Genetic Testing Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
Global Genetic Testing Market size will expand at an 11.7% CAGR from 2024 to 2032, due to increasing launches and advancements in genomic technology.
Recently, the healthcare sector has witnessed the introduction of new testing solutions with enhanced accuracy and expanding applications in healthcare, personalized medicine, and research. Furthermore, innovations are incorporating next-generation sequencing technologies and refining data analysis tools to deliver deeper genetic insights. For example, in March 2024, BillionToOne unveiled BabyPeek, a prenatal genetic test that offers non-medical insights about the baby, such as potential eye color, hair texture, and food preferences. This development underscores the strides made in genetic testing technology for personalized insights.
The market is segregated into product and service, test type, application, technique, end-use, and region.
In terms of product and service, the genetic testing industry share from the software and services segment is expected to witness growth at a significant rate through 2032. This is fuelled by the increasing demand for a transformative approach to health management. As software developers craft advanced genetic analysis tools, genetic service providers are delivering deeper insights into genetic predispositions and traits. This synergy simplifies the interpretation of genetic data, making it more user-friendly and actionable.
In terms of end-use, the genetic testing market value from the diagnostic laboratories segment is anticipated to grow from 2024 to 2032. This is attributed to the push for advanced genetic testing through the adoption of state-of-the-art technologies and software solutions. By leveraging advanced algorithms and data analysis tools, diagnostic laboratories are boosting the accuracy and speed of genetic results. The continuous evolution in genetic testing and its associated technologies is paving the way for diagnostic laboratories to consistently offer enhanced and personalized health insights.
Regionally, the Asia Pacific genetic testing industry is set to experience a notable CAGR between 2024 and 2032, primarily driven by the escalating incidence of cancer. With this surging cancer penetration, there is an increasing demand for genetic testing to pinpoint hereditary risks and customize treatment plans. Consequently, the ongoing innovations aim to provide thorough cancer risk evaluations and tailored management strategies, enhancing outcomes and bolstering proactive healthcare measures in light of the rising cancer rates in the region.
- Chapter 1 Methodology and Scope
- 1.1 Market scope and definitions
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates and calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
- Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
- Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Technological advancement and availability of new tests
- 3.2.1.2 Growing application of genetic testing in oncology and genetic diseases
- 3.2.1.3 Increasing consumer preference for personalized medicine
- 3.2.1.4 Growing demand for direct-to-consumer genetic testing
- 3.2.2 Industry pitfalls and challenges
- 3.2.2.1 High cost of genetic testing
- 3.2.2.2 Dearth of experienced professionals and advanced infrastructure in developing and developed economies
- 3.3 Growth potential analysis
- 3.4 Regulatory landscape
- 3.5 Technology landscape
- 3.6 Reimbursement scenario
- 3.7 Porter’s analysis
- 3.8 PESTEL analysis
- Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Company matrix analysis
- 4.4 Competitive positioning matrix
- 4.5 Strategic dashboard
- Chapter 5 Market Estimates and Forecast, By Product and Service, 2021 - 2032 ($ Mn)
- 5.1 Key trends
- 5.2 Kits and reagents
- 5.3 Software and services
- Chapter 6 Market Estimates and Forecast, By Test Type, 2021 - 2032 ($ Mn)
- 6.1 Key trends
- 6.2 Predictive testing
- 6.3 Carrier testing
- 6.4 Prenatal and newborn testing
- 6.5 Diagnostic testing
- 6.6 Pharmacogenomic testing
- 6.7 Nutrigenomics
- 6.8 Other test types
- Chapter 7 Market Estimates and Forecast, By Application, 2021 - 2032 ($ Mn)
- 7.1 Key trends
- 7.2 Cancer treatment
- 7.3 Tissue typing for transplantation
- 7.4 Forensic identity testing
- 7.5 Ancestry testing
- 7.6 Paternity testing
- 7.7 Other applications
- Chapter 8 Market Estimates and Forecast, By Technique, 2021 - 2032 ($ Mn)
- 8.1 Key trends
- 8.2 Polymerase chain reaction
- 8.3 DNA sequencing
- 8.3.1 Sanger sequencing
- 8.3.2 Next generation sequencing
- 8.4 Cytogenetic testing
- 8.4.1 Chromosome analysis (karyotyping)
- 8.4.2 Fluorescence in situ hybridization (FISH)
- 8.5 Microarrays
- 8.6 Gene expression profiling
- Chapter 9 Market Estimates and Forecast, By End-Use, 2021 - 2032 ($ Mn)
- 9.1 Key trends
- 9.2 Hospitals and clinics
- 9.3 Diagnostic laboratories
- 9.4 Forensic laboratories
- 9.5 Other end-users
- Chapter 10 Market Estimates and Forecast, By Region, 2021 - 2032 ($ Mn)
- 10.1 Key trends
- 10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
- 10.3 Europe
- 10.3.1 Germany
- 10.3.2 UK
- 10.3.3 France
- 10.3.4 Spain
- 10.3.5 Italy
- 10.3.6 Netherlands
- 10.3.7 Rest of Europe
- 10.4 Asia Pacific
- 10.4.1 Japan
- 10.4.2 China
- 10.4.3 India
- 10.4.4 Australia
- 10.4.5 South Korea
- 10.4.6 Rest of Asia Pacific
- 10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Rest of Latin America
- 10.6 Middle East and Africa
- 10.6.1 South Africa
- 10.6.2 Saudi Arabia
- 10.6.3 UAE
- 10.6.4 Rest of Middle East and Africa
- Chapter 11 Company Profiles
- 11.1 23 and ME, Inc.
- 11.2 Abbott Laboratories
- 11.3 Ambry genetics
- 11.4 Ancestry DNA
- 11.5 bioMerieux SA
- 11.6 BGI Genomics
- 11.7 Eurofins Scientific
- 11.8 Illumina, Inc.
- 11.9 Invitae Corporation
- 11.10 Luminex Corporation
- 11.11 Myriad Genetics, Inc.
- 11.12 Natera, Inc.
- 11.13 QIAGEN N.V.
- 11.14 Quest Diagnostics
- 11.15 Siemens Healthineers AG
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