
Genetic Testing Market Size Poised for USD 40.9 Billion Milestone by 2032 At a CAGR of 10.2%

Genetic Testing 2025
Rise in prevalence of chronic diseases such as genetic disorders, cancer, and others, technological advancement in the healthcare sector drive the growth.
PORTLAND, OR, UNITED STATES, January 14, 2025 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Genetic Testing Market by Type (Predictive & Pre-Symptomatic Testing, Carrier Testing, Prenatal & Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, and Others), Technology (Cytogenetic Testing, Biochemical Testing, and Molecular Testing), and Application (Cancer Diagnosis, Genetic Disease Diagnosis, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global genetic testing market was valued for $15.5 Billion in 2022 and is estimated to reach $40.9 Billion by 2032, exhibiting a CAGR of 10.2% from 2023 to 2032.
๐๐ก๐๐ญ ๐๐ซ๐ ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ ๐๐จ๐ซ ๐๐๐ง๐๐ญ๐ข๐ ๐๐๐ฌ๐ญ๐ข๐ง๐ ?
Rise in prevalence of genetic diseases such as down syndrome sickle cell disease, phenylketonuria and others and increase in number of adoptions of genetic testing for diagnosis of cancer is anticipated to boost the growth of the market. However, high cost of genetic tests is anticipated to hinder the growth of the market. On the contrary, high presence of market players who manufacture genetic testing devices and rise in awareness among the people regarding use of genetic testing are expected to witness growth during the forecast period.
๐๐จ๐ฉ ๐๐๐ง๐๐ญ๐ข๐ ๐๐๐ฌ๐ญ๐ข๐ง๐ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ
โข Abbott Laboratories
โข Bio-Rad Laboratories, Inc.
โข Myriad Genetics, Inc.
โข Danaher Corporation
โข F. Hoffmann-La Roche Ltd.
โข Illumina, Inc.
โข Thermo Fisher Scientific, Inc.
โข Qiagen N.V
โข CSL Limited
โข Luminex Corporation
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐ซ๐๐ฉ๐ก๐ฌ ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/request-sample/5241
๐๐๐ง๐๐ญ๐ข๐ ๐๐๐ฌ๐ญ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ข๐ณ๐ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง: โ
Based on type, the prenatal and newborn testing segment held the highest market share in 2022, accounting for more than one-third of the global genetic testing market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the high presence of market players who manufacture genetic testing devices. However, the pharmacogenomic testing segment is projected to attain significant growth with a CAGR of 10.9% from 2023 to 2032, owing to the increase in awareness among the population regarding genetic testing.
Based on technology, the molecular testing segment held the highest market share in 2022, accounting for more than half of the global genetic testing market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to high adoption of molecular testing for genetic disease diagnosis. However, the cytogenetic testing segment is projected to attain a significant CAGR of 10.8% from 2023 to 2032.
Based on application, the genetic disease diagnosis segment held the highest market share in 2022, accounting for more than two-fifths of the global genetic testing market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to increase in prevalence of genetic testing and rise in adoption of genetic tests for diagnosis of genetic testing. However, the cancer diagnosis segment is projected to attain a significant CAGR of 10.6% from 2023 to 2032, owing to rise in awareness among the genetic tests for cancer diagnosis.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global genetic testing market revenue. This is attributed to high presence of genetic testing device manufacturers in North America and rise in prevalence of chronic disease such as genetic testing, cancer and others. However, the Asia-Pacific region is expected to witness the fastest CAGR of 10.9% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to rise in population suffering from cancer and increase in awareness regarding genetic testing.
๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/purchase-enquiry/5241
๐๐ก๐ข๐ฌ ๐๐จ๐ฆ๐ฉ๐ซ๐๐ก๐๐ง๐ฌ๐ข๐ฏ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ฅ๐ฅ ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐:
โข Enhance your strategic decision making
โข Assist with your research, presentations and business plans
โข Show which emerging market opportunities to focus on
โข Increase your industry knowledge
โข Keep you up-to-date with crucial market developments
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โข Build your technical insight
โข Illustrate trends to exploit
โข Strengthen your analysis of competitors
โข Provide risk analysis, helping you avoid the pitfalls other companies could make
โข Ultimately, help you to maximize profitability for your company.
๐๐ฎ๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง ๐๐ซ๐จ๐ฏ๐ข๐๐๐ฌ ๐๐จ๐ฎ ๐๐ง๐ฌ๐ฐ๐๐ซ ๐ญ๐จ ๐๐๐ฅ๐จ๐ฐ ๐๐๐ง๐ญ๐ข๐จ๐ง๐๐ ๐๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง:
โข Which are the driving factors responsible for the growth of market?
โข Which are the roadblock factors of this market?
โข What are the new opportunities, by which market will grow in coming years?
โข What are the trends of this market?
โข Which are main factors responsible for new product launch?
โข How big is the global & regional market in terms of revenue, sales and production?
โข How far will the market grow in forecast period in terms of revenue, sales and production?
โข Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
โข How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
โข Which region has more opportunities?
๐๐๐ ๐ข๐จ๐ง ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:-
โข North America
(U.S., Canada, Mexico)
โข Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
โข Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
โข LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐๐ญ๐๐ข๐ฅ๐ฌ:
David Correa
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
help@alliedmarketresearch.com
๐๐๐จ๐ฎ๐ญ ๐๐ฌ
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of โMarket Research Reportsโ and โBusiness Intelligence Solutions.โ AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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Allied Market Research
+1 800-792-5285
email us here
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