About Genetic Testing
Genetic Testing, also called DNA Testing or genetic analysis, is a medical and scientific procedure that involves examining and analyzing an individual's DNA gain to insight into the individual genetic makeup and genetic information. Genetic testing can reveals specific genetic variations, mutations, or alteration within an individual's genome, providing information about their genetic predispositions, inherited traits, risk of certain diseases, and more. genetic testing is conducted for various purpose, including diagnosing genetic disorder, assessing disease risk, identifying carrier status for inherited condition. genetic testing generally involves the analysis of sample of genetic materials, such as blood, saliva, buccal swabs, or tissue samples, to individual's DNA. Increasing awareness among consumers about advanced diagnostic tests is driving the demand for genetic testing.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 29.0% |
The market is fragmented by top global key players who are competing with each other based on strategic development, new product launches and strategic alliances and collaborations between big companies such as Vitrolife partners with Illumina on preimplantation genetic testing business in the genetic testing market in countries like EMEA and Americas. The global genetic testing market is very competitive owing to the presence of well-diversified international and regional players. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Genetic Testing market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Transgenomic, Inc. (United States), GE Healthcare (United States), 23 & Me (United States), Sequenom, Inc. (United States), Abbott Laboratories (United States), Biocartis SA (Switzerland), Illumina Inc. (United States), 454 Life Sciences (United States), Bio-Rad Laboratories (United States), Luminex Corporation (United States), Affymetrix Inc. (United States), Agilent Technologies Inc. (United States), Cephide Inc. (United States), Beckman Coulter Inc. (United States) and Gene Dx LLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Invitae (United States), Pathway Genomics (United States), Counsyl, Inc. (United States), Asper Biotech (Europe), GenePlanet (Europe), Ambry Genetics (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Genetic Testing market by Type (Predictive & Presymptomatic Testing, Diagnostic Testing, Carrier Testing, Prenatal Testing, New born screening, Preimplantation Testing and Others), Application (Cancer Genetic Testing, Filling and Capping Machinery, Pharmacogenomics Genetic Testing, Predisposition Cancer Genetic Testing and Others) and Region.
On the basis of Type, Diagnostic testing are dominating the market in the year 2023On the basis of geography, the market of Genetic Testing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Clinical Indication, the sub-segment i.e. Alzheimer's Disease will boost the Genetic Testing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Blood Banks will boost the Genetic Testing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The shift of focus from clinical science to bioinformatics and growing popularity of these techniques, leading to high rate of adoption of genetic testing technology.
Market Growth Drivers:
Increased application of gene testing in Oncological research, The rising prevalence of genetic disorders and Increasing demand for personalized medicine.
Challenges:
Lack of awareness about genetic diseases and testing in several developing regions.
Restraints:
Inaccuracies in results and reimbursement issues and High-cost factor and lack of professional expertise in this market may hamper the market growth rate.
Opportunities:
Genetic tests in conjugation with other genomic technologies helping to predict the risk of an individual to a disease assisting clinicians to select suitable therapeutic interventions. These factors provide opportunities for vendors to grow in pharmaceutical industry.
Market Leaders and their expansionary development strategies
In June 2023, Illumina launched NovaSeq X Plus sequencing system. This new sequencer offered faster and more affordable sequencing, potentially expanding access to genetic testing.
In June 2023, Devyser launched two new products, Devyser LynchFAP and Devyser BRCA PALB2. These kits offer efficient, targeted, and confident analysis of genes associated with increased cancer risk, such as those involved in Lynch syndrome, and breast and ovarian cancers. These genetic testing solutions represent a significant advancement in hereditary cancer offering. By understanding mutations associated with increased cancer risks, ambition is to enable more personalized care and preventive measures, ultimately saving lives."
Key Target Audience
Research Laboratories, Government and regulatory bodies, Healthcare providers, Clinicians, Pharmaceutical companies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.