Genetic Testing Market to Reach USD 51.55 billion by 2032, Fueled by Personalized Healthcare

The genetic testing market has progressed substantially over the past years owing to major improvements in technologies, growing healthcare needs, and increased awareness. The market is majorly impacted by growing awareness and demand and improvements in technologies. There is a rising public awareness and growing interest in genetic testing, propelled by media coverage and educational campaigns for different health conditions common across the globe.

Global Genetic Testing Market size was valued at USD 8.0 billion in 2023 and is poised to grow from USD 9.84 billion in 2024 to USD 51.55 billion by 2032, growing at a CAGR of 23.0% during the forecast period (2025-2032).

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Key Growth Drivers:

Rising Demand for Personalized Medicine: Growing awareness among healthcare professionals and patients about the benefits of personalized treatments is accelerating the adoption of genetic testing across diagnostic centers and hospitals.
Technological Breakthroughs: Next-generation sequencing (NGS), CRISPR, and microarray technologies have made genetic testing more accurate, accessible, and cost-effective.
Increased Prevalence of Genetic Disorders: The growing number of individuals affected by genetic and hereditary conditions is driving demand for more efficient diagnostic tools.

Market Segmentation Insights:

Global Genetic Testing Market is segmented by Technology, Application, Product, Channel, End Use and region.

Based on Technology, the market is segmented into Next Generation Sequencing, Array Technology, PCR - based Testing, FISH and Others.
Based on Application, the market is segmented into Ancestry & Ethnicity, Traits Screening, Genetic Disease Carrier Status, New Baby Screening and Health and Wellness - Predisposition/ Risk / Tendency.
Based on Product, the market is segmented into Consumables, Equipment and Software & Services.
Based on Channel, the market is segmented into Online and Offline.
Based on End Use, the market is segmented into Hospitals & Clinics, Diagnostic Laboratories and Others.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Regional Outlook:

Geographically, North America is dominating the genetic testing market owing to various reasons including economic, technological and societal factors. The leading nations in the region like Canada, the United States, brag about well-established healthcare infrastructure with modernized facilities, clinical laboratories, and research institutes. This infrastructure aids the broader use and innovations in genetic testing techniques. This, along with innovations in the region, is driving the growth of the market. The leading companies in North America include 23andMe, Illumina Inc., Blueprint Genetics Oy, Quest Diagnostics, Myriad Genetics, and more.

Asia-Pacific is expected to be the fastest-growing region among others owing to several factors that impact the region's unique economic, demographic, and healthcare dynamics. Rising health awareness and an ever-growing population are propelling the market in the region. Asia-Pacific is home to a speedily and large growing population. Growing emphasis on preventive healthcare and rising health awareness propel the demand for these services as people are seeking early diagnostics and personalized health services.

Key Players:

Illumina, Inc. (USA)
Roche Holding AG (Switzerland)
Thermo Fisher Scientific Inc. (USA)
QIAGEN N.V. (Netherlands)
Abbott Laboratories (USA)
Agilent Technologies, Inc. (USA)
Bio-Rad Laboratories, Inc. (USA)
Danaher Corporation (USA)
Myriad Genetics, Inc. (USA)
23andMe, Inc. (USA)
Invitae Corporation (USA)
Natera, Inc. (USA)
NeoGenomics, Inc. (USA)
Guardant Health, Inc. (USA)
Siemens Healthineers AG (Germany)
Hologic, Inc. (USA)
BGI Genomics Co., Ltd. (China)
Eurofins Scientific (Luxembourg)
Adaptive Biotechnologies Corporation (USA)

Recent Developments:

A biotechnology firm recently expanded its operations in Massachusetts to advance AI-driven RNA therapeutics, indicating increased investments in genetic innovation.
A major diagnostics company launched a new consumer-initiated genetic test to help individuals proactively assess their risk of inherited conditions.

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This release was published on openPR.