: Product Segments
Table 123. Qiagen N.V: Product Portfolio
Table 124. Csl Limited: Key Executives
Table 125. Csl Limited: Company Snapshot
Table 126. Csl Limited: Product Segments
Table 127. Csl Limited: Product Portfolio
Table 128. Luminex Corporation: Key Executives
Table 129. Luminex Corporation: Company Snapshot
Table 130. Luminex Corporation: Product Segments
Table 131. Luminex Corporation: Product Portfolio
List of Figures
Figure 01. Genetic Testing Market, 2022-2032
Figure 02. Segmentation of Genetic Testing Market, 2022-2032
Figure 03. Top Impacting Factors in Genetic Testing Market (2022 to 2032)
Figure 04. Top Investment Pockets in Genetic Testing Market (2023-2032)
Figure 05. Low Bargaining Power of Suppliers
Figure 06. Low Threat of New Entrants
Figure 07. Low Threat of Substitutes
Figure 08. Low Intensity of Rivalry
Figure 09. Low Bargaining Power of Buyers
Figure 10. Global Genetic Testing Market: Drivers, Restraints and Opportunities
Figure 11. Genetic Testing Market, by Type, 2022 and 2032 (%)
Figure 12. Comparative Share Analysis of Genetic Testing Market for Predictive and Presymptomatic Testing, by Country 2022 and 2032 (%)
Figure 13. Comparative Share Analysis of Genetic Testing Market for Carrier Testing, by Country 2022 and 2032 (%)
Figure 14. Comparative Share Analysis of Genetic Testing Market for Prenatal and Newborn Testing, by Country 2022 and 2032 (%)
Figure 15. Comparative Share Analysis of Genetic Testing Market for Diagnostic Testing, by Country 2022 and 2032 (%)
Figure 16. Comparative Share Analysis of Genetic Testing Market for Pharmacogenomic Testing, by Country 2022 and 2032 (%)
Figure 17. Comparative Share Analysis of Genetic Testing Market for Others, by Country 2022 and 2032 (%)
Figure 18. Genetic Testing Market, by Technology, 2022 and 2032 (%)
Figure 19. Comparative Share Analysis of Genetic Testing Market for Cytogenetic Testing, by Country 2022 and 2032 (%)
Figure 20. Comparative Share Analysis of Genetic Testing Market for Biochemical Testing, by Country 2022 and 2032 (%)
Figure 21. Comparative Share Analysis of Genetic Testing Market for Molecular Testing, by Country 2022 and 2032 (%)
Figure 22. Genetic Testing Market, by Application, 2022 and 2032 (%)
Figure 23. Comparative Share Analysis of Genetic Testing Market for Cancer Diagnosis, by Country 2022 and 2032 (%)
Figure 24. Comparative Share Analysis of Genetic Testing Market for Genetic Disease Diagnosis, by Country 2022 and 2032 (%)
Figure 25. Comparative Share Analysis of Genetic Testing Market for Others, by Country 2022 and 2032 (%)
Figure 26. Genetic Testing Market by Region, 2022 and 2032 (%)
Figure 27. U.S. Genetic Testing Market, 2022-2032 ($ Million)
Figure 28. Canada Genetic Testing Market, 2022-2032 ($ Million)
Figure 29. Mexico Genetic Testing Market, 2022-2032 ($ Million)
Figure 30. Germany Genetic Testing Market, 2022-2032 ($ Million)
Figure 31. France Genetic Testing Market, 2022-2032 ($ Million)
Figure 32. UK Genetic Testing Market, 2022-2032 ($ Million)
Figure 33. Italy Genetic Testing Market, 2022-2032 ($ Million)
Figure 34. Spain Genetic Testing Market, 2022-2032 ($ Million)
Figure 35. Rest of Europe Genetic Testing Market, 2022-2032 ($ Million)
Figure 36. Japan Genetic Testing Market, 2022-2032 ($ Million)
Figure 37. China Genetic Testing Market, 2022-2032 ($ Million)
Figure 38. India Genetic Testing Market, 2022-2032 ($ Million)
Figure 39. Australia Genetic Testing Market, 2022-2032 ($ Million)
Figure 40. South Korea Genetic Testing Market, 2022-2032 ($ Million)
Figure 41. Rest of Asia-Pacific Genetic Testing Market, 2022-2032 ($ Million)
Figure 42. Brazil Genetic Testing Market, 2022-2032 ($ Million)
Figure 43. Saudi Arabia Genetic Testing Market, 2022-2032 ($ Million)
Figure 44. South Africa Genetic Testing Market, 2022-2032 ($ Million)
Figure 45. Rest of LAMEA Genetic Testing Market, 2022-2032 ($ Million)
Figure 46. Product Mapping of Top 10 Players
Figure 47. Competitive Dashboard
Figure 48. Competitive Heatmap: Genetic Testing Market
Figure 49. Top Player Positioning, 2022
Figure 50. Abbott Laboratories: Net Sales, 2020-2022 ($ Million)
Figure 51. Abbott Laboratories: Revenue Share by Segment, 2022 (%)
Figure 52. Abbott Laboratories: Revenue Share by Region, 2022 (%)
Figure 53. Bio-Rad Laboratories, Inc. : Net Sales, 2020-2022 ($ Million)
Figure 54. Bio-Rad Laboratories, Inc. : Revenue Share by Segment, 2022 (%)
Figure 55. Bio-Rad Laboratories, Inc. : Revenue Share by Region, 2022 (%)
Figure 56. Myriad Genetics, Inc.: Net Revenue, 2019-2021 ($ Million)
Figure 57. Myriad Genetics, Inc.: Revenue Share by Region, 2021 (%)
Figure 58. Danaher Corporation: Net Sales, 2020-2022 ($ Million)
Figure 59. Danaher Corporation: Revenue Share by Segment, 2022 (%)
Figure 60. Danaher Corporation: Revenue Share by Region, 2022 (%)
Figure 61. F. Hoffmann-La Roche Ltd.: Sales Revenue, 2020-2022 ($ Million)
Figure 62. F. Hoffmann-La Roche Ltd.: Revenue Share by Segment, 2022 (%)
Figure 63. Illumina, Inc.: Net Revenue, 2020-2022 ($ Million)
Figure 64. Illumina, Inc.: Revenue Share by Segment, 2022 (%)
Figure 65. Illumina, Inc.: Revenue Share by Region, 2022 (%)
Figure 66. Thermo Fisher Scientific, Inc.: Net Revenue, 2019-2021 ($ Million)
Figure 67. Thermo Fisher Scientific, Inc.: Revenue Share by Segment, 2021 (%)
Figure 68. Thermo Fisher Scientific, Inc.: Revenue Share by Region, 2021 (%)
Figure 69. Qiagen N.V: Net Revenue, 2020-2022 ($ Million)
Figure 70. Qiagen N.V: Revenue Share by Region, 2022 (%)
Figure 71. Csl Limited: Sales Revenue, 2020-2022 ($ Million)
Figure 72. Csl Limited: Revenue Share by Segment, 2022 (%)
Figure 73. Csl Limited: Revenue Share by Region, 2022 (%)

Executive Summary

According to the report, the genetic testing market was valued at $15.5 billion in 2022, and is estimated to reach $40.9 billion by 2032, growing at a CAGR of 10.2% from 2023 to 2032.

Genetic testing involves examining the deoxyribonucleic acid (DNA), the chemical database that carries instructions for the body's functions. Genetic testing can reveal changes (mutations) in the genes that may cause illness or disease. The different types of genetic tests include predictive & pre-symptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. The technologies used in genetic testing are cytogenetic testing, biochemical testing, and molecular testing. Molecular testing is further classified into DNA sequencing and others. The application of genetic testing includes cancer diagnosis, genetic disease diagnosis, and others.

Key factors driving the growth of the genetic testing market include rise in prevalence of genetic diseases, increase in prevalence of cancer and rise in number of population suffering from cardiovascular diseases, neurological diseases and others is anticipated to boost the growth of market. In addition, rise in number of adoptions of key strategies such as business expansion, partnership, and others by market players who manufacture genetic testing products boost the growth of market. For instance, in January 2023, Illumina Inc., a global leader in DNA sequencing and array-based technologies, and Nashville Biosciences LLC, a wholly owned subsidiary of Vanderbilt University Medical Center (VUMC), announced an agreement with Amgen, a global biopharmaceutical company, to whole-genome sequence approximately 35,000 DNA samples. The sample cohort is primarily made up of DNA from African Americans, who are currently underrepresented in research for the clinical applications of genomics, including drug target discovery. This cohort will be the largest data set of genomes of its kind to date.

In addition, in November 2022, Myriad Genetics, Inc., a leader in genetic testing and precision medicine, announced that it has acquired Gateway Genomics, LLC, a personal genomics company and developer of consumer genetic tests including the No. 1 selling SneakPeek Early Gender DNA Test. SneakPeek reveals a baby’s gender at six weeks into pregnancy, the only at-home test to do so with 99% accuracy and the earliest method available.

Moreover, genetic tests such as carrier tests for inherited disorders such as cystic fibrosis, sickle cell anemia, and other diseases can decipher information about a couple’s risk of having a child with a genetic disorder. Rise in awareness regarding the importance of an early disease detection and prevention and surge in demand for personalized medicine are anticipated to boost the market growth. In addition, growth in awareness regarding the transfer of genetic diseases is being witnessed in the healthcare industry. In response to this, medical professionals have become more observant to detect and prevent these diseases at their early stages.

The genetic testing market is segmented into type, technology, application, and region. By type, the market is categorized into predictive & pre-symptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. Based on technology, it is divided into cytogenetic testing, biochemical testing, and molecular testing. Molecular testing is further classified into DNA sequencing and others. As per application, it is segmented into cancer diagnosis, genetic disease diagnosis, and others.

Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

The key players profiled in the Abbott Laboratories, Bio-Rad Laboratories, Inc., Myriad Genetics, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Eurofins Scientific, Illumina, Inc., Qiagen N.V., thermo Fisher Scientific, Inc., and CSL Ltd. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch and expansion to remain competitive and gain advantage over the competitors in the market. For instance, in March 2022, Myriad Genetics, Inc., a leader in genetic testing and precision medicine, announced the U.S. Food and Drug Administration (FDA) has approved Myriad's BRACAnalysis CDx test for use as a companion diagnostic to identify patients with germline BRCA-mutated (gRBCAm) HER2 negative, high-risk early-stage breast cancer who may benefit from Lynparza(olaparib).

Moreover, in August 2022, Myriad Genetics, Inc., a leader in genetic testing and precision medicine, announced Japan's Ministry of Health, Labour and Welfare (MHLW) has granted expanded coverage for the use of Myriad's BRACAnalysis diagnostic system as a companion diagnostic to identify patients with germline BRCA-mutated (gBRCAm) and HER2-negative high-risk recurrent breast cancer.

Key Market Insights

By type, prenatal and newborn testing segment was the highest revenue contributor to the market and is estimated to reach $12.28 billion by 2032, with a CAGR of 9.7%.

By technology, molecular testing dominated the global market. However cytogenetic testing segment is expected to be the fastest-growing segment with a CAGR of 10.8% during the forecast period.

By application, the genetic disease diagnosis segment dominated the global market. However, the cancer diagnosis segment is expected to be the fastest-growing segment with a CAGR of 10.6% during the forecast period.

Companies Mentioned

  • Bio-Rad Laboratories, Inc.
  • Myriad Genetics, Inc.
  • F. Hoffmann-La Roche Ltd.
  • Illumina, Inc.
  • Qiagen N.V
  • Luminex Corporation
  • Abbott Laboratories
  • Danaher Corporation
  • Thermo Fisher Scientific, Inc.
  • CSL Limited

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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