Predictive Testing Segment to Lead Global Genetic Testing Services Market During 2023-2031

According to our new research study on "Genetic Testing Services Market Forecast to 2031 - Global Analysis - Service Type, Disease, Service Provider, and Geography," the genetic testing services market is expected to grow from US$ 3,860.14 million in 2023 to US$ 12,480.80 million by 2031; it is estimated to record a CAGR of 15.8% from 2023-2031. Key factors driving the growth of the genetic testing services market are the increasing prevalence of genetic diseases, increasing awareness and acceptance of personalized medicines, and growing preference for direct-to-consumer genetic testing.

The genetic testing services market, by service type, is categorized into predictive testing, carrier testing, prenatal testing, newborn screening, and others. In 2023, the predictive testing segment held the largest share of the market and is expected to register the highest CAGR in the market during 2023-2031. Predictive genetic testing examines any genetic changes or mutations that are linked to disease. These tests are done prior to an individual displaying any signs of a disease. Predictive testing can be helpful to people who have a family history of a treatable genetic disorder and display no signs of illness.

This testing can identify mutations that increase an individual's risk of developing disorders with a genetic foundation, such as certain types of cancer. An example is testing for the BRCA1 and BRCA2 gene variants (altered genes) linked with an increased risk of breast cancer. The results of predictive testing can provide information about the probability of developing a specific disorder and help in making decisions about medical care.

Breast cancer is one of the most common types of cancer in the US. A report published by Breastcancer.org in January 2022 stated that ~287,850 new incidences of invasive breast cancer, along with 51,400 new cases of noninvasive breast cancer, were detected in women in the US in 2022. Similarly, in 2022, according to the Canadian Cancer Society, ~28,600 Canadian women were diagnosed with breast cancer, accounting for nearly 25% of all new cancer cases in women. The increasing prevalence of multiple types of cancer is driving the market for the predictive testing segment.

The increasing demand for genetic counseling is expected to drive the market for predictive testing as more people understand the importance of genetics in disease etiology. The ongoing advancements and upgrading of platforms to improve the efficiency of genome analysis techniques are expected to boost the adoption of predictive testing solutions. A growing focus on reducing the growing healthcare burden of rare genetic diseases and rapid integration of technologies such as artificial intelligence and machine learning will enhance product development and fuel the need for predictive testing to assess and prevent future complications arising from diseases effectively.

Laboratory Corporation of America Holdings; F. Hoffmann-La Roche Ltd; Illumina, Inc.; Quest Diagnostics Incorporated; Exact Sciences Corp (Genomic Health); NeoGenomics Laboratories, Inc.; Eurofins Scientific; Ambry Genetics; Centogene AG; and 23andMe, Inc are among the leading companies operating in the genetic testing services market.

Based on service type, the genetic testing services market is classified into predictive testing, carrier testing, prenatal testing, newborn screening, and others. The genetic testing services market, by disease, is classified into cancer, metabolic diseases, cardiovascular diseases, and other diseases. Based on service provider, the genetic testing services market is categorized into hospital-based laboratories, diagnostic laboratories, and others. The genetic testing services market, based on geography, is segmented into North America (US, Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and Rest of MEA), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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