Why is Presence of Huge Middle-Aged Population Driving Huntington’s Disease Genetic Testing Market?

The global Huntington’s disease (HD) genetic testing market is predicted to generate a revenue of $28.3 million by 2030, increasing from $20.6 million in 2019, progressing at a 3.1% CAGR during the forecast period (2020–2030), as per a research conducted by P&S Intelligence. The presence of a large middle-aged population, reducing costs of genetic tests, initiatives taken by private and public organizations for raising awareness regarding HD, and reducing costs of genetic tests are leading to the growth of the market.

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On the basis of patient group, the Huntington’s disease genetic testing market is categorized into child, adult, adolescent, and aged, out of which, the adult category held the major share of the market during the historical period. The category is also predicted to grow at the fastest pace during the forecast period, which can be ascribed to the fact that the prevalence of HD is significantly high among adults, particularly people who are in the age group of 30–50.

Geographically, North America dominated the Huntington’s disease genetic testing market in the past, owing to the presence of major players in the U.S. and the rising prevalence of genetic diseases in the region. In addition to this, a large number of facilities, where genetic testing is conducted, and increasing spending in the healthcare sector are also leading to the growth of the regional market. The region is further projected to witness the highest CAGR during the forecast period.

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The declining cost of genetic testing and increasing prevalence of HD are among the major driving factors of the Huntington’s disease genetic testing market. For HD, the cost of genetic testing is around $100–$200, depending on the complexity, nature, and count of the tests. Because of the low cost of testing and high availability of test kits for HD all over the world, the inclination towards early diagnosis has risen considerably over the past few years.

In conclusion, the market is growing due to the reduction in the cost of genetic testing, wide middle-aged population, and high prevalence of HD.

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This release was published on openPR.