Genetic Testing Services Market By Product Type, By Manufacturers, By End-User And Market Trend Analysis Forecast 2033

The genetic testing services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Genetic Testing Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -
The genetic testing services market size has grown rapidly in recent years. It will grow from $17.29 billion in 2023 to $19.19 billion in 2024 at a compound annual growth rate (CAGR) of 11%. The growth in the historic period can be attributed to increasing demand for personalized and precision medicine, growing prevalence of genetic disorders, high demand for prenatal testing during pregnancy, increasing population, and increased awareness and education.

The genetic testing services market size is expected to see rapid growth in the next few years. It will grow to $29.47 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to the growing demand for non-invasive prenatal testing (NIPT), the rise of pharmacogenomics, the growing focus on preventive healthcare, increasing direct-to-consumer (DTC) testing, and the focus on rare diseases and personalized therapies. Major trends in the forecast period include 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 advanced healthcare infrastructure.

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The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Genetic Testing Services Market Overview

Market Drivers -
Major Driver Impacting Market Growth

Market Trends -
Major companies operating in the genetic testing services market are focusing on developing advanced technological solutions such as cancer screening tests, to enhance accuracy, expand testing capabilities, and improve overall patient outcomes. Cancer screening tests refer to routine, periodic tests conducted on individuals without symptoms to detect signs of cancer early. These tests aim to identify cancer or precancerous conditions before symptoms manifest, making treatment more effective. For instance, in June 2022, Prenetics Group Limited, a Hong Kong-based diagnostic and genetic testing company, launched ColoClear, a non-invasive stool DNA test in Hong Kong, which offers a highly sensitive screening method for detecting early signs of colorectal cancer. This innovative test combines advanced stool DNA technology with a fecal immunochemical test (FIT) to provide a convenient and effective alternative to colonoscopy. ColoClear has shown a sensitivity of 96% in detecting colorectal cancer and 64% in advanced adenoma detection in clinical studies.

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

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Regional Insights -
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.

Key Companies -
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

Table of Contents
1. Executive Summary
2. Genetic Testing Services Market Report Structure
3. Genetic Testing Services Market Trends And Strategies
4. Genetic Testing Services Market – Macro Economic Scenario
5. Genetic Testing Services Market Size And Growth
…..
27. Genetic Testing Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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