Genetic Testing Services Market Insights 2025-2034: Growth Forecast and Strategic Priorities

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Genetic Testing Services Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent years, the market size for genetic testing services has seen rapid expansion. The projection is that it will increase from a worth of $19.19 billion in 2024 to a value of $21.42 billion in 2025, with a compound annual growth rate (CAGR) of 11.6%. Factors contributing to the growth in the past period include the rising need for personalized and precision medicine, enhanced prevalence of genetic disorders, high demand for prenatal tests during pregnancy, a growing population, and a surge in awareness and education.

Genetic Testing Services Market Size Forecast: What's the Projected Valuation by 2029?
The market for genetic testing services is predicted to witness a swift expansion in the coming years, anticipated to reach a size of $32.77 billion by 2029 with a compound annual growth rate (CAGR) of 11.2%. The projected enlargement during the forecast timeframe can be credited to factors such as the rising need for non-invasive prenatal testing (NIPT), the emergence of pharmacogenomics, the increasing attention on preventive healthcare, the growth in direct-to-consumer (DTC) testing, and emphasis on rare diseases and personalized treatments. Key trends during the forecast period encompass artificial intelligence (AI) and machine learning, advancements in user-friendly testing kits and online platforms, next-generation sequencing, microarray analysis, polymerase chain reaction (PCR), and superior healthcare infrastructure.

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What Are the Drivers Transforming the Genetic Testing Services Market?
The rising incidence of genetic disorders is anticipated to accelerate the expansion of the genetic testing services market. Genetic disorders arise from anomalies in a person's DNA, resulting in physical or developmental defects. The escalating incidence of these disorders can be traced back to factors like growing awareness, improved diagnostic methods, extensive genetic screenings, and an uptick in consanguineous marriages among some groups. Genetic testing services are becoming more popular in diagnosing, prognosticating, and making treatment decisions for those suffering from genetic disorders. These services facilitate personalized healthcare and family planning measures, taking into account the genetic composition of an individual. For example, the World Health Organization reported in February 2023 that globally, genetic diseases account for around 240,000 infant mortalities within the first 28 days of birth annually. Furthermore, the Centers for Disease Control and Prevention, a US government agency, stated that approximately 6,000 infants are born with Down syndrome each year in the US, which equates to 1 in every 700 babies. Consequently, the rising incidence of genetic disorders is propelling the genetic testing services market.

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What Long-Term Trends Will Define the Future of the Genetic Testing Services Market?
Companies that are key players in the genetic testing services sector are striving to introduce cutting-edge technological solutions, such as cancer screening exams, in their quest to augment accuracy, broaden testing capacities, and enhance patient results overall. Cancer screening examination involves consistent, routine tests conducted on people without any symptoms with the intention to identify early signs of cancer. The objective is to catch cancer or precancerous conditions prior to the onset of symptoms, thereby making treatments more efficient. For instance, in June 2022, Prenetics Group Limited, a company based out of Hong Kong dedicated to diagnostics and genetic testing, unveiled ColoClear, a non-invasive stool DNA test, in Hong Kong. This test emerges as a highly sensitive screening procedure for identifying initial indicators of colorectal cancer. This innovative test marries advanced stool DNA technology with a fecal immunochemical test (FIT), creating a user-friendly and effective alternative to colonoscopy. In clinical studies, ColoClear has demonstrated a detection sensitivity of 96% for colorectal cancer and 64% for advanced adenoma.

Which Segments in the Genetic Testing Services Market Offer the Most Profit Potential?
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 Firms Dominate the Genetic Testing Services Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in 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.

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