Genetic Testing Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 19.66 Billion |
| Market Size (2029) | USD 32.83 Billion |
| CAGR (2024 - 2029) | 10.81 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Genetic Testing Market Analysis
The Genetic Testing Market size is estimated at USD 19.66 billion in 2024, and is expected to reach USD 32.83 billion by 2029, growing at a CAGR of 10.81% during the forecast period (2024-2029).
Genetic testing is a type of medical test that identifies changes in genes, chromosomes, or proteins. The results of a genetic test can confirm or rule out a suspected genetic condition or help determine a person’s chance of developing or passing on a genetic disorder. Factors such as the increasing prevalence of genetic disorders, rising investments in research and development of genetic testing, and increasing technological advancements are expected to drive market growth.
Genetic testing is used for the diagnosis of genetic disorders, such as cancer, cystic fibrosis, sickle cell anemia, and Alzheimer's disease. Early detection of these diseases using genetic testing procedures plays a pivotal role in managing these disorders. For instance, according to Alzheimer’s Disease Facts and Figures Annual Report 2023, more than 6 million Americans had Alzheimer’s disease. By 2050, this number is projected to rise to nearly 13 million. The increasing prevalence of these diseases increases the demand for genetic testing, which is expected to drive the market over the forecast period.
The rising investments in research and development of genetic testing procedures are also expected to drive the market. For instance, in November 2022, Redcliffe Labs invested USD 10 million in the development of genetics and specialized testing. In addition, in December 2022, the UK government, in partnership with the National Health Service (NHS), invested USD 175 million in genomics research to explore the effectiveness of using whole-genome sequencing testing to find and treat rare genetic diseases in newborn babies.
Increasing technological advancements and product launches over the past few years have opened several opportunities for market expansion. For instance, in June 2023, Devyser launched Devyser LynchFAP and Devyser BRCA PALB2. These two genetic testing kits are used to identify hereditary cancer syndromes. Hence, the increasing launch of such genetic testing products is expected to drive the genetic testing market. However, the social and ethical implications of genetic testing and the high cost of genetic testing are expected to restrain market growth.
Genetic Testing Market Trends
The Cancer Segment is Expected to Witness Strong Growth During the Forecast Period
Genetic testing helps identify the risk of various types of cancers that may develop during an individual's lifetime. Genetic tests are available to detect inherited variants and mutations in the genetic sequence, which could lead to uncontrolled cell growth and result in cancer, such as genetic testing to identify PALB2 (associated with increased risks of breast and pancreatic tumors), CHEK2 (breast and colorectal cancers), BRIP1 (ovarian cancer), and RAD51C and RAD51D (ovarian cancer).
The increasing burden of cancer worldwide and the growing awareness among the global population about preventive diagnosis and personalized medicine are the major factors expected to drive the cancer segment during the forecast period. For instance, according to the American Cancer Society, around 2.0 million new cancer cases are projected to occur in the United States in 2024, compared to around 1.93 million in 2023. Hence, the increasing prevalence of cancer cases is expected to increase the demand for genetic testing for early diagnosis of various cancers. This demand is expected to drive the growth of the cancer segment.
Genetic tests aid in providing information on whether cancer runs in the family and the risk factors associated with the development of cancers in the future among individuals with a family history of cancers. Also, genetic testing is performed in patients who do not respond to chemotherapy to identify the presence of acquired mutations in tumors that are resistant to therapy.
Technological advancements and product launches are also expected to drive the growth of the segment. For instance, in January 2024, Nonacus launched a new genetic test, GALEAS Hereditary Plus. This test is used to diagnose hereditary cancers that are caused due to inherited genetic mutations. Thus, due to the aforementioned factors, the cancer segment is expected to witness significant growth over the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
North America is expected to record significant growth in the overall market throughout the forecast period. The United States is anticipated to hold the maximum share due to supportive healthcare policies, the high number of patients, and a developed healthcare market. The market growth can be attributed to factors such as the high prevalence of genetic disorders in the region, beneficial government initiatives, and the high saturation of key players involved in research activities for the innovation of novel genetic testing product launches, which are expected to drive the genetic testing market in North America.
The increasing prevalence of genetic disorders in the region is also expected to drive the genetic testing market. According to the American Society of Hematology 2024, around 70,000 to 100,000 Americans have sickle cell disease. As per the Canadian Cancer Society 2024, around 239,100 new cancer cases were registered in 2023, and an average of 655 people in Canada were diagnosed with cancer every day. Hence, the rising prevalence of genetic disorders such as sickle cell disease, cancer, and other genetic disorders is expected to boost the genetic testing market in North America.
The growing number of product launches is also expected to drive the genetic testing market in the region. For instance, in September 2023, the US Food and Drug Administration granted de novo marketing authorization for Invitae Corporation to develop Invitae Common Hereditary Cancers Panel, an in vitro diagnostic test that helps in the detection of genetic variants related to the high risk of developing certain cancers. Hence, such product launches are expected to accelerate the genetic testing market in North America.
Thus, factors such as the rising prevalence of genetic disorders, beneficial government initiatives, and the high saturation of key market players involved in research activities for the innovation of novel genetic testing product launches are expected to drive the genetic testing market in North America.
Genetic Testing Industry Overview
The genetic testing market is highly competitive and consists of several major players. The key players are involved in various strategic alliances, such as mergers and acquisitions, to secure their positions in the global market. Some companies currently dominating the market include Abbott Laboratories, BioRad Laboratories Inc., F Hoffmann-La Roche, Illumina Inc., and Danaher Corporation (Cepheid Inc.).
Genetic Testing Market Leaders
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Abbott Laboratories
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Danaher Corporation (Cepheid Inc.)
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Illumina Inc.
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BioRad Laboratories Inc.
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F Hoffmann-La Roche AG
*Disclaimer: Major Players sorted in no particular order
Genetic Testing Market News
- March 2024: Nucleus Genomics, a genetic testing and analysis company, reported the launch of a whole-genome sequencing test to bring the benefits of personalized medicine to its customers.
- June 2023: Thermo Fisher Scientific launched the Ion ReproSeq PGT-A Kit and the Ion AmpliSeq Polyploidy Kit. These genetic testing kits are used for aneuploidy (PGT-A) analysis.
Genetic Testing Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Genetic Disorders
4.2.2 Rising Investments In Research And Development of Genetic Testing
4.3 Market Restraints
4.3.1 High Costs of Genetic Testing
4.3.2 Social and Ethical Implications of Genetic Testing
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Type
5.1.1 Carrier Testing
5.1.2 Diagnostic Testing
5.1.3 New-born Screening
5.1.4 Predictive and Presymptomatic Testing
5.1.5 Prenatal Testing
5.1.6 Other Types
5.2 By Disease
5.2.1 Alzheimer's Disease
5.2.2 Cancer
5.2.3 Cystic Fibrosis
5.2.4 Sickle Cell Anemia
5.2.5 Duchenne Muscular Dystrophy
5.2.6 Thalassemia
5.2.7 Huntington's Disease
5.2.8 Rare Diseases
5.2.9 Other Diseases
5.3 By Technology
5.3.1 Cytogenetic Testing
5.3.2 Biochemical Testing
5.3.3 Molecular Testing
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 23&Me Inc.
6.1.2 Abbott Laboratories
6.1.3 Myriad Genetics Inc.
6.1.4 Danaher Corporation
6.1.5 Illumina Inc.
6.1.6 DiaSorin Spa (Luminex Corporation)
6.1.7 BioRad Laboratories Inc.
6.1.8 PerkinElmer Inc.
6.1.9 Quest Diagnostics Incorporated
6.1.10 F. Hoffmann-La Roche Ltd
6.1.11 Eurofins Scientific
6.1.12 Qiagen NV
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Genetic Testing Industry Segmentation
A genetic test is a medical test performed to identify any changes in the DNA sequence or chromosome structure. The gene within the DNA sequence can be identified either directly through sequencing or indirectly through various genetic testing methods.
The genetic testing market is segmented by type, disease, technology, and geography. By type, the market is segmented into carrier testing, diagnostic testing, newborn screening, predictive and presymptomatic testing, prenatal testing, and other types. By disease, the market is segmented into Alzheimer's disease, cancer, cystic fibrosis, sickle cell anemia, Duchenne muscular dystrophy, thalassemia, Huntington's disease, rare diseases, and other diseases. By technology, the market is segmented into cytogenetic testing, biochemical testing, and molecular testing. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the values (USD) for all the above segments.
| By Type | |
| Carrier Testing | |
| Diagnostic Testing | |
| New-born Screening | |
| Predictive and Presymptomatic Testing | |
| Prenatal Testing | |
| Other Types |
| By Disease | |
| Alzheimer's Disease | |
| Cancer | |
| Cystic Fibrosis | |
| Sickle Cell Anemia | |
| Duchenne Muscular Dystrophy | |
| Thalassemia | |
| Huntington's Disease | |
| Rare Diseases | |
| Other Diseases |
| By Technology | |
| Cytogenetic Testing | |
| Biochemical Testing | |
| Molecular Testing |
| Geography | ||||||||
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Genetic Testing Market Research FAQs
How big is the Genetic Testing Market?
The Genetic Testing Market size is expected to reach USD 19.66 billion in 2024 and grow at a CAGR of 10.81% to reach USD 32.83 billion by 2029.
What is the current Genetic Testing Market size?
In 2024, the Genetic Testing Market size is expected to reach USD 19.66 billion.
Who are the key players in Genetic Testing Market?
Abbott Laboratories, Danaher Corporation (Cepheid Inc.), Illumina Inc., BioRad Laboratories Inc. and F Hoffmann-La Roche AG are the major companies operating in the Genetic Testing Market.
Which is the fastest growing region in Genetic Testing Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Genetic Testing Market?
In 2024, the North America accounts for the largest market share in Genetic Testing Market.
What years does this Genetic Testing Market cover, and what was the market size in 2023?
In 2023, the Genetic Testing Market size was estimated at USD 17.53 billion. The report covers the Genetic Testing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Genetic Testing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the emerging trends in Genetic Testing Market?
The emerging trends in Genetic Testing Market are a) Direct-to-consumer testing b) Advancements in prenatal and newborn screening
Genetic Testing Industry Report
The global genetic testing market is witnessing significant growth, driven by increased awareness and advancements in technologies. Key segments like prenatal and newborn testing, cancer diagnosis, and genetic disease diagnosis are expanding due to the rising prevalence of genetic disorders and cancer. The adoption of next-generation sequencing and array technology is enhancing genetic analysis accuracy. The health and wellness predisposition/risk/tendency segment is gaining market share, reflecting a consumer interest in genetic predispositions. A shift towards direct-to-consumer channels is making genetic testing more accessible.
The consumables segment is vital, supporting the demand for services. With personalized medicine's rise, the DNA testing industry is set for innovation and growth, offering new opportunities for disease prevention, diagnosis, and treatment. The market analysis indicates a positive market outlook and market value, with significant market segmentation across various regions. Industry reports highlight the market trends and market growth, emphasizing the importance of industry size and market forecast.
Industry research and market data suggest that the global market is poised for substantial growth. The industry overview and market review provide insights into the industry's dynamics, including industry sales and industry statistics. The market predictions and market leaders are crucial for understanding the competitive landscape. The industry information and industry outlook reveal that the genetic testing market is on a robust growth trajectory, driven by technological advancements and increasing consumer demand.
The report example and report pdf offer a comprehensive view of the market, including market leaders and research companies. The industry trends and market forecast underscore the potential for continued expansion and innovation in the genetic testing market. The industry analysis and market overview provide a detailed understanding of the market's current state and future prospects, making it a valuable resource for stakeholders and investors.
Genetic Testing Market Report Snapshots
