Global Genetic Testing Market is expected to grow with the CAGR of 15.3% in the forecast period of 2022 to 2029. The years considered for study are as mentioned below.

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Global genetic testing market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario.    

The major players dealing in global genetic testing market are introducing strong range of products provider along with launching new products and adopting strategic initiative such as acquisition, agreement into the market. This helped companies to maximize the sales with enhanced product portfolio.

For instance

• In 2022, Illumina, Inc. received approval for emergency use authorization for the Illumina COVIDSeq Test which is a high-throughput, sequencing based IVD workflow indicated for the detection of SaRS-CoV-2. The test launched provides results within 24 hours using nasopharyngeal and oropharyngeal swab. The test launched boosted the company’s existing product portfolio and leveraged the company’s growth.

Illumina, Inc. is the dominating player in global genetic testing market. The other key players existing in the market includes Thermo Fisher Scientific Inc., Invitae Corporation, Bio-Rad Laboratories, Inc., PerkinElmer Inc., QIAGEN, F. Hoffmann-La Roche Ltd., Fulgent Genetics, Myriad Genetics, Inc., Abbott, Eurofins Scientific, Sorenson Genomics, BIO-HELIX, Biocartis, Cepheid ( A subsidiary of Danaher), PacBio, ELITechGroup, Genes2Me, Eugene Labs, Otogenetics, Mapmygenome, MedGenome, BioReference, Sema4 OpCo, Inc., Natera, Inc. among others.

Illumina, Inc.

Illumina, Inc. headquartered in San Diego, U.S. was founded in the year 1998. The company is a leading developer, manufacturer, and marketer of life science tools and integrated systems for large-scale analysis of genetic variation and function. The company is providing products via various product categories such as Instruments, Kits & Reagents, Selection Tools, Software and Analysis, Service, all of which are market focused categories. The company is engaged in continuous development of genetic testing.

For instance,

• In April 2022, Illumina, Inc. signed an agreement with Germany's Hannover Medical School (Medizinische Hochschule Hannover (MHH)) for implementation of the use of whole genome sequencing in critically ill children which are suspected to have a rare or genetic disease. This agreement has positively impacted the earlier diagnosis and treatment for hospitalized children.

The company has wide presence across North America, Europe, Asia-Pacific, South America, Middle East and Africa. The company has various subsidiaries including Advanced Liquid Logic Inc. (Delaware), Edico Genome Corp. (Delaware), BlueBee Belgium BVBA (Belgium), BlueBee Holding BV (Netherlands), BlueGnome, Ltd. (United Kingdom) among others.

Cepheid (A subsidiary of Danaher)

Cepheid (A subsidiary of Danaher) was founded in 1996. The company focuses on providing the best molecular diagnostic testing to improve care with faster and more accurate solutions. The company is providing products via several product categories including Healthcare Associated Infections, Critical Infectious Diseases, Sexual Health, Virology, Oncology/Genetics. The market focus products lie under Oncology/Genetics product category. The company focuses on providing the best molecular diagnostic testing to improve care with faster and more accurate solutions. For instance,

• In October 2021, Cepheid (A subsidiary of Danaher) received CE mark for COVID-19/Flu/RSV diagnostic test. The test approved works on Cepheid’s GeneXpert Systems and provides result within 36 minutes. This approval enhanced the company’s existing product portfolio and allowed it to strengthen its footprint in global market.

The company has wide presence across Americas, Europe, and Asia-Pacific.

Fulgent Genetics

Fulgent Genetics headquartered in California, U.S. was incorporated in 2011. The company is focused on development of flexible and affordable genetic testing which improves the everyday lives of patients and physicians. The company is engaged in providing products via several product categories including Genes & Panels, Known Mutation, Genomic Testing, Hereditary Cancer, Carrier Screening, Tumour Profiling, Sequencing Service, all of which are market focused categories.

For instance-

• In May 2022, Fulgent Genetics announced the opening of its new state-of-the-art oncology laboratory in El Monte, California. This new CLIA-certified lab enabled the Fulgent to expand its capabilities in somatic molecular diagnostics and cancer testing and more efficiently serve oncology clients on the West Coast of the United States. This acquisition helped to generate more revenue and to achieve an accelerated market growth.

The company has wide presence across North America. The company has two subsidiaries including Fulgent LLC (U.S.), Fulgent Therapeutics LLC (U.S.).