DNA Testing Market Size, Share Analysis, Trends Report 2024 To 2033

The Business Research Company recently released a comprehensive report on the Global DNA Testing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The DNA testing market size has grown rapidly in recent years. It will grow from $16.04 billion in 2023 to $17.9 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to the increasing incidence of chronic diseases, rising demand for precision medicine, rising direct-to-consumer (DTC) testing, rising demand for population genomics, growing forensic investigations, and demand for genetic screening.

The DNA testing market size is expected to see rapid growth in the next few years. It will grow to $28.07 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to rising incidences of genetic diseases, growing use of DNA diagnostics, growing healthcare infrastructure, growing awareness of disease prevention, rising investment by manufacturers, and increased adoption of companion diagnostics. Major trends in the forecast period include next-generation sequencing (NGS), polymerase chain reaction (PCR), preimplantation genetic diagnosis (PGD) in assisted reproductive technologies (art), miniaturization of testing devices, new DNA testing products, and development of novel assays, biomarkers, diagnostic tools, point-of-care testing, and non-invasive prenatal testing (NIPT).

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Market Drivers and Trends:

The increasing prevalence of genetic disorders is expected to propel the growth of the DNA testing market going forward. Genetic disorders are conditions caused by abnormalities in an individual's DNA, leading to physical or developmental abnormalities. The increasing prevalence of genetic disorders can be attributed to factors such as increased awareness, improved diagnostic techniques, expanded genetic screening, and the rising trend of consanguineous marriages in some populations. DNA testing are increasingly utilized in the diagnosis, prognosis, and treatment decision-making for individuals with genetic disorders, enabling personalized medical care and family planning strategies based on an individual's genetic makeup. For instance, 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. Moreover, according to the Centers for Disease Control and Prevention, a US-based government agency, about 6,000 babies are born with Down syndrome in the United States each year, which is about 1 in every 700 babies. Therefore, the increasing prevalence of genetic disorders is driving the DNA testing market.

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Major Key Players of the Market:

F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers GmbH, Becton, Dickinson and Company, GE HealthCare Technologies Inc., Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics Incorporated, Eurofins Scientific SE, Agilent Technologies, Illumina Inc., PerkinElmer Inc., bioMérieux SA, Beckman Coulter Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Natera Inc, Myriad Genetics Inc., BGI Genomics Co. Ltd., Cepheid, NeoGenomics Laboratories Inc, Ancestry.com LLC, 23andMe Holding Co, Ambry Genetics Corporation, MyHeritage Ltd, Biocartis SA, CENTOGENE N.V., Everlywell Inc, Atlas Biomed Group Limited, Veritas Genetics

DNA Testing Market 2024 Key Insights:

• The DNA testing market size is expected to see rapid growth in the next few years. It will grow to $28.07 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%.
• Increasing Prevalence Of Genetic Disorders Fuels Growth In Genetic Testing Services Market
• Advancements In Precancer Detection DNA Tests
• North America was the largest region in the DNA testing market in 2023

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