Genetic Testing Market size to grow by USD 7,103.8 million from 2022 to 2027|The growing adoption of direct-to-consumer genetic tests in early disease diagnosis is a major trend- Technavio

NEW YORK, Aug. 3, 2023 /PRNewswire/ -- The genetic testing market is estimated to grow at a CAGR of 12.78% between 2022 and 2027. The market size is forecast to increase by USD 7,103.8 million, according to Technavio. Discover some insights on market size, historic period (2017 to 2021), and Forecast (2023 to 2027) before buying the full report -Request a sample report

Genetic Testing Market – Company Analysis
Company Landscape - The global genetic testing market is fragmented, with the presence of several global as well as regional companies. A few prominent companies that offer genetic testing in the market are Abbott Laboratories, Agilent Technologies Inc., ARUP Laboratories, Asper Biogene, and ATS GENETECH PVT. LTD., Bio Rad Laboratories Inc., bioMerieux SA, CENTOGENE NV, Color Health Inc, Danaher Corp., F. Hoffmann La Roche Ltd., Genea Ltd., Illumina Inc., Invitae Corp., MedGenome Labs Ltd., Myriad Genetics Inc., QIAGEN NV, Quest Diagnostics Inc., Siemens Healthineers AG, and The Cooper Companies Inc. and others.

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• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Company Offerings -

• Abbott Laboratories - The company offers genetic testing such as Vysis Fish technology which can test metaphase chromosomes from cultured samples and interphase cells from specimens that cannot be cultured.
• Agilent Technologies Inc. - The company offers preimplantation genetic testing solutions for eliminating the transmission of X-linked conditions and cystic fibrosis transmembrane conductance regulator mutations.
• Bio Rad Laboratories Inc - The company offers genetic testing such as PV92 PCR informatics kit.
• For details on the company and its offerings – Request a sample report

Genetic Testing Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on Product (Equipment and Consumables), Technology (Molecular testing, Cytogenetic testing, and Biochemical testing), and Geography (North America, Europe, Asia, and Rest of World (ROW)). 

• The market share growth by the equipment segment will be significant during the forecast period. Genetic testing equipment includes next-generation analyzers, PCR systems, and sequencing machines. Many companies offer advanced products such as fully automated analyzers and real-time PCR (RT-PCR) systems. For example, companies are updating their product portfolios with advanced automated analyzers. In addition, the use of automated genetic testing equipment in clinical diagnostic laboratories offers several benefits, such as reduced workload, increased accuracy, and improved efficiency for physicians. clinician.  Hence, these factors are expected to drive segment growth during the forecast period.

Geography Overview
By geography, the global genetic testing market is segmented into North America, Europe, Asia, and the Rest of the World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global genetic testing market.

• North America is estimated to contribute 39% to the growth of the global market during the forecast period. The growth in the region is due to several factors, including growing concern about early diagnosis of the disease, a notable increase in commercial approvals for advanced genetic testing products, and the growing adoption of pharmacogenomic testing. In addition, the presence of major companies in the market and their continuous efforts to provide innovative products are helping the market to grow.  Thus, the above-mentioned factors are expected to drive market growth in the region during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

Genetic Testing Market – Market Dynamics

Key Driver

The rising approval of advanced genetic testing products is a key factor driving market growth. Many companies offer innovative products for human health management and whole-genome sequencing applications. Furthermore, there is an increasing trend to offer technologically advanced products, including virus and bacteria panels, that simplify and speed up genetic testing processes. These factors contribute to the growing popularity of genetic testing in various commercial applications. Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

The growing adoption of direct-to-consumer genetic tests in early disease diagnosis is a major trend in the market. The growing demand for timely health treatments and the adoption of preventive measures to reduce disease risks are driving the popularity of direct-to-consumer genetic testing. These tests provide valuable information about disease risk, allowing individuals to monitor their health in consultation with a physician. Furthermore, the competitive prices of these tests have further increased consumer preference for them. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

The lack of trained genetic professionals is one of the significant challenges restricting market growth. The accuracy and consistency of genetic testing are heavily influenced by the expertise and skills of the technicians performing the tests. Substandard laboratory practices and inadequate skills can lead to false test results, which can have serious consequences for the health of individuals who undergo such testing. Hence, these factors are expected to restrict market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Genetic Testing Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the genetic testing market between 2023 and 2027.
• Precise estimation of the size of the genetic testing market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the genetic testing market across North America, Europe, Asia, and the Rest of the World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of genetic testing market companies

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on company Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of companies included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global genetic testing market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global genetic testing market 2017 - 2021 ($ million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.3 Technology Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Technology Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Equipment - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Equipment - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Equipment - Year-over-year growth 2022-2027 (%)

• 6.4 Consumables - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Consumables - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Consumables - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Consumables - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Consumables - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product 
• Exhibit 42: Market opportunity by Product ($ million)
• Exhibit 43: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Technology

• 7.1 Market segments
• Exhibit 44: Chart on Technology - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Technology - Market share 2022-2027 (%)

• 7.2 Comparison by Technology 
• Exhibit 46: Chart on Comparison by Technology
• Exhibit 47: Data Table on Comparison by Technology

• 7.3 Molecular testing - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Molecular testing - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Molecular testing - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Molecular testing - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Molecular testing - Year-over-year growth 2022-2027 (%)

• 7.4 Cytogenetic testing - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Cytogenetic testing - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Cytogenetic testing - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Cytogenetic testing - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Cytogenetic testing - Year-over-year growth 2022-2027 (%)

• 7.5 Biochemical testing - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Biochemical testing - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Biochemical testing - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Biochemical testing - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Biochemical testing - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Technology 
• Exhibit 60: Market opportunity by Technology ($ million)
• Exhibit 61: Data Table on Market opportunity by Technology ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 Asia - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Asia - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Asia - Year-over-year growth 2022-2027 (%)

• 9.6 Rest of World (ROW) - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

• 9.7 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.8 Germany - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027 
• Exhibit 91: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027 
• Exhibit 99: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Company Landscape

• 11.1 Overview

• 11.2 Company landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Company Analysis

• 12.1 Companies covered
• Exhibit 109: Companies covered

• companies 
• Exhibit 110: Matrix on company position and classification

• 12.3 Abbott Laboratories
• Exhibit 111: Abbott Laboratories - Overview
• Exhibit 112: Abbott Laboratories - Business segments
• Exhibit 113: Abbott Laboratories - Key news
• Exhibit 114: Abbott Laboratories - Key offerings
• Exhibit 115: Abbott Laboratories - Segment focus

• 12.4 Agilent Technologies Inc. 
• Exhibit 116: Agilent Technologies Inc. - Overview
• Exhibit 117: Agilent Technologies Inc. - Business segments
• Exhibit 118: Agilent Technologies Inc. - Key offerings
• Exhibit 119: Agilent Technologies Inc. - Segment focus

• 12.5 ATS GENETECH PVT. LTD.
• Exhibit 120: ATS GENETECH PVT. LTD. - Overview
• Exhibit 121: ATS GENETECH PVT. LTD. - Product / Service
• Exhibit 122: ATS GENETECH PVT. LTD. - Key offerings

• 12.6 Bio Rad Laboratories Inc. 
• Exhibit 123: Bio Rad Laboratories Inc. - Overview
• Exhibit 124: Bio Rad Laboratories Inc. - Business segments
• Exhibit 125: Bio Rad Laboratories Inc. - Key news
• Exhibit 126: Bio Rad Laboratories Inc. - Key offerings
• Exhibit 127: Bio Rad Laboratories Inc. - Segment focus

• 12.7 bioMerieux SA
• Exhibit 128: bioMerieux SA - Overview
• Exhibit 129: bioMerieux SA - Product / Service
• Exhibit 130: bioMerieux SA - Key offerings

• 12.8 Color Health Inc
• Exhibit 131: Color Health Inc - Overview
• Exhibit 132: Color Health Inc - Product / Service
• Exhibit 133: Color Health Inc - Key offerings

• 12.9 F. Hoffmann La Roche Ltd. 
• Exhibit 134: F. Hoffmann La Roche Ltd. - Overview
• Exhibit 135: F. Hoffmann La Roche Ltd. - Business segments
• Exhibit 136: F. Hoffmann La Roche Ltd. - Key news
• Exhibit 137: F. Hoffmann La Roche Ltd. - Key offerings
• Exhibit 138: F. Hoffmann La Roche Ltd. - Segment focus

• 12.10 Genea Ltd.
• Exhibit 139: Genea Ltd. - Overview
• Exhibit 140: Genea Ltd. - Product / Service
• Exhibit 141: Genea Ltd. - Key offerings

• 12.11 Illumina Inc.
• Exhibit 142: Illumina Inc. - Overview
• Exhibit 143: Illumina Inc. - Business segments
• Exhibit 144: Illumina Inc. - Key news
• Exhibit 145: Illumina Inc. - Key offerings
• Exhibit 146: Illumina Inc. - Segment focus

• 12.12 Invitae Corp.
• Exhibit 147: Invitae Corp. - Overview
• Exhibit 148: Invitae Corp. - Product / Service
• Exhibit 149: Invitae Corp. - Key offerings

• 12.13 Myriad Genetics Inc.
• Exhibit 150: Myriad Genetics Inc. - Overview
• Exhibit 151: Myriad Genetics Inc. - Product / Service
• Exhibit 152: Myriad Genetics Inc. - Key offerings

• 12.14 QIAGEN NV
• Exhibit 153: QIAGEN NV - Overview
• Exhibit 154: QIAGEN NV - Product / Service
• Exhibit 155: QIAGEN NV - Key news
• Exhibit 156: QIAGEN NV - Key offerings

• 12.15 Quest Diagnostics Inc. 
• Exhibit 157: Quest Diagnostics Inc. - Overview
• Exhibit 158: Quest Diagnostics Inc. - Business segments
• Exhibit 159: Quest Diagnostics Inc. - Key offerings
• Exhibit 160: Quest Diagnostics Inc. - Segment focus

• 12.16 Siemens Healthineers AG 
• Exhibit 161: Siemens Healthineers AG - Overview
• Exhibit 162: Siemens Healthineers AG - Business segments
• Exhibit 163: Siemens Healthineers AG - Key news
• Exhibit 164: Siemens Healthineers AG - Key offerings
• Exhibit 165: Siemens Healthineers AG - Segment focus

• 12.17 The Cooper Companies Inc. 
• Exhibit 166: The Cooper Companies Inc. - Overview
• Exhibit 167: The Cooper Companies Inc. - Business segments
• Exhibit 168: The Cooper Companies Inc. - Key offerings
• Exhibit 169: The Cooper Companies Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 170: Inclusions checklist
• Exhibit 171: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 172: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 173: Research methodology
• Exhibit 174: Validation techniques employed for market sizing
• Exhibit 175: Information sources

• 13.5 List of abbreviations
• Exhibit 176: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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