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Genetic Testing Services Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Genetic Testing Services Market Share
The growing prevalence of genetic disorders is expected to drive the growth of the genetic testing services market. Genetic disorders, caused by DNA abnormalities, are becoming more common due to factors like better diagnostic techniques and genetic screening. Genetic testing services help diagnose and manage genetic disorders and assist in personalized medical care. For example, the WHO estimated that congenital diseases caused 240,000 baby deaths annually by 2023. This increasing prevalence of genetic disorders is driving the growth of the genetic testing services market.
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What is the projected compound annual growth rate (CAGR) of the genetic testing services market from 2025 to 2034, and what factors influence it?
The genetic testing services market has experienced rapid growth. It is projected to grow from $19.19 billion in 2024 to $21.42 billion in 2025, at a CAGR of 11.6%. This growth is attributed to the increasing demand for personalized and precision medicine, the rising prevalence of genetic disorders, growing demand for prenatal testing, a rising population, and higher levels of awareness and education.
The genetic testing services market is projected to grow to $32.77 billion by 2029, at a CAGR of 11.2%. Growth drivers include demand for non-invasive prenatal testing, pharmacogenomics, preventive healthcare focus, DTC testing, and personalized therapies. Key trends include AI and machine learning, advancements in testing kits, next-gen sequencing, and improved healthcare infrastructure.
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How are the latest trends influencing the growth of the genetic testing services market?
In the genetic testing services market, companies are working on innovative solutions like cancer screening tests to improve accuracy and expand testing capabilities. In June 2022, Prenetics Group Limited, a Hong Kong-based genetic testing company, launched ColoClear, a non-invasive stool DNA test. ColoClear offers a highly sensitive method for early detection of colorectal cancer and provides a convenient alternative to colonoscopy, showing 96% sensitivity for detecting colorectal cancer.
What are the major segments of the genetic testing services market and their role in driving growth?
The genetic testing services market covered in this report is segmented -
1) By Type: Predictive Testing, Carrier Testing, Prenatal Testing, Newborn Screening, Other Types
2) By Disease: Cancer Disease, Metabolic Disease, Cardiovascular Disease, Other Diseases
3) By End User: Diagnostic Laboratories, Hospitals And Clinics, Academic Institutes And Research Centers, Other End Users
Subsegments:
1) By Predictive Testing: Cancer Predisposition Testing, Heart Disease Risk Testing, Neurological Disorder Risk Testing, Other Predictive Tests
2) By Carrier Testing: Carrier Screening For Single-Gene Disorders, Carrier Screening For Multifactorial Conditions, Carrier Screening For Inherited Genetic Conditions, Other Carrier Tests
3) By Prenatal Testing: Non-Invasive Prenatal Testing (NIPT), Amniocentesis, Chorionic Villus Sampling (CVS), Ultrasound-Combined Genetic Testing, Other Prenatal Tests
4) By Newborn Screening: Metabolic Disorder Screening, Genetic Disorder Screening, Hearing Loss Screening, Endocrine Disorder Screening, Other Newborn Screening Tests
5) By Other Types: Pharmacogenetic Testing, Forensic Genetic Testing, Ancestry And Genetic Genealogy Testing, Paternity Testing, Other Specialized Genetic Tests
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Which regions are key players in the growth of the genetic testing services market?
North America was the largest region in the genetic testing services market in 2023. The regions covered in the genetic testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the genetic testing services market?
Major companies operating in the genetic testing services market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics Incorporated, Eurofins Scientific SE, SGS SA, Agilent Technologies, Hologic Inc., Illumina Inc., PerkinElmer Inc., bioMérieux SA, Bio-Rad Laboratories Inc., QIAGEN N.V., Natera Inc., Myriad Genetics Inc., BGI Genomics Co. Ltd., Invitae Corporation, NeoGenomics Laboratories Inc., 23andMe Holding Co, Berry Genomics Co. Ltd., Pacific Biosciences of California Inc., Ambry Genetics Corporation, Biocartis SA, CENTOGENE N.V., Blueprint Genetics Oy, Igenomix, Veritas Genetics
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What Is Covered In The Genetic Testing Services Global Market Report?
•Market Size Forecast: Examine the genetic testing services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the genetic testing services market for a structured understanding.
•Key Players Overview: Analyze major players in the genetic testing services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the genetic testing services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the genetic testing services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the genetic testing services market.
•Industry Challenges: Identify potential risks and obstacles affecting the genetic testing services market.
•Competitive Landscape: Review strategic developments in the genetic testing services market, including expansions, agreements, and new product launches.
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