Genetic Testing Market Size By Test Type (Predictive Testing, Carrier Testing, Prenatal and New-born Testing, Diagnostic Testing, Pharmacogenomic Testing, Nutrigenomic Testing), By Application (Cancer, Genetic Disease, Cardiovascular Disease), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Feb 2020  |  Report ID: GMI2490  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 420   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry trends

Genetic Testing Market size crossed over USD 13 billion in 2019 and is expected to grow at 12.2% CAGR from 2020 to 2026. Genetic testing involves testing the genome to identify alterations in chromosomes, genes, or the proteins. These tests can be used to sequence the entire genome to test for ancestry as well as a method to diagnose or eliminate the possibility of genetic diseases. There is a growing demand for genetic testing as advanced methods are developed and the accessibility of these tests increases.
 

Genetic Testing Market

Get more details on this report - Request Free Sample PDF
 

Genetic testing is used in diagnostics, prenatal screening, pharmacogenomics, and as a predictive tool. A growing incidence of chronic diseases across the globe will propel the market expansion. Furthermore, the diagnostics segment will witness substantial growth. The growth can be attributed to the advances in genetic testing services and increasing demand for personalized medicine.
 

Genetic Testing Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 13.1 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 12.2% 2026 Value Projection: 29.0 Billion (USD)
Pages: 420 Tables, Charts & Figures: 157
Geographies covered (19): U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, Japan, India, Australia, South Korea, Brazil, Argentina, Mexico, South Africa, Saudi Arabia, UAE
Segments covered: Test Type, Application and Region
Companies covered (30): 23andMe, Inc., Abbott, Ambry Genetics, BGI, Biocartis Group NV, Bio-Helix Co. Ltd., bioMerieux SA, Blueprint Genetics, Cepheid, Counsyl, Inc., deCODE Genetics, GeneDx, Genomic Health, Inc., Genomictree, Inc., HTG Molecular Diagnostics, Inc., Illumina, Inc., IntegraGen, Invitae Corporation, LabCorp (Laboratory Corporation of America Holdings), Luminex Corporation, Molecular MD, Myriad Genetics, Inc., Natera, Inc., Pacific Biosciences of California, Inc., Pathway Genomics Corporation, Qiagen, Quest Diagnostics, Roche Diagnostics, Sequenom, Inc., Siemens Healthineers AG
Growth Drivers:
  • Physician adoption of genetic tests into clinical care
  • Technological advancements and availability of new tests
  • Growing application of genetic testing in oncology and genetic diseases in North America
  • Consumer interest in personalized medicines in Europe
  • Growing demand for direct-to-consumer genetic testing
Pitfalls & Challenges:
  • High costs of genetic testing
  • Dearth of experienced professionals and advanced infrastructure in developing and underdeveloped economies

Request 15% Free Customization on this Report
 

Technological advancements in genetic testing will boost product adoption

Technological advancements in genetic testing will propel the global market demand in the forecast timeframe. Advances in sequencing techniques have reduced the sequencing time, and cost of genetic testing. For instance, microarrays substantially reduce the sequencing time by utilizing microchips. These microchips use fluorescent dye to identify mutations in the chromosomes. Furthermore, innovations such as exome sequencing and next generation sequencing have reduced the cost of genetic testing. Hence, technological advancements will propel the genetic testing market demand through 2026.
 

Lack of skilled professionals in developing and underdeveloped countries might inhibit the market expansion in the future. Furthermore, the high cost of genetic testing might reduce the adoption rate and impede the industry expansion. However, technological advancements could lead to reduced costs in the long run, boosting the market growth.
 

Growing preference for compounded medication will boost pharmacogenomic testing segment

Genetic Testing Market Regional Outlook

Get more details on this report - Request Free Sample PDF
 

Based on test types, the market is segmented into predictive testing, carrier testing, prenatal and new-born testing, diagnostic testing, pharmacogenomic testing and nutrigenomic testing. Pharmacogenomic testing will exhibit substantial growth at 11.7% CAGR over the forecast period. Pharmacogenomic testing is used to determine the most effective drug for patients based on their genomic makeup. Pharmacogenomic testing is vital to compounding custom medication. A growing demand for custom medication will therefore boost the pharmacogenomic testing segment. These factors will propel the genetic testing market revenue during 2020-2026.
 

Prenatal and new-born testing segment held market value of USD 3.9 billion in 2019 and will exhibit substantial growth over the forecast period. Prenatal screening checks for metabolic issues and chromosomal disorders such as aneuploidy or trisomy. The advancements in prenatal screening will boost the adoption rate, fuelling the market growth. Furthermore, the increasing rate of births will drive the genetic testing industry expansion over the forecast period.
 

Innovative testing solutions will propel the cardiovascular testing market

The cardiovascular segment held market value of USD 1.3 billion in 2019. Cardiovascular testing enables the analysis of ailments such as cardiomyopathies and arrhythmias. The segment will witness high growth as manufacturers launch innovative solutions. Furthermore, the growing prevalence of cardiovascular diseases will boost segment growth. These factors will contribute to industry expansion in the future.
 

The genetic disease testing segment held nearly 25% market share in 2019 and will witness substantial growth over the forecast period. The growth can be attributed to the increased accessibility of genetic testing. Furthermore, physicians are utilizing genetic testing in routine clinical care. These factors will foster the segment growth over the forecast period and propel the market expansion.
 

Rising patient pool to propel Asia Pacific market growth

APAC Genetic Testing Industry

Get more details on this report - Request Free Sample PDF
 

Asia Pacific genetic testing market held substantial value in 2019 and will exhibit a robust 15% CAGR across the forecast timeframe. High growth can be attributed to factors such as increasing consumption of junk food and sedentary lifestyle. Furthermore, smoking and increased alcohol consumption will boost the patient pool in the region. Also, the developing healthcare infrastructure, and rising disposable income will spur the market growth.
 

The Middle East and Africa genetic testing industry held market value of USD 0.2 billion in 2019. Increasing adoption of technology and government initiatives aimed at improving the healthcare infrastructure will drive the market expansion. Also, growing prevalence of metabolic diseases in the region will push adoption of genetic testing.
 

Innovative service offerings will propel the market expansion

Key market players operating in the genetic testing market share are Abbott, Siemens, Roche Diagnostics, BGI Genomics, Biocartis, Bayer Diagnostics, BioMerieux, PacBio, Sequenom, and 23andMe. These industry players are focusing on innovative service offerings, mergers, collaborations, and strategic acquisitions to increase their operations and market share.
 

Recent industry developments:

  • In April 2018, BGI Genomic launched BGI Sentis HPV, a tool for screening HPV. This HPV testing is used to screen for cervical cancer. This initiative has helped BGI expand their genetic testing portfolio and market share.
     
  • In April 2016, Cepheid announced a partnership agreement with Medline. In this agreement, Medline would distribute Cepheid’s products across facilities in the U.S market. This move has helped the company in strengthening their market penetration and consolidating revenue generation in the genetic testing space.
     

The genetic testing industry research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:

By Test Type, 2015 – 2026 (USD Million)

  • Predictive testing
  • Carrier testing
  • Prenatal and Newborn Testing
  • Diagnostic Testing
  • Pharmacogenomic testing
  • Nutrigenomics
  • Others

By Application, 2015 – 2026 (USD Million)

  • Cancer
  • Genetic diseases
  • Cardiovascular diseases
  • Others

The above information is provided for the following geographies:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Argentina
    • Mexico
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Frequently Asked Questions (FAQ) :

The genetic testing market size is estimated to exceed USD 28 billion by 2026, says a GMI report.
The Asia Pacific market is expected to exhibit over 15% CAGR during 2020 to 2026.
The genetic disease testing segment held nearly 25% market share in 2019 and will witness substantial growth over the forecast period.
According to this report, the prenatal and new-born testing segment held market value of USD 3.9 billion in 2019.

Buy Now

Single User: $5,150 Access to only 1 person; cannot be shared; cannot be printed
Multi User: $7,150 Access for 2 to 5 users only within same department of one company
Enterprise User: $9,150 Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Need a Discount? Get in touch with us for special pricing

Request Discount

Connect with our sales team

GMIPulse Subscription Trial

Take a free trial of GMIPuse, our report store; designed to provide clients a range of market research services, all on a single platform.

Start Your Free Trial

Benefits of Association

Data Coverage & Quality

GMI reports provide the most comprehensive coverage of any focus industry, ensuring a holistic and deep understanding of the market, along with actionable and granular data. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth.

Client Trust & Security

GMI maintains strict code of conduct as a business and is committed to ensure that the privacy and trust of our clients are always maintained. As an organization, we also strive to be fully compliant with privacy laws, PCI and information security guidelines.

Customer Service

Our customers rely on us to produce accurate, reliable and timely information. Service orientation is a key mission for us as an organization; our process is guided by the desire to ensure that our clients are provided the best possible solutions in optimal timeframe. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients.

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X