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DNA Test Kits Market Size, Driving Factors, Growth Statistics, Competitive Landscape And Forecast To 2033
DNA Test Kits Market Size
According to The Business Research Company's, The DNA test kits market size has grown rapidly in recent years. It will grow from $1.74 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 19.7%. The growth in the historic period can be attributed to an increase in the number of direct-to-consumer genetic tests, a rise in demand for DNA testing for health & fitness, the rise in the geriatric population, an increase in the prevalence of cancer, and rising demand for disease diagnostics.
The DNA test kits market size is expected to see rapid growth in the next few years. It will grow to $4.31 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%. The growth in the forecast period can be attributed to rising demand for personalized drug development, increased focus on personalized medicine, rising healthcare expenditure, increased demand for health-focused tests, focus on preventive healthcare, and increasing focus on population health management. Major trends in the forecast period include genetic testing technologies, digital health platforms, electronic medical records (EMRs), wearable devices, artificial intelligence (AI) and machine learning algorithms, drug development, ecological monitoring, biodiversity assessment, and wildlife conservation.
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Market Drivers and Trends:
The increasing number of genetic disorders are expected to propel the growth of the DNA test kits market going forward. Genetic disorders refer to health problems caused by abnormalities in the genome, which can be due to mutations in single genes (monogenic), multiple genes (polygenic), or chromosomal abnormalities. Genetic disorders are rising due to increased awareness, improved diagnostic techniques, changes in lifestyle, and environmental factors contributing to mutations. DNA test kits are utilized in genetic disorders to identify specific gene mutations or variations associated with inherited conditions, aiding in diagnosis and personalized treatment approaches. For instance, in April 2024, according to the Centers for Disease Control and Prevention (CDC), a US-based national public health agency, one in 700 babies, or approximately 6,000 newborns, are affected by Down syndrome each year. Furthermore, in February 2023, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations responsible for international public health, congenital diseases caused an estimated 240,000 baby deaths globally within 28 days of birth each year. Therefore, increasing genetic disorders are driving the growth of the DNA test kits market.
Major companies operating in the DNA testing market are focused on developing advanced testing solutions such as precancer detection DNA tests, to improve the early diagnosis and treatment of cancer. Precancer detection DNA tests are diagnostic assays designed to identify genetic alterations or biomarkers associated with the early stages of cancer development. For instance, in November 2023, Lucid Diagnostics Inc., a US-based esophageal cancer prevention medical diagnostics company, launched a next-generation EsoGuard Esophageal DNA Test known as EsoGuard 2.0. This advanced esophageal DNA test utilizes molecular techniques and improved sample DNA yields to enhance assay performance and reduce costs. The test involves collecting DNA from esophageal cells using the EsoCheck Cell Collection Device, followed by bisulfite conversion, polymerase chain reaction (PCR) amplification, and next-generation sequencing to identify methylation at specific sites on genes associated with esophageal precancer and cancer. This DNA test provides results indicating the presence or absence of epigenetic changes consistent with esophageal precancer and cancer. It is an essential DNA testing tool in cancer prevention and early detection.
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Major Key Players of the Market:
F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Becton, Dickinson and Company, GE HealthCare Technologies Inc., Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics Incorporated, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Natera Inc., Myriad Genetics Inc., BGI Genomics Co. Ltd., NeoGenomics Laboratories Inc., Ancestry.com LLC, 23andMe Holding Co, Ambry Genetics Corporation, MyHeritage Ltd., CENTOGENE N.V., Everlywell Inc., Gene by Gene Ltd., Zymo Research Corporation, Devyser, Living DNA Ltd, Veritas Genetics, Nebula Genomics
DNA Test Kits Market 2024 Key Insights:
• The DNA test kits market size is expected to see rapid growth in the next few years. It will grow to $4.31 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%.
• DNA Test Kits Market Growth Amid Increasing Genetic Disorders
• Personalized DNA Kits Transforming The Market Landscape
• North America was the largest region in the DNA test kits market in 2023
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