North America Genetic Testing Services Market
No. of Pages: 101 | Report Code: TIPRE00009262 | Category: Life Sciences
No. of Pages: 101 | Report Code: TIPRE00009262 | Category: Life Sciences
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; it is estimated to register a CAGR of 15.2% from 2022 to 2030.
Personalized genetic testing and treatment have long been used globally to help individuals and families learn more about hereditary diseases. Most of the time, genetic testing is done through healthcare personnel, such as genetic counselors. Healthcare providers decide which test is needed, order the test from a test center, collect and send the DNA sample, read the test results, and share the results with the patient. Thus, these tests have traditionally been ordered and interpreted in a clinical or medical research setting. In contrast, DTC genetic testing has witnessed tremendous growth in the past decade and is becoming increasingly widespread.
A genetic test offered, advertised, and sold by companies directly to the consumer, without the direct involvement of a conventional healthcare system, is called DTC genetic testing. DTC genetic testing is relatively new and helps people find out about the disease-associated genes they may carry without the need for a prescription or guidance from a genetic counselor or medical practitioner. Several consumers of DTC testing view it as another method of gathering medical information about themselves.
Unlike other genetic tests performed in clinics or hospitals, the consumer independently initiates and completes a DTC genetic test. The public understanding and acceptance of genetic testing is gradually increasing. Additionally, there is a rise in consumers seeking customized products and experiences for the identification and addressing of unique needs. The launch of innovative products and the increase in the adoption of DTC genetic testing kits have made genetic testing more accessible to people. These kits enable users to undergo personalized health management within the comfort of their homes.
Key industry players are also developing DTC genetic tests and implementing special marketing efforts that positively impact sales of DTC tests. In April 2017, the US Food and Drug Administration (FDA) gave genetics company 23andMe the consent to market DNA tests evaluating the user's level of risk for ten health conditions, including late-onset Alzheimer's disease and Parkinson's disease. These remain the only FDA-approved DTC tests for genetic risk of infection. In July 2023, Quest Diagnostics, a US-based diagnostic information service provider, introduced its first direct-consumer genetic test, Genetic Insights. The test uses next-generation sequencing to evaluate the risk for inheritable health conditions. The test inspects 36 genes using a saliva sample. It can investigate the potential risk of up to 24 genetically inheritable conditions, including breast cancer, heart disorders, blood disorders, and sickle cell anemia.
A rising number of manufacturers are providing direct-to-consumer genetic testing that covers various health conditions and traits. The increasing demand for direct-to-consumer genetic testing products to learn about the genetic makeup and assess the risk of developing hereditary conditions for early disease detection or prevention drives the market.
The North America genetic testing services market in North America is segmented into the US, Canada, and Mexico. In 2022, the US held the largest market share in this region and is expected to continue its dominance during 2022–2030. The North America genetic testing services market in North America is expected to grow due to the rising number of cancer patients, increasing government funding, and rising incidence of genetic diseases among the population in the US and Canada during recent years. Moreover, increasing focus on advanced method incorporation in healthcare, government and private initiatives for the promotion of precision medicine, and massive funds from government and private bodies for genetic research contribute to exceptional revenue generation for the North America genetic testing services market in North America.
Strategic insights for the North America 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. The geographic scope of the North America 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.North America Genetic Testing Services Strategic Insights
North America Genetic Testing Services Report Scope
Report Attribute
Details
Market size in 2022
US$ 1,604.32 Million
Market Size by 2030
US$ 4,984.25 Million
Global CAGR (2022 - 2030)
15.2%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Service Type
By Disease
By Service Provider
Regions and Countries Covered
North America
Market leaders and key company profiles
North America Genetic Testing Services Regional Insights
The North America genetic testing services market is categorized into service type, disease, service provider, and country.
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 the largest market share in 2022.
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 the largest market share in 2022.
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 the largest market share in 2022.
By country, the North America genetic testing services market is segmented into the US, Canada, and Mexico. The US dominated the North America genetic testing services market share in 2022.
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 are among the leading companies operating in the North America genetic testing services market.
The North America Genetic Testing Services Market is valued at US$ 1,604.32 Million in 2022, it is projected to reach US$ 4,984.25 Million by 2030.
As per our report North America Genetic Testing Services Market, the market size is valued at US$ 1,604.32 Million in 2022, projecting it to reach US$ 4,984.25 Million by 2030. This translates to a CAGR of approximately 15.2% during the forecast period.
The North America Genetic Testing Services Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Genetic Testing Services Market report:
The North America Genetic Testing Services Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Genetic Testing Services Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Genetic Testing Services Market value chain can benefit from the information contained in a comprehensive market report.