New York, NY, April 13, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Genetic Analysis Market Share, Size, Trends, Industry Analysis Report, By Type (Predictive Genetic Testing, Carrier Testing, Prenatal and Newborn Testing, Disease Diagnostic Testing, Pharmacogenomic Testing, and Others); By Application; By Technology; By End-Use; By Region; Segment Forecast, 2023-2032” in its research database.
“According to the latest research analysis, the global genetic analysis market size/share is anticipated to be valued at approximately USD 19.74 Billion in 2022 and is projected to hit a revenue of around USD 45.10 Billion by 2032, at a CAGR of around 8.64% between 2023 and 2032.”
What is Genetic Analysis? How Big is Genetic Analysis Market Size & Share?
- Overview
The genetic analysis involves the study and research of genetics and molecular biology across multiple fields of science. This process encompasses several applications that are integral parts of gene research. The market is expected to grow significantly in the coming years. The increasing prevalence of genetic diseases, technological advancements, and awareness about personalized medicine drive the genetic analysis market growth.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
- Abbott Laboratories
- Bio-Rad Laboratories
- Danaher Corporation
- Roche Ltd.
- Illumina
- Myriad Genetics
- Thermo Fisher Scientific
- CSL Ltd.
- Eurofins Scientific
- Siemens Healthiniers
- PerkinElmer
- Sysmex Corporation
- Hologic
- QIAGEN
- Agilent Technologies
- Baylor Genetics
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Market Dynamics
Prominent Drivers of the market
- Developing countries witness growth: Developing countries such as India, China, Brazil, and Indonesia have seen a significant increase in healthcare and infrastructure investments leading to prioritizing cost-effectiveness and scalability to meet the growing demand from an expanding patient pool.
- Rise in direct-to-customer: Direct-to-consumer genetic testing is expected to boost market growth, allowing individuals to better understand their genetic information without involving physicians. This genetic analysis market trend is further aided by increasing awareness of the link between genetics and diseases, improving patient health outcomes.
- Demand for personalized medicine: The growing demand for personalized medicine and the adoption of genetic testing for early diagnosis and disease detection is also expected to drive market growth, especially in developed countries.
- Increased government initiatives: By increasing government regulations and awareness programs promoting the use of genetic tests, the market is expected to grow. Continuous product design and quality innovations, coupled with efforts to improve accessibility for all patients, will likely unlock new growth opportunities for genetic analysis market key players.
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Top Report Findings
- Key Drivers: As developing countries ramp up their investments in healthcare and infrastructure, patient outcomes and access to care are rising.
- Key Segmentation: The market is segmented into Type, Application, By Technology, By End-use, By Region.
- Leading Region: In 2022, the North America region led the global market.
Top Trends Influencing the Market
- Invitae launches new testing packages: In a breakthrough, Invitae, a leading medical genetics company, has launched a new testing package for NDDs in children that provides timely genetic answers. With this launch, Invitae is setting a new standard for genetic testing in medical genetics.
- Partnerships are giving rise to Innovations: In a groundbreaking move, Genetic Analysis has partnered with Microbiome Research to unveil a new test service portfolio based on the GA-map Dysbiosis Test. With this strategic partnership, Genetic Analysis is reinforcing its position as a leader in the industry and solidifying its commitment to advancing healthcare through innovation.
- Increasing investments in research and development: This aims to identify the underlying causes of genetic diseases, provide early diagnoses, and develop targeted therapies, presenting significant growth in the genetic analysis market sales.
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Segmental Analysis
- Prenatal and newborn testing segment secured the lion's market share in 2022
The prenatal and newborn testing segment held the largest global genetic analysis market share in 2022 and is projected to maintain its dominance throughout the forecast period. The segment's growth is fueled by the rising prevalence of genetic disorders and the increasing demand for advanced prenatal testing methods, which have contributed to the adoption of innovative genetic testing technologies.
- Cancer segment is poised to experience a meteoric rise during the forecast period
The cancer segment is set to experience the swiftest growth during the forecast period, driven by the ability of genetic testing to detect the risk of several types of cancer. These tests allow for the examination of inherited variants and mutations in DNA that may cause the abnormal growth of cells, leading to tumors or cancer. As a result, genetic testing has become an essential tool in the early detection and prevention of cancer.
- Next-generation sequencing technology took center stage in 2022
Next-generation sequencing technology secured the largest market share in 2022, reflecting its increasing adoption in clinical and research applications. The technology provides high-throughput sequencing of DNA and RNA, allowing for more comprehensive genetic analysis than traditional methods. Its versatility and accuracy have made it a crucial component of gene testing, driving the genetic analysis market segmentation growth.
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Genetic Analysis Market: Report Scope & Coverage
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 45.10 Billion |
| Market size value in 2023 | USD 21.39 Billion |
| Expected CAGR Growth | 8.64% from 2023– 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Abbott Laboratories, Bio-Rad Laboratories Inc., Danaher Corporation, F. HOFFMAN-La Roche Ltd., Illumina Inc., Myriad Genetics Inc., Thermo Fisher Scientific Inc., CSL Ltd., Eurofins Scientific, Siemens Healthinier, PerkinElmer Inc., Sysmex Corporation, Hologic Inc., QIAGEN, Agilent Technologies Inc., and Baylor Genetics. |
| Segments Covered | By Type, By Application, By Technology, By End-Use, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
North America: The genetic analysis market demand in North America region holds a significant share due to the continuous demand for personalized genetic testing services and the increasing prevalence of chronic and genetic disorders. The presence of well-developed healthcare infrastructure and higher healthcare spending compared to other nations, particularly in the United States, are key factors driving the demand for genetic analysis products in the region.
Europe: Europe is expected to boom due to several factors. These include increasing R&D initiatives conducted by countries such as France, Sweden, the UK, and Germany, a surge in consumer spending on healthcare and well-being, and the high concentration of key market players focused on innovating advanced genetic testing products.
Browse the Detail Report “Genetic Analysis Market Share, Size, Trends, Industry Analysis Report, By Type (Predictive Genetic Testing, Carrier Testing, Prenatal and Newborn Testing, Disease Diagnostic Testing, Pharmacogenomic Testing, and Others); By Application; By Technology; By End-Use; By Region; Segment Forecast, 2023-2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/genetic-analysis-market
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Recent Developments
- NHS England launched a country-based genetic testing service in October 2022 to proactively assist newborns and babies. The service is expected to benefit more than 1,000 children and babies in intensive care annually.
- 1health.io Inc., a top diagnostic software company, announced the expansion of its clinical and direct-to-customer testing services in July 2022, partnering with Apollo Health Group. Apollo Health Group has streamlined its complex genetic testing workflows and eliminated paper-based processes that are susceptible to errors.
Frequently Asked Questions:
- What is genetic analysis?
- What are the key drivers of the market?
- Which region is expected to dominate the market?
- What are the recent developments that took place in the market?
- What factors are responsible for the growth of the market?
Polaris Market Research has segmented the Genetic Analysis market report based on type, application, technology, end-use, and region:
By Type
- Predictive Genetic Testing
- Carrier Testing
- Prenatal and Newborn Testing
- Disease Diagnostic Testing
- Pharmacogenomic Testing
- Others
By Application
- Cancer
- Genetic Diseases
- Cardiovascular Diseases
- Rare Diseases
- Infectious Diseases
- Others
By Technology
- Next-Generation Sequencing
- Real-Time PCR System
- Others
By End-use
- Hospitals
- Research & Development Laboratories
- Diagnostic Centers
- Others
By Region
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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