According to Vision Research Reports, the global genetic testing market size was estimated at around USD 8.84 billion in 2023 and it is projected to set around USD 64.73 billion by 2033 with a CAGR of 22.03% from 2024 to 2033.
According to Vision Research Reports, the global genetic testing market size was estimated at around USD 8.84 billion in 2023 and it is projected to set around USD 64.73 billion by 2033 with a CAGR of 22.03% from 2024 to 2033. Genetic testing serves as a crucial medical procedure aimed at identifying alterations within genes, chromosomes, or proteins. These tests play a pivotal role in either confirming or negating suspicions regarding a genetic condition, as well as in assessing an individual’s predisposition to developing or transmitting such disorders. Currently, over 77,000 genetic tests are actively utilized, with ongoing development in this field.
The genetic testing market is poised for continued growth as technological advancements, increased awareness, and expanding applications continue to drive demand for genetic testing services worldwide.
Genetic testing involves looking for changes in:
- Genes: Gene tests scrutinize DNA sequences to pinpoint variations (mutations) within genes, which can either trigger or elevate the risk of a genetic ailment. These tests may vary in scale, focusing on individual nucleotides, one or multiple genes, or the entirety of an individual’s DNA (referred to as their genome).
- Chromosomes: Chromosomal genetic tests analyze complete chromosomes or lengthy DNA segments to detect substantial genetic alterations, such as an additional copy of a chromosome, responsible for genetic disorders.
- Proteins: Biochemical genetic tests assess the quantity or activity level of proteins or enzymes; deviations in either parameter can signal DNA alterations leading to genetic disorders.
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Why Genetic Testing?
Genetic testing may be offered for a number of different reasons including:
- To confirm or rule out a diagnosis in an individual with symptoms of a genetic condition
- For individuals with a family history of or a previous child with a genetic condition
- To locate possible genetic conditions in newborn babies so treatment may be started immediately
Key Pointers
- In 2023, North America dominated the market, holding the largest market share.
- In terms of technology, the next-generation sequencing (NGS) segment is projected to witness the highest compound annual growth rate (CAGR) of 23.05% from 2024 to 2033.
- Regarding applications, the health and wellness predisposition/risk/tendency segment accounted for the largest market share of 48% in 2023.
- In the product category, the consumables segment contributed the most significant market share of 61% in 2023.
- As for distribution channels, the online channel is expected to experience notable growth with a CAGR of 24.08% from 2024 to 2033.
- Lastly, in terms of end-users, hospitals and clinics held the largest market share of 47% in 2023.
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Genetic Testing Market Growth Factors:
- Advancements in Technology: Continuous advancements in genetic testing technologies, such as next-generation sequencing (NGS) and microarray analysis, enhance the accuracy, speed, and affordability of testing, driving market growth.
- Increasing Prevalence of Genetic Disorders: The rising prevalence of genetic disorders and diseases, such as cancer, cardiovascular diseases, and genetic syndromes, fuels the demand for genetic testing for early detection, diagnosis, and personalized treatment strategies.
- Growing Awareness and Acceptance: Increasing awareness among healthcare professionals and patients about the benefits of genetic testing for disease prevention, treatment planning, and family planning contributes to market growth. Additionally, growing acceptance of genetic testing in mainstream healthcare further boosts market demand.
- Expanding Applications: The expanding applications of genetic testing beyond disease diagnosis to areas such as pharmacogenomics, nutrigenomics, and ancestry testing broaden the market’s scope and appeal to diverse customer segments.
- Rising Demand for Personalized Medicine: The shift towards personalized medicine, driven by the need for tailored treatment approaches based on individual genetic makeup, drives demand for genetic testing services and products, contributing to market expansion.
- Direct-to-Consumer (DTC) Genetic Testing: The availability and popularity of direct-to-consumer genetic testing kits, offering convenience and insights into ancestry, health predispositions, and lifestyle factors, drive market growth by reaching a broader consumer base.
- Research and Development Activities: Ongoing research and development efforts to innovate genetic testing technologies, develop novel biomarkers, and expand testing capabilities contribute to market expansion by offering improved and novel testing solutions.
Some Related Reports:
- Direct-to-Consumer Genetic Testing Market: https://www.visionresearchreports.com/direct-to-consumer-genetic-testing-market/40299
- UAE Genetic Testing Market: https://www.visionresearchreports.com/uae-genetic-testing-market/39434
Technology Insights
The next-generation sequencing (NGS) sector is anticipated to undergo rapid expansion, projecting a Compound Annual Growth Rate (CAGR) of 23.05% from 2024 to 2033. This growth is attributed to several factors, including the expansion of genome mapping initiatives, increased healthcare expenditure, technological advancements, and the widening array of applications for NGS technology. NGS technologies are increasingly employed for identifying and characterizing various cancer types and genetic disorders. Genetic testing, facilitated by tumor DNA sequencing, plays a crucial role in identifying unique DNA alterations associated with these conditions.
Within the genetic testing field, array technology is poised for substantial growth. This is driven by the escalating prevalence of cancer, which leads to a higher adoption rate of DNA-based array technology for genetic disease diagnosis and personalized medicine. Array technology serves as a laboratory tool for simultaneously studying the expression of multiple genes. It involves the use of thousands of gene sequences on a gene chip. This technique finds extensive application in early-stage cancer detection, gene expression analysis, and drug discovery efforts.
Application Insights
The health and wellness predisposition/risk/tendency segment commanded the largest global market share of 48% in 2023 and is projected to maintain its dominance with the highest growth rate throughout the forecast period. This is attributed to the growing demand for predictive genetics and consumer/wellness genomics testing, propelled by the increasing adoption of healthy lifestyles and healthcare awareness initiatives.
Furthermore, significant growth is anticipated in the genetic disease carrier status segment. These tests evaluate the likelihood of ancestral DNA matching known genomic information to the greatest extent possible. With genetics continually evolving, an increasing number of individuals worldwide are opting for these tests. This upsurge in demand for carrier disease genetic testing is expected to further fuel market growth
Product Insights
In 2023, the consumables segment emerged as the dominant force in the global genetic testing industry, capturing a significant market share of 61%. This segment encompasses various players involved in supplying and selling consumables, offering a diverse array of products such as reagents and accessories. The consumables market for genetic testing is poised for substantial growth in the future, primarily driven by the continuous and repetitive utilization of these products throughout the testing process. Many competitors in the consumables market are actively pursuing both organic and inorganic growth strategies to expand their existing product portfolios and enhance their geographical presence.
Likewise, the service segment is expected to witness remarkable growth during the forecast period. This growth is fueled by increasing strategic initiatives from Contract Research Organizations (CROs), which are making significant investments in this segment. For example, in January 2023, Inotiv Inc. bolstered its toxicology research capabilities by acquiring Integrated Laboratory System (ILS) for USD 56 million.
Channel Insights
The online channel is expected to witness the fastest growth in the market, with a Compound Annual Growth Rate (CAGR) of 24.08%. This surge is primarily driven by the direct-to-consumer marketing strategy, supported by increased research funding in molecular biology, a growing trend of direct-to-consumer testing, and heightened acceptance and awareness of personalized medicine. Direct-to-customer companies utilize over-the-counter and online channels to offer tests directly to consumers, ensuring easy accessibility.
In contrast, the offline channel segment dominated the market share in 2023. The rapid advancement of new technologies in molecular genetic testing has facilitated the expansion of the testing industry. Furthermore, numerous private diagnostic laboratories continue to emerge, offering a wide range of genetic testing solutions. A noteworthy trend gaining traction in molecular-based testing services is the availability of buccal swab collection kits and saliva for over-the-counter sales by pharmacies, further contributing to the growth of the offline channel segment.
End-user Insights
In 2023, the hospitals and clinics segment emerged as the market revenue leader, capturing a significant share of 47%. This dominance is primarily attributed to mandatory newborn screening programs for genetic disorders and the increasing prevalence of cancer across various regions. Particularly in the United States, nearly 98% of women opt for hospital births, thereby driving the demand for genetic testing services. The anticipated expansion of hospital and clinic capacities is expected to further stimulate this demand.
Moreover, the adoption of recent trends such as telehealth and in-house hospital services is poised to bolster market growth. For instance, in December 2021, a U.S.-based healthcare company, Intermountain, experienced a significant surge in telehealth visits, rising to over 73,000 per month from a mere 7,000 in March 2020. This trend was implemented across 225 clinics, 25 hospitals, and various partner hospitals, highlighting the increasing reliance on telehealth services as a convenient and accessible healthcare solution.
Regional Insights
In 2023, North America emerged as the dominant force in the global market. This prominence can be attributed to several factors, including the escalating demand for diagnostics driven by the increase in chronic illnesses and the availability of advanced diagnostic technologies. Additionally, the region’s rising incidence of infectious diseases such as COVID-19, tuberculosis, HIV, and influenza is expected to further boost demand for detection and treatment solutions. Moreover, the presence of well-established healthcare infrastructure and government funding for research initiatives are poised to significantly contribute to market growth in North America.
On the other hand, Asia Pacific stands out as the fastest-growing market, propelled by a substantial target population in countries like China, India, South Korea, and Japan. The region’s rapid adoption of innovative laboratory techniques, including DNA sequencing, for the swift investigation and diagnosis of both chronic and infectious disorders is a key driver of market expansion. As such, Asia Pacific holds considerable potential for further growth and development in the diagnostics market.
Genetic Testing Market Key Companies
- 24 genetics
- Circle DNA
- Tellmegen
- 23andme
- AncestryDNA
- MyDNA
- Everly Well
- Igenomix
- VitaGen
- Myriad Genetics, Inc.
- Mapmygenome
- Helix OpCo LLC
- MyHeritage Ltd.
- Illumina, Inc.
- Color Genomics, Inc.
- Amgen, Inc.
- Beyond Nutrition Health and Wellness Services DMCC
Genetic Testing Market Segmentations:
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
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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