Genetic Analysis Market Size By Product (Instruments, Reagents & Kits, Software), By Test (Predictive Genetic Testing, Carrier Testing, Prenatal and Newborn Testing, Disease Diagnostic Testing, Pharmacogenomic Testing), By Application (Cancer, Genetic Dis

Genetic Analysis Market Size By Product (Instruments, Reagents & Kits, Software), By Test (Predictive Genetic Testing, Carrier Testing, Prenatal and Newborn Testing, Disease Diagnostic Testing, Pharmacogenomic Testing), By Application (Cancer, Genetic Diseases, Cardiovascular Diseases, Rare Diseases, Infectious Diseases), By Technology (Next-generation Sequencing (NGS), Real-Time PCR System), By End-use (Hospitals, Research & Development Laboratories, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The global genetic analysis market is anticipated to record appreciable proceeds over 2022-2030, owing to the rising occurrence of gene-mutated cancers.

The passing of harmful variants of normal genes through generations has increased the risks of disorders such as cancers. People who have inherited dangerous variants of BRCA1 and BRCA2, for instance, tend to develop cancer at a younger age.

Genetic testing helps in estimating a patient’s chance of developing cancer over their lifetime. These tests look for specific changes in chromosomes, genes, or proteins known as mutations. The growing awareness regarding the burden of genetic disorders will thus fuel market growth over the years.

The genetic analysis industry is categorized in terms of test, product, application, technology, end-user, and region.

In terms of test, the prenatal and newborn testing segment held over 13% share of the genetic analysis market in 2021, owing to the rising number of fetal chromosomal abnormalities.

Increasing occurrences of specific inherited diseases such as thalassemia and sickle cell anemia in developing as well as developed countries will augment the use of genetic tests. Moreover, the growing prevalence of genetic diseases in newborn babies is expected to stimulate industry dynamics over the years.

Regarding the product, market value from the software segment was worth over USD 1 billion in 2021, on account of the growing product usage to improve the accessibility and usability of genomic databases.

Citing an instance, researchers from the Biodemography of Aging Research Unit (BARU) of the Duke Center for Population Health and Aging developed software packages designed to conduct the genetic analysis of longitudinal data on aging.

These packages included cophesim, a phenotype simulation package offering valuable tools for testing new ways of genetic analyses, using simulated genetic and phenotypic data. Advanced software offerings such as these are likely to expedite industry growth.

The cardiovascular diseases application segment held more than 3% share in the genetic analysis industry in 2021. Cardiovascular disease is one of the leading causes of death across the world. Rheumatic heart disease, coronary heart disease, and cerebrovascular disease are some of the blood vessel and heart disorders creating a significant healthcare problem.

Strokes and heart attacks account for a significant number of deaths, and close to one-third of these deaths take place by 70 years of age. With the escalating occurrence of this disorder, there will be a rise in the adoption of diagnostic methods such as genetic analysis to understand the inheritance of the disease.

The hospitals end-user segment accounted for over 18% of the market share, on account of advancements in hospital-based genetic laboratories. Hospitals have advanced genetic labs in-house. These facilities are used to perform extensive analyses of RNA and DNA to identify inherited diseases and implement the necessary corrective measures.

Regionally speaking, the Middle East & Africa genetic analysis market is expected to register appreciable proceeds over the estimated timeframe, due to technological advancements in genetic testing in the region.

Countries from the Middle East are adopting advanced gene testing devices owing to heavy investments in medical infrastructure. Moreover, the high dependency of the general population on personalized medicines will influence regional market dynamics over the forthcoming years.