Genetic testing is a type of medical test that identifies changes in genes, chromosomes, or proteins. The results of a genetic test can confirm or rule out a suspected genetic condition or help determine a person's chance of developing or passing on a genetic disorder. Genetic testing is useful in many areas of medicine and can change the medical care people receives.
Market Dynamics:
Rise in burden of genetic and rare disorders, increasing application of genetic testing in oncology, growing applications of genetic testing, high demand for personalized medicine, and increasing demand for direct-to-consumer genetic testing are major factors expected to augment the growth of the global genetic testing market over the forecast period.
For instance, in June 2022, Prenetics Group Limited, one of the leaders in genomic and diagnostic testing, introduced a novel, non-invasive at-home screening test, ColoClear by Circle (ColoClear), for detecting early signs of colorectal cancer.
Moreover, in March 2022, Illumina, a genome sequencing group, launched a cancer test in Europe that checks for a wide range of tumor genes in one tissue sample, potentially helping patients with rare diseases to be matched up with treatment options.
Key features of the study:
- This report provides in-depth analysis of the global genetic testing market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global genetic testing market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include 23&Me Inc., Qiagen NV, Eurofins Scientific, PerkinElmer Inc., Illumina Inc., Danaher Corporation, Myriad Genetics Inc., Abbott Laboratories, F. Hoffmann-La Roche Ltd., Quest Diagnostics Incorporated, BioRad Laboratories Inc., and DiaSorin S.p.A. (Luminex Corporation), among others.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global genetic testing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global genetic testing market.
Detailed Segmentation:
- Global Genetic Testing Market, By Type:
- Carrier Testing
- Diagnostic Testing
- New-born Screening
- Predictive and Presymptomatic Testing
- Prenatal Testing
- Other Types
- Global Genetic Testing Market, By Disease:
- Alzheimer's Disease
- Cancer
- Cystic Fibrosis
- Sickle Cell Anemia
- Duchenne Muscular Dystrophy
- Thalassemia
- Huntington's Disease
- Rare Diseases
- Other Diseases
- Global Genetic Testing Market, By Technology:
- Cytogenetic Testing
- Biochemical Testing
- Molecular Testing
- Global Genetic Testing Market, By Geography:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
- Company Profiles:
- 23&Me Inc.
- Qiagen NV
- Eurofins Scientific
- PerkinElmer Inc.
- Illumina Inc.
- Danaher Corporation
- Myriad Genetics Inc.
- Abbott Laboratories
- Hoffmann-La Roche Ltd.
- Quest Diagnostics Incorporated
- BioRad Laboratories Inc.
- DiaSorin S.p.A. (Luminex Corporation)
