Increasing Prevalence Of Genetic Disorders Fuels Growth In Genetic Testing Services Market: Key Factor Driving The Growth In The Genetic Testing Services Market

The Genetic Testing Services 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 Expected Genetic Testing Services Market Size During the Forecast Period?
The genetic testing services market has expanded rapidly in recent years. It will grow from $19.19 billion in 2024 to $21.42 billion in 2025, at a compound annual growth rate (CAGR) of 11.6%. This growth can be attributed to the increasing demand for personalized and precision medicine, the rising prevalence of genetic disorders, high demand for prenatal testing, population growth, and greater awareness and education.

The genetic testing services market is expected to grow rapidly, reaching $32.77 billion by 2029 at a CAGR of 11.2%. Growth is attributed to the rising demand for non-invasive prenatal testing, pharmacogenomics, preventive healthcare, direct-to-consumer testing, and personalized therapies. Key trends include AI and machine learning integration, advancements in user-friendly testing kits, next-gen sequencing, microarray analysis, PCR, and improved healthcare infrastructure.

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What Are the High-Growth Segments in the Genetic Testing Services Market?
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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What Key Drivers Are Expected to Influence Future Genetic Testing Services Market Growth?
The rising prevalence of genetic disorders is anticipated to drive the genetic testing services market. Genetic disorders result from DNA abnormalities and often lead to physical or developmental issues. Their rising occurrence is linked to improved diagnostics, broader screening, increased public awareness, and consanguineous marriages in certain populations. Genetic testing services assist in identifying genetic conditions, guiding treatment, and informing family planning. For example, in February 2023, the World Health Organization (WHO) noted that congenital disorders cause around 240,000 newborn deaths globally each year. Additionally, the Centers for Disease Control and Prevention (CDC) reported that about 6,000 babies are born annually in the US with Down syndrome, approximately 1 in every 700 births. Therefore, the growing prevalence of genetic disorders is propelling the genetic testing services market.

Which Companies Hold the Largest Share Across Different Genetic Testing Services Market Segments?
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

What Genetic Testing Services Market Trends Are Gaining Traction Across Different Segments?
Major firms in the genetic testing services sector are honing their focus on devising state-of-the-art technological solutions like cancer screening tests. The aim is to enhance the level of accuracy, broaden testing capacities, and ultimately improve patient outcomes. Such screening tests for cancer are done periodically in healthy individuals to detect any early warning signs of cancer. The ultimate goal is to discover cancer or precancerous states before symptoms develop, increasing the efficacy of treatment. For example, Prenetics Group Limited, a diagnostic and genetic testing firm based in Hong Kong, rolled out ColoClear, a non-invasive stool DNA test in Hong Kong in June 2022. ColoClear, a highly sensitive screening technique for early detection of colorectal cancer signs, blends advanced stool DNA technology with a fecal immunochemical test (FIT), thereby offering a practical and efficient substitute for colonoscopy. Clinical studies reveal that ColoClear test exhibited 96% sensitivity in colorectal cancer detection and 64% in advanced adenoma recognition.

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What Are the Emerging Geographies for The Genetic Testing Services Market Growth?
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.

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

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