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

According to The Business Research Company’s DNA Testing Global Market Report 2024, the DNA testing market is expected to show promising growth in the forecast period.

The DNA testing market has seen significant growth in recent years, driven by various factors and innovations. This blog explores the current market status, future projections, and key trends shaping the industry.

Current Market Growth
The DNA testing market is on a robust growth trajectory.

• Market Size Increase: From $16.04 billion in 2023 to $17.9 billion in 2024, with a CAGR of 11.6%.
• Key Drivers: Increasing incidence of chronic diseases, rising demand for precision medicine, growing direct-to-consumer (DTC) testing, expanding population genomics, enhanced forensic investigations, and higher demand for genetic screening.

Future Market Projections
The market is expected to continue its rapid growth over the next few years.

• Projected Growth: Expected to reach $28.07 billion by 2028, with a CAGR of 11.9%.
• Growth Drivers: Rising incidences of genetic diseases, increased use of DNA diagnostics, expanding healthcare infrastructure, growing awareness of disease prevention, increased manufacturer investment, and higher adoption of companion diagnostics.

Increasing Prevalence of Genetic Disorders
The rise in genetic disorders is a significant factor driving the DNA testing market.

• Genetic Disorders: Conditions caused by abnormalities in an individual’s DNA.
• Impact: Increased awareness, improved diagnostic techniques, expanded genetic screening, and rising consanguineous marriages contribute to the prevalence of genetic disorders.
• Statistics: According to WHO, congenital diseases cause an estimated 240,000 baby deaths globally within 28 days of birth each year. In the US, about 6,000 babies are born with Down syndrome annually, approximately 1 in every 700 babies.

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

Key Players in the Market
Several major companies are leading the DNA testing market, driving innovation and expanding their market presence.

• Major Companies: F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers GmbH, Becton, Dickinson and Company, GE HealthCare Technologies Inc., Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics Incorporated, Eurofins Scientific SE, Agilent Technologies, Illumina Inc., PerkinElmer Inc., bioMérieux SA, Beckman Coulter Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Natera Inc., Myriad Genetics Inc., BGI Genomics Co. Ltd., Cepheid, NeoGenomics Laboratories Inc., Ancestry.com LLC, 23andMe Holding Co, Ambry Genetics Corporation, MyHeritage Ltd., Biocartis SA, CENTOGENE N.V., Everlywell Inc., Atlas Biomed Group Limited, Veritas Genetics.

Advancements in Precancer Detection DNA Tests
Innovations in DNA testing are enhancing the early detection of cancer, crucial for improving patient outcomes.

• Precancer Detection Tests: Diagnostic assays identifying genetic alterations or biomarkers associated with early-stage cancer.
• Example: In November 2023, Lucid Diagnostics Inc. launched EsoGuard 2.0, an advanced esophageal DNA test that enhances assay performance and reduces costs by utilizing molecular techniques and improved sample DNA yields.

Thermo Fisher Scientific’s Strategic Acquisition
Acquisitions are helping companies expand their capabilities and market reach in the DNA testing sector.

• Acquisition Details: In February 2021, Thermo Fisher Scientific acquired Mesa Biotech for $450 million.
• Impact: This acquisition strengthens Thermo Fisher Scientific’s position in the point-of-care molecular diagnostics market, particularly for infectious diseases, leveraging Mesa’s innovative technology platform.

Market Segmentation
The DNA testing market is segmented by product type, technology, application, and region.

1. By Product Type
   • Equipment
   • Consumables
   • Software and Services
2. By Technology
   • Polymerase Chain Reaction (PCR) Based
   • In-Situ Hybridization
   • Microarray
   • Next-Generation Sequencing (NGS) DNA Diagnosis
3. By Application
   • Newborn DNA Screening
   • Prenatal DNA Carrier Screening
   • Oncology Diagnostics and Histopathology
   • Pre-implantation Diagnosis
   • Infectious Disease Diagnostics
   • Pharmacogenomics Diagnostic Testing
   • Identify Diagnostics and Forensic
   • Other Applications

Regional Insights
The DNA testing market shows significant regional variations, with North America leading in 2023.

• North America: Largest market in 2023, driven by advanced healthcare infrastructure and high adoption rates of new technologies.
• Future Trends: Other regions, particularly in Asia-Pacific, are expected to grow rapidly due to increasing healthcare investments and rising awareness of genetic diagnostics.

Conclusion
The DNA testing market is experiencing rapid growth driven by technological advancements, strategic industry moves, and increasing prevalence of genetic disorders. As healthcare providers and consumers increasingly adopt DNA testing for early detection and personalized medicine, the market is set to expand significantly, offering innovative products and services tailored to meet evolving healthcare needs.

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