The genetic testing market employs diverse technologies such as DNA sequencing (NGS-based testing), polymerase chain reaction, microarrays, whole genome sequencing, fluorescence in situ hybridization (FISH), and others. These technologies cater to the diagnosis of a spectrum of diseases, including rare genetic disorders, cancer, cystic fibrosis, sickle cell anemia, Duchenne Muscular Dystrophy, thalassemia, Huntington’s disease, fragile X syndrome, and more. This comprehensive approach enables precise diagnosis, risk assessment, and personalized treatment strategies, shaping the future of genetic testing.
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Data Bridge Market Research analyses that the Global Genetic Testing Market, which was USD 15,942.20 million in 2022, is expected to reach USD 51,222.81 million by 2030 and is expected to undergo a CAGR of 15.7% during the forecast period of 2023-2030. The driver, rising disease prevalence, underscores the escalating incidence of genetic disorders and diseases, contributing to a heightened demand for genetic testing. As the prevalence of these conditions increases, the need for accurate and early genetic diagnostics becomes pivotal, driving the growth of the Genetic Testing Market.
Key Findings of the Study
Increasing demand for precision medicine is expected to drive the market's growth rate
The driver, increasing demand for precision medicine, signifies the growing emphasis on personalized treatment approaches, propelling the demand for genetic testing. Precision medicine relies on understanding an individual's genetic makeup for tailored therapeutic interventions. As healthcare shifts towards personalized strategies, genetic testing becomes pivotal in providing accurate genetic information, guiding clinicians in crafting targeted and effective treatment plans, thus driving the expansion of the genetic testing market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Carrier Testing, Diagnostic Testing, Prenatal Testing, New Born Screening, Predictive and Presymptomatic Testing, Other Types), Technology (DNA Sequencing (NGS-Based Testing), Polymerase Chain Reaction, Microarrays, Whole Genome Sequencing, Fluorescence In Situ Hybridization (FISH), Others), Diseases (Rare Genetic Disorder, Cancer, Cystic Fibrosis, Sickle Cell Anemia, Duchenne Muscular Dystrophy, Thalassemia, Huntington’s Disease, Fragile X Syndrome, Duchenne Muscular Dystrophy, Others), End-User (Hospitals, Clinics, Diagnostic Centres, Private Clinics, Laboratory Service Providers, Private Laboratories)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Thermo Fisher Scientific Inc. (U.S.), Invitae Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), PerkinElmer Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Fulgent Genetics (U.S.), Myriad Genetics, Inc. (U.S.), Abbott (U.S.), Eurofins Scientific (Luxembourg), Sorenson Genomics (U.S.), BIO-HELIX (U.S.), Biocartis (Belgium), Cepheid (A subsidiary of Danaher) (U.S.), PacBio (U.S.), ELITechGroup (France), Genes2Me (India), Eugene Labs (India), Otogenetics (U.S.), Mapmygenome (India), MedGenome (India), BioReference (U.S.), Sema4 OpCo, Inc. (U.S.), Natera, Inc. (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The global genetic testing market is categorized into four notable segments which are based on type, technology, diseases, and end-user.
- On the basis of type, the global genetic testing market is segmented into carrier testing, diagnostic testing, prenatal testing, new born screening, predictive and presymptomatic testing, and other types. The diagnostic testing segment dominates the genetic testing market with a 38.03% market share due to its pivotal role in identifying and managing genetic disorders, predicting disease risks, and facilitating personalized treatment plans
The diagnostic testing segment of the type segment dominates the global genetic testing market during the forecast period of 2023-2030
The diagnostic testing segment dominates the genetic testing market with a 38.03% market share due to its pivotal role in identifying and managing genetic disorders, predicting disease risks, and facilitating personalized treatment plans. As healthcare increasingly embraces precision medicine, the demand for diagnostic genetic testing grows, propelling this segment to a dominant position in the market.
- On the basis of technology, the global genetic testing market is segmented into DNA sequencing (NGS-based testing), polymerase chain reaction, microarrays, whole genome sequencing, fluorescence in situ hybridization (FISH), and others. The polymerase chain reaction (PCR) segment dominates the genetic testing market with a 41.45% market share due to its accuracy and versatility
The polymerase chain reaction (PCR) segment of the technology segment dominates the global genetic testing market during the forecast period of 2023-2030
The polymerase chain reaction (PCR) segment dominates the genetic testing market with a 41.45% market share due to its accuracy and versatility. PCR technology facilitates the amplification of DNA, playing a crucial role in various genetic testing applications, including diagnostics, research, and forensics, contributing significantly to the segment's dominance.
- On the basis of diseases, the global genetic testing market is segmented into rare genetic disorder, cancer, Cystic Fibrosis, sickle cell Anemia, Duchenne muscular dystrophy, thalassemia, Huntington’s Disease, fragile X syndrome, Duchenne muscular dystrophy, and others
- On the basis of end-user, the global genetic testing market is segmented into hospitals, clinics, diagnostic centres, private clinics, laboratory service providers, and private laboratories. Hospitals segment dominated the genetic testing market with a 37.59% market share due to their integral role in diagnostics, patient care, and comprehensive healthcare services
Major Players
Data Bridge Market Research recognizes the following companies as the global genetic market players in global genetic market are Thermo Fisher Scientific Inc. (U.S.), Invitae Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), PerkinElmer Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Fulgent Genetics (U.S.).
Market Developments
- In January 2022, Inotiv Inc. expanded its toxicology research capabilities through the acquisition of Integrated Laboratory System (ILS) for USD 56 million. This strategic move strengthened Inotiv's position in the genetic testing market, combining their expertise to offer comprehensive services. The acquisition not only broadened Inotiv's portfolio but also enhanced their capabilities in providing advanced genetic testing solutions, fostering growth and innovation in the dynamic field of toxicology research
- In June 2022, Prenetics Group Limited, a frontrunner in genomic and diagnostic testing, launched ColoClear by Circle, a groundbreaking non-invasive at-home screening test for early detection of colorectal cancer. This innovation empowers individuals to conveniently and proactively monitor their colorectal health, allowing for early identification of potential risks. ColoClear represents a significant advancement in cancer screening, aligning with Prenetics' commitment to accessible and effective diagnostic solutions for better healthcare outcomes
- In March 2022, Illumina, a genome sequencing leader, launched cancer test in Europe. This test examines numerous tumor genes within a single tissue sample, offering a comprehensive approach to identify potential treatment options for patients with rare diseases. Illumina's innovative cancer test exemplifies a significant leap forward in precision medicine, providing clinicians with valuable insights for personalized treatment strategies and enhancing the prospects for individuals facing complex and rare forms of cancer
- In December 2021, Thermo Fisher Scientific Inc. successfully concluded its acquisition of PPD, Inc., a prominent global provider of clinical research services, for USD 17.4 billion. This strategic move significantly enhanced Thermo Fisher's capabilities, fostering increased revenue generation. By integrating PPD's expertise in clinical research with Thermo Fisher's extensive portfolio, the acquisition fortified their position in serving the biopharma and biotech industry, catalyzing market growth and offering comprehensive solutions to the life sciences sector
- In January 2020, ARCHIMED Life collaborated with Amides Holding GmbH to enhance and broaden access to specialized diagnostic services encompassing genetic, biochemical, and biomarker testing. This collaboration aimed to strengthen their positions in the evolving field of diagnostic services
Regional Analysis
Geographically, the countries covered in the global genetic market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the global genetic market during the forecast period 2023-2030
North America dominates the genetic disorders diagnostics market, driven by the increasing prevalence of genetic disorders, genetic defects, and chromosomal aberrations in the population. The region's robust research and development activities contribute to market growth, facilitating advancements in genetic diagnostics. The heightened awareness of genetic conditions and the pursuit of innovative diagnostic solutions underscore North America's pivotal role in addressing the challenges associated with genetic disorders within the population.
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