Genetic Testing Market Anticipated To Witness Robust Growth, Surpassing $30.45 Billion By 2029

The Genetic Testing Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Genetic Testing Market Size and Its Estimated Growth Rate?
The size of the genetic testing market has significantly increased over the past few years. The market, which stood at $19.1 billion in 2024, is projected to escalate to $20.92 billion in 2025, with a compound annual growth rate (CAGR) of 9.5%. The expansion during the historical period has been credited to factors such as the hike in healthcare spending, a surge in cancer incidents, a growing demand for bespoke medicine, and the surfacing of new infectious diseases.

Strong growth is anticipated in the genetic testing market size in the coming years, projecting a surge to $30.45 billion by 2029, with a compound annual growth rate (CAGR) of 9.8%. This growth over the forecast period is likely due to factors such as heightened government backing, an increase in documented cases of genetic disorders, a growing elderly population, and a rise in chronic disease incidence. Main trends throughout this forecast period involve initiating new schemes like genetic counseling and informatics programs, which will help shape future genetic testing advancements, technological enhancements, and the launch of direct-to-consumer genetic tests.

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How Are Emerging Segments Shaping the Genetic Testing Market Landscape?
The genetic testing market covered in this report is segmented -

1) By Type: Predictive Testing, Carrier Testing, Prenatal And Newborn Testing, Diagnostic Testing, Pharmacogenomics Testing, Nutrigenomic Testing, Other Types
2) By Technology: Cytogenetic Testing, Biochemical Testing, Molecular Testing
3) By Application: Cancer Diagnosis, Genetic Disease Diagnosis, Cardiovascular Disease Diagnosis, Other Applications
4) By End User: Hospitals And Clinics, Diagnostic Laboratories And Centres, Other End Users

Subsegments:
1) By Predictive Testing: Genetic Risk Assessment, Family History-Based Testing
2) By Carrier Testing: Single Gene Carrier Testing, Expanded Carrier Screening
3) By Prenatal And Newborn Testing: Non-Invasive Prenatal Testing (NIPT), Newborn Screening Tests
4) By Diagnostic Testing: Confirmatory Genetic Testing, Clinical Diagnostic Testing
5) By Pharmacogenomics Testing: Drug Response Testing, Adverse Drug Reaction Testing
6) By Nutrigenomic Testing: Dietary Response Testing, Metabolism Testing
7) By Other Types: Ancestry Testing, Whole Genome Sequencing

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Which Growth Factors Are Influencing Genetic Testing Market Expansion?
The escalating occurrence of genetic disorders is anticipated to drive the expansion of the genetic testing market in the future. These disorders can cause symptoms at birth or develop gradually over time. Genetic testing aids in diagnosing these genetic problems and provides information about the potential risk of developing cancer. As indicated by a 2024 report from the Switzerland-based Intergovernmental organization, the World Health Organization, genetic disorders and congenital abnormalities impact between 2%-5% of newborns. These disorders are also responsible for 30% of pediatric hospital admissions, leading to approximately 50% of childhood fatalities in industrialized nations. Hence, the increasing occurrence of genetic disorders serves as a potent catalyst for the genetic testing market's growth.

Who Are the Dominant Players Across Different Genetic Testing Market Segments?
Major companies operating 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., BGI, Berry Genomics Co. ltd, Daan Gene Co. Ltd, Annoroad Gene Technology Co. Ltd, WuXi PharmaTech, Igenomix, Circle DNA, Centogene, Curetis, Cytena, Probably Genetic, Genome Biologics, WuXi NextCODE, Genomtec, Testgene, Evogen Lab, Phosphorus, Helix, Sequencing, 10x Genomics, Quantgene, Virica Biotech, DNALabs, Deep Genomics, SGS Mexico, Hologic Inc, 23andMe Inc, Middle East Testing Services L.L.C, Molecular Biology & Genetics Laboratory, Freiburg Medical Laboratory Middle East, IVI MIDDLE EAST FERTILITY CLINIC, Bio Certica

What Are the Latest Developing Trends in the Genetic Testing Market?
One significant trend emerging in the genetic testing market is the rise of direct-to-consumer genetic tests. These are tests where individuals can collect their own samples at home and send them to a lab to determine their genetic susceptibility to certain diseases. Such at-home genetic tests delve into the subject's DNA to identify gene alterations that may increase the likelihood of certain health conditions. For example, in 2022, an Indian company, DNALabs, who specialize in genetic testing solutions with the goal of revolutionizing personalized medicine, launched their At-Home Genetic Testing Solutions. With a simple at-home DNA collection kit involving a cheek swab, DNALabs empowers individuals and healthcare providers to make informed decisions concerning their own health or determining the optimal treatment plans for their patients.

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Which Geographic Regions Are Expected to Dominate the Genetic Testing Market in the Coming Years?
North America was the largest region in the genetic testing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genetic testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Genetic Testing Market?
2. What is the CAGR expected in the Genetic Testing Market?
3. What Are the Key Innovations Transforming the Genetic Testing Industry?
4. Which Region Is Leading the Genetic Testing Market?

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