Genetic Testing Market Growth is Expected to Account for 10.5% CAGR to Gain USD 19.8 Billion by 2032

Genetic Testing Market Size and Trends Analysis By Type (Prescribed Genetic Testing and Direct-to-Consumer Genetic Testing), Method (Molecular Genetic Tests/ DNA Tests, Chromosomal Genetic Tests and Biochemical Genetic Tests), By Application (Reproductive Health (Newborn Screening, Prenatal Screening and Carrier Screening), Cancer Screening (Hereditary Cancer, Breast Cancer, Ovarian Cancer and Colon Cancer), Ancestry, Predictive and Pre-Symptomatic Testing and others) – Forecast till 2032

Market Research Future Insights

According to MRFR analysis, the Genetic Testing Market is expected to register a CAGR of 10.5% from 2022 to 2032 and hold a value of over USD 19.8 billion by 2032.

The Genetic Testing Market refers to the industry that encompasses the various products and services related to genetic testing. Genetic testing involves analyzing an individual’s DNA to identify any genetic variations, mutations, or predispositions to certain diseases or conditions.

The market for genetic testing has experienced significant growth in recent years due to advancements in technology, increased awareness about genetic disorders, and a growing demand for personalized medicine. Genetic testing can be conducted through various methods, including laboratory-based tests, direct-to-consumer (DTC) genetic testing kits, and non-invasive prenatal testing (NIPT).

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The COVID-19 pandemic had significant impacts on the Genetic Testing Market. Due to the overwhelming focus on COVID-19 testing, non-COVID genetic testing procedures, such as routine screenings and diagnostic tests for other genetic disorders, experienced a temporary decline. Healthcare resources and laboratory capacities were redirected towards COVID-19 testing, leading to delays or cancellations of non-urgent genetic tests.

Genetic Testing Market Key Players

Some of the key market players are:

• PerkinElmer Inc. (US)
• Myriad Genetics Inc. (US)
• Abbott Laboratories (US)
• Illumina Inc. (US)
• QIAGEN (Germany)
• Eurofins Scientific (US)
• Quest Diagnostics Incorporated (US)
• Hoffmann-La Roche Ltd (Switzerland)
• Thermo Fisher Scientific Inc. (US)

Genetic Testing Market Segmentation

The Genetic Testing Market has been segmented into type and application.

Based on the type, the market has been segmented into Molecular Genetic Tests/ DNA Tests, Chromosomal Genetic Tests and Biochemical Genetic Tests.

Based on the application, the market has been segmented into reproductive health, cancer screening ancestry and predictive and pre-symptomatic testing.

Browse In-depth Market Research Report (150 Pages) on Genetic Testing: https://www.marketresearchfuture.com/reports/genetic-testing-market-2009

Genetic Testing Market Regional Analysis

The largest region in the Genetic Testing Market was North America, particularly the United States. The region has been at the forefront of technological advancements in genetic testing, including the development of high-throughput sequencing technologies and advanced bioinformatics tools. The presence of leading biotechnology and diagnostic companies in the United States has contributed to the region’s dominance in the market.

North America has a well-developed healthcare infrastructure with advanced laboratory facilities and a robust regulatory framework for genetic testing. This infrastructure enables efficient and accurate testing services, fostering the growth of the genetic testing market in the region.

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