The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s DNA Diagnostics Global Market Report 2024, the DNA diagnostics market is expected to show significant growth in the forecast period.

The DNA diagnostics market has experienced significant growth in recent years and is poised for continued expansion. Here’s a comprehensive look at the factors driving this growth and the trends shaping the future of this dynamic market.

Current Market Growth

The DNA diagnostics market has been expanding rapidly due to several key factors.

• Market Size Increase: From $20.90 billion in 2023 to $23.10 billion in 2024, growing at a CAGR of 10.5%.
• Key Drivers: Rising demand for personalized medicine, increased adoption of genetic testing and molecular diagnostics in clinical practice, rising biomedical research, increasing cancer cases, and growing use of diagnostic tests.

Future Market Projections

The market is expected to maintain its rapid growth trajectory over the next few years, driven by advancements in medical technology and healthcare practices.

• Projected Growth: Expected to reach $34.90 billion by 2028, with a CAGR of 10.9%.
• Growth Drivers: Increasing prevalence of cancers, demand for standardized diagnostic tests, rising genetic disorders, focus on biomarker discovery, and growth of telemedicine and remote testing.

View More On The DNA Diagnostics Market Report 2024 – https://www.thebusinessresearchcompany.com/report/dna-diagnostics-global-market-report

Rising Prevalence of Genetic Disorders

The increasing prevalence of genetic disorders is a major factor propelling the growth of the DNA diagnostics market.

• Genetic Disorders: Health problems caused by abnormalities in the genome.
• Impact: Expanded diagnostic capabilities, increased genetic testing, environmental influences, and consanguinity within populations have led to greater detection and understanding of genetic disorders.
• Statistics: According to the World Health Organization, congenital diseases caused an estimated 240,000 baby deaths globally within 28 days of birth each year, with an additional 170,000 children aged 1 month to 5 years dying due to congenital diseases.

Key Players in the Market

Several major companies are leading the charge in the DNA diagnostics market, developing innovative products and expanding their capabilities.

• Major Companies: F. Hoffmann-La Roche Ltd., Bayer AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Becton, Dickinson and Company, Laboratory Corporation, Quest Diagnostics Incorporated, Eurofins Scientific SE, Agilent Technologies, Illumina Inc., PerkinElmer Inc., and more.

Liquid Biopsy Innovations for Early Cancer Detection

Innovative products like liquid biopsy tests are transforming early cancer detection, a crucial area in DNA diagnostics.

• Liquid Biopsy: A minimally invasive test that detects and analyzes biomarkers released into the bloodstream from tumors.
• Example: In May 2023, Laboratory Corporation launched LabCorp Plasma Focus, a liquid biopsy test for identifying targeted therapies for patients with advanced or metastatic solid tumors, utilizing genetic sequencing of cfDNA.

Myriad Genetics Expands Consumer Access to Genetic Testing

Strategic acquisitions are helping companies enhance their genetic testing capabilities and expand their market presence.

• Acquisition Details: In November 2022, Myriad Genetics acquired Gateway Genomics for approximately $67.5 million.
• Impact: Expands Myriad’s capabilities in women’s health and oncology testing, providing more comprehensive and personalized genetic testing solutions.

Market Segmentation

The DNA diagnostics market is diverse, segmented by product type, technology, application, and end user.

1. By Product Type
   • Instruments
   • Reagents
   • Software and Services
2. By Technology
   • Polymerase Chain Reaction
   • Microarray
   • In-situ Hybridization
   • Sequencing Technology
   • Mass Spectrometry
3. By Application
   • Oncology
   • Infectious Diseases Treatment
   • Myogenic Disorder Treatment
   • Clinical Diagnostic Confirmation
   • Prenatal
   • Pre-Implantation
   • Other Applications
4. By End User
   • Point of Care
   • Diagnostic Centers
   • Self-Testing or Over-The-Counter (OTC)

Regional Insights

The DNA diagnostics market shows significant regional variations, with North America leading in 2023 and Asia-Pacific expected to grow rapidly.

• North America: Largest market in 2023, driven by advanced healthcare infrastructure and high adoption rates of new technologies.
• Asia-Pacific: Expected to be the fastest-growing region due to increasing healthcare investments and rising awareness of genetic diagnostics.

Conclusion

The DNA diagnostics market is on a strong growth trajectory, driven by advancements in personalized medicine, technological innovations, and strategic industry moves. As healthcare providers increasingly adopt DNA diagnostics for enhanced accuracy and early detection, this market is set to expand significantly, offering innovative products and services tailored to meet evolving healthcare needs.

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