Asia Pacific Genetic Testing Services Market

The Asia Pacific genetic testing services market was valued at US$ 646.31 million in 2022 and is expected to reach US$ 2,156.88 million by 2030; it is estimated to register a CAGR of 16.3% from 2022 to 2030.

Untapped Emerging Markets in Developing Countries Boost Asia Pacific Genetic Testing Services Market

Emerging countries such as China, India, Brazil, and Mexico offer significant growth opportunities to market players. The high growth can majorly be attributed to the increasing public healthcare expenditure, improving healthcare infrastructure, and the presence of a large target patient population. The need for genetic testing has also increased owing to a rise in awareness of genetic disorders in developing economies and their early diagnosis. The ease and applicability of genetic testing procedures have benefitted R&D activities in developing regions worldwide. Major market players are focusing on strategies and initiatives, such as agreements, collaborations, partnerships, and expansions, to improve their product availability, accessibility, and distribution networks in these countries, as it will help them address the growing need for early diagnosis and treatment. For instance, in 2023, Progenesis, a well-known international genetic testing company with its headquarters in the US, has opened its first Genetic Laboratory in New Delhi and its AI & Bioinformatics Data Center in Chennai, marking the company's official entry into the Indian market. The Chinese government identifies genomics as an important strategic field in its 14th Five-Year Plan (2016-2020) for the country's economic and social development. In 2016, the Chinese Academy of Sciences launched the Precision Medicine Initiative, a 14-year project worth US$ 9.2 billion to sequence more than 100 million human genomes by 2030. In December 2017, China's Ministry of Science and Technology collaborated with a human genome research project to document the genetic makeup of 100,000 people. Using the genetic data of nine different minority groups, researchers desire to decode hereditary information within genes. In addition, rising consumer awareness regarding DTC genetic tests in developing economies offers growth opportunities to the DTC industry. Therefore, emerging markets in developing countries are expected to offer significant opportunities to the players operating in the market and boost the market growth during the forecast period.

Asia Pacific Genetic Testing Services Market Overview

The Asia Pacific genetic testing services market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. The market growth is driven by a large pool of patients living with genetic conditions and increasing investments by the governments of the respective countries in the region. An increase in affordability, surge in healthcare expenditure, and rise in awareness toward early screening of genetic disorders are expected to fuel the market growth in the forecast period. In addition, the rise in the development and research for genomics and the rise in the programs for genomics further augment the market growth.

Asia Pacific Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Genetic Testing Services Strategic Insights

Strategic insights for the Asia Pacific Genetic Testing Services provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Genetic Testing Services Report Scope

Asia Pacific Genetic Testing Services Regional Insights

The geographic scope of the Asia Pacific Genetic Testing Services refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Asia Pacific Genetic Testing Services Market Segmentation

The Asia Pacific genetic testing services market is categorized into service type, disease, service provider, and country.

Based on service type, the Asia Pacific genetic testing services market is segmented predictive testing, carrier testing, prenatal testing, newborn screening, and others. The predictive testing segment held the largest market share in 2022.

In terms of disease, the Asia Pacific genetic testing services market is categorized into cancer, metabolic diseases, cardiovascular diseases, and other diseases. The cancer segment held the largest market share in 2022.

By service provider, the Asia Pacific genetic testing services market is segmented into hospital-based laboratories, diagnostic laboratories, and others. The hospital-based laboratories segment held the largest market share in 2022.

By country, the Asia Pacific genetic testing services market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific genetic testing services market share in 2022.

Eurofins Scientific SE, Exact Sciences Corp, Laboratory Corp of America Holdings, Quest Diagnostics Inc, Illumina Inc, F. Hoffmann-La Roche Ltd, and Centogene AG are among the leading companies operating in the Asia Pacific genetic testing services market.