Genetic Testing Market Size, Trends, Analysis, and Outlook By Technology (Next Generation Sequencing, Array Technology, PCR - based Testing, FISH, Others), By Application (Ancestry & Ethnicity, Traits Screening, Genetic Disease Carrier Status, New Baby Sc

Genetic Testing Market Size, Trends, Analysis, and Outlook By Technology (Next Generation Sequencing, Array Technology, PCR - based Testing, FISH, Others), By Application (Ancestry & Ethnicity, Traits Screening, Genetic Disease Carrier Status, New Baby Screening, Health and Wellness - Predisposition/ Risk / Tendency), By Product (Consumables, Equipment, Software & Services), By Channel, Online, Offline), By End-User (Hospitals & Clinics, Diagnostic Laboratories, Others), by Region, Country, Segment, and Companies, 2024-2030

The global Genetic Testing market size is poised to register 8.16% growth from 2024 to 2030, presenting significant growth prospects for companies operating in the industry. The industry study analyzes the global Genetic Testing market across By Technology (Next Generation Sequencing, Array Technology, PCR - based Testing, FISH, Others), By Application (Ancestry & Ethnicity, Traits Screening, Genetic Disease Carrier Status, New Baby Screening, Health and Wellness - Predisposition/ Risk / Tendency), By Product (Consumables, Equipment, Software & Services), By Channel, Online, Offline), By End-User (Hospitals & Clinics, Diagnostic Laboratories, Others).

The genetic testing market is experiencing significant growth attributed to the increasing adoption of precision medicine approaches, rising prevalence of genetic disorders and cancer, and advancements in genomics technologies. In 2024 and beyond, factors such as the growing demand for direct-to-consumer genetic testing services, expanding applications in prenatal screening, pharmacogenomics, and carrier testing, and rising investments in genomic research are driving market evolution. Additionally, the development of high-throughput sequencing platforms, integration of artificial intelligence in genetic data analysis, and collaborations between genetic testing companies and healthcare providers contribute to market expansion.

Genetic Testing Market Drivers, Trends, Opportunities, and Growth Opportunities

This comprehensive study discusses the latest trends and the most pressing challenges for industry players and investors. The Genetic Testing market research analyses the global market trends, key drivers, challenges, and opportunities in the industry. In addition, the latest Future of Genetic Testing survey report provides the market size outlook across types, applications, and other segments across the world and regions. It provides data-driven insights and actionable recommendations for companies in the Genetic Testing industry.

Key market trends defining the global Genetic Testing demand in 2024 and Beyond

The industry continues to remain an attractive hub for opportunities for both domestic and global vendors. As the market evolves, factors such as emerging market dynamics, demand from end-user sectors, a growing patient base, changes in consumption patterns, and widening distribution channels continue to play a major role.

Genetic Testing Market Segmentation- Industry Share, Market Size, and Outlook to 2030

The Genetic Testing industry comprises a wide range of segments and sub-segments. The rising demand for these product types and applications is supporting companies to increase their investment levels across niche segments. Accordingly, leading companies plan to generate a large share of their future revenue growth from expansion into these niche segments. The report presents the market size outlook across segments to support Genetic Testing companies scaling up production in these sub-segments with a focus on expanding into emerging countries.

Key strategies adopted by companies within the Genetic Testing industry

Leading Genetic Testing companies are boosting investments to capitalize on untapped potential and future possibilities across niche market segments and surging demand conditions in key regions. Further, companies are leveraging advanced technologies to unlock opportunities and achieve operational excellence. The report provides key strategies opted for by the top 10 Genetic Testing companies.

Genetic Testing Market Study- Strategic Analysis Review

The Genetic Testing market research report dives deep into the qualitative factors shaping the market, empowering you to make informed decisions-

• Industry Dynamics: Porter's Five Forces analysis to understand bargaining power, competitive rivalry, and threats that impact long-term strategy formulation.
• Strategic Insights: Provides valuable perspectives on key players and their approaches based on comprehensive strategy analysis.
• Internal Strengths and Weaknesses: Develop targeted strategies to leverage strengths, address weaknesses, and capitalize on market opportunities.
• Future Possibilities: Prepare for diverse outcomes with in-depth scenario analysis. Explore potential market disruptions, technology advancements, and economic changes.

Genetic Testing Market Size Outlook- Historic and Forecast Revenue in Three Cases

The Genetic Testing industry report provides a detailed analysis and outlook of revenue generated by companies from 2018 to 2023. Further, with actual data for 2023, the report forecasts the market size outlook from 2024 to 2030 in three case scenarios- low case, reference case, and high case scenarios.

Genetic Testing Country Analysis and Revenue Outlook to 2030

The report analyses 22 countries worldwide including the key driving forces and market size outlook from 2021 to 2030. In addition, region analysis across Asia Pacific, Europe, the Middle East, Africa, North America, and South America is included in the study. For each of the six regions, the market size outlook by segments is forecast for 2030.

North America Genetic Testing Market Size Outlook- Companies plan for focused investments in a changing environment

The US continues to remain the market leader in North America, driven by a large consumer base, the presence of well-established providers, and a strong end-user industry demand. Leading companies focus on new product launches in the changing environment. The US economy is expected to grow in 2024 (around 2.2% growth in 2024), potentially driving demand for various Genetic Testing market segments. Similarly, Strong end-user demand is encouraging Canadian Genetic Testing companies to invest in niche segments. Further, as Mexico continues to strengthen its trade relations and invest in technological advancements, the Mexico Genetic Testing market is expected to experience significant expansion, offering lucrative opportunities for both domestic and international stakeholders.

Europe Genetic Testing Market Size Outlook-Companies investing in assessing consumers, categories, competitors, and capabilities

The German industry remains the major market for companies in the European Genetic Testing industry with consumers in Germany, France, the UK, Spain, Italy, and others anticipated to register a steady demand throughout the forecast period, driving the overall market prospects. In addition, the proactive approach of businesses in identifying and leveraging new growth prospects positions the European Genetic Testing market for an upward trajectory, fostering both domestic and international interest. Leading brands operating in the industry are emphasizing effective marketing strategies, innovative product offerings, and a keen understanding of consumer preferences.

Asia Pacific Genetic Testing Market Size Outlook- an attractive hub for opportunities for both local and global companies

The increasing prevalence of indications, robust healthcare expenditure, and increasing investments in healthcare infrastructure drive the demand for Genetic Testing in Asia Pacific. In particular, China, India, and South East Asian Genetic Testing markets present a compelling outlook for 2030, acting as a magnet for both domestic and multinational manufacturers seeking growth opportunities. Similarly, with a burgeoning population and a rising middle class, India offers a vast consumer market. Japanese and Korean companies are quickly aligning their strategies to navigate changes, explore new markets, and enhance their competitive edge. Our report utilizes in-depth interviews with industry experts and comprehensive data analysis to provide a comprehensive outlook of 6 major markets in the region.

Latin America Genetic Testing Market Size Outlook- Continued urbanization and rising income levels

Rising income levels contribute to greater purchasing power among consumers, spurring consumption and creating opportunities for market expansion. Continued urbanization and rising income levels are expected to sustainably drive consumption growth in the medium to long term.

Middle East and Africa Genetic Testing Market Size Outlook- continues its upward trajectory across segments

Robust demand from Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, and other GCC countries supports the overall Middle East Genetic Testing market potential. Fueled by increasing healthcare expenditure of individuals, growing population, and high prevalence across a few markets drives the demand for Genetic Testing.

Genetic Testing Market Company Profiles

The global Genetic Testing market is characterized by intense competitive conditions with leading companies opting for aggressive marketing to gain market shares. The report presents business descriptions, SWOT analysis, growth strategies, and financial profiles. Leading companies included in the study are 23andme, 24 genetics, Amgen Inc, AncestryDNA, Beyond Nutrition Health and Wellness Services DMCC, Circle DNA, Color Genomics Inc, Everly Well, Helix OpCo LLC, Igenomix, Illumina Inc, Mapmygenome, MyDNA, MyHeritage Ltd, Myriad Genetics Inc, Tellmegen, VitaGen

Recent Genetic Testing Market Developments

The global Genetic Testing market study presents recent market news and developments including new product launches, mergers, acquisitions, expansions, product approvals, and other updates in the industry.

Genetic Testing Market Report Scope

Parameters: Revenue, Volume Price

Study Period: 2023 (Base Year); 2018- 2023 (Historic Period); 2024- 2030 (Forecast Period)

Currency: USD; (Upon request, can be provided in Euro, JPY, GBP, and other Local Currency)

Qualitative Analysis

• Pricing Analysis
• Value Chain Analysis
• SWOT Profile
• Market Dynamics- Trends, Drivers, Challenges
• Porter’s Five Forces Analysis
• Macroeconomic Impact Analysis
• Case Scenarios- Low, Base, High

Market Segmentation:

By Technology

Next Generation Sequencing

Array Technology

PCR - based Testing

FISH

Others

By Application

Ancestry & Ethnicity

Traits Screening

Genetic Disease Carrier Status

New Baby Screening

Health and Wellness - Predisposition/ Risk / Tendency

By Product

Consumables

Equipment

Software & Services

By Channel

Online

Offline

By End-User

Hospitals & Clinics

Diagnostic Laboratories

Others

Geographical Segmentation:

• North America (3 markets)
• Europe (6 markets)
• Asia Pacific (6 markets)
• Latin America (3 markets)
• Middle East Africa (5 markets)

Companies

23andme

24 genetics

Amgen Inc

AncestryDNA

Beyond Nutrition Health and Wellness Services DMCC

Circle DNA

Color Genomics Inc

Everly Well

Helix OpCo LLC

Igenomix

Illumina Inc

Mapmygenome

MyDNA

MyHeritage Ltd

Myriad Genetics Inc

Tellmegen

VitaGen

Formats Available: Excel, PDF, and PPT