Genetic Testing Market Size (2024 - 2029)

The genetic testing market is poised for significant growth, driven by technological advancements and an increasing focus on personalized medicine. The market's expansion is supported by the rising prevalence of chronic diseases and the development of customized testing kits. Despite the impact of the COVID-19 pandemic, which influenced prenatal testing decisions and access, the market has rebounded to pre-pandemic demand levels. Government regulations and awareness initiatives have facilitated the faster adoption of genetic tests globally. Additionally, strong R&D funding and the presence of major players create high entry barriers for newcomers, while innovations in product design and distribution partnerships are crucial for maintaining a competitive edge.

Market Size of Genetic Testing Industry

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Genetic Testing Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 19.66 Billion
Market Size (2029) USD 32.83 Billion
CAGR (2024 - 2029) 10.81 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Genetic Testing Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Genetic Testing Market Analysis

The Genetic Testing Market size is estimated at USD 19.66 billion in 2024, and is expected to reach USD 32.83 billion by 2029, growing at a CAGR of 10.81% during the forecast period (2024-2029).

The COVID-19 pandemic left a significant impact on the growth of the genetic testing market. According to the data from the March 2021 edition of the Prenatal Diagnosis Journal, the COVID-19 pandemic influenced pregnant women's decisions about prenatal genetic testing. Patients' access to and use of prenatal genetic tests was also impacted by the pandemic. However, genetic testing for COVID-19 diagnosis increased during the pandemic. Hence, COVID-19 had a significant impact on the genetic testing market. However, currently, the genetic testing market has reached pre-pandemic levels in terms of demand for genetic tests around the world and is believed to register healthy growth during the coming years.

Moreover, the increasing technological advancements over the past few years have opened several opportunities for market expansion. The rise in the prevalence of chronic diseases and the development of customized testing kits for niche therapeutic areas are aiding the rapid growth of the market. The increasing focus by governments of various countries to regulate and create awareness regarding genetic tests has successfully resulted in the faster adoption of these tests across the world. The increasing R&D funding, along with the strong market presence by major players in the market, has created a strong entry barrier for new entrants. Innovation in product design, improvement in quality, and strong distribution partnerships are key parameters to retain a competitive edge in the market. For instance, in July 2021, Avellino Labs announced the launch of AvaGen, the genetic eye test, in the United States, which is designed to help determine a patient's risk of keratoconus and other corneal dystrophies. These initiatives by key market players are anticipated to drive the growth of the market.

Additionally, with the development of technology, physicians can perform tests with better accuracy and can look at multiple genetic information at a time. Many countries are facilitating the market penetration of these novel approaches by granting market approvals. For instance, in February 2021, the United States Food and Drug Administration authorized the marketing of the first test to detect a genetic condition known as Fragile X Syndrome (FXS), one of the common causes of inherited developmental delay and intellectual disability.

Thus, the growing burden of chronic diseases, coupled with technological advancements and the inclination toward personalized medicine, is expected to significantly grow the genetic testing market over the forecast period.

Genetic Testing Industry Segmentation

A genetic test is a medical test performed to identify any changes in the DNA sequence or chromosome structure. The gene within the DNA sequence can be identified either directly through sequencing or indirectly through various genetic testing methods. 

The genetic testing market is segmented by type (carrier testing, diagnostic testing, new-born screening, predictive and presymptomatic testing, prenatal testing, and other types), Disease (Alzheimer's disease, cancer, cystic fibrosis, sickle cell anemia, Duchenne muscular dystrophy, thalassemia, Huntington's Disease, rare diseases, and other diseases), Technology (cytogenetic testing, biochemical testing, and molecular testing), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers values in USD million for the abovementioned segments.

By Type
Carrier Testing
Diagnostic Testing
New-born Screening
Predictive and Presymptomatic Testing
Prenatal Testing
Other Types
By Disease
Alzheimer's Disease
Cancer
Cystic Fibrosis
Sickle Cell Anemia
Duchenne Muscular Dystrophy
Thalassemia
Huntington's Disease
Rare Diseases
Other Diseases
By Technology
Cytogenetic Testing
Biochemical Testing
Molecular Testing
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Genetic Testing Market Size Summary

The genetic testing market is poised for substantial growth, driven by technological advancements and an increasing focus on personalized medicine. The market, which experienced disruptions due to the COVID-19 pandemic, has rebounded to pre-pandemic demand levels and is expected to continue expanding. The rise in chronic diseases and the development of customized testing kits are key factors contributing to this growth. Governments worldwide are promoting awareness and regulation of genetic tests, facilitating their adoption. Major players in the market are investing in research and development, innovation in product design, and strategic partnerships to maintain a competitive edge. These efforts are exemplified by initiatives such as Avellino Labs' launch of the AvaGen genetic eye test and the FDA's approval of tests for genetic conditions like Fragile X Syndrome.

The cancer segment of the genetic testing market is particularly poised for significant growth, driven by the increasing incidence of cancer and heightened awareness of preventive diagnosis. Genetic tests play a crucial role in identifying hereditary cancer risks and informing treatment decisions for patients unresponsive to chemotherapy. Technological advancements and new product launches, such as Myriad Genetics' MyRisk Hereditary Cancer test, are expected to propel this segment further. North America currently leads the market, supported by a high demand for personalized genetic testing and a concentration of key players engaged in research and innovation. The competitive landscape is marked by strategic alliances and product advancements by major companies like Abbott Laboratories, BioRad Laboratories Inc., and Illumina Inc., which are enhancing market rivalry and driving growth.

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Genetic Testing Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Emphasis on Early Disease Detection and Prevention

      2. 1.2.2 Growing Demand for Personalized Medicine

      3. 1.2.3 Increasing Application of Genetic Testing in Oncology

    3. 1.3 Market Restraints

      1. 1.3.1 High Costs of Genetic Testing

      2. 1.3.2 Social and Ethical Implications of Genetic Testing

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD Million)

    1. 2.1 By Type

      1. 2.1.1 Carrier Testing

      2. 2.1.2 Diagnostic Testing

      3. 2.1.3 New-born Screening

      4. 2.1.4 Predictive and Presymptomatic Testing

      5. 2.1.5 Prenatal Testing

      6. 2.1.6 Other Types

    2. 2.2 By Disease

      1. 2.2.1 Alzheimer's Disease

      2. 2.2.2 Cancer

      3. 2.2.3 Cystic Fibrosis

      4. 2.2.4 Sickle Cell Anemia

      5. 2.2.5 Duchenne Muscular Dystrophy

      6. 2.2.6 Thalassemia

      7. 2.2.7 Huntington's Disease

      8. 2.2.8 Rare Diseases

      9. 2.2.9 Other Diseases

    3. 2.3 By Technology

      1. 2.3.1 Cytogenetic Testing

      2. 2.3.2 Biochemical Testing

      3. 2.3.3 Molecular Testing

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Mexico

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Italy

        5. 2.4.2.5 Spain

        6. 2.4.2.6 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 Australia

        5. 2.4.3.5 South Korea

        6. 2.4.3.6 Rest of Asia-Pacific

      4. 2.4.4 Middle East and Africa

        1. 2.4.4.1 GCC

        2. 2.4.4.2 South Africa

        3. 2.4.4.3 Rest of Middle East and Africa

      5. 2.4.5 South America

        1. 2.4.5.1 Brazil

        2. 2.4.5.2 Argentina

        3. 2.4.5.3 Rest of South America

Genetic Testing Market Size FAQs

The Genetic Testing Market size is expected to reach USD 19.66 billion in 2024 and grow at a CAGR of 10.81% to reach USD 32.83 billion by 2029.

In 2024, the Genetic Testing Market size is expected to reach USD 19.66 billion.

Genetic Testing Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)