Genetic Testing Market by Type (Predictive & Presymptomatic Testing, Carrier Testing, Prenatal & Newborn Testing, Diagnostic Testing, Pharmacogenomic Testing, and Others), Technology (Cytogenetic Testing, Biochemical Testing, and Molecular Testing), Application (Cancer diagnosis, Genetic Disease Diagnosis, Cardiovascular Disease Diagnosis, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

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The genetic testing market accounted for $ 12,682 million in 2019, and is expected to reach $ 21,260 million by 2027, registering a CAGR of 10.1% from 2020 to 2027. 

Predictive & presymptomatic testing segment is expected to witness a decline as genetic counselors are largely unable to see patients in person, doctors are not available for counselling and laboratories are not able to run the tests due to COVID-19 pandemic.

Genetic tests are defined as medical devices available in the form of kits and panels that are used for testing genetic diseases in humans. Furthermore, the testing is performed by collecting samples of blood from patients. These samples are then run on laboratory machines using test kits. In addition, there are different types of tests used in testing of genetic disorders. For instance, some genetic tests include, predictive & presymptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. In addition, these tests are used in diagnosis of medical conditions such as cancer diagnosis, genetic disease diagnosis, and cardiovascular disease diagnosis. 

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The global genetic testing market is expected to register substantial growth in the future, owing to rise in incidences of genetic disorders and cancer and rise in awareness & acceptance of personalized medicines. For instance, genetic testing has been widely used in pharmacogenomics, also referred as drug-gene testing. In addition, advancements in genetic testing techniques are expected to boost the genetic testing market growth during the forecast period. However, standardization concerns of genetic testing-based diagnostics and stringent regulatory requirements for product approvals are anticipated to hamper the genetic testing market growth during the forecast period. Conversely, untapped emerging markets in developing countries are expected to provide remunerative opportunities for the market players. For instance, Healthcare systems in developing countries such as Brazil, India, and China have experienced significant increase in investments in healthcare and infrastructure, which leads to surge in demand for genetic testing in the region.

Covid-19 Impact On Global Genetic Testing Market

COVID-19 pandemic has also affected the market adversely. For instance, after COVID-19 was declared as a pandemic by the WHO, countries worldwide adopted lockdowns to observe social distancing as a measure to contain the spread. This led to disruption, limitation, challenges, and changes in each sector of every industry. Similarly, the pandemic has a negative effect on the genetic testing market. This is attributed to the fact that genetic counselors are largely unable to see patients in person, doctors are not available for counselling, and laboratories are not able to run the tests. In addition, governmental bodies such as Centers for Medicaid Services (CMS) presently do not recognize genetic counsellors as healthcare providers and hence, they are not exempted from practicing during lockdowns. Furthermore, clinics reduced face to face genetic counselling to help prevent the spread. However, genetic testing giants such as GeneDx provided an option where they delivered clinician ordered genetic tests. Similarly, clinics and healthcare providers along with patients are now using telehealth as a measure to conduct genetic counselling. In addition, prenatal testing remains least affected out of all types of genetic testing as it is highly essential. For instance, many prenatal genetic counselors reported providing face to face services in the pandemic. Thus, pandemic had an overall negative impact on the genetic testing market.

Genetic Testing Market Segmentation  

The global genetic testing market is segmented on the basis of type, technology, application, and region. By type, the genetic testing market size is categorized into predictive & presymptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. On the basis of technology, it is divided into cytogenetic testing/chromosomal analysis, biochemical testing, and molecular testing. Molecular testing is further classified into DNA sequencing and others. By application, it is segmented into cancer diagnosis, genetic disease diagnosis, cardiovascular disease diagnosis, and others. By region, the genetic testing market size is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Segment Review

By type, the market is segmented into predictive testing & presymptomatic testing, carrier testing, prenatal & newborn testing, diagnostic testing, pharmacogenomic testing, and others. The prenatal & newborn testing segment held dominant position with highest revenue in 2019, and is expected to maintain its dominance during the forecast period. This is attributable to growth in awareness among people regarding healthcare and increase in incidences of mortality rate from genetic diseases across the world. On the other hand, the pharmacogenomic testing segment is anticipated to witness highest CAGR during the forecast period. This is largely anticipated to increase in application in use of personalized medicine across the globe.

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By technology, the molecular testing segment acquired the major genetic testing market share in the year 2019, and is expected to maintain a lead during the forecast period. The growth of this segment is attributed to the fact that molecular testing is the most used technology for genetic testing. For instance, the technology is used in genetic tests such as carrier testing, diagnostic testing, predictive & presymptomatic testing and others. Furthermore, molecular testing is also  preferred as it can be used to analyze gains or losses in DNA that are not detectable with routine chromosome analysis.    

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Region wise, North America was the leading revenue contributor to the global genetic testing market in 2019, and is expected to dominate the market during the forecast period. This is attributed to presence of majority of key players in the region. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to increase in affordability, surge in healthcare expenditure, and rise in awareness toward early screening of genetic disorders. 

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The global genetic testing market is highly competitive and the prominent players in the market have adopted various strategies to garner maximum genetic testing market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Abbott Laboratories, Bio-Rad Laboratories, Inc. (RainDance Technologies, Inc.), Myriad Genetics, Inc. (Myriad RBM, Inc.), Danaher Corporation (Cepheid), F. Hoffmann-La Roche Ltd., Eurofins Scientific, Illumina, Inc., Qiagen N.V., Thermo Fisher Scientific, Inc., and CSL Ltd.

Key Benefits For Stakeholders

• This report entails a detailed quantitative analysis along with the current global genetic testing market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessment.
• The genetic testing market forecast is studied from 2020 to 2027. 
• The market size and estimations are based on a comprehensive analysis of key developments in the industry. 
• A qualitative analysis based on innovative products facilitates strategic business planning.
• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.

 Key Market Segments & Key Market Players