Genetic Testing Market is Estimated to Witness High Growth Owing to Increasing Consumer Awareness

Saya Bonde

Genetic Testing Market is Estimated to Witness High Growth Owing to Increasing Consumer Awareness

The genetic testing market involves analyzing human DNA sequences in order to determine a person's ancestry, detect genetic diseases or predict their risk of developing certain health conditions. Genetic testing enables early disease detection and diagnosis, and helps in determining appropriate treatments. It is an important part of personalized medicine and plays a key role in disease management and drug development. Growing awareness about genetic testing services and declining prices coupled with rising demand for personalized treatment are some of the major factors driving the market growth.

The Global genetic testing market is estimated to be valued at US$ 18.24 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the genetic testing market include 23&Me Inc., Qiagen NV, Eurofins Scientific, PerkinElmer Inc., Illumina Inc., Danaher Corporation, Myriad Genetics Inc., Abbott Laboratories, F. Hoffmann-La Roche Ltd., Quest Diagnostics Incorporated, BioRad Laboratories Inc., and DiaSorin S.p.A. (Luminex Corporation), among others. These players are focusing on expanding their product portfolios and service offerings through acquisitions and partnerships.

The market offers significant growth opportunities in terms of direct-to-consumer genetic testing services and pharmacogenomic testing. Continuous advancements in sequencing technologies and declining testing prices are further expected to drive adoption rates.

Globally, North America dominates the genetic testing market owing to technological advancements, growing awareness, strong government support and rising disease burden. However, Asia Pacific is expected grow at the fastest rate over the forecast period supported by increasing healthcare expenditure, large patient pool and initiatives taken by market participants.

Market Drivers

Increasing awareness about the importance of genetic testing among consumers is a key growth driver. Earlier people were not fully aware about the benefits and applications of genetic testing. However, with growing literacy rates and health campaigns, consumers are now more informed about genetic conditions, disease risk factors and test reliability. This has boosted demand for genetic screening and diagnostic testing.

Medical simplification owing to genetic data is another major market driver. Genetic information helps physicians understand disease pathology at molecular level and determine best treatment strategies. It facilitates streamlined diagnosis and aids drug development process. Thus genetic testing is gaining recognition as an integral part of precision medicine approach which examines individual patient characteristics.

PEST Analysis

Political: The genetic testing market is regulated by various government bodies worldwide and regulatory policies play a major role in shaping the overall demand and supply dynamics. Changes in regulations regarding data privacy and usage of genetic information impacts the market.

Economic: Economic growth leads to higher spending on healthcare and wellness. Growing affordability influences consumer spending on genetic testing for various health and ancestry applications.

Social: Increased awareness about genetic profiling and risk assessment drives demand. People are more open to knowing their genetic makeup for predicting health risks and taking preventive measures. Social stigmas towards certain genetic disorders also influence testing decisions.

Technological: Advanced technologies like next-generation sequencing and rapid DNA analysis have made tests more affordable and accessible. Innovations facilitate comprehensive screening of entire human genomes in short durations enabling clinical and research applications. Wearable biosensors and portable devices also aid decentralized community healthcare using genetic data.

Geographical concentration

North America currently accounts for the largest share of the global genetic testing market, primarily led by the United States. Robust healthcare infrastructure, rising incidence of chronic diseases, growing geriatric population susceptible to genetic disorders, and increasing consumer awareness drive the regional market.

Fastest growing region

Asia Pacific is poised to be the fastest growing regional market over the forecast period supported by factors such as rising healthcare expenditure, increasing population with genetic health risks, expanding medical tourism industry and entry of global market players. Growing middle-class populations in countries like China, India and Japan offer significant growth opportunities.

Saya Bonde

Global Antimicrobial Additives Market Is Estimated To Witness High Growth Owing To Increasing Concerns Regarding Hygiene and Rising Demand for Antibacterial Plastics

Yashvi Gadhiya 2023-08-16

The global antimicrobial additives market is estimated to be valued at USD 2. The increasing concern regarding hygiene and the rising demand for antibacterial plastics are driving the growth of the antimicrobial additives market. Firstly, the growing concern regarding hygiene and the need for effective microbial control in various industries are propelling the demand for antimicrobial additives. For example, in healthcare facilities, antimicrobial additives are used in medical devices, hospital furniture, and equipment to prevent the spread of infections. Silver has long been recognized for its antimicrobial properties and is widely used in the production of antimicrobial additives.

Global Direct-to-Consumer Genetic Testing Market to Reach $6.60 Billion by 2031, Says BIS Research Study

bisresearch reports 2022-02-11

The premium market intelligence report published by BIS Research on the title Global Direct-to-Consumer Genetic Testing Market highlights that the market is projected to reach $6. The global direct-to-consumer (DTC) genetic testing market consists of companies providing genetic testing services without the involvement of healthcare professionals. The DTC genetic testing companies offer genetics testing services for ancestry, health and wellness, and entertainment. Browse 04 Market Data Tables and 104 Figures spread through 187 Pages and in-depth TOC of the Global Direct-to-Consumer Genetic Testing Market – Analysis and Forecast, 2021-2031. Related Reports:Global Molecular Diagnostics Point of Care Market - Analysis and Forecast, 2019-2029Global Molecular Diagnostics Market – Analysis and Forecast, 2018-2028Global Single-Cell-Sequencing Market – Analysis and Forecast, 2018-2029

Direct-to-Consumer (DTC) Genetic Testing Market Forecast and Analysis by 2028: Laboratory Corporation of America, Myriad Genetics, Color Genomics and Others

Gift Panashe 2023-04-25

It presents in-depth insights into the Direct-to-Consumer (DTC) Genetic Testing industry's historical and projected market data, demand, application specifics, pricing trends, and market shares of the top Direct-to-Consumer (DTC) Genetic Testing companies in different geographic regions. An in-depth analysis of Direct-to-Consumer (DTC) Genetic Testing market dynamics, including market opportunities, major trends, and forecasts for the period 2023-2028, is also provided. This report provides an in-depth, focused analysis of Direct-to-Consumer (DTC) Genetic Testing industry key market segments:By Types covered are:Disease Risk and HealthAncestry or GenealogyKinshipLifestyleBy Applications covered are:On-line SalesDoctor’s OfficeMajor Region Covered in the Direct-to-Consumer (DTC) Genetic Testing industry report:The global Direct-to-Consumer (DTC) Genetic Testing market analyzes its status and forecast. Analyze the current and future outlook of the Global Direct-to-Consumer (DTC) Genetic Testing market in both developed and emerging markets. Review the former, ongoing, and projected analysis of the Direct-to-Consumer (DTC) Genetic Testing market in terms of volume and value.

Direct-To-Consumer (DTC) Genetic Testing Market 2024: Global Industry Analysis Report

Sushmitha 2024-03-07

Learn More On The Direct-To-Consumer (DTC) Genetic Testing Market:https://www. Anticipating a continuation of this momentum, the direct-to-consumer (DTC) genetic testing market is poised for significant expansion, reaching an estimated valuation of $3. The rising prevalence of diseases and disorders with genetic transmission capabilities is expected to propel the growth of the direct-to-consumer (DTC) genetic testing market going forward. Therefore, the rising prevalence of diseases and disorders with genetic transmission capabilities is driving the growth of the direct-to-consumer (DTC) genetic testing market. The direct-to-consumer (dtc) genetic testing market report table of contents includes:1.

Direct-to-consumer Genetic Testing Market Report 2020: Industry Growth, Trends and Forecast To, 2025

Maria Sealy 2020-04-01

The statistical surveying report on the global Direct-to-consumer Genetic Testing Market has been presented by using professional or expert knowledge through standard and modified research approaches and forecasts.

The yearly forecast and predication for the years 2020 to 2025 have been enclosed by the report along with comprehensive analysis for all market segments and regions.

The statistical data derived from authentic resources and assisted by industry experts.

It likewise assesses the market by evaluating market elements, including drivers, restraints, opportunities, threats, challenges, growth prospects, and other market elements.The global direct-to-consumer genetic testing market report presents a complete research-based study of the industry including details such as company shares, forecast data, in-depth analysis and an outlook of the market on a worldwide platform.

For a thorough understanding, the report also offers market segmentation and regional analysis for the forecast period from 2020 to 2025.Get FREE Sample Report Copy @ https://www.decisiondatabases.com/contact/download-sample-43122Direct-to-consumer (DTC) genetic testing is a type of genetic test that is accessible directly to the consumer without having to go through a health care professional.

Usually, to obtain a genetic test, health care professionals (such as doctors) acquire their patient's permission and then order the desired test.

Direct-to-Consumer (DTC) Genetic Testing Market Share, Revenue and Forecast Upto 2027

Maximize Market Research 2021-12-23

This market research report provides unique insights into how the global Direct-to-Consumer (DTC) Genetic Testing market is expected to grow from 2021 to 2027. The primary goal of the Direct-to-Consumer (DTC) Genetic Testing market research is to provide detailed information on market opportunities that are assisting in the transformation of global Direct-to-Consumer (DTC) Genetic Testing enterprise. com/request-sample/113891 Market Scope:Maximize Market Research, report provide overall market insights for manufacturers, suppliers, distributors, and investors in the global Direct-to-Consumer (DTC) Genetic Testing market. COVID-19 Impact Analysis on Direct-to-Consumer (DTC) Genetic Testing Market:COVID-19's global influence on the Direct-to-Consumer (DTC) Genetic Testing market was examined in this research. com

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Predictive Genetic Testing & Consumer/Wellness Genomics Market Report 2023-2029

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In-depth Predictive Genetic Testing and Consumer/Wellness Genomics Market Study:This report delves into the most recent revenue statistics and market trends within the Predictive Genetic Testing and Consumer/Wellness Genomics industry. It offers a comprehensive overview of the “Predictive Genetic Testing and Consumer/Wellness Genomics Market”, detailing its definition, market structure, and proactive management strategies. com/request-sample/105070Predictive Genetic Testing and Consumer/Wellness Genomics Market Extent and Perspectives:The Global Predictive Genetic Testing and Consumer/Wellness Genomics Market report is a reservoir of statistical and analytical insights providing a holistic understanding of market size, share, growth, trends, demand, key players, industry summaries, opportunities, value cycles, end-users, technology, types, and applications. A genetic testing technique called predictive testing finds genetic variants linked to a higher chance of contracting specific diseases. Section Heading: Predictive Genetic Testing and Consumer/Wellness Genomics MarketPart 01: Executive SummaryPart 02: Scope of the Predictive Genetic Testing and Consumer/Wellness Genomics Market ReportPart 03: Predictive Genetic Testing and Consumer/Wellness Genomics Market LandscapePart 04: Predictive Genetic Testing and Consumer/Wellness Genomics Market SizingPart 05: Predictive Genetic Testing and Consumer/Wellness Genomics Market Segmentation by TypePart 06: Five Forces AnalysisPart 07: Customer LandscapePart 08: Geographic LandscapePart 09: Decision FrameworkPart 10: Drivers and ChallengesPart 11: Market TrendsPart 12: Vendor LandscapePart 13: Vendor AnalysisMajor Things :Market Share, Size, and Forecast by Revenue|2022-2029Market Dynamics: Growth drivers, Restraints, Investment Opportunities, and Key TrendsMarket Segmentation: A Detailed Analysis by Predictive Genetic Testing and Consumer/Wellness GenomicsLandscape Analysis: Leading key players and other prominent industry figures.

Global Direct-to-Consumer (DTC) Genetic Testing Industry Market Research Report by 2020-2026

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The global Direct-to-Consumer (DTC) Genetic Testing market 2020-2026 report focuses on the global Direct-to-Consumer (DTC) Genetic Testing status, future forecast, development opportunity, key market, and key players.

The report mainly studies the Direct-to-Consumer (DTC) Genetic Testing market size, recent patterns and development status, as well as investment openings, market dynamics, and industry news.

This report moreover encloses all the regions and countries of the world, which manifests a regional development status, including market size, volume, and value, just as price information.Global Direct-to-Consumer (DTC) Genetic Testing Market Research Report is an authentic outline and top to bottom study on the current and future market of the Direct-to-Consumer (DTC) Genetic Testing industry.

The report speaks to a fundamental review of the Direct-to-Consumer (DTC) Genetic Testing market share, competitor segment with a basic presentation of key vendors, top regions, product types, and end businesses.

This report gives a historical overview of the Direct-to-Consumer (DTC) Genetic Testing market patterns, development, revenue, limit, cost structure, and key driver’s analysis.Detailed TOC along with also Charts & Tables of Direct-to-Consumer (DTC) Genetic Testing Market Research Report accessible at: https://www.futuristicreports.com/request-sample/31919Key Players Mentioned at the Direct-to-Consumer (DTC) Genetic Testing Market Report:Laboratory Corporation of AmericaMyriad GeneticsColor GenomicsPathway Genomics23andMeHelixWeGeneAfrican AncestryGene by GeneThermo FisherMapMyGenomeQuest Diagnostics Applications On-line SalesDoctor’s OfficeTypesDisease Risk and HealthAncestry or GenealogyKinshipLifestyleRegional Or Country Level Customization : https://www.futuristicreports.com/customize-request/31919Direct-to-Consumer (DTC) Genetic Testing Market: Regional analysis includes:Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)Europe (Turkey, Germany, Russia UK, Italy, France, etc.

)North America (the United States, Mexico, and Canada.

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Direct-to-Consumer Laboratory Testing Market: IntroductionAccording to the report, the global direct-to-consumer laboratory testing market was valued at US$ 2.4 Bn in 2020.

These test results can be used to track a current health condition, diagnose a previously undiagnosed medical issue, or provide information on personal health traits.

Laboratory professionals play a critical part in this process.Request Brochure @https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=75779The prevalence of various lifestyle-associated and infectious diseases such as obesity, hypertension, diabetes, cancer, and STD has increased.

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Inclusion of network intelligence allows mobile network operators (MNOs) to achieve efficient network management and cross spectrum protection.This report includes a comprehensive analysis of the adoption of AI in telecom, highlighting the major technology trends and opportunities available across the ecosystem.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/artificial-intelligence-insight-series-artificial-intelligence-in-telecom/request-sampleCompetitive AnalysisThis section includes a study of key telecom companies and other emerging entities in the AI in telecom space.

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Genetic Testing Market Scenario Highlighting Major Drivers & Trends, 2023 – 2030

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