Press release
Genetic Testing Market, Size, Global Forecast Report, Industry Trends, Share, Growth, Insight, Impact of Inflation, Companies Analysis
Expert Insights: Ask Analyst or Download Full Report with TOC and Figures: https://www.renub.com/genetic-testing-market-p.php
The global genetic testing market grows due to increased genetic disease prevalence, cancer cases, and healthcare providers' adoption of genetic testing for diagnosis. Genetic disorders stem from gene or chromosome abnormalities, posing risks in pregnancies. Factors like drug use, family history, folate deficiency, and location contribute to inborn defects. The surge in genetic disorders among newborns drives demand for genetic screening and testing devices. This trend highlights the importance of early detection and diagnosis of genetic conditions, prompting healthcare providers to integrate genetic testing into routine care practices, fueling market growth.
The genetic testing market reached US$19.60 billion in 2023 and is forecast to grow at a CAGR of 9.75% from 2024 to 2030
The market is driven by increasing demand for genetic tests, especially for detecting diseases like thalassemia, Down's syndrome, and cystic fibrosis, as seen in rising prevalence rates globally. For example, each year, around 3,000 to 5,000 children are born with Down syndrome, while in India, about 15,000 children are born with thalassemia. Additionally, genetic testing aids in cancer risk assessment by detecting mutations linked to various cancers, such as breast, ovarian, and colon cancer. The market also benefits from technological advancements and expanding research activities, with a notable increase in genetic tests performed worldwide. However, the high cost of genetic testing remains a challenge, potentially limiting market growth due to affordability issues and a need for more awareness among individuals about the benefits of genetic testing.
Request a free sample copy of the report: https://www.renub.com/request-sample-page.php?gturl=genetic-testing-market-p.php
Diagnostic testing is recognized as one of the leading segments within the worldwide genetic testing market.
Diagnostic testing is pivotal in the genetic testing market, covering tests for genetic disorders, disease risk assessment, and understanding an individual's genetic profile. It confirms or excludes suspected genetic conditions, identifies disease predispositions, and guides personalized treatments. Advancements in technology and growing awareness of genetic testing's importance fuel segment growth, offering innovative disease management solutions. Its crucial healthcare role emphasizes its significance, driving patient care enhancements and personalized medicine advancements.
Consumables have maintained a significant portion of the market share in the genetic testing industry.
Consumables are vital in the genetic testing market, encompassing essential materials like sample collection kits, PCR reagents, DNA extraction kits, and sequencing consumables. The increasing demand for genetic testing, driven by awareness, technology, and healthcare applications, fuels substantial growth in the consumables market. Laboratories, research facilities, and healthcare providers rely on these consumables for accurate genetic analyses, boosting their prominence. Ongoing advancements in testing methods and personalized medicine drive demand for consumables, ensuring continued market growth.
DNA sequencing is a prominent segment of the global genetic testing market.
DNA sequencing is indispensable in genetic testing. Decoding the sequence of nucleotides within DNA molecules reveals critical insights into an individual's genetic makeup. This pivotal technology identifies genetic variations associated with inherited diseases, predispositions to certain conditions, and pharmacogenomic factors influencing drug responses. With its precision and versatility, DNA sequencing empowers clinicians and researchers to make informed decisions regarding diagnosis, treatment strategies, and personalized medicine interventions, revolutionizing the healthcare landscape.
The segment encompassing hospitals and clinics holds a substantial portion of the global genetic testing market.
Hospitals and clinics hold a considerable share of the global genetic testing market. These healthcare facilities serve as pivotal points for genetic testing services, catering to a diverse range of patients seeking diagnostic and prognostic insights into their genetic makeup. With technological advancements and increasing awareness, hospitals and clinics increasingly integrate genetic testing into their diagnostic protocols, facilitating personalized treatment approaches and preventive care strategies. As key stakeholders in healthcare delivery, their involvement underscores the growing importance of genetic testing in mainstream medical practice.
The foremost market for genetic testing services is the United States.
The United States is at the forefront of the genetic testing services market. With its advanced healthcare infrastructure, widespread accessibility to testing facilities, and robust research and development initiatives, the country leads in offering a diverse range of genetic testing services. Moreover, a supportive regulatory environment and increasing consumer awareness contribute to the United States' dominance in this field. As a result, it remains the primary destination for individuals seeking genetic testing solutions.
Key Players
Abbott Laboratories, Danaher Corporation (including Cepheid Inc.), Illumina Inc., Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG, Diasorin, Revvity Inc., and Thermo Fisher Scientific Inc. stand out as the top players in the genetic testing market.
Tests - Market breakup in 7 viewpoints:
1. Predictive Testing
2. Carrier Testing
3. Prenatal and Newborn Testing
4. Diagnostic Testing
5. Pharmacogenomic Testing
6. Nutrigenomic Testing
7. Others
Products - Market breakup in 3 viewpoints:
1. Consumables
2. Equipment
3. Software & Services
Technology - Market breakup in 4 viewpoints:
1. PCR
2. DNA Sequencing
3. Microarrays
4. Others
Disease - Market breakup in 6 viewpoints:
1. Cancer
2. Genetic Diseases
3. Cardiovascular Diseases
4. Rare Diseases
5. Infectious Diseases
6. Others
End-Users - Market breakup in 3 viewpoints:
1. Hospitals & Clinics
2. Diagnostic Laboratories
3. Others
Countries - Market breakup of 25 Countries:
1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
• Overview
• Recent Development
• Revenue Analysis
Company Analysis:
1. Abbott Laboratories
2. Danaher Corporation (Cepheid Inc.)
3. Illumina Inc.
4. BioRad Laboratories Inc.
5. F Hoffmann-La Roche AG
6. Diasorin
7. Revvity Inc.
8. Thermo Fisher Scientific Inc.
About the Company:
Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 9000 syndicated reports and worked on more than 750 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.
Media Contact:
Company Name: Renub Research
Contact Person: Rajat Gupta, Marketing Manager
Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)
Address: 225 Kristie Ln, Roswell, GA 30076
Email: info@renub.com
LinkedIn: https://linkedin.com/company/renub-research
Website: www.renub.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Genetic Testing Market, Size, Global Forecast Report, Industry Trends, Share, Growth, Insight, Impact of Inflation, Companies Analysis here
News-ID: 3448917 • Views: …
More Releases from Renub Resaecrh
Global Sports Medicine Market to Hit $12.32 Billion by 2033, Driven by Rising At …
Sports Medicine Market Overview
The growing awareness of injury prevention, increased involvement in sports and physical activities, and advancements in medical technology are all contributing to the notable rise of the global sports medicine industry. The prevention, diagnosis, treatment, and rehabilitation of sports-related injuries are the primary goals of this specialized discipline, which serves athletes, fitness enthusiasts, and individuals who lead active lifestyles. The adoption of less invasive surgical procedures, the…
U.S. Cosmetics Industry Set to Surge Past $149 Billion by 2033 Amid Rising Deman …
United States Cosmetics Market Overview
According to Renub Research, with an absolute compound annual growth rate (CAGR) of 4.82% from 2025 to 2033, the United States cosmetics industry is expected to reach around US$ 149.53 billion in 2033, up from US$ 97.89 billion in 2024.
Growing consumer awareness of personal grooming and beauty improvement, particularly among millennial and Gen Z, is the primary factor driving the US industry. For example, according to…
Global Non-Invasive Prenatal Testing Market to Triple by 2033, Surging to US$ 11 …
Non-Invasive Prenatal Testing Market Overview
A type of prenatal screening called non-invasive prenatal testing (NIPT) uses a pregnant woman's blood sample to check for fetal abnormalities. By examining DNA fragments in the mother's blood, the test is primarily used to identify genetic abnormalities, such as Turner syndrome, Patau syndrome, Edwards syndrome, and Down syndrome. The treatment, which may be carried out after nine weeks of pregnancy, removes the need…
Renub Research: Global Tractor Market Set to Plough Ahead, Reaching $111.22 Bill …
Agricultural Tractors Market Overview
The growing need for automated solutions in contemporary farming is driving the rapid evolution of the agricultural tractor market. Precision agriculture, less manual work, and increased output are all made possible by tractors. To maximize field operations, farmers are implementing tractors equipped with cutting-edge technology, such as automation, telematics, and GPS, as the global demand for food increases. Trends such as climate change adaptation and sustainable…
More Releases for Testing
Global Testing Market Size - By Product Type(Terpene Profiling Testing,Heavy Met …
Market Overview and Report Coverage
testing refers to the scientific analysis and evaluation of products to ensure their safety, potency, and compliance with regulatory standards. This process typically involves testing for profiles, contaminants, pesticides, heavy metals, and microbial residues. As becomes increasingly legalized for medicinal and recreational use across various regions, the demand for reliable testing services is growing, ensuring consumers receive high-quality…
Sterility Testing Market, Sterility Testing Market Analysis, Sterility Testing M …
"According to the research report, the global synthetic biology market was valued at USD 13.07 billion in 2022 and is expected to reach USD 71.51 billion by 2032, to grow at a CAGR of 18.5% during the forecast period."
Request Our Free Sample Report for Synthetic Biology Market Insights and Emerging Trends @ https://www.polarismarketresearch.com/industry-analysis/synthetic-biology-market/request-for-sample
Report Overview
Polaris Market Research, a leading global market research and consulting company, has recently published its latest report…
Hemato Oncology Testing Market Global Hemato Oncology Testing Market, Hemato Onc …
Global Hemato Oncology Testing Market Research report is an in-depth study of the market Analysis. Along with the most recent patterns and figures that uncovers a wide examination of the market offer. This report provides exhaustive coverage on geographical segmentation, latest demand scope, growth rate analysis with industry revenue and CAGR status. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study…
Test Automation Market | latest automation testing tools, automation testing too …
Market Research Reports Search Engine (MRRSE) has been serving as an active source to cater intelligent research report to enlighten both readers and investors. This research study titled “Test Automation Market “
The “Test Automation Market” report provides analysis of the global test automation market for the period 2015–2025, wherein the years from 2017 to 2025 is the forecast period and 2016 is considered as the base year. The report precisely…
Molecular Diagnostics Market Application On Infectious Disease Testing, Cardiova …
Worldwide Market Reports recently released “Global Molecular Diagnostics Market Research Report 2017” that centers around the latest developing trends and technologies in the Molecular Diagnostics Market having Five Years of forecast period from 2017 to 2022 and considering Market status study from 2017 to 2022.
During the research, noteworthy data was collected in order to shape the research document and make it a valuable resource for managers, industry executives and other…
Test Automation Market Quadruples by 2023; with a ~ 15.34 % of Whooping CAGR | C …
New Market Research Reports Title "Test Automation Market 2018" Has Been Added to Crystal Market Research Report database.
Test Automation Market - Competitive Insights:
The leading players in the market are Cognizant Corporation, IBM, Hewlett-Packard, Capgemini, Tata Consultancy Services and Infosys. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Test…
