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Genetic Testing Market - By Test (Carrier Testing, Diagnostic Testing, Pharmacogenomic Testing), By Application (Cancer, Genetic Disease, Cardiovascular Disease), By Technology (Molecular Testing), By Region, 2023 – 2032
- Report ID: GMI2490
- Published Date: Mar 2023
- Report Format: PDF
Industry Statistics
Genetic Testing Market size was valued at over USD 18 billion in 2022 and is expected to register more than 8.5% CAGR through 2023-2032, due to growing awareness of hereditary mutations and cancer risks.
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Genetic testing is gaining momentum as a method that identifies gene mutations, a risk factor for hereditary or inherited cancer. Hereditary mutations can lead to a range of cancers such as kidney, thyroid, uterine, colon, ovarian, and breast cancer. Over the years, the prevalence of oncological and genetic diseases has risen. Based on estimates from the American Cancer Society, nearly 21.6 million new cancer cases are likely to be recorded by 2030. These factors will boost the acceptance of cancer genetic testing to confirm the diagnosis and help healthcare providers plan treatment.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 18 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 8.5% |
| 2032 Value Projection: | USD 43 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 180 |
| Tables, Charts & Figures: | 280 |
| Segments covered: | Test, Application, Technology, and Region. |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Precision medicine has emerged as a personalized approach that uses genomic data to determine drug protocols and provide high-quality patient care. Using genetic tests, personalized medicine technology can examine the effect of a particular gene mutation or variant on the risk of treatment or disease conditions. The increasing consumer interest in precision medicine will therefore create lucrative growth opportunities for genetic test developers.
Rise in adolescent pregnancy boosts prenatal & newborn genetic testing to examine abnormalities
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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.
Increasing burden of alcohol consumption will fuel demand for genetic testing for cancer diagnosis
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.
High incidence of cardiovascular health conditions to spur genetic testing in North America
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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.
Product reach expansion strategies to influence the competitive industry landscape
Some of the major players in the genetic testing market include Siemens Healthineers AG, Roche Diagnostics, Quest Diagnostics, Qiagen, Natera, Inc., Luminex Corporation, Invitae Corporation, Illumina, Inc., Eurofins Scientific, deCODE Genetics (Amgen), Cepheid (Danaher Corporation), Blueprint Genetics, Ambry Genetics (Konica MinoltabioMérieux SA), Abbott Laboratories, and 23andMe, Inc., among others. Product range and geographical expansions are among the key initiatives being undertaken by these companies to strengthen their market presence.
Genetic testing market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:
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By Test
- Predictive testing
- Carrier testing
- Prenatal and Newborn Testing
- Diagnostic Testing
- Pharmacogenomic testing
- Nutrigenomics
- Others
By Application
- Cancer Diagnosis
- Genetic diseases
- Cardiovascular diseases
- Others
By Technology
- Cytogenetic Testing
- Biochemical Testing
- Molecular Testing
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- The Netherlands
- Sweden
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Peru
- Chile
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
- Israel
- Iran
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