Genetic Testing Market Size, Trends and Insights Technology Outlook (Next Generation Sequencing, Array Technology, PCR-based Testing, FISH, Others), Application Outlook (Ancestry & Ethnicity, Traits Screening, Genetic Disease Carrier Status, New Baby Screening, Health and Wellness-Predisposition/Risk/Tendency), Product Outlook (Consumables, Equipment, Software & Services), Channel Outlook (Online, Offline), End-user Outlook (Hospitals & Clinics, Diagnostic Laboratories, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI23270

Published Date: April 2023

Pages: 220+

Category: Healthcare

Report Snapshot

CAGR: 22%
5,143.65M
2022
9,053.72M
2023
36,420.49M
2030

Source: CMI

Study Period: 2023-2030
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • 24 genetics
  • Circle DNA
  • Tellmegen
  • 23andme
  • AncestryDNA
  • MyDNA
  • Others

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Reports Description

As per the current market research conducted by Custom Market Insight Team, the global genetic testing market is expected to record a CAGR of 22% from 2023 to 2030. In 2023, the market size is projected to reach a valuation of US$ 9,053.72 million. By 2030, the valuation is anticipated to reach US$ 36,420.49 million.

The Genetic Testing market refers to the industry that offers genetic tests and related services to individuals, healthcare providers, and researchers. Genetic testing involves analyzing an individual’s DNA to identify genetic variations or mutations that may be associated with certain diseases, conditions, or traits. These tests can be used for diagnostic purposes, to determine an individual’s risk of developing certain diseases or conditions, to guide treatment decisions, or for research purposes.

The market for genetic testing has been growing rapidly in recent years, driven by advances in technology and increasing demand for personalized healthcare. This market includes a range of players, including diagnostic laboratories, healthcare providers, biotechnology companies, and direct-to-consumer genetic testing companies.

Genetic Testing Market – Significant Growth Factors

The Genetic Testing market offers significant growth opportunities, driven by various factors such as advancements in technology, increasing awareness of genetic testing among patients and healthcare providers, and the growing prevalence of genetic disorders and chronic diseases.

One of the key growth drivers is the increasing demand for personalized medicine. As genetic testing becomes more sophisticated and affordable, healthcare providers are increasingly using genetic information to tailor treatments to the individual patient’s genetic makeup, which can lead to more effective and efficient healthcare outcomes.

Another growth driver is the increasing popularity of direct-to-consumer genetic testing, which allows individuals to access their genetic information without a healthcare provider’s involvement. Direct-to-consumer genetic testing companies are expanding their offerings beyond ancestry and genealogy, providing consumers with information about their risk for certain diseases, carrier status, and drug response.

Furthermore, advancements in technology, such as next-generation sequencing and genome editing, are enabling researchers to identify new genetic targets for drug development and gene therapies, which are expected to drive the growth of the genetic testing market.

The Genetic Testing market is expected to continue to grow in the coming years, driven by the increasing demand for personalized medicine, expanding applications of genetic testing, and ongoing technological advancements.

Attributes Value
Genetic Testing Market Expected Value (2023) US$ 9,053.72 million
Genetic Testing Market Forecast Value (2030) US$ 36,420.49 million
Genetic Testing Market Expected CAGR (2023 to 2030) 22%

Genetic Testing Market – Mergers and Acquisitions

The Genetic Testing market has seen significant mergers and acquisitions activity in recent years, as companies seek to expand their offerings and gain a competitive edge in the rapidly evolving market. Some notable examples of mergers and acquisitions in the Genetic Testing market include:

  • In 2018, Thermo Fisher Scientific acquired a clinical testing laboratory, IntegenX Inc., to expand its offering of genetic testing and analysis solutions.
  • In 2019, Illumina, a leading manufacturer of DNA sequencing technology, acquired Pacific Biosciences, a company that specializes in long-read DNA sequencing, to enhance its genetic testing and research capabilities.
  • In 2020, Invitae, a leading provider of genetic testing services, acquired YouScript, a company that offers personalized medication management solutions based on genetic information.
  • In 2021, Quest Diagnostics, a leading provider of diagnostic information services, acquired genetic testing company Blueprint Genetics, to expand its offering of genetic testing solutions for inherited conditions.

These mergers and acquisitions have allowed companies to expand their product portfolios, enhance their capabilities, and increase their market share in the Genetic Testing market. As the demand for genetic testing continues to grow, it is likely that we will see further mergers and acquisitions in the industry in the coming years.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Genetic Testing Market Electric Bed Market Cardiac Catheters Market
CAGR 22% (Approx) CAGR 7%

(Approx)

7.65%

(Approx)

USD 36,420.49 million by 2030 USD 5 billion by 2030 USD 25.5 Billion by 2030.

Genetic Testing Market – Significant Threats

While the Genetic Testing market presents significant growth opportunities, there are also some significant threats that could impact the market’s growth and development. Some of these threats include:

  • Ethical and legal issues: The use of genetic information raises ethical and legal concerns, particularly around privacy and discrimination. As more genetic information is collected and analyzed, there is a risk that it could be misused or improperly shared, leading to unintended consequences and loss of trust.
  • Regulatory challenges: The Genetic Testing market is subject to regulation by various government bodies, including the FDA in the US and the EMA in Europe. Changes in regulatory requirements could impact the market’s growth, particularly for new and innovative tests and technologies.
  • Limited reimbursement: In many countries, including the US, reimbursement for genetic testing is limited or uncertain, which can limit patient access to testing and impact the profitability of companies offering genetic testing services.
  • Competition: The Genetic Testing market is becoming increasingly crowded, with new entrants and established players vying for market share. This competition can lead to price pressure and lower margins, particularly for commoditized tests and services.
  • Lack of standardized interpretation: The interpretation of genetic test results can be complex and subject to interpretation, which can lead to confusion and inconsistent recommendations for patients and healthcare providers.

These threats underscore the importance of responsible innovation and collaboration among stakeholders in the Genetic Testing market to ensure that genetic testing is used in a safe, ethical, and effective manner.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 9,053.72 Million
Projected Market Size in 2030 USD 36,420.49 Million
Market Size in 2022 USD 5,143.65 Million
CAGR Growth Rate 22% CAGR (2022-2030)
Base Year 2022
Forecast Period 2023-2032
Key Segment By Technology Outlook, Application Outlook, Product Outlook, Channel Outlook, End-user Outlook, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

Technology Insights:

The next-generation sequencing segment is expected to experience the fastest growth in the genetic testing market, with a projected CAGR of 24.03% during the forecast period. This growth can be attributed to an increase in genome mapping programs, rising healthcare expenditure, technological advancements, and a broader range of applications for next-generation sequencing.

DNA sequencing technologies are being used more frequently to identify and characterize various cancer types and genetic disorders. Tumor DNA sequencing, using genetic testing or profiling, can identify unique DNA alterations that help healthcare professionals determine specifically targeted treatment plans. Therefore, the growing incidence of cancer and genetic disorders is driving demand for genetic testing in both clinical and research settings.

Array technology is also expected to grow significantly in the genetic testing industry due to the increasing prevalence of cancer, which is resulting in a higher adoption rate of DNA-based array technology for genetic disease diagnosis and personalized medicine. Array technology is a laboratory tool that studies the expression of various genes at once by using thousands of gene sequences on a gene chip. This technique is widely used for early-stage cancer detection, gene expression analysis, and drug discovery.

Global Genetic Testing Market 2023–2030 (By Million)

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Application Insights

In 2022, the health and wellness-predisposition/risk/tendency segment held the largest share of 48% in the global genetic testing market. This segment is expected to continue its dominance and exhibit the fastest growth rate during the forecast period. Predictive genetics testing and consumer/wellness genomics are in high demand due to the growing trends of healthy lifestyles and healthcare awareness campaigns.

Genetic testing can help identify potential disease risks and provide information and statistics about an individual’s genetic makeup. It is particularly valuable for individuals with a family history of genetic disorders. However, challenges such as the high cost of genomic research equipment and the complexity of predictive genetic testing and consumer/wellness genomics could limit the growth of the genetic testing industry during the forecast period.

The genetic disease carrier status segment is also projected to experience significant growth in the market. This type of test assesses the likelihood of ancestral DNA matching with all known genomic information to the greatest extent possible.

Product Insights

The consumables segment dominated the global genetic testing industry in 2022, accounting for 63.67% of the market. Several players supply and sell consumables, offering a broad range of products in reagents and accessories. Consumables for genetic testing are expected to show a high growth rate in the future due to their continuous and repetitive usage during the testing process.

Many competitors in the testing consumables market are pursuing organic and inorganic growth strategies to expand their existing product portfolio, strengthen their market position, and expand their geographic reach. Likewise, the service segment is expected to experience significant growth during the forecast period.

Channel Insights

With a projected CAGR of 25.06%, the online channel is expected to experience the fastest growth in the genetic testing market. The direct-to-consumer marketing strategy is driving this growth, primarily due to increased research funding in molecular biology, a rise in direct-to-consumer testing, and increased awareness and acceptance of personalized medicine. Direct-to-consumer companies offer tests to customers through over-the-counter and online channels, making the tests easily accessible for consumers.

Global Genetic Testing Market 2023–2030 (Channel Outlook)

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End-user Insights

In 2022, the hospitals and clinics segment accounted for the largest share of market revenue at 47.06%. This is mainly attributed to the mandatory newborn screening for genetic disorders and the increasing incidence of cancer in various regions. In the United States, about 98% of women give birth in hospitals, and an expected expansion in the capacity of hospitals and clinics is anticipated to drive the demand for genetic testing.

Genetic Testing Market – Regional Analysis

The genetic testing market is segmented into several regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

  • North America dominated the market in 2022 with the largest revenue share due to the increasing incidence of genetic disorders, growing adoption of personalized medicine, and the presence of a large number of key players in the region.
  • Europe is the second-largest market for genetic testing, with significant revenue generated from the growing prevalence of chronic diseases and the increasing demand for advanced genetic testing services.
  • The Asia-Pacific region is expected to exhibit the fastest growth during the forecast period due to the rising prevalence of cancer and genetic disorders, increasing awareness and acceptance of personalized medicine, and the growing adoption of genetic testing in the region’s emerging economies.
  • Latin America the Middle East and Africa are also expected to experience significant growth in the genetic testing market due to the increasing demand for personalized medicine and growing government initiatives to improve healthcare infrastructure.

Global Genetic Testing Market 2023–2030 (Product Outlook)

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Competitive Landscape – Genetic Testing Market

The global genetic testing market is highly competitive and fragmented, with many global and regional players competing for market share. Some of the major players in the market include:

  • 24 genetics
  • Circle DNA
  • Tellmegen
  • 23andme
  • AncestryDNA
  • MyDNA
  • Everly Well
  • Igenomix
  • VitaGen
  • Myriad Genetics Inc.
  • Mapmygenome
  • Helix OpCo LLC
  • MyHeritage Ltd.
  • Illumina Inc.
  • Color Genomics Inc.
  • Amgen Inc.
  • Beyond Nutrition Health
  • Wellness Services DMCC
  • Others

These companies are adopting various growth strategies such as mergers and acquisitions, partnerships, collaborations, and product launches to expand their market presence and increase their revenue share. Moreover, companies are focusing on developing innovative products and services to meet the increasing demand for genetic testing across different applications and end-users. The market is also witnessing a trend of increasing partnerships and collaborations between companies to strengthen their product portfolios and accelerate the development and commercialization of advanced genetic testing solutions.

Segmentation Analysis:

Technology Outlook

  • Next Generation Sequencing
  • Array Technology
  • PCR-based Testing
  • FISH
  • Others

Application Outlook

  • Ancestry & Ethnicity
  • Traits Screening
  • Genetic Disease Carrier Status
  • New Baby Screening
  • Health and Wellness-Predisposition/Risk/Tendency

Product Outlook

  • Consumables
  • Equipment
  • Software & Services

Channel Outlook

  • Online
  • Offline

End-user Outlook

  • Hospitals & Clinics
  • Diagnostic Laboratories
  • Others

By Region

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Genetic Testing Market, (2023 – 2030) (USD Million)
    • 2.2 Global Genetic Testing Market : snapshot
  • Chapter 3. Global Genetic Testing Market – Industry Analysis
    • 3.1 Genetic Testing Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing awareness of newborn screening and the rising prevalence rate of genetic disorders
      • 3.2.2 Increasing demand for personalized medicine
      • 3.2.3 Increasing popularity of direct-to-consumer genetic testing
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Technology Outlook
      • 3.7.2 Market attractiveness analysis By Application Outlook
      • 3.7.3 Market attractiveness analysis By Product Outlook
      • 3.7.4 Market attractiveness analysis By Channel Outlook
      • 3.7.5 Market attractiveness analysis By End-user Outlook
  • Chapter 4. Global Genetic Testing Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Genetic Testing Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Genetic Testing Market – Technology Outlook Analysis
    • 5.1 Global Genetic Testing Market overview: By Technology Outlook
      • 5.1.1 Global Genetic Testing Market share, By Technology Outlook, 2022 and 2030
    • 5.2 Next Generation Sequencing
      • 5.2.1 Global Genetic Testing Market by Next Generation Sequencing, 2023 – 2030 (USD Million)
    • 5.3 Array Technology
      • 5.3.1 Global Genetic Testing Market by Array Technology, 2023 – 2030 (USD Million)
    • 5.4 PCR-based Testing
      • 5.4.1 Global Genetic Testing Market by PCR-based Testing, 2023 – 2030 (USD Million)
    • 5.5 FISH
      • 5.5.1 Global Genetic Testing Market by FISH, 2023 – 2030 (USD Million)
    • 5.6 Others
      • 5.6.1 Global Genetic Testing Market by Others, 2023 – 2030 (USD Million)
  • Chapter 6. Global Genetic Testing Market – Application Outlook Analysis
    • 6.1 Global Genetic Testing Market overview: By Application Outlook
      • 6.1.1 Global Genetic Testing Market share, By Application Outlook, 2022 and 2030
    • 6.2 Ancestry & Ethnicity
      • 6.2.1 Global Genetic Testing Market by Ancestry & Ethnicity, 2023 – 2030 (USD Million)
    • 6.3 Traits Screening
      • 6.3.1 Global Genetic Testing Market by Traits Screening, 2023 – 2030 (USD Million)
    • 6.4 Genetic Disease Carrier Status
      • 6.4.1 Global Genetic Testing Market by Genetic Disease Carrier Status, 2023 – 2030 (USD Million)
    • 6.5 New Baby Screening
      • 6.5.1 Global Genetic Testing Market by New Baby Screening, 2023 – 2030 (USD Million)
    • 6.6 Health and Wellness-Predisposition/Risk/Tendency
      • 6.6.1 Global Genetic Testing Market by Health and Wellness-Predisposition/Risk/Tendency, 2023 – 2030 (USD Million)
  • Chapter 7. Global Genetic Testing Market – Product Outlook Analysis
    • 7.1 Global Genetic Testing Market overview: By Product Outlook
      • 7.1.1 Global Genetic Testing Market share, By Product Outlook, 2022 and 2030
    • 7.2 Consumables
      • 7.2.1 Global Genetic Testing Market by Consumables, 2023 – 2030 (USD Million)
    • 7.3 Equipment
      • 7.3.1 Global Genetic Testing Market by Equipment, 2023 – 2030 (USD Million)
    • 7.4 Software & Services
      • 7.4.1 Global Genetic Testing Market by Software & Services, 2023 – 2030 (USD Million)
  • Chapter 8. Global Genetic Testing Market – Channel Outlook Analysis
    • 8.1 Global Genetic Testing Market overview: By Channel Outlook
      • 8.1.1 Global Genetic Testing Market share, By Channel Outlook , 2022 and 2030
    • 8.2 Online
      • 8.2.1 Global Genetic Testing Market by Online, 2023 – 2030 (USD Million)
    • 8.3 Offline
      • 8.3.1 Global Genetic Testing Market by Offline, 2023 – 2030 (USD Million)
  • Chapter 9. Global Genetic Testing Market – End-user Outlook Analysis
    • 9.1 Global Genetic Testing Market overview: By End-user Outlook
      • 9.1.1 Global Genetic Testing Market share, By End-user Outlook , 2022 and 2030
    • 9.2 Hospitals & Clinics
      • 9.2.1 Global Genetic Testing Market by Hospitals & Clinics, 2023 – 2030 (USD Million)
    • 9.3 Diagnostic Laboratories
      • 9.3.1 Global Genetic Testing Market by Diagnostic Laboratories, 2023 – 2030 (USD Million)
    • 9.4 Others
      • 9.4.1 Global Genetic Testing Market by Others, 2023 – 2030 (USD Million)
  • Chapter 10. Genetic Testing Industry – Regional Analysis
    • 10.1 Global Genetic Testing Industry Regional Overview
    • 10.2 Global Genetic Testing Industry Share, by Region, 2022 & 2030 (USD Million)
    • 10.3. North America
      • 10.3.1 North America Genetic Testing Industry, 2023 – 2030 (USD Million)
        • 10.3.1.1 North America Genetic Testing Industry, by Country, 2023 – 2030 (USD Million)
    • 10.4 North America Genetic Testing Industry, by Technology Outlook, 2023 – 2030
      • 10.4.1 North America Genetic Testing Industry, by Technology Outlook, 2023 – 2030 (USD Million)
    • 10.5 North America Genetic Testing Industry, by Application Outlook, 2023 – 2030
      • 10.5.1 North America Genetic Testing Industry, by Application Outlook, 2023 – 2030 (USD Million)
    • 10.6 North America Genetic Testing Industry, by Product Outlook, 2023 – 2030
      • 10.6.1 North America Genetic Testing Industry, by Product Outlook, 2023 – 2030 (USD Million)
    • 10.7 North America Genetic Testing Industry, by Channel Outlook , 2023 – 2030
      • 10.7.1 North America Genetic Testing Industry, by Channel Outlook , 2023 – 2030 (USD Million)
    • 10.8 North America Genetic Testing Industry, by End-user Outlook , 2023 – 2030
      • 10.8.1 North America Genetic Testing Industry, by End-user Outlook , 2023 – 2030 (USD Million)
    • 10.9. Europe
      • 10.9.1 Europe Genetic Testing Industry, 2023 – 2030 (USD Million)
        • 10.9.1.1 Europe Genetic Testing Industry, by Country, 2023 – 2030 (USD Million)
    • 10.10 Europe Genetic Testing Industry, by Technology Outlook, 2023 – 2030
      • 10.10.1 Europe Genetic Testing Industry, by Technology Outlook, 2023 – 2030 (USD Million)
    • 10.11 Europe Genetic Testing Industry, by Application Outlook, 2023 – 2030
      • 10.11.1 Europe Genetic Testing Industry, by Application Outlook, 2023 – 2030 (USD Million)
    • 10.12 Europe Genetic Testing Industry, by Product Outlook, 2023 – 2030
      • 10.12.1 Europe Genetic Testing Industry, by Product Outlook, 2023 – 2030 (USD Million)
    • 10.13 Europe Genetic Testing Industry, by Channel Outlook , 2023 – 2030
      • 10.13.1 Europe Genetic Testing Industry, by Channel Outlook , 2023 – 2030 (USD Million)
    • 10.14 Europe Genetic Testing Industry, by End-user Outlook , 2023 – 2030
      • 10.14.1 Europe Genetic Testing Industry, by End-user Outlook , 2023 – 2030 (USD Million)
    • 10.15. Asia Pacific
      • 10.15.1 Asia Pacific Genetic Testing Industry, 2023 – 2030 (USD Million)
        • 10.15.1.1 Asia Pacific Genetic Testing Industry, by Country, 2023 – 2030 (USD Million)
    • 10.16 Asia Pacific Genetic Testing Industry, by Technology Outlook, 2023 – 2030
      • 10.16.1 Asia Pacific Genetic Testing Industry, by Technology Outlook, 2023 – 2030 (USD Million)
    • 10.17 Asia Pacific Genetic Testing Industry, by Application Outlook, 2023 – 2030
      • 10.17.1 Asia Pacific Genetic Testing Industry, by Application Outlook, 2023 – 2030 (USD Million)
    • 10.18 Asia Pacific Genetic Testing Industry, by Product Outlook, 2023 – 2030
      • 10.18.1 Asia Pacific Genetic Testing Industry, by Product Outlook, 2023 – 2030 (USD Million)
    • 10.19 Asia Pacific Genetic Testing Industry, by Channel Outlook , 2023 – 2030
      • 10.19.1 Asia Pacific Genetic Testing Industry, by Channel Outlook , 2023 – 2030 (USD Million)
    • 10.20 Asia Pacific Genetic Testing Industry, by End-user Outlook , 2023 – 2030
      • 10.20.1 Asia Pacific Genetic Testing Industry, by End-user Outlook , 2023 – 2030 (USD Million)
    • 10.21. Latin America
      • 10.21.1 Latin America Genetic Testing Industry, 2023 – 2030 (USD Million)
        • 10.21.1.1 Latin America Genetic Testing Industry, by Country, 2023 – 2030 (USD Million)
    • 10.22 Latin America Genetic Testing Industry, by Technology Outlook, 2023 – 2030
      • 10.22.1 Latin America Genetic Testing Industry, by Technology Outlook, 2023 – 2030 (USD Million)
    • 10.23 Latin America Genetic Testing Industry, by Application Outlook, 2023 – 2030
      • 10.23.1 Latin America Genetic Testing Industry, by Application Outlook, 2023 – 2030 (USD Million)
    • 10.24 Latin America Genetic Testing Industry, by Product Outlook, 2023 – 2030
      • 10.24.1 Latin America Genetic Testing Industry, by Product Outlook, 2023 – 2030 (USD Million)
    • 10.25 Latin America Genetic Testing Industry, by Channel Outlook , 2023 – 2030
      • 10.25.1 Latin America Genetic Testing Industry, by Channel Outlook , 2023 – 2030 (USD Million)
    • 10.26 Latin America Genetic Testing Industry, by End-user Outlook , 2023 – 2030
      • 10.26.1 Latin America Genetic Testing Industry, by End-user Outlook , 2023 – 2030 (USD Million)
    • 10.27. The Middle-East and Africa
      • 10.27.1 The Middle-East and Africa Genetic Testing Industry, 2023 – 2030 (USD Million)
        • 10.27.1.1 The Middle-East and Africa Genetic Testing Industry, by Country, 2023 – 2030 (USD Million)
    • 10.28 The Middle-East and Africa Genetic Testing Industry, by Technology Outlook, 2023 – 2030
      • 10.28.1 The Middle-East and Africa Genetic Testing Industry, by Technology Outlook, 2023 – 2030 (USD Million)
    • 10.29 The Middle-East and Africa Genetic Testing Industry, by Application Outlook, 2023 – 2030
      • 10.29.1 The Middle-East and Africa Genetic Testing Industry, by Application Outlook, 2023 – 2030 (USD Million)
    • 10.30 The Middle-East and Africa Genetic Testing Industry, by Product Outlook, 2023 – 2030
      • 10.30.1 The Middle-East and Africa Genetic Testing Industry, by Product Outlook, 2023 – 2030 (USD Million)
    • 10.31 The Middle-East and Africa Genetic Testing Industry, by Channel Outlook , 2023 – 2030
      • 10.31.1 The Middle-East and Africa Genetic Testing Industry, by Channel Outlook , 2023 – 2030 (USD Million)
    • 10.32 The Middle-East and Africa Genetic Testing Industry, by End-user Outlook , 2023 – 2030
      • 10.32.1 The Middle-East and Africa Genetic Testing Industry, by End-user Outlook , 2023 – 2030 (USD Million)
  • Chapter 11. Company Profiles
    • 11.1 24 genetics
      • 11.1.1 Overview
      • 11.1.2 Financials
      • 11.1.3 Product Portfolio
      • 11.1.4 Business Strategy
      • 11.1.5 Recent Developments
    • 11.2 Circle DNA
      • 11.2.1 Overview
      • 11.2.2 Financials
      • 11.2.3 Product Portfolio
      • 11.2.4 Business Strategy
      • 11.2.5 Recent Developments
    • 11.3 Tellmegen
      • 11.3.1 Overview
      • 11.3.2 Financials
      • 11.3.3 Product Portfolio
      • 11.3.4 Business Strategy
      • 11.3.5 Recent Developments
    • 11.4 23andme
      • 11.4.1 Overview
      • 11.4.2 Financials
      • 11.4.3 Product Portfolio
      • 11.4.4 Business Strategy
      • 11.4.5 Recent Developments
    • 11.5 AncestryDNA
      • 11.5.1 Overview
      • 11.5.2 Financials
      • 11.5.3 Product Portfolio
      • 11.5.4 Business Strategy
      • 11.5.5 Recent Developments
    • 11.6 MyDNA
      • 11.6.1 Overview
      • 11.6.2 Financials
      • 11.6.3 Product Portfolio
      • 11.6.4 Business Strategy
      • 11.6.5 Recent Developments
    • 11.7 Everly Well
      • 11.7.1 Overview
      • 11.7.2 Financials
      • 11.7.3 Product Portfolio
      • 11.7.4 Business Strategy
      • 11.7.5 Recent Developments
    • 11.8 Igenomix
      • 11.8.1 Overview
      • 11.8.2 Financials
      • 11.8.3 Product Portfolio
      • 11.8.4 Business Strategy
      • 11.8.5 Recent Developments
    • 11.9 VitaGen
      • 11.9.1 Overview
      • 11.9.2 Financials
      • 11.9.3 Product Portfolio
      • 11.9.4 Business Strategy
      • 11.9.5 Recent Developments
    • 11.10 Myriad Genetics Inc.
      • 11.10.1 Overview
      • 11.10.2 Financials
      • 11.10.3 Product Portfolio
      • 11.10.4 Business Strategy
      • 11.10.5 Recent Developments
    • 11.11 Mapmygenome
      • 11.11.1 Overview
      • 11.11.2 Financials
      • 11.11.3 Product Portfolio
      • 11.11.4 Business Strategy
      • 11.11.5 Recent Developments
    • 11.12 Helix OpCo LLC
      • 11.12.1 Overview
      • 11.12.2 Financials
      • 11.12.3 Product Portfolio
      • 11.12.4 Business Strategy
      • 11.12.5 Recent Developments
    • 11.13 MyHeritage Ltd.
      • 11.13.1 Overview
      • 11.13.2 Financials
      • 11.13.3 Product Portfolio
      • 11.13.4 Business Strategy
      • 11.13.5 Recent Developments
    • 11.14 Illumina Inc.
      • 11.14.1 Overview
      • 11.14.2 Financials
      • 11.14.3 Product Portfolio
      • 11.14.4 Business Strategy
      • 11.14.5 Recent Developments
    • 11.15 Color Genomics Inc.
      • 11.15.1 Overview
      • 11.15.2 Financials
      • 11.15.3 Product Portfolio
      • 11.15.4 Business Strategy
      • 11.15.5 Recent Developments
    • 11.16 Amgen Inc.
      • 11.16.1 Overview
      • 11.16.2 Financials
      • 11.16.3 Product Portfolio
      • 11.16.4 Business Strategy
      • 11.16.5 Recent Developments
    • 11.17 Beyond Nutrition Health
      • 11.17.1 Overview
      • 11.17.2 Financials
      • 11.17.3 Product Portfolio
      • 11.17.4 Business Strategy
      • 11.17.5 Recent Developments
    • 11.18 Wellness Services DMCC
      • 11.18.1 Overview
      • 11.18.2 Financials
      • 11.18.3 Product Portfolio
      • 11.18.4 Business Strategy
      • 11.18.5 Recent Developments
List Of Figures

Figures No 1 to 38

List Of Tables

tables No 1 to 127

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players

  • 24 genetics
  • Circle DNA
  • Tellmegen
  • 23andme
  • AncestryDNA
  • MyDNA
  • Everly Well
  • Igenomix
  • VitaGen
  • Myriad Genetics Inc.
  • Mapmygenome
  • Helix OpCo LLC
  • MyHeritage Ltd.
  • Illumina Inc.
  • Color Genomics Inc.
  • Amgen Inc.
  • Beyond Nutrition Health
  • Wellness Services DMCC
  • Others

FAQs

“North America” region will lead the global Genetic Testing market during the forecast period 2023 to 2030.

The key factors driving the market is increasing awareness of newborn screening and the rising prevalence rate of genetic disorders, increasing demand for personalized medicine and increasing popularity of direct-to-consumer genetic testing.

The key players operating in the Genetic Testing market are 24 genetics, Circle DNA, Tellmegen, 23andme, AncestryDNA, MyDNA, Everly Well, Igenomix, VitaGen, Myriad Genetics Inc., Mapmygenome, Helix OpCo LLC, MyHeritage Ltd., Illumina Inc., Color Genomics Inc., Amgen Inc., Beyond Nutrition Health, Wellness Services DMCC.

The global Genetic Testing market is expanding growth with a CAGR of approximately 22% during the forecast period (2023 to 2030).

The global Genetic Testing market size was valued at USD 9,053.72 Million in 2021 and it is projected to reach around USD 36,420.49 Million by 2030.

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