Genetic Testing Market Size, Share & Trends Analysis Report By Technology (NGS, PCR-based Testing), By Application, By Product, By Channel (Online, Offline), By End-user, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global genetic testing market size was valued at USD 7,421.08 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 22.0% from 2023 to 2030. Factors such as increasing awareness of newborn screening and the rising prevalence rate of genetic disorders are directly impacting the market growth. For instance, according to the American Association for Clinical Chemistry, in the U.S., newborn screening programs assess children for more than 60 diseases. In the U.S., Recommended Uniform Screening Panel (RUSP) consists of a list of disorders that are recommended by the Department of Health and Human Services, mandating screening of certain genetic diseases, based on previously collected disease prevalence and incidence data.

Pharmacogenomics testing is becoming an essential technique for assisting clinicians in selecting medications and prescribing an optimal dose for patients. Various studies have been published by the Association for Molecular Pathology (AMP) Pharmacogenomics (PGx) on the recommendation of including clinical pharmacogenomics assay to establish standardization across labs. In August 2022, the association published the design and validation recommendation for clinical NUDT15 and TPMT genotyping assays. The guidelines for TPMT and NUDT15 genotyping offer alleles’ minimum set for laboratories to detect patients for the probability of thiopurine toxicity.

The COVID-19 pandemic had a devastating impact on society, the public healthcare system, and economics across the globe. However, genetic testing is estimated to witness a moderately positive impact on the growth rate. For instance, numerous researchers employed genotoxic tests to assess the effects of drugs against the COVID-19 virus. In September 2020, a team of researchers evaluated the impact of Chloroquine (CQ) and Hydroxychloroquine (HCQ) as prophylactic drugs against the virus. Such studies using genetic toxicology tests as a tool of assessment are anticipated to support stable growth during the post-COVID-19 period.

However, the cost of genetic testing is likely to slow down the growth of the market in developing countries. The average cost of genetic testing ranges from under USD 100 to over USD 2,000, depending on the complexity and nature of the test. The cost accelerates with the number of testing or requires samples from multiple family members to draw a meaningful test result. The results could take weeks to receive. In some cases, health insurance plans cover the genetic testing cost, when it is recommended by professionals. However, health insurance providers vary greatly in their policies and coverage.

Technology Insights

The next-generation sequencing segment is anticipated to witness the fastest growth with a CAGR of 23.03% from 2023 to 2030 period. The growth is attributed to an increase in genome mapping programs, an increase in healthcare expenditure, technological advancements, and a rise in applications of next-generation sequencing. DNA sequencing technologies are being increasingly used for the identification and characterization of different cancer types and several genetic disorders. Genetic testing or profiling with the implementation of tumor DNA sequencing identifies unique DNA alterations. The knowledge of genetic alterations further helps in the determination of specifically targeted treatment plans. Therefore, the rise in the incidence of cancer and genetic disorders is driving the demand for genetic testing in clinical as well as research settings.

Array technology is anticipated to grow at a considerable pace in the genetic testing industry. This is due to the increased prevalence of cancer, resulting in a rising adoption rate of DNA-based array technology in genetic disease diagnosis and personalized medicine. Array technology is a laboratory tool, which is used to study the expression of various genes at once. It entails employing thousands of gene sequences on a gene chip. This technique is extensively used for early-stage cancer detection, gene expression, and drug discovery.

Application Insights

The health and wellness-predisposition/risk/tendency segment captured the largest share of 47.64% in the global market in 2022. It is expected to maintain dominance with the fastest growth rate during the forecast period. The testing of predictive genetics and consumer/wellness genomics are high in demand, owing to the advancing trends of healthy lifestyles and awareness campaigns in the healthcare sector.

Genetic testing can assist in assessing upcoming risks of disease and offer information and statistics about a child's genetic makeup. Moreover, testing is valuable for people who have a family history of disorders. However, challenges such as the equipment expense for genomic research, along with the complexity of predictive genetic testing and consumer/wellness genomics, could limit the genetic testing industry's growth during the forecast period.

The genetic disease carrier status segment is also projected to showcase significant growth in the market. The test determines the likelihood of ancestral DNA matching the entire known genomic information to the greatest extent possible. Since genetics is a dynamic and ever-evolving field, more people are undergoing these tests across the globe. Therefore, it will increase the demand for carrier disease genetic testing and further boost the market growth.

Product Insights

In 2022, the consumables segment held 60.67% of the global genetic testing industry. Various players are involved in the supply and sales of consumables and offer a wide range of products in reagents and accessories. The consumables for genetic testing promise a high growth rate in the future due to continuous and repetitive usage during the process. Many competitors in the testing consumables market are focusing on organic and inorganic growth strategies to increase their existing product portfolio and reinforce and expand their geographic presence.

Similarly, the service segment promises to register significant growth during the forecast period. The increasing strategic initiatives by Contract Research Organizations (CROs) through investment in this segment continue to propel the market growth. For instance, in January 2022, Inotiv Inc. scaled up its toxicology research with the acquisition of Integrated Laboratory System (ILS) for USD 56 million. ILS is expected to provide additional capacity along with growth opportunities for Inotiv and the expansion of in-vivo and in-vitro toxicology services. The growth of the service segment is also propelled by the expanding range of services in skin and genetic testing.

Channel Insights

The online channel is projected to generate the fastest growth in the market with a CAGR of 24.06%. The direct-to-consumer marketing strategy is majorly driven by an increase in research funding in the molecular biology field, growing direct-to-consumer testing, and increasing acceptance and awareness of personalized medicine. Direct-to-customer companies provide tests to customers through over-the-counter and online channels, which makes tests easily accessible for customers. In 2020, online channels accounted for 77.8% of the direct-to-consumer market globally, while OTC channels accounted for 22.2%. Online channels are anticipated to show significant growth till 2030, amounting to 80% of the overall genetic testing industry share.

The offline channel segment captured the majority of the market share in 2022. Plenty of new technologies have been developed for molecular genetic testing, enabling the testing industry to expand at a rapid pace. It also continues to drive a considerable number of private diagnostic laboratories providing a wide range of solutions in genetic testing. A new momentum trend in the offering of molecular-based testing services includes buccal swab collection kits and saliva being offered for over-the-counter sales by pharmacies.

End-user Insights

The hospitals and clinics segment held the largest share of the market revenue in 2022 with 46.06%. This is primarily due to the mandatory newborn screening for genetic disorders and the rising prevalence of cancer in various regions. In the U.S., approximately 98% of women give birth in hospitals. An increase in the capacity of hospitals and clinics is anticipated to boost the demand for testing. For instance, the government of Australia announced USD 70.12 billion (AUD 104.1 billion) budget for 2022-2023 on healthcare, which is up 5.7% from the last year. It allocated USD 26.27 million to support newborn screening programs in the country.

The adoption of recent trends, such as telehealth and in-house hospital services, is likely to support market growth. In December 2021, a U.S.-based healthcare company, Intermountain, increased telehealth visits to over 73,000 a month from 7,000 in March 2020. The trend was adopted across 225 clinics, 25 hospitals, and multiple partner hospitals.

The diagnostic laboratories segment is projected to witness the fastest growth rate owing to increasing partnerships and collaboration of diagnostic laboratories with genetic testing companies. For instance, Thermo Fisher Scientific enables laboratories to perform genetic research by offering technologies, such as NGS and quantitative PCR.

Regional Insights

North America dominated the global market in 2022. This can be attributed to the rising demand for diagnostics due to the increased incidences of chronic illnesses and the availability of technologically advanced diagnostic techniques. In addition, the increasing incidence of infectious diseases in the region, such as COVID-19, tuberculosis, HIV, and influenza, is expected to boost the demand for detection & treatment. Furthermore, the presence of well-established healthcare infrastructure and the availability of government funding for research are among the factors anticipated to augment market growth in this region.

In July 2020, the National Institutes of Health (NIH) invested USD 248.7 million in the development of new technologies to address challenges that are associated with the testing of COVID-19. NIH’s Rapid Acceleration of Diagnostics (RADx) initiative awarded contracts to seven biomedical diagnostic companies to support the development of COVID-19 PoC and lab-based tests and increase their availability.

Asia Pacific is the fastest-growing market owing to the presence of a large target population in countries such as China, India, South Korea, and Japan. In addition, the increasing adoption of innovative laboratory techniques & techniques such as DNA sequencing for rapid investigation & diagnosis of chronic and infectious disorders is one of the key determinants of market growth.

Key Companies & Market Share Insights

The global genetic testing industry is highly competitive, with a large number of players operating in the genetic testing arena. These companies have a strong presence in the market, extensive product portfolios, broad geographic reach, and strong distribution networks. Additionally, many of these companies have invested heavily in research and development to stay ahead of the competition and offer their customers the most advanced and innovative testing solutions. For instance, in January 2020, ARCHIMED Life announced a strategic alliance with amides Holding GmbH for expanding and providing better access to special diagnostic services for genetic, biochemical, and biomarker testing. Some prominent players in the global genetic testing 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 and Wellness Services DMCC

Genetic Testing Market Report Scope

Global Genetic Testing Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global genetic testing market report based on technology, application, product, channel, end-user, and region:

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Next Generation Sequencing

  • Array Technology

  • PCR-based Testing

  • FISH

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Ancestry & Ethnicity

  • Traits Screening

  • Genetic Disease Carrier Status

  • New Baby Screening

  • Health and Wellness-Predisposition/Risk/Tendency

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Consumables

  • Equipment

  • Software & Services

• Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Online

  • Offline

• End-user Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals & Clinics

  • Diagnostic Laboratories

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait