What Is The Forecast Valuation Of The Global Genetic Testing Services Market Projected To Reach $31.64 Billion By 2029?
Claim your 20% discount on Global Market Reports with code ONLINE20. Limited time only.
How Will The Genetic Testing Services Market Valuation Change Between Now And 2029?
The market size of genetic testing services has seen substantial growth in recent years. It’s projected to increase from $19.19 billion in 2024 to $21.36 billion in 2025, with a compound annual growth rate (CAGR) of 11.3%. The growth observed in the historic period is linked to the escalating demand for personalized and precision medicine, the widespread occurrence of genetic disorders, a heightened demand for prenatal testing throughout pregnancy, an escalating population, and the rise in awareness and education.
The market for genetic testing services is predicted to experience swift expansion in the upcoming years, escalating to $31.64 billion by the year 2029, represented by a compound annual growth rate (CAGR) of 10.3%. This growth over the predicted period can be connected to factors including the rise in preference for non-invasive prenatal testing (NIPT), the emergence of pharmacogenomics, an increased emphasis on preventive healthcare, more prevalent direct-to-consumer (DTC) testing, and focus on rare diseases coupled with personalized treatments. The projection term is also expected to witness trends in areas like artificial intelligence (AI) and machine learning, progress in customer-friendly testing kits and online platforms, next-gen sequencing techniques, microarray analysis, polymerase chain reaction (PCR) techniques and the development of healthcare infrastructure.
Get A Free Sample Of The Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=15385&type=smp
What Underlying Factors Are Supporting The Genetic Testing Services Market Growth?
The growth of the genetic testing services market is set to be fueled by the rising occurrence of genetic disorders. These are conditions that arise due to abnormalities in a person’s DNA, resulting in either physical or developmental abnormalities. The surge in genetic disorders can be traced back to factors such as heightened awareness, advanced diagnostic approaches, enhanced genetic screening, and the prevalence of consanguineous marriages in certain demographics. Genetic testing services are becoming more essential in defining diagnoses, forecasts, and treatment options for people with genetic disorders. This allows for personalized healthcare and family planning based on a person’s genetic profile. For example, in February 2023, the World Health Organization (WHO), a specialized agency of the United Nations based in Switzerland tasked with maintaining international public health, reported that globally, congenital diseases led to an estimated 240,000 infant deaths within 28 days of their birth annually. Further, the Centers for Disease Control and Prevention, a government agency from the US, indicated that about 6,000 babies are born with Down syndrome in the US every year, equating to approximately 1 in 700 babies. Consequently, the escalating occurrence of genetic disorders provides a spur for the genetic testing services market.
Which Sub-Segments Are Driving Growth Within The Genetic Testing Services Market?
The genetic testing servicesmarket covered in this report is segmented –
1) By Type: Predictive Testing; Carrier Testing; Prenatal Testing; Newborn Screening; Other Types
2) By Disease: Cancer Disease; Metabolic Disease; Cardiovascular Disease; Other Diseases
3) By End User: Diagnostic Laboratories; Hospitals And Clinics; Academic Institutes And Research Centers; Other End Users
Subsegments:
1) By Predictive Testing: Cancer Predisposition Testing; Heart Disease Risk Testing; Neurological Disorder Risk Testing; Other Predictive Tests
2) By Carrier Testing: Carrier Screening For Single-Gene Disorders; Carrier Screening For Multifactorial Conditions; Carrier Screening For Inherited Genetic Conditions; Other Carrier Tests
3) By Prenatal Testing: Non-Invasive Prenatal Testing (NIPT); Amniocentesis; Chorionic Villus Sampling (CVS); Ultrasound-Combined Genetic Testing; Other Prenatal Tests
4) By Newborn Screening: Metabolic Disorder Screening; Genetic Disorder Screening; Hearing Loss Screening; Endocrine Disorder Screening; Other Newborn Screening Tests
5) By Other Types: Pharmacogenetic Testing; Forensic Genetic Testing; Ancestry And Genetic Genealogy Testing; Paternity Testing; Other Specialized Genetic Tests
What Future-Focused Trends Are Anticipated In The Genetic Testing Services Market?
Prominent organizations in the genetic testing services sector are centralizing their efforts towards creating cutting-edge technological solutions, such as cancer screening tests, to increase precision, broaden their testing services, and boost overall patient results. Cancer screening tests are regular, systematic examinations done on asymptomatic individuals to spot early indications of cancer. The aim of these tests is to recognize cancer or conditions that might turn cancerous before symptoms show up, which makes treatments more successful. For example, Prenetics Group Limited, a diagnostic and genetic testing firm from Hong Kong, introduced ColoClear, a non-invasive stool DNA test in Hong Kong in June 2022. This screening approach, highly sensitive in identifying early signs of colorectal cancer, merges advanced stool DNA technology with a fecal immunochemical test (FIT), presenting a practical and effective alternative to colonoscopy. ColoClear displayed a 96% sensitivity in colorectal cancer detection and a 64% sensitivity in advanced adenoma detection in clinical trials.
Which Companies Hold A Competitive Edge In The 961 Market?
Major companies operating in the genetic testing services market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics Incorporated, Eurofins Scientific SE, SGS SA, Agilent Technologies, Hologic Inc., Illumina Inc., PerkinElmer Inc., bioMérieux SA, Bio-Rad Laboratories Inc., QIAGEN N.V., Natera Inc., Myriad Genetics Inc., BGI Genomics Co. Ltd., Invitae Corporation, NeoGenomics Laboratories Inc., 23andMe Holding Co, Berry Genomics Co. Ltd., Pacific Biosciences of California Inc., Ambry Genetics Corporation, Biocartis SA, CENTOGENE N.V., Blueprint Genetics Oy, Igenomix, Veritas Genetics
Access The Complete Report Here:
https://www.thebusinessresearchcompany.com/report/genetic-testing-services-global-market-report
Which Region Dominates The Genetic Testing Services Market Today?
North America was the largest region in the genetic testing services market in 2024. The regions covered in the genetic testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Customize Your Report Here:
https://www.thebusinessresearchcompany.com/customise?id=15385&type=smp
Browse Through More Reports Similar to the Global Genetic Testing Services Market 2025, By The Business Research Company
Genetic Testing Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/genetic-testing-global-market-report
Direct To Consumer Dtc Genetic Testing Global Market Report 2025
Prenatal And Newborn Genetic Testing Global Market Report 2025
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Get in touch with us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
