At 15.2% CAGR, North America Genetic Testing Services Market is Projected to be Worth US$ 4,984.25 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the North America genetic testing services market was valued at US$ 1,604.32 million in 2022 and is expected to reach US$ 4,984.25 million by 2030, registering a CAGR of 15.2% from 2022 to 2030. Rising prevalence of genetic diseases and growing preference for direct-to-consumer (DTC) genetic testing are among the critical factors attributed to drive the North America genetic testing services market growth.

The prevalence of genetic diseases is rising across the world and impacting the health of people at a severe level. Genetic diseases show many symptoms that are uncommon and are mostly non-curable. Most of the genetic diseases are rare and are developed due to the mutation in the genetic makeup of the people. According to The World Health Organization (WHO) 2021, 10 out of every 1,000 people are affected by single-gene diseases, signifying that 70 million and 80 million people worldwide are living with any one type of single-gene disease. As per the Global Genes, ~7,000 known rare diseases and disorders have been identified worldwide, and more are being discovered every year. According to the University of Sheffield research, ~300 million people are living with genetic diseases around the world. In 2022, a report by MJH Life Sciences (US) estimated that 300,000 newborns worldwide are born with sickle cell disease every year, accounting for ∼5% of the global population. Also, as per the study titled "Sickle Cell Disease," published in August 2023, 1 in 500 African Americans is affected by sickle cell disease, and ∼1 in 12 African Americans carry the autosomal recessive mutation. Thus, the rising prevalence of genetic diseases fuels the demand for genetic testing, which in turn drives genetic testing services market growth.

On the contrary, the social and ethical implications of genetic testing hamper the growth of North America genetic testing services market.

Based on service type, the North America genetic testing services market is segmented predictive testing, carrier testing, prenatal testing, newborn screening, and others. The predictive testing segment held 39.7% market share in 2022, amassing US$ 637.06 million. It is projected to garner US$ 2,165.31 million by 2030 to register 16.5% CAGR during 2022–2030.

In terms of disease, the North America genetic testing services market is categorized into cancer, metabolic diseases, cardiovascular diseases, and other diseases. The cancer segment held 45.1% share of North America genetic testing services market in 2022, amassing US$ 723.77 million. It is anticipated to garner US$ 2,460.90 million by 2030 to expand at 16.5% CAGR during 2022–2030.

By service provider, the North America genetic testing services market is segmented into hospital-based laboratories, diagnostic laboratories, and others. The hospital-based laboratories segment held 62.7% share of North America genetic testing services market in 2022, amassing US$ 1,005.93 million. It is projected to garner US$ 3,356.93 million by 2030 to expand at 16.3% CAGR from 2022 to 2030.

Based on country, the North America genetic testing services market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 81.5% share of North America genetic testing services market in 2022. It was assessed at US$ 1,306.93 million in 2022 and is likely to hit US$ 4,208.99 million by 2030, registering a CAGR of 15.7% during 2022–2030.

Key players operating in the North America genetic testing services market are 23andMe Holding Co, Ambry Genetics Corp, Eurofins Scientific SE, Exact Sciences Corp, F. Hoffmann-La Roche Ltd, Illumina Inc, Laboratory Corp of America Holdings, NeoGenomics Inc, Centogene AG, and Quest Diagnostics Inc, among others.

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