The genetic testing market will reach US$ 37.58 billion by 2030 per Renub Research, which involves medical tests identifying genetic changes, chromosomes, or proteins. Also known as DNA or genetic analysis, it examines DNA to reveal genetic makeup, traits, disease risks, and ancestry. Tests confirm or rule out genetic conditions, assess disease risks, and guide personalized treatments. Samples like blood, saliva, or tissue undergo analysis to detect genetic variations or mutations. Genetic testing aids in diagnosing disorders, understanding inherited traits, and assessing carrier status. It’s pivotal in personalized medicine, ancestry exploration, and disease prevention, and crucial in healthcare and scientific advancements.

Expert Insights: Ask Analyst or Download Full Report with TOC and Figures: https://www.renub.com/genetic-testing-market-p.php

The global genetic testing market grows due to increased genetic disease prevalence, cancer cases, and healthcare providers’ adoption of genetic testing for diagnosis. Genetic disorders stem from gene or chromosome abnormalities, posing risks in pregnancies. Factors like drug use, family history, folate deficiency, and location contribute to inborn defects. The surge in genetic disorders among newborns drives demand for genetic screening and testing devices. This trend highlights the importance of early detection and diagnosis of genetic conditions, prompting healthcare providers to integrate genetic testing into routine care practices, fueling market growth.

The genetic testing market reached US$19.60 billion in 2023 and is forecast to grow at a CAGR of 9.75% from 2024 to 2030

The market is driven by increasing demand for genetic tests, especially for detecting diseases like thalassemia, Down’s syndrome, and cystic fibrosis, as seen in rising prevalence rates globally. For example, each year, around 3,000 to 5,000 children are born with Down syndrome, while in India, about 15,000 children are born with thalassemia. Additionally, genetic testing aids in cancer risk assessment by detecting mutations linked to various cancers, such as breast, ovarian, and colon cancer. The market also benefits from technological advancements and expanding research activities, with a notable increase in genetic tests performed worldwide. However, the high cost of genetic testing remains a challenge, potentially limiting market growth due to affordability issues and a need for more awareness among individuals about the benefits of genetic testing.

Request a free sample copy of the report: https://www.renub.com/request-sample-page.php?gturl=genetic-testing-market-p.php

Diagnostic testing is recognized as one of the leading segments within the worldwide genetic testing market.

Diagnostic testing is pivotal in the genetic testing market, covering tests for genetic disorders, disease risk assessment, and understanding an individual’s genetic profile. It confirms or excludes suspected genetic conditions, identifies disease predispositions, and guides personalized treatments. Advancements in technology and growing awareness of genetic testing’s importance fuel segment growth, offering innovative disease management solutions. Its crucial healthcare role emphasizes its significance, driving patient care enhancements and personalized medicine advancements.

Consumables have maintained a significant portion of the market share in the genetic testing industry.

Consumables are vital in the genetic testing market, encompassing essential materials like sample collection kits, PCR reagents, DNA extraction kits, and sequencing consumables. The increasing demand for genetic testing, driven by awareness, technology, and healthcare applications, fuels substantial growth in the consumables market. Laboratories, research facilities, and healthcare providers rely on these consumables for accurate genetic analyses, boosting their prominence. Ongoing advancements in testing methods and personalized medicine drive demand for consumables, ensuring continued market growth.

DNA sequencing is a prominent segment of the global genetic testing market.

DNA sequencing is indispensable in genetic testing. Decoding the sequence of nucleotides within DNA molecules reveals critical insights into an individual’s genetic makeup. This pivotal technology identifies genetic variations associated with inherited diseases, predispositions to certain conditions, and pharmacogenomic factors influencing drug responses. With its precision and versatility, DNA sequencing empowers clinicians and researchers to make informed decisions regarding diagnosis, treatment strategies, and personalized medicine interventions, revolutionizing the healthcare landscape.

The segment encompassing hospitals and clinics holds a substantial portion of the global genetic testing market.

Hospitals and clinics hold a considerable share of the global genetic testing market. These healthcare facilities serve as pivotal points for genetic testing services, catering to a diverse range of patients seeking diagnostic and prognostic insights into their genetic makeup. With technological advancements and increasing awareness, hospitals and clinics increasingly integrate genetic testing into their diagnostic protocols, facilitating personalized treatment approaches and preventive care strategies. As key stakeholders in healthcare delivery, their involvement underscores the growing importance of genetic testing in mainstream medical practice.

The foremost market for genetic testing services is the United States.

The United States is at the forefront of the genetic testing services market. With its advanced healthcare infrastructure, widespread accessibility to testing facilities, and robust research and development initiatives, the country leads in offering a diverse range of genetic testing services. Moreover, a supportive regulatory environment and increasing consumer awareness contribute to the United States’ dominance in this field. As a result, it remains the primary destination for individuals seeking genetic testing solutions.

Key Players

Abbott Laboratories, Danaher Corporation (including Cepheid Inc.), Illumina Inc., Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG, Diasorin, Revvity Inc., and Thermo Fisher Scientific Inc. stand out as the top players in the genetic testing market.

Tests – Market breakup in 7 viewpoints:

Predictive Testing
Carrier Testing
Prenatal and Newborn Testing
Diagnostic Testing
Pharmacogenomic Testing
Nutrigenomic Testing
Others

Products – Market breakup in 3 viewpoints:

Consumables
Equipment
Software & Services

Technology – Market breakup in 4 viewpoints:

PCR
DNA Sequencing
Microarrays
Others

Disease – Market breakup in 6 viewpoints:

Cancer
Genetic Diseases
Cardiovascular Diseases
Rare Diseases
Infectious Diseases
Others

End-Users – Market breakup in 3 viewpoints:

Hospitals & Clinics
Diagnostic Laboratories
Others

Countries – Market breakup of 25 Countries:

North America

1.1 United States

1.2 Canada

Europe

2.1 France

2.2 Germany

2.3 Italy

2.4 Spain

2.5 United Kingdom

2.6 Belgium

2.7 Netherland

2.8 Turkey

Asia Pacific

3.1 China

3.2 Japan

3.3 India

3.4 South Korea

3.5 Thailand

3.6 Malaysia

3.7 Indonesia

3.8 Australia

3.9 New Zealand

Latin America

4.1 Brazil

4.2 Mexico

4.3 Argentina

Middle East & Africa

5.1 Saudi Arabia

5.2 UAE

5.3 South Africa

All the Key players have been covered from 3 Viewpoints:

Overview
Recent Development
Revenue Analysis

Company Analysis:

Abbott Laboratories
Danaher Corporation (Cepheid Inc.)
Illumina Inc.
BioRad Laboratories Inc.
F Hoffmann-La Roche AG
Diasorin
Revvity Inc.
Thermo Fisher Scientific Inc.

About the Company:

Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 9000 syndicated reports and worked on more than 750 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.