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Genetic Testing Market Analysis
- Report ID: GMI2490
- Published Date: Mar 2023
- Report Format: PDF
Genetic Testing Market Analysis
In terms of test, the genetic testing market from the prenatal & newborn testing segment reached over USD 5 billion in 2022, considering the mounting prevalence of fetal chromosomal abnormalities. Such abnormalities can lead to the development of congenital abnormalities, Down syndrome, or possibly miscarriage. In low- and middle-income countries, the rate of adolescent pregnancy has also surged in recent years, further exacerbating these risk factors. These trends are likely to promote the use of prenatal genetic testing to identify chromosomal problems and other pregnancy-related abnormalities in newborn or prenatal babies.
Genetic testing market share from the cancer diagnosis segment will depict over 9% through 2023-2032, owing to the rise in alcohol dependence. Global events such as the COVID-19 pandemic have led to a spike in heavy drinking, drastically widening the scope of alcohol misuse and related health consequences. Since alcohol consumption is a prominent risk factor for cancer, the rate of genetic testing for cancer diagnosis is likely to grow. Likewise, high awareness regarding the availability of quality cancer diagnostic tests and the escalating incidence of hereditary diseases will drive the industry demand.
North America accounted for over 53% share of the genetic testing market in 2022, on account of the high burden of cardiovascular diseases. Moreover, the escalating number of elderly people prone to heart conditions will bolster the rate of genetic testing for inherited CVD diagnosis. Patients are also becoming more aware of the merits of early disease diagnosis, further strengthening the regional market outlook.
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Genetic Testing Market Scope
