Global Genetic Testing Market, By Type (Carrier Testing, Diagnostic Testing, New Born Screening, Predictive and Presymptomatic Testing, and Other Types), Technology (DNA Sequencing (NGS-Based Testing), Polymerase Chain Reaction, Microarrays, Whole Genome Sequencing, Fluorescence In Situ Hybridization (FISH), and Others), Diseases (Rare Genetic Disorder, Cancer, Cystic Fibrosis, Sickle Cell Anemia, Duchenne Muscular Dystrophy, Thalassemia, Huntington’s Disease, Fragile X Syndrome, and Other) End User (Hospitals, Clinics, Diagnostic Centers, Private Clinics, Laboratory Service Providers, and Private Laboratories) - Industry Trends and Forecast to 2031.
Genetic Testing Market Analysis and Size
The rising prevalence of genetic disorders and increasing disposable income have accelerated the demand for genetic testing in healthcare facilities. The surge in innovations and technologies is also propelling the growth of the market. The global genetic testing market is growing in the forecast year due to the rising players in the market and the availability of advanced testing technologies and products. Along with this, manufacturers are engaged in R&D activity for launching novel products in the market.
The market is growing in the forecast year due to the rise in market players and the availability of various genetic testing brands in the market. Along with this, manufacturers are engaged in producing different products in the market. The increasing government funding in the healthcare sector is further boosting the market growth. However, no cure and high cost of treatment may hamper the growth of the genetic testing market in the forecast period.
Data Bridge Market Research analyzes that the global genetic testing market is expected to reach USD 62,607,580.19 thousand by 2031, at a CAGR of 16.5% during the forecast period 2024-2031.
Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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By Type (Carrier Testing, Diagnostic Testing, New Born Screening, Predictive and Presymptomatic Testing, and Other Types), Technology (DNA Sequencing (NGS-Based Testing), Polymerase Chain Reaction, Microarrays, Whole Genome Sequencing, Fluorescence In Situ Hybridization (FISH), and Others), Diseases (Rare Genetic Disorder, Cancer, Cystic Fibrosis, Sickle Cell Anemia, Duchenne Muscular Dystrophy, Thalassemia, Huntington’s Disease, Fragile X Syndrome, and Other) End User (Hospitals, Clinics, Diagnostic Centers, Private Clinics, Laboratory Service Providers, and Private Laboratories)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K. Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Thermo Fisher Scientific Inc., Invitae Corporation, Bio-Rad Laboratories, Inc., PerkinElmer Inc., Illumina, 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, and Natera, Inc. among others
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Global Genetic Testing Market Definition
Genetic testing is a kind of medical test that identifies changes in genes, chromosomes, or proteins. The outcome of a genetic test can confirm or rule out a suspected genetic condition or aid in determining a person’s chance of developing or passing on a genetic disorder. Over 77,000 genetic tests are currently in use, and others are being developed. The increasing innovations and technologies and rising number of players in the market, and novel product launches are also propelling the growth of the global genetic testing market.
Global Genetic Testing Market Dynamics
Drivers
- Growing Prevalence of Genetic Disorders
Genetic disorders may cause such severe health problems that they are incompatible with life. In most severe cases, these conditions may cause a miscarriage of an affected embryo or fetus. The rising prevalence of genetic diseases and birth defects boosts the demand for genetic testing.
- Increase in the Adoption of Next Generation Sequencing
Genomics-focused pharmacology continues to play a greater role in the treatment of various chronic diseases, especially cancer, next-generation sequencing (NGS) is evolving as a powerful tool for providing a deeper and more precise insight into the molecular foundations of individual tumours and specific receptors.
NGS offers advantages in accuracy, sensitivity, and speed compared to traditional methods that have the potential to make a significant impact on the field of oncology. The need to order multiple tests to identify the causative mutation is eliminated because NGS can assess multiple genes in a single assay. Next-generation sequencing has the power to transform oncology’s outlook and push forward the vision of precision medicine by the adoption of genome-focused pharmacology for the treatment of genetic diseases. Thus, the increase in the adoption of genome-focused pharmacology for genetic disease treatment is propelling the market growth.
Opportunity
- Strategic Initiatives by the Key Market Player
The demand for next generation sequencing is increasing in the market due to the increased incidence of cancer of various aetiologies’ along with the increased geriatric population across the region. The conventional diagnosis method of cancer includes tissue biopsies among others which are harsh and painful in nature. Thus, the top market players have implemented the strategy of collaboration with other market players aimed at improving business operations and profitability.
Restraint/Challenge
- Cyber Security Concerns in Genomics
Software is known to contain vulnerabilities caused by imperfect code, and misconfiguration among others, and NGS-related software, engaged in the operation of sequencing and laboratory equipment or performing bioinformatics analyses is not different. Software vulnerabilities are exploited to gain unauthorized access to computer systems or networks, leak data, crash, or otherwise disrupt various services.
Recent Development
- In April 2021, Biocartis and SkylineDx announced the signing of a new partnership agreement which targets the development of SkylineDx’ novel proprietary test, the Merlin Assay, on Biocartis’ rapid and easy-to-use molecular diagnostics platform Idylla. This assay is aimed at predicting a patient’s risk of nodal metastasis in melanoma
Global Genetic Testing Market Scope
The global genetic testing market is segmented into four notable segments which are based on type, technology, diseases, and end-user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Carrier Testing
- Diagnostic Testing
- New Born Screening
- Predictive and Presymptomatic Testing
- Other Types
On the basis of type, the market is segmented into carrier testing, diagnostic testing, new born screening, predictive and presymptomatic testing, and other types.
Technology
- DNA Sequencing
- Polymerase Chain Reaction
- Microarrays
- Whole Genome Sequencing
- Fluorescence In Situ Hybridization (FISH)
- Others
On the basis of technology, the market is segmented into DNA sequencing, polymerase chain reaction, microarrays, whole genome sequencing, Fluorescence In Situ Hybridization (FISH), and others.
Disease
- Rare Genetic Disorder
- Cancer
- Cystic Fibrosis
- Sickle Cell Anemia
- Duchenne Muscular Dystrophy
- Thalassemia
- Huntington’s Disease
- Fragile X Syndrome
- Other
On the basis of disease, the market is segmented into rare genetic disorder, cancer, cystic fibrosis, sickle cell anemia, duchenne muscular dystrophy, thalassemia, Huntington’s disease, fragile X syndrome, and other.
End User
- Hospitals
- Clinics
- Diagnostic Centers
- Private Clinics
- Laboratory Service Providers
- Private Laboratories
On the basis of end user, the market is segmented into hospitals, clinics, diagnostic centers, private clinics, laboratory service providers, and private laboratories.
Global Genetic Testing Market : Regional Analysis/Insights
The genetic testing market is analyzed, and market size insights and trends are provided by country, type, technology, diseases, and end-user, as referenced above.
The countries covered in this genetic testing market report are U.S., Canada, Mexico, Germany, France, U.K. Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and rest of Middle East and Africa.
U.S. in North America is expected to dominate the market due of the increase in the expenditure for research and development proficiencies, increasing government’s initiatives and improved health care infrastructure in various countries. China in Asia-Pacific is expected to show significant growth in the market due to the increasing government expenditure on healthcare sector and rising technological advancements and initiatives by the government.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Genetic Testing Market Share Analysis
The genetic testing market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, new market initiatives, Global Presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major market players operating in the global genetic testing market are Thermo Fisher Scientific Inc., Invitae Corporation, Bio-Rad Laboratories, Inc., PerkinElmer Inc., Illumina, 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, and Natera, Inc. among others.
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