Market Size of Asia-Pacific Genetic Testing Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 4.35 Billion |
Market Size (2029) | USD 7.63 Billion |
CAGR (2024 - 2029) | 11.90 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Genetic Testing Market Analysis
The Asia-Pacific Genetic Testing Market size is estimated at USD 4.35 billion in 2024, and is expected to reach USD 7.63 billion by 2029, growing at a CAGR of 11.90% during the forecast period (2024-2029).
The COVID-19 pandemic is expected to have a significant impact on market growth. Biopharmaceutical innovators are at the forefront of the human response to the coronavirus pandemic. A significant number of major biotech firms are in a race to investigate the Sars-Cov-2 genome and prepare a viable vaccine for the same. As compared to the speed of response to SARS/MERs, etc., the biotech entities are investigating SARs-Cov-2 at an unprecedented rate, and a considerable amount of funds are being put into the R&D. For instance, in May 2021, Sanofi, a French-based pharmaceutical giant and Britain's GSK reported the start of phase 3 of a clinical study for COVID vaccine across the world, with sites in the Asia-Pacific region too. The vaccine will be based on recombinant DNA technology.
A study titled, 'Genetic testing and serological screening for SARS-CoV-2 infection in a COVID-19 outbreak in a nursing facility in Japan', was published in March 2021 in BMC Infectious Diseases. The study found that thorough PCR testing, in combination with comprehensive and separate genetic tests, is critical for managing COVID-19 outbreaks in nursing facilities. Serological testing is also beneficial for tracing contacts, confirming the number of infected individuals, and authorizing the termination of the outbreak. Thus, these developments are expected to boost market growth.
Certain factors that are driving the market growth include a growing demand for personalized medicine and the increased application of genetic testing in oncology. The diagnostic and pharmaceuticals sector in the Asia-Pacific region has gained momentum, owing to speedy adoption and rising technological advancements. This has resulted in the adoption of personalized medicine across the region.
Use of genetic tests for breast cancer diagnosis is gaining momentum. Women with certain BRCA1 or BRCA2 gene variations ((both of which are inherited) have up to an 85 percent lifetime chance of developing breast cancer, compared to a 13 percent chance among the general female population. Women with harmful BRCA1 and BRCA2 mutations also have up to a 39 and 17 percent chance, respectively, of developing ovarian cancer, compared with a 1.3 percent chance among the general female population. Thus, BRCA1 and BRCA2 genetic tests can guide preventive measures, such as prophylactic surgery, chemoprevention, and more frequent mammography. Increase in prevalence of breast cancer across Asian countries is a cause of concern. According to Globacan 2020, the number of new breast cancer cases diagnosed in China alone was 416,371. Thus, the demand for genetic tests is increased due to a greater emphasis in medicine from reaction to diagnosis of the disease.
Asia Pacific Genetic Testing Industry Segmentation
A genetic test is a test performed to identify the presence of a particular gene or set of genes, with a particular sequence of the genome. The genes can be identified either directly through sequencing or indirectly through various methods. Genetic testing practices are rapidly increasing in rare disease diagnostics and for personalized medicines, which is driving the growth of this market.
The Asia Pacific Genetic Testing Market is Segmented by Type (Carrier Testing, Diagnostic Testing, Newborn Screening, Predictive and Presymptomatic Testing, Prenatal Testing, Other Types), Disease (Alzheimer's Disease, Cancer, Cystic Fibrosis, Sickle Cell Anemia, Thalassemia, Rare Diseases, Other Diseases), Technology (Cytogenetic Testing, Biochemical Testing, Molecular Testing), and Geography (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific). The report offers the value (in USD million) for the above segments.
By Type | |
Carrier Testing | |
Diagnostic Testing | |
Newborn Screening | |
Predictive and Presymptomatic Testing | |
Prenatal Testing | |
Other Types |
By Disease | |
Alzheimer's Disease | |
Cancer | |
Cystic Fibrosis | |
Sickle Cell Anemia | |
Thalassemia | |
Rare Diseases | |
Other Diseases |
By Technology | |
Cytogenetic Testing | |
Biochemical Testing | |
Molecular Testing |
Geography | |
China | |
Japan | |
India | |
Australia | |
South Korea | |
Rest of Asia-Pacific |
Asia-Pacific Genetic Testing Market Size Summary
The Asia-Pacific genetic testing market is poised for significant growth, driven by advancements in personalized medicine and the increasing application of genetic testing in oncology. The market is experiencing a surge in demand due to the rising prevalence of genetic abnormalities and the growing awareness of non-invasive prenatal screening. The COVID-19 pandemic has further accelerated market expansion, with biopharmaceutical companies investing heavily in research and development to understand the SARS-CoV-2 genome and develop vaccines. This has led to increased adoption of genetic testing for various applications, including breast cancer diagnosis and prenatal testing, particularly in countries like China and India. The implementation of Non-Invasive Prenatal Testing (NIPT) in China and the growing acceptance of genetic testing in obstetrics are expected to contribute to market growth in the region.
The competitive landscape of the Asia-Pacific genetic testing market is characterized by the presence of major players such as Abbott Laboratories Inc., Bio-Rad Laboratories Inc., Myriad Genetics Inc., Genomic Health Inc., and Mapmygenome, who currently hold substantial market shares. However, technological advancements and product innovations are enabling mid-size to smaller companies to expand their market presence by offering new solutions at competitive prices. Strategic investments, such as Fulgent Genetics' partnership with FF Gene Biotech to enhance Next Generation Sequencing capabilities in China, highlight the dynamic nature of the market. Despite challenges like high costs in developing countries, the market is expected to continue its upward trajectory, supported by the increasing number of cancer cases and the rapid growth of IVF techniques in the region.
Asia-Pacific Genetic Testing Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Emphasis on Early Disease Detection and Growing Demand for Personalized Medicine
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1.2.2 Increasing Application of Genetic Testing in Oncology
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1.3 Market Restraints
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1.3.1 High Costs of Genetic Testing
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1.3.2 Social and Ethical Implications of Genetic Testing
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Carrier Testing
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2.1.2 Diagnostic Testing
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2.1.3 Newborn Screening
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2.1.4 Predictive and Presymptomatic Testing
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2.1.5 Prenatal Testing
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2.1.6 Other Types
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2.2 By Disease
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2.2.1 Alzheimer's Disease
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2.2.2 Cancer
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2.2.3 Cystic Fibrosis
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2.2.4 Sickle Cell Anemia
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2.2.5 Thalassemia
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2.2.6 Rare Diseases
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2.2.7 Other Diseases
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2.3 By Technology
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2.3.1 Cytogenetic Testing
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2.3.2 Biochemical Testing
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2.3.3 Molecular Testing
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2.4 Geography
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2.4.1 China
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2.4.2 Japan
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2.4.3 India
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2.4.4 Australia
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2.4.5 South Korea
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2.4.6 Rest of Asia-Pacific
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Asia-Pacific Genetic Testing Market Size FAQs
How big is the Asia-Pacific Genetic Testing Market?
The Asia-Pacific Genetic Testing Market size is expected to reach USD 4.35 billion in 2024 and grow at a CAGR of 11.90% to reach USD 7.63 billion by 2029.
What is the current Asia-Pacific Genetic Testing Market size?
In 2024, the Asia-Pacific Genetic Testing Market size is expected to reach USD 4.35 billion.