Genetic Testing Global Market Report 2024

The genetic testing market size has grown rapidly in recent years. It will grow from $17.33 billion in 2023 to $19.45 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The expansion observed in the historical period can be attributed to increasing healthcare expenditure, a rise in cancer prevalence, an increase in demand for personalized medicine, and the emergence of novel infectious diseases.

The genetic testing market size is expected to see rapid growth in the next few years. It will grow to $29.35 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The anticipated growth in the forecast period can be attributed to increasing government support, the rising prevalence of genetic disorders, a growing geriatric population, and an increase in the prevalence of chronic diseases. Key trends expected in the forecast period encompass introducing new programs such as genetic counseling and informatics programs that will assist in developing the next generation of genetic testing, technological advancement, and launching direct-to-consumer genetic tests.

The anticipated increase in the prevalence of genetic disorders is poised to drive the growth of the genetic testing market. Genetic disorders encompass diseases that manifest symptoms at birth or develop over time. Genetic testing aids in diagnosing genetic issues and provides information regarding the likelihood of developing conditions such as cancer. For example, data from the National Center for Biotechnology Information in November 2021 revealed genetic illnesses in 9.4% of pediatric patients, with 44.7% critically ill newborns. Moreover, 13.17 million individuals in the US were identified as suffering from unique genetic disorders. Thus, the rising prevalence of genetic disorders is a significant factor propelling the genetic testing market.

The escalating number of chronic diseases is expected to further drive the growth of the genetic testing market. Chronic diseases, characterized by prolonged durations often lasting a person's lifetime, necessitate informed decisions for disease prevention, management, and treatment. Genetic testing plays a crucial role in empowering individuals and healthcare providers to make such informed decisions, particularly in the context of chronic diseases. Globally, chronic diseases account for 74% of 41 million annual deaths, with cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes being major contributors, according to the World Health Organization in September 2023. Hence, the increasing prevalence of chronic diseases is a key driver of the genetic testing market.

A prominent trend gaining momentum in the genetic testing market is the rise of direct-to-consumer genetic tests. These at-home DNA tests enable consumers to collect samples at home, sending them off to determine their genetic risk for specific diseases. DNALabs, an India-based company, introduced At-Home Genetic Testing Solutions in 2022, providing consumers with a convenient way to access genetic testing and make informed decisions about their health. The at-home DNA collection kit allows individuals to take control of their health or enables healthcare professionals to customize treatment plans for patients.

The introduction of new programs is another significant trend in the genetic testing market. Companies are focusing on expanding diversity in healthcare through genetic counseling and informatics programs, contributing to the evolution of genetic testing. Illumina, Inc., a USA-based company, launched a research test co-developed with Merck in June 2022, aiming to provide deeper insights into the tumor genome. This initiative underscores Illumina's commitment to genomic profiling and precision medicine in oncology.


In January 2022, Exact Sciences, a US-based molecular diagnostics company, acquired Prevention Genetics for $190 million. This strategic move aims to enhance hereditary cancer testing accessibility for a broader patient population.

Major companies operating in the genetic testing market report are Myriad Genetics Inc., Illumina Inc., Abbott Laboratories, Eurofins Scientific, Danaher Corporation, F. Hoffmann-La Roche Ltd., Quest Diagnostics Incorporated, Qiagen NV, Thermo Fisher Scientific Inc., BioRad Laboratories Inc., BGI, Berry Genomics Co. Ltd., Daan Gene Co. Ltd., Annoroad Gene Technology Co. Ltd., WuXi PharmaTech, Igenomix, Circle DNA, Centogene, Curetis, apceth Biopharma, Cytena, Probably Genetic, Genome Biologics, WuXi NextCODE, Genomtec, Testgene, Evogen Lab, Phosphorus, Helix, Sequencing, 10x Genomics, Quantgene, Virica Biotech, DNALabs, Deep Genomics, SGS Mexico, Hologic Inc., 23andMe Inc., Middle East Testing Services L.L.C, Molecular Biology & Genetics Laboratory, Freiburg Medical Laboratory Middle East, IVI MIDDLE EAST FERTILITY CLINIC, Bio Certica, Biovac, BixBio, Cape Bio Pharms, De Novo Dairy.

North America was the largest region in the genetic testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genetic testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the genetic testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The main types of genetic testing include predictive testing, carrier testing, prenatal and newborn testing, diagnostic testing, pharmacogenomic testing, nutrigenomic testing, and other types. Predictive tests belong to a new and rapidly expanding class of medical tests that differ fundamentally from traditional diagnostic examinations. Various technologies are involved in genetic testing, such as cytogenetic testing, biochemical testing, and molecular testing. It is applied in several areas, including cancer diagnosis, genetic disease diagnosis, cardiovascular disease diagnosis, and others, with end users including hospitals and clinics, diagnostic laboratories and centers, and others.

The genetic testing market research report is one of a series of new reports that provides genetic testing market statistics, including global market size, regional shares, competitors with a genetic testing market share, detailed genetic testing market segments, market trends and opportunities, and any further data you may need to thrive in the genetic testing industry. This genetic testing 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 genetic testing market includes revenues earned by entities by chromosomal genetic tests, molecular genetic tests (or gene tests), biochemical tests, newborn screening, and diagnostic testing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

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.


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