Number of pages: 120 | Report Format: PDF | Published date: 01 February, 2020
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global genetic testing market was pegged at US$ 13.89 billion in 2020 and is expected to witness a CAGR of 10.3% during the forecast period.
Genetic testing/DNA testing is a type of medical test that identifies changes in chromosomes, genes, or proteins. The results of a genetic test can confirm or rule out a suspected genetic condition or help determine a person's chance of developing or passing on a genetic disorder. It is also used to predict risks for specific conditions, or gain information that can be used to customize medical treatments based on an individua's genetic makeup. Genetic testing can also be used to determine biological relatives, such as a child's parentage (genetic mother and father) through DNA paternity testing, or can be used to broadly predict an individual's ancestry.
The global genetic testing market is mainly driven by increasing prevalence of chronic diseases, infectious diseases and genetic disorders; technological advancements; and increasing demand for prenatal genetic testing procedures. Furthermore, increasing applications of genetic testing in precision medicine are also likely to play a pivotal role in contributing to the growth of the market globally. However, concerns related to ethical issues are likely to restrain the market growth to a certain extent.
The global genetic testing market has been analyzed from three perspectives: Testing Type, Technology, and Region.
Genetic Testing Market by Testing Type
Based on testing type, the genetic testing market has been segmented into prenatal & newborn testing, diagnostic testing, carrier testing, predictive & presymptomatic testing, pharmacogenomic testing, and others (forensic testing, paternity testing, etc.). The prenatal & newborn testing segment dominated the market with the largest share in 2020. The growth of the segment can be attributed to growing initial screening tests during new pregnancies and in newborn babies to identify genetic disorders that can be treated early in life.
Genetic Testing Market by Technology
Based on technology, the genetic testing market has been segmented into cytogenetic testing, biochemical testing, and molecular testing. Molecular testing segment dominated the market with the largest share in 2020 owing to its wide use in detection of various chronic and infectious diseases. Furthermore, sudden viral outbreaks such as H1N1 & COVID-19 and an increase in their incidence across the globe have raised the demand for effective molecular testing technologies. This factor is expected to boost the growth of the market significantly.
Genetic Testing Market by Region
Based on region, the global genetic testing market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the genetic testing market in 2020, followed by Asia Pacific. The large share of North America in the global market can largely be attributed to the developed healthcare infrastructure, greater adoption of advanced testing technologies, and presence of the prominent players in the region. Moreover, high prevalence of cancer and genetic disorders along with growing applications of genetic testing in screening of these diseases is also expected to contribute to the market growth in the region.
Some of the prominent players operating in the genetic testing market includes:-