Dublin, July 7, 2023 (GLOBE NEWSWIRE) — The report “Genetic Testing: Global Strategic Business Report” has been added to ResearchAndMarkets.com offer.
The global genetic testing market, estimated at USD 12 billion in 2022, is projected to reach a revised USD 24.8 billion by 2030, growing at a CAGR of 9.5% over the analysis period 2022-2030 .
Prenatal & Newborn, one of the segments analyzed in the report, is expected to grow at a CAGR of 9.7% and reach $8.4 billion by the end of the analysis period.
Taking into account the ongoing post-pandemic recovery, growth in the diagnostics segment is readjusted to a revised CAGR of 9% for the next 8-year period.
US market is valued at $5.1 billion, while China is expected to grow at 11.7% CAGR
The genetic testing market in the United States is estimated at $5.1 billion in 2022. China, the world’s second-largest economy, is projected to reach a projected market size of $2 billion by 2030, with a CAGR of 11.7% compared to the analysis period from 2022 to 2030.
Other notable geographic markets include Japan and Canada, each of which expect growth of 8% and 9.7% respectively over the period 2022-2030. In Europe, Germany is expected to grow at around 8.2% CAGR.
Select Competitors (Total 249 Featured) –
- 23eMe, Inc.
- Laboratories Abbott
- AutoGenomics, Inc.
- Biocartis NV
- BioRad laboratories
- Cepheid Inc.
- ELI Tech Group SAS
- Illumina, Inc.
- Laboratory Corporation of America Holdings
- Luminex Corporation
- natera, inc.
- PerkinElmer, Inc.
- QIAGEN NV
- Quest Diagnostics, Inc.
- Roche Diagnostic AG
- Roche Molecular Diagnostics, Inc.
- Thermo Fisher Scientific Inc.
Key Attributes:
| Ratio attribute | Details |
| No. of pages | 573 |
| Forecast period | 2022 – 2030 |
| Estimated market value (USD) in 2022 | $12 billion |
| Projected market value (USD) by 2030 | $24.8 billion |
| Compound annual growth rate | 9.5% |
| Regions Covered | Global |
Main topics covered:
I. METHODOLOGY
II. SYNTHESIS
1. MARKET OVERVIEW
- Influencer Market Insights
- Trajectories of the world market
- Impact of Covid-19 and looming global recession
- Genetic Testing – Global Percentage Market Share of Major Competitors in 2021 (E)
- Competitive Market Presence: Strong/Active/Niche/Common for Gamers Worldwide in 2021 (E)
- A prelude to genetic testing
- Top ten genetic diseases worldwide
- Different types of genetic tests include
- Prenatal and newborn screening
- Diagnostic tests
- Predictive and presymptomatic tests
- Carrier identification
- Pharmacogenomic tests
- List of genetic diseases by event, genetic manifestation and prevalence
- Genetic test delivery patterns
- Genetic sequencing approaches
- Genetic Testing Market Witnessing Slow Growth During COVID-19, Set to Experience Exponential Growth Post-COVID
- Expanding Applications to Lead the Genetic Testing Market
- Regional landscape
- The prenatal testing market is on the rise
- Market prospects
2. FOCUS ON SELECTED PLAYERS
3. MARKET TRENDS AND DRIVERS
- Studies indicate a possible correlation between genetic variations related to immunity and the severity of COVID-19
- SECTOR ANALYSIS
- Prenatal Testing – Changing the world of pregnancy care
- List of diagnostic and prenatal screening tests available by indication
- Players in the prenatal and neonatal genetic testing market
- Conventional invasive prenatal diagnostic techniques: a risky business
- Emergency non-invasive prenatal diagnosis (NIPD)
- Competition intensifies in the NIPD market
- Select commercially available NIPD (genetic) tests for aneuploidy in the United States
- Resource strain prevents wide adoption of extended carrier sequencing
- Predictive diagnostics
- The market for breast cancer genetic testing will expand strongly
- Myriad Genetics – A leader in breast cancer testing
- Discovery of new biomarkers crucial for predictive diagnostics
- The development of pharmacogenomics favors the growth of the genetic testing market
- MARKET TRENDS AND GROWTH DRIVERS
- Genetic testing paves the way for personalized medicine
- Next Generation Sequencing (NGS): A giant leap in genome sequencing
- The discovery of biomarkers leads to advanced genetic testing
- Select List of available tumor markers
- Immense popularity of ancestry tests
- More attention to data churning
- Genetic testing to explode into provider workflow with intriguing use cases
- Primary factors responsible for declining interest in direct-to-consumer genetic testing
- Liquid biopsy to aid in the diagnosis and treatment of cancer
- Hybrid Labs to bridge the gap between traditional and DTC models
- The increasing prevalence of cancer and chromosomal disorders increases the demand for cell-free DNA testing
- Birth of the rapid DNA test
- Oncology: A key focus area for genetic testing
- Global cancer incidence: Number of new cancer cases in millions for the years 2018, 2020, 2025, 2030, 2035 and 2040
- Population aging to drive demand for genetic testing
- Aging Population Expansion Worldwide: Breakdown of the number of people over the age of 65 in millions by geographic region for the years 2019 and 2030
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report, please visit https://www.researchandmarkets.com/r/8pcxy3
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Global genetic testing market
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