Massive Growth of Genetic Testing Services Market by 2030 with Top Key Players - F. Hoffmann-La Roche Ag, 23andme Holding Co., Abbott Laboratories and Thermo Fisher Scientific; Inc.

 | Source: Growth Plus Reports Growth Plus Reports

Pune, Nov. 09, 2022 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global genetic testing services market is expected to clock US$ 21.39 billion by 2030, owing to rising awareness regarding the early detection of genetic diseases and the adoption of advanced technologies. The rapidly increasing adoption of digitalization due to growing urbanization is a major driver for the Genetic Testing Services market. This exclusive information is published by Growth Plus Reports in its report titled “Genetic Testing Services Market – Global Outlook & Forecast 2022-2030

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Market Drivers

The rising global prevalence of chronic and genetic diseases is the primary driver of the global genetic testing services market. Additionally, the demand for genetic testing services is rising due to the expanding use of genetic testing in genomics. Growing acceptance and knowledge of precision medicine, which enables medical professionals to provide personalized diagnoses and treatments, significantly expands the global market growth. Furthermore, genetic testing services are growing due to increased research into innovative methods for disease detection and treatment. The use of genetic testing to assess the quality of breeding stock in agriculture is expanding, accelerating market expansion. Besides that, the cost of gene sequencing is decreasing due to the availability of advanced technology, and use of genetic testing in forensics is increasing, thus boosting market growth.

The global genetic testing services market has been analyzed from four perspectives – type, disease, end user, and region.

Excerpts from ‘By Type Segmentation’

Based on types, the global genetic testing services market is divided into

  • Prenatal Testing
  • Predictive Testing
  • Carrier Testing
  • New-Born Screening
  • Others.

Predictive testing dominates the global genetic testing services market with the largest market share in 2021. The significant market share of predictive testing can be ascribed to growing public awareness of genetic testing and early detection of chronic diseases. Additionally, predictive testing offers data on inherited conditions like cancer. According to the National Cancer Institute reports that there are over 50 hereditary cancer syndromes, thus increasing the demand for predictive testing.

Excerpts from ‘By Disease Segmentation’

Based on disease, the global genetic testing services market is categorized into

  • Cardiovascular Disease
  • Cancer
  • Metabolic Disease.

The cancer diseases segment will hold the largest global market share. The high percentage of the cancer disease segment can be due to the rising prevalence of cancer worldwide. Additionally, the increase in research and development to create new, creative tests for cancer diagnosis is fueling the segment expansion. The segment growth is also anticipated to be boosted by the expansion of genomics research.

Excerpts from ‘By Region Segmentation’

Based on region, the global genetic testing services market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global genetic testing services market in 2021, followed by Europe. The Asia Pacific has a fast CAGR in the forecasting period. The large market share held by North America can be attributed to the advanced healthcare system and high level of public knowledge about genetic testing. Additionally, the expansion in the region is being fueled by the increase in investment in the field of genomics as well as the accessibility of primers, test chemicals, and equipment. The presence of a major player in the region and an increase in overall healthcare spending are both anticipated to fuel regional growth.

Excerpts from ‘Competitive Landscape’

Some prominent players operating in the global genetic testing services market are

  • F. Hoffmann-La Roche Ag
  • 23andme Holding Co.
  • Abbott Laboratories
  • Thermo Fisher Scientific; Inc.
  • Illumina; Inc.
  • Bio-Helix Co. Ltd.
  • Bio-Rad Laboratories
  • Ge Healthcare
  • Agilent Technologies; Inc.
  • Ambry Genetics
  • Bgi Global
  • Biomérieux Sa
  • Blueprint Genetics Oy
  • Danaher Corporation
  • Eurofins Scientific Se
  • Csl Limited Amongst Others.

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Table of Content
Table of Content

  1. INTRODUCTION
    1. Market Ecosystem
    2. Timeline Under Consideration
      1. Historical Years – 2020
      2. Base Year – 2021
      3. Forecasted Years – 2022 to 2030
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2021)
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL GENETIC TESTING SERVICES MARKET - ANALYSIS & FORECAST, BY TYPE
    1. Prenatal Testing
    2. Predictive Testing
    3. Carrier Testing
    4. New-born Screening
    5. Others
  6. GLOBAL GENETIC TESTING SERVICES MARKET - ANALYSIS & FORECAST, BY DISEASE
    1. Cardiovascular Disease
    2. Cancer Disease
    3. Metabolic Disease
    4. Others
  7. GLOBAL GENETIC TESTING SERVICES MARKET - ANALYSIS & FORECAST, BY END-USER
    1. Hospitals & Clinics
    2. Diagnostic Centers
    3. Academic Institutes & Research Centers
    4. Others

TOC Continue…

VALUE PROPOSITIONS RELATED TO THE REPORT:

  • Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
  • Comprehensive quantitative and qualitative insights at segment and sub-segment level
  • Covid 19 impact trends and perspective
  • Granular insights at global/regional/country level
  • Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
  • Blanket coverage on competitive landscape
  • Winning imperatives
  • Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

  • Distributor Landscape Assessment
  • Pricing Intelligence
  • Customer Base Assessment
  • Investment & Initiatives Analysis
  • 'Business Profile' of Key Players

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