Global Genetic Testing Market Growth (Status and Outlook) 2023-2029

Global Genetic Testing Market Growth (Status and Outlook) 2023-2029

Genetic testing, also known as DNA testing, allows the determination of bloodlines and the genetic diagnosis of vulnerabilities to inherited diseases. In agriculture, a form of genetic testing known as progeny testing can be used to evaluate the quality of breeding stock. In population ecology, genetic testing can be used to track genetic strengths and vulnerabilities of species populations.

LPI (LP Information)' newest research report, the “Genetic Testing Industry Forecast” looks at past sales and reviews total world Genetic Testing sales in 2022, providing a comprehensive analysis by region and market sector of projected Genetic Testing sales for 2023 through 2029. With Genetic Testing sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Genetic Testing industry.

This Insight Report provides a comprehensive analysis of the global Genetic Testing landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Genetic Testing portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Genetic Testing market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Genetic Testing and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Genetic Testing.

The global Genetic Testing market size is projected to grow from US$ 6692.3 million in 2022 to US$ 12500 million in 2029; it is expected to grow at a CAGR of 9.3% from 2023 to 2029.

The demand for genetic testing is growing owing to the increasing genetic mutations in fetuses and newborns and growing prevalence of hereditary genetic disorders, and infectious diseases. In the US, a large number of infants are being born with congenital heart disease (CHD). Owing to factors such as genetic conditions, the consumption of medications or alcohol during pregnancy, or viral infection, infants are susceptible to developing CHD. Technavio’s market study identifies the growing prevalence of genetic disorders to be one of the primary growth factors for the genetic testing market. CHD may occur in infants in varying patterns such as autosomal dominant, autosomal recessive, X-linked dominant, and X-linked recessive. A key vendor manufactured Invitae Congenital Heart Disease Panel, that can analyze efficiently 42 genes that cause CHD prematurely.

This report presents a comprehensive overview, market shares, and growth opportunities of Genetic Testing market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Analyzers
Consumables

Segmentation by application
Predictive and Diagnostic Testing
Prenatal, Newborn, and Pre-Implantation Testing
Pharmacogenomic Testing
Forensic, Relationship, and Ancestry Testing

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Abbott
bioMérieux
Bio-Rad Laboratories
F. Hoffmann-La Roche
Myriad Genetics
QIAGEN
Quest Diagnostics

Please note: The report will take approximately 2 business days to prepare and deliver.