Genetic Testing Market Forecast 2023-2032 - Major trends, Lucrative Segments And Fastest Growing Regions

As per The Business Research Company's Genetic Testing Opportunities And Strategies Market Report 2023, the genetic testing market reached a value of nearly $15,363.4 million in 2022, having grown at a compound annual growth rate (CAGR) of 7.5% since 2017. The market is expected to grow from $15,363.4 million in 2022 to $25,086.7 million in 2027 at a rate of 10.3%. The market is then expected to grow at a CAGR of 9.0% from 2027 and reach $38,554.6 million in 2032.    

The genetic testing market was driven by increasing government initiatives in the forecast period. The government of China is initiating several investments for the growth of genetic testing.

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Introducing new programs is a key trend gaining traction in the genetic testing market. Companies operating in the market are focusing on expanding diversity in healthcare through new genetic counseling and informatics programs that will assist develop the next generation of genetic testing.

The top opportunities in the genetic testing market segmented by type will arise in the prenatal and newborn testing segment, which will gain $3,028.3 million of global annual sales by 2027. The top opportunities in the genetic testing market segmented by technology will arise in the molecular testing segment, which will gain $5,505.4 million of global annual sales by 2027. The top opportunities in the genetic testing market segmented by application will arise in the cancer diagnosis segment, which will gain $4,553.6 million of global annual sales by 2027. The top opportunities in the genetic testing market segmented by end user will arise in the hospitals and clinics segment, which will gain $3,929.4 million of global annual sales by 2027. The genetic testing market size will gain the most in the USA at $4,058.6 million.

Genetic Testing Market Segmentation:
The genetic testing market is segmented by type, by technology, by application, and by end-user.
By Type-

a) Predictive Testing
b) Carrier Testing
c) Prenatal And Newborn Testing
d) Diagnostic Testing
e) Pharmacogenomics Testing
f) Nutrigenomic Testing
g) Other Types
By Technology-

a) Cytogenetic Testing
b) Biochemical Testing
c) Molecular Testing
By Application-

a) Cancer Diagnosis
b) Genetic Disease Diagnosis
c) Cardiovascular Disease Diagnosis
d) Other Applications
By End User -

a) Hospitals And Clinics
b) Diagnostic Laboratories And Centers
c) Other End Users

Major players in the genetic testing market include Myriad Genetics Inc., Illumina Inc., Abbott Laboratories, Eurofins Scientific, Danaher Corporation.

The regions covered in the global genetic testing market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Genetic Testing Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Genetic Testing Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction and Market Characteristics
……
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Genetic Testing Market, Conclusions And Recommendations
22. Appendix

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