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Genetic Testing Market 2022 Size, Company Statistics, Trends and Top Companies Detailed Analysis by Forecast to 2028

Genetic Test Market 2022 Size, business stats, trends and top companies Detailed analysis by forecast until 2028

The genetic testing market is expected to reach $23143.42 million in 2027 at a CAGR of 11.5% over the forecast period.

Increasing incidence of blood cancer, genetic disorders, cardiovascular disease and an increase in the availability of new tests are some of the key factors driving the growth of the global genetic testing market.

Scope of the Genetic Testing Market Report:

Genetic testing is a type of medical test that detects changes in chromosomes, genes, or proteins. The results of a genetic test can confirm a suspected genetic condition and help control the chances of developing or passing on a genetic condition. Genetic testing, also known as DNA testing. Genetic testing may also include measuring the results of genetic changes, such as RNA analysis as an output of gene expression, or through biochemical analysis to measure the specific protein output. Several types of genetic tests are available to determine conditions such as predictive testing, carrier testing, prenatal and newborn testing, diagnostic testing, pharmacogenomic testing, nutrigenomics, and others. Testing in newborns can identify genetic conditions early in life so that treatment can be started as early as possible.

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The Genetic Testing market report is segmented on the basis of test type, application, and regional and country level. Based on the test type, the genetic testing market is classified into predictive testing, carrier testing, prenatal and newborn testing, diagnostic testing, pharmacogenomic testing, nutrigenomics, and others. Based on the application, the genetic testing market is classified into cancer, genetic diseases, cardiovascular diseases and others.

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Leading Genetic Testing Market Players:

  • Amber Genetics
  • IntegraGen
  • BGIA
  • Roche Diagnostics
  • Biocartis Group NV
  • Bio Helix Co. Ltd.
  • bioMerieux SA
  • Abbott
  • Blueprint Genetics
  • Quest Diagnostics
  • deCODE Genetics
  • GeneDx
  • Genomic Health Inc.
  • LabCorp (Laboratory Corporation of America Holdings)
  • Invitae Corporation
  • Luminex Corporation
  • Molecular MD
  • Myriad Genetics Inc.
  • Pacific Biosciences of California Inc.
  • Pathway Genomics Corporation
  • qiagen
  • Siemens Healthineers AG
  • HTG Molecular Diagnostics Inc.

Genetic Testing Market Segmentation

By test type:-

  • Predictive Testing
  • Test carrier
  • Prenatal and Newborn Testing
  • Diagnostic tests
  • Pharmacogenomic Testing
  • Nutrigenomics
  • others

On request: –

  • Cancer
  • genetic diseases
  • Heart and vascular disease
  • others

Genetic Testing Market Dynamics –

The increasing incidence of blood cancer, genetic disorders, cardiovascular disease and technological advancements and the availability of new tests are some of the key factors driving the growth of the global genetic testing market. According to the American Heart Association, about 2,200 Americans die from disorder every day, an average of 1 death every 40 seconds. According to the Leukemia Research Foundation, a person is diagnosed with blood cancer every three minutes. More than 175,000 new cases are expected in the United States in 2019. In addition, leukemia is diagnosed 10 times more often in adults than in children. New cases of leukemia, lymphoma and myeloma are expected to make up 10 percent of the estimated 1,762,450 new cancer cases diagnosed in the US in 2019. According to the American Cancer Society, estimates for leukemia in the United States for 2020 are about 60,530 new cases of leukemia and 23,100 deaths from leukemia across all ages, as well as about 19,940 new cases of acute myeloid leukemia in adults alone. In addition, thanks to advances in cancer research, more cancer patients treated successfully will drive the growth of the markets. However, high costs of genetic testing and a lack of skilled professionals will hinder the development of the genetic testing market. According to the National Institutes of Health, the cost of genetic testing can range from less than $100 to more than $2,000, depending on the nature and complexity of the test. However, innovations and advances in genetic testing and increasing investment in cancer research are expected to increase the opportunities for the growth of the genetic testing market.

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Regional Analysis-

North America

Europe

  • Germany, France, UK, Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, United Arab Emirates, Egypt, South Africa, Rest of MEA

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