Genetic Analysis Market Share, Size, Trends, Industry Analysis Report, By Type (Predictive Genetic Testing, Carrier Testing, Prenatal and Newborn Testing, Disease Diagnostic Testing, Pharmacogenomic Testing, and Others); By Application; By Technology; By

Genetic Analysis Market Share, Size, Trends, Industry Analysis Report, By Type (Predictive Genetic Testing, Carrier Testing, Prenatal and Newborn Testing, Disease Diagnostic Testing, Pharmacogenomic Testing, and Others); By Application; By Technology; By End-Use; By Region; Segment Forecast, 2023-2032

The global genetic analysis market size is expected treach USD 45.10 billion by 2032, according ta new study by Polaris Market Research. The report “Genetic Analysis Market Share, Size, Trends, Industry Analysis Report, By Type (Predictive Genetic Testing, Carrier Testing, Prenatal and Newborn Testing, Disease Diagnostic Testing, Pharmacogenomic Testing, and Others); By Application; By Technology; By End-Use; By Region; Segment Forecast, 2023-2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

A growing number of testing services are being developed across many countries tanalyze various types of genes that might increase or decrease the risk of diseases, including cancer and diabetes, as these tests have the potential tprevent people from common ailments and enhance the health of individuals, are major factors driving the global market growth. Furthermore, growing applications of genetic testing or analyzing services in oncology, decreasing cost of sequencing procedures, and high proliferation of innovations in the emerging genetic counseling field are likely tcreate lucrative growth opportunities.

For instance, in December 2022, HSE introduced the National Strategy for Accelerating Genetic and Genomic Medicine in Ireland. This strategy has been developed in collaboration with the Department of Health tenhance patient and family-centered genetics, which will be nationally coordinated.

There has been a significant shift from the “SNP BeadArray” chips tinnovative NGS-based services due tthe increasing affordability of the sequencing chemical & reagents. Costs associated with these advanced technologies have fallen drastically over the last few years tmake them available for many patients. For example, Illumina has announced its intent tdrive the cost of NGS down tUSD 100 per genome and will continue twork towards this goal.

Genetic Analysis Market Report Highlights

Prenatal and newborn testing segment accounted for significant global market share in 2022, on account of growing prevalence of variety of genetic diseases among infants

Cancer segment is projected tgrow at a considerable CAGR during the forecast period, because of the continuous rise in the burden of different types of cancers worldwide

Next-generation sequencing segment held the significant market revenue share in 2022, which is mainly accelerated by increasing technological advancements in several sequencing platforms

Research & development laboratories segment captured the highest market share in 2022, due ttheir ability toffer wide range of tests with higher accuracy and effectiveness

Europe region is anticipated texpand at fastest growth rate over the projected period, owing tincreasing consumer disposable income and rise in the number of government favorable initiatives

The global key market players include Bio-Rad Laboratories, Danaher Corporation, Sysmex Corporation, Agilent Technologies, and ThermFisher Scientific

Polaris Market Research has segmented the Genetic Analysis market report based on type, application, technology, end-use, and region:

Genetic Analysis, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Predictive Genetic Testing

Carrier Testing

Prenatal and Newborn Testing

Disease Diagnostic Testing

Pharmacogenomic Testing

Others

Genetic Analysis, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Cancer

Genetic Diseases

Cardiovascular Diseases

Rare Diseases

Infectious Diseases

Others

Genetic Analysis, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

Next-Generation Sequencing

Real-Time PCR System

Others

Genetic Analysis, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

Hospitals

Research & Development Laboratories

Diagnostic Centers

Others

Genetic Analysis, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa