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Genetic Testing Market Size is Forecasted to Reach US$ 15.8 Billion by 2030

The global genetic testing market size is forecasted to reach from US$ 8 billion in 2021 to US$ 15.8 billion by 2030, growing at a CAGR of 7.6% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The genetic testing market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.

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The rising prevalence of chronic diseases and technological advancements resulted in the development of efficient and innovative genetic testing kits. The rising awareness regarding the benefits of genetic testing among the global population is boosting the adoption of the genetic testing. Furthermore, the growing geriatric population across the globe is expected to drive the demand for the genetic testing as old age people are prone to the chronic diseases.

According to the United Nations, there were around 382 million old age people, aged 60 years or above, across the globe in 2017 ad this number is expected 2.1 billion by 2050. The presence of numerous top market players and their heavy investments in the research & development activities has encouraged innovation in the product design, improved distribution, and enhanced quality of the products. The increasing popularity of the online DNA testing kit providers such as Ancestry.com and 23andme.com is fueling the sales of the genetic testing kits.

The rising popularity of the direct-to-consumer channels and increased adoption of self-testing kits is expected to drive the growth of the global genetic testing market during the forecast period. Furthermore, the increased disposable income, rising consumer expenditure on healthcare, technological advancements, growing government initiatives to spread the awareness regarding genetic testing, and easy availability of genetic testing services are the major factors that drives the growth of the genetic testing market across the globe.

Report Scope of the Genetic Testing Market

Report Highlights Details
Market Size USD 15.8 Billion by 2030
Growth Rate CAGR of 7.6% From 2021 to 2030
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Disease, Test Type, Region

Competitive Intelligence

The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.

Some of the prominent players in the global genetic testing market are listed as below:

  • Genentech Inc.
  • Sorenson Genomics, LLC
  • Abbott Molecular
  • Bayer Diagnostics
  • Biocartis
  • BioHelix
  • Celera Genomics
  • Genomic Health
  • HTG Molecular Diagnostics
  • PacBio

North America dominated the market in 2020. This is due to the increased awareness regarding the benefits of genetic testing, increased consumer expenditure on healthcare, growing geriatric population, and increased prevalence of chronic diseases in the region. Furthermore, the increased popularity of self-testing kits through online websites in the nation like US has boosted the adoption of the genetic testing kits among the population. The aggressive marketing strategies adopted by the online test kit providers is playing a crucial role in spreading the awareness. For instance, Ancestry.com invested around US$ 109.0 million on TV ads in US, in 2016. 23andme.com spent US$ 21 million on TV ads. All these factors have significantly boosted the growth of the genetic testing market in North America.

Asia Pacific is expected to register a significant growth rate during the forecast period. This is due to the rising government initiatives to spread the awareness regarding the genetic testing. The increased disposable income, increased healthcare expenditure, increasing prevalence of chronic diseases are the major factors that are expected to boost the market growth in this region.

The lack of awareness and low disposable income in the developing and underdeveloped nation is a major restraining factor that can hamper the market growth during the forecast period. Moreover, lack of proper healthcare infrastructure in the underdeveloped nations is major disadvantage faced by the genetic testing market.

The rising popularity of self-testing or do it yourself testing is the latest trend in the market. Various sellers of the genetic testing kits are offering the testing kits with home delivery option which is making the adoption of the genetic testing kits affordable and convenient.

Based on the test type, the prenatal & newborn testing segment is expected to be the fastest-growing segment during the forecast period. This is attributed to the increased demand for people in the developed countries to identify any health complications in the prenatal or the new born babies. The prenatal screening helps in identification of various health conditions such as down syndrome.

Based on the disease, the cancer segment dominated the market in 2020. This is simply attributed to the rising prevalence of various cancer diseases among the population such as breast cancer, lungs cancer, bowel cancer, and womb cancer. According to the International Agency for Research on Cancer, in 2020, around 19.3 million new cancer cases and 10 million cancer deaths were reported across the globe. The global cancer cases are estimated to grow by 47% from 2020 to 2040. It is expected that 28.4 million cases will be recorded in 2040, globally. Hence the rising cases of cancer is expected to sustain the dominance of this segment throughout the forecast period.

In August 2020, Guardant Health acquired the approval from FDA for its Guardant 360 CDx. The various developmental strategies like acquisition, partnerships, mergers, and government policies fosters market growth and offers lucrative growth opportunities to the market players.

Segments Covered in the Report

By Test Type

  • Carrier Testing
  • Predictive Testing
  • Diagnostic Testing
  • Prenatal & Newborn Testing
  • Nutrigenomics
  • Pharmacogenomics
  • Others

By Disease

  • Cancer
  • Alzheimer’s
  • Thalassemia
  • Cystic Fibrosis
  • Huntington’s Disease
  • Duchenne Muscular Dystrophy
  • Other Diseases

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Genetic Testing Market 

5.1. COVID-19 Landscape: Genetic Testing Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Genetic Testing Market, By Test

8.1. Genetic Testing Market, by Test Type, 2021-2030

8.1.1. Carrier Testing

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Predictive Testing

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Diagnostic Testing

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Prenatal & Newborn Testing

8.1.4.1. Market Revenue and Forecast (2019-2030)

8.1.5. Nutrigenomics

8.1.5.1. Market Revenue and Forecast (2019-2030)

8.1.6. Pharmacogenomics

8.1.6.1. Market Revenue and Forecast (2019-2030)

8.1.7. Others

8.1.7.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Genetic Testing Market, By Disease

9.1. Genetic Testing Market, by Disease, 2021-2030

9.1.1. Cancer

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Alzheimer’s

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Thalassemia

9.1.3.1. Market Revenue and Forecast (2019-2030)

9.1.4. Cystic Fibrosis

9.1.4.1. Market Revenue and Forecast (2019-2030)

9.1.5. Huntington’s Disease

9.1.5.1. Market Revenue and Forecast (2019-2030)

9.1.6. Duchenne Muscular Dystrophy

9.1.6.1. Market Revenue and Forecast (2019-2030)

9.1.7. Others

9.1.7.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Genetic Testing Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Test (2019-2030)

10.1.2. Market Revenue and Forecast, by Disease (2019-2030)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Test (2019-2030)

10.1.3.2. Market Revenue and Forecast, by Disease (2019-2030)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Test (2019-2030)

10.1.4.2. Market Revenue and Forecast, by Disease (2019-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Test (2019-2030)

10.2.2. Market Revenue and Forecast, by Disease (2019-2030)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Test (2019-2030)

10.2.3.2. Market Revenue and Forecast, by Disease (2019-2030)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Test (2019-2030)

10.2.4.2. Market Revenue and Forecast, by Disease (2019-2030)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Test (2019-2030)

10.2.5.2. Market Revenue and Forecast, by Disease (2019-2030)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Test (2019-2030)

10.2.6.2. Market Revenue and Forecast, by Disease (2019-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Test (2019-2030)

10.3.2. Market Revenue and Forecast, by Disease (2019-2030)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Test (2019-2030)

10.3.3.2. Market Revenue and Forecast, by Disease (2019-2030)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Test (2019-2030)

10.3.4.2. Market Revenue and Forecast, by Disease (2019-2030)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Test (2019-2030)

10.3.5.2. Market Revenue and Forecast, by Disease (2019-2030)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Test (2019-2030)

10.3.6.2. Market Revenue and Forecast, by Disease (2019-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Test (2019-2030)

10.4.2. Market Revenue and Forecast, by Disease (2019-2030)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Test (2019-2030)

10.4.3.2. Market Revenue and Forecast, by Disease (2019-2030)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Test (2019-2030)

10.4.4.2. Market Revenue and Forecast, by Disease (2019-2030)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Test (2019-2030)

10.4.5.2. Market Revenue and Forecast, by Disease (2019-2030)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Test (2019-2030)

10.4.6.2. Market Revenue and Forecast, by Disease (2019-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Test (2019-2030)

10.5.2. Market Revenue and Forecast, by Disease (2019-2030)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Test (2019-2030)

10.5.3.2. Market Revenue and Forecast, by Disease (2019-2030)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Test (2019-2030)

10.5.4.2. Market Revenue and Forecast, by Disease (2019-2030)

Chapter 11. Company Profiles

11.1. Genentech Inc.

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Sorenson Genomics, LLC

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Abbott Molecular

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Bayer Diagnostics

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Biocartis

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. BioHelix

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Celera Genomics

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. Genomic Health

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. HTG Molecular Diagnostics

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. PacBio

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

Why should you invest in this report?

If you are aiming to enter the global genetic testing market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for genetic testing are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable. 

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