China Genetic Testing Market Size 2023: Trends, Share, Growth, Opportunity and Forecast by 2028

According to IMARC Group's latest report, titled "China Genetic Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.' The China genetic testing market size reached US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.2 Billion by 2028, exhibiting a growth rate (CAGR) of 16.2% during 2023-2028.

Year Considered to Estimate the Market Size:

Base Year of the Analysis: 2022
Historical Period: 2017-2022
Forecast Period: 2023-2028

Genetic testing is used to examine changes in chromosome structure or deoxyribonucleic acid (DNA) sequence that can cause the risk of a genetic disorder. The test is carried out using blood, urine, saliva, body tissue, bone, or hair samples. The results can help identify the patient's chance of developing or passing a genetic disorder to offspring. The testing also enables the early diagnosis of chronic diseases, which helps in ensuring timely treatment and prevention. In China, genetic testing is witnessing wide-ranging applications in medicine for determining genetic lineage and the probability of developing and passing on the disorder, diagnosing genetic conditions, and identifying the most effective drugs based on the genetic profile.

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China Genetic testing Market Trends:

The availability of direct-to-consumer (DTC) tests and the inflating consumer expenditure power are some of the factors primarily driving the market growth in China. Moreover, the rising cases of genetic disorders and the increasing consumer awareness regarding genetic testing and its benefits are providing a significant boost to the market growth. Additionally, the recent COVID-19 pandemic has surged the adoption of home testing kits and virtual testing for sample collection purposes, which, in turn, is boosting the market growth. Furthermore, significant investments in research and development (R&D) activities and the implementation of the two-child policy by the Government of the People's Republic of China are creating a positive outlook for the market in the country. Apart from this, the burgeoning middle-class population, rapidly expanding healthcare sector, and rising geriatric population are positively contributing to the market growth.

China Genetic testing Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the China genetic testing market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these Key Players Include:

BGI
Berry Genomics Co. ltd.
Daan Gene Co. Ltd
WuXi NextCODE
Annoroad Gene Technology Co. Ltd.
WuXi PharmaTech

Key Market Segmentation:

The report has segmented the China genetic testing market on the basis of test type, disease, technology, service provider and testing sample.

Breakup by Test Type:

Prenatal Testing
Carrier Testing
New Born Testing
Predictive/Presymptomatic Testing
Diagnostic Testing
Others

Breakup by Disease:

Cancer
Down Syndrome
Thalassemia
Others

Breakup by Technology:

Biochemical
Molecular
Cytogenetic

Breakup by Service Provider:

Hospital Based Laboratories
Independent Laboratories
Specialty Clinics

Breakup by Testing Sample:

Blood
Saliva
Hair
Others

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Key highlights of the Report:                                                           

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.