Press release
Global Genetic Testing Market: Growth Driven by Increasing Prevalence of Genetic Disorders and Emergence of Novel Diseases
Genetic Testing Market Size
What Is The Projected Market Size Of The Global Genetic Testing Market And Its Growth Rate?
The global genetic testing market has shown significant growth over the past few years and is expected to follow this trend in the future. This can be attributed to several factors such as the rising healthcare expenditure, prevalence of cancer, demand for personalized medicine and the emergence of novel infectious diseases.
• 2024 Market Size: $19.1 billion
• 2025 Market Size: $20.92 billion (9.5% CAGR)
• 2029 Forecasted Market Size: $30.45 billion (9.8% CAGR)
Major factors contributing to the forecasted growth include increasing government support, a rise in genetic disorders and chronic diseases, and an increasing geriatric population.
What Is Driving The Growth In The Genetic Testing Market?
The growth of the genetic testing market is primarily driven by the rising prevalence of genetic disorders. These disorders may present symptoms at birth or may develop over time. Genetic testing can help diagnose these disorders and determine the likelihood of developing cancer. For instance, according to the World Health Organization, genetic disorders and congenital abnormalities affect 2%-5% of live births and account for 30% of pediatric hospital admissions, leading to about 50% of childhood deaths in industrialized countries. Therefore, the increasing instances of genetic disorders are driving the genetic testing market growth.
Request A Free Sample Copy:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6729&type=smp
Who Are the Key Players Driving Genetic Testing Market Growth?
Key players driving the growth in the genetic testing market include:
• Myriad Genetics Inc
• Illumina Inc
• Abbott Laboratories
• Eurofins Scientific
• Danaher Corporation
• F. Hoffmann-La Roche Ltd
• Quest Diagnostics Incorporated
• Qiagen NV
• Thermo Fisher Scientific Inc.
• BioRad Laboratories Inc.
What Are The Key Trends In The Genetic Testing Market?
Major trends in the genetic testing market include:
• Introduction of new programs like genetic counseling and informatics programs
• Technological advancements
• Launch of direct-to-consumer genetic tests
What Are The Segments Of The Global Genetic Testing Market?
The genetic testing market is categorized by:
• Type: Predictive Testing, Carrier Testing, Prenatal And Newborn Testing, Diagnostic Testing, Pharmacogenomics Testing, Nutrigenomic Testing
• Technology: Cytogenetic Testing, Biochemical Testing, Molecular Testing
• Application: Cancer Diagnosis, Genetic Disease Diagnosis, Cardiovascular Disease Diagnosis
• End User: Hospitals And Clinics, Diagnostic Laboratories And Centres
Which Region Leads The Genetic Testing Market?
In 2024, North America was the largest region in the genetic testing market. Additionally, Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Pre-book the Report for Swift Delivery:
https://www.thebusinessresearchcompany.com/report/genetic-testing-global-market-report
What Is Covered In The Genetic Testing Market Global Market Report?
- Market Size Analysis: Analyze the Genetic Testing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Genetic Testing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Genetic Testing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Genetic Testing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Request Customization for This Report:
https://www.thebusinessresearchcompany.com/customise?id=6729&type=smp
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
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 Global Genetic Testing Market: Growth Driven by Increasing Prevalence of Genetic Disorders and Emergence of Novel Diseases here
News-ID: 3837102 • Views: …
More Releases from The Business Research Company
Increasing Construction Activities Driving The Growth Of The Market Due To Risin …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Electrical Metallic Tubing (EMT) Market Through 2025?
The market for electrical metallic tubing (EMT) has experienced robust growth over the past few years. It is projected to expand from $3.44 billion in 2024 to $3.64 billion in 2025, reflecting a compound annual…
Future of the Commercial Walk-Behind Mowers Market: Strategic Analysis and Forec …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Commercial Walk-Behind Mowers Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Recent years have seen substantial growth in the commercial walk-behind mowers market, with a predicted rise from $2.51 billion in 2024 to $2.69 billion in 2025, indicating a compound annual growth rate (CAGR) of…
2025-2034 Corporate Strategy Market Roadmap: Insights for Competitive Advantage
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Corporate Strategy Market Size By 2025?
On observing the recent years, it's evident that the dimension of the corporate strategy market has significantly expanded. A growth from $22.49 billion in 2024 to $24.72 billion in 2025 is expected, showcasing a compound annual growth rate (CAGR)…
Tailored Financial Products Addressing Evolving Retirement Needs Industry Trends …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Commercial Pension Insurance Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Significant expansion has been observed in the commercial pension insurance market in the last few years. The market will surge from $860.42 billion in 2024 to $933.55 billion in 2025, experiencing a compound annual…
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…
