Understanding Key Drivers and Growth Opportunities in the Genetic Testing Services Market: Trends and Market Size Insights
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Major Innovations Are Driving the Accelerated Growth of the Genetic Testing Services Market?
The escalating occurrence of genetic conditions is set to spur the expansion of the genetic testing services market in the future. Genetic conditions result from changes in a person’s DNA, which cause physical or developmental anomalies. The growth in genetic conditions is linked to elements such as enhanced awareness, advanced diagnostic strategies, broad genetic examination, and the burgeoning pattern of inbreeding in particular communities. Genetic testing services have found increasing application in diagnosing, predicting, and making treatment choices for those with genetic issues, allowing for bespoke medical care and family planning methods based on a person’s genetic structure. For example, the World Health Organisation, a Switzerland-based UN agency for international public health, reported in February 2023 that congenital illnesses lead to approximately 240,000 global newborn deaths within 28 days of birth per annum. Furthermore, the Centers for Disease Control and Prevention, a US government agency, states that about 6,000 babies born each year in the United States have Down syndrome, or roughly 1 in every 700 babies. As such, the increasing incidence of genetic conditions is fuelling the growth of the genetic testing services market.
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#What is the Growth Potential of the Genetic Testing Services Market, and How Will It Perform by 2034?
The market size for genetic testing services has expanded at a quick pace in recent years. Its size is projected to elevate from $19.19 billion in 2024 to $21.42 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.6%. The growth during the historical period can be linked to the escalating demand for personalized and precision medicines, a surge in the presence of genetic disorders, a high demand for prenatal testing during pregnancy, growth in population, and heightened awareness and education.
The market size of genetic testing services is predicted to experience a swift rise in the coming years, anticipated to reach a valuation of $32.77 billion in 2029, growing at a compound annual growth rate of 11.2%. This estimated growth during the forecast period can be linked to the rising demand for non-invasive prenatal testing (NIPT), the emergence of pharmacogenomics, the increasing emphasis on preventive healthcare, a surge in direct-to-consumer (DTC) testing, and a shift towards rare disease research and customized therapies. The forecast period is expected to see widespread trends like artificial intelligence (AI) and machine learning, improvements in user-friendly testing kits and digital platforms, advancements in next-generation sequencing, microarray analysis, polymerase chain reaction (PCR), and enhanced healthcare infrastructure.
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What Are the Most Significant Market Trends Transforming theGenetic Testing Services Market?
Major firms in the genetic testing services sector are honing their focus on devising state-of-the-art technological solutions like cancer screening tests. The aim is to enhance the level of accuracy, broaden testing capacities, and ultimately improve patient outcomes. Such screening tests for cancer are done periodically in healthy individuals to detect any early warning signs of cancer. The ultimate goal is to discover cancer or precancerous states before symptoms develop, increasing the efficacy of treatment. For example, Prenetics Group Limited, a diagnostic and genetic testing firm based in Hong Kong, rolled out ColoClear, a non-invasive stool DNA test in Hong Kong in June 2022. ColoClear, a highly sensitive screening technique for early detection of colorectal cancer signs, blends advanced stool DNA technology with a fecal immunochemical test (FIT), thereby offering a practical and efficient substitute for colonoscopy. Clinical studies reveal that ColoClear test exhibited 96% sensitivity in colorectal cancer detection and 64% in advanced adenoma recognition.
What Are the Top Market Players Propelling the Growth of theGenetic Testing Services Industry?
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
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Which Primary Segments of the Genetic Testing Services Market Are Driving Growth and Industry Transformations?
The genetic testing services market 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
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Which Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Genetic Testing Services Market?# Market?
North America was the largest region in the genetic testing services market in 2023. The regions covered in the genetic testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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