Hereditary Testing Market to Grow with a CAGR of 7.63% through 2028
Increasing prevalence of
genetic disorders and rising awareness and demand for personalized medicine are
factors driving the Global Hereditary Testing Market in the forecast period 2024-2028.
According to TechSci Research report, “Hereditary
Testing Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Hereditary Testing Market stood at
USD 6.27 billion in 2022 and is anticipated to grow with a CAGR of 7.63% in the
forecast period, 2024-2028. The global hereditary testing market has witnessed
remarkable growth in recent years, driven by a convergence of factors that are
reshaping the healthcare industry. Hereditary testing, also known as genetic
testing or DNA testing, involves the analysis of an individual's genetic
material to identify genetic mutations, variations, and predispositions to
various diseases. It has become an integral part of personalized medicine,
aiding in early disease detection, risk assessment, and tailored treatment
plans.
The growing awareness among healthcare professionals
and the general public about the benefits of personalized medicine has been
instrumental in driving the demand for hereditary testing. Personalized
medicine tailors medical treatment to an individual's genetic makeup, enabling
more effective and targeted interventions. Patients and healthcare providers
are increasingly seeking genetic information to make informed decisions
regarding disease prevention, diagnosis, and treatment. This surge in demand has
fueled the growth of the hereditary testing market.
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One of the primary drivers of the global hereditary
testing market is the continuous advancements in genomic science and
technology. Over the past few decades, there have been significant
breakthroughs in DNA sequencing, which have made genetic testing more
affordable, accessible, and informative. Next-generation sequencing (NGS) and
CRISPR-Cas9 gene editing technologies have revolutionized the field, enabling
researchers and healthcare providers to decipher the human genome with
unprecedented accuracy and speed. As a result, the potential applications of
hereditary testing have expanded, driving market growth.
The prevalence of genetic disorders,
such as cystic fibrosis, Huntington's disease, and hereditary breast and
ovarian cancer, has driven the need for hereditary testing. Genetic testing
allows for early detection and risk assessment of these disorders, facilitating
early intervention and management. Additionally, as our understanding of the
genetic basis of various diseases continues to expand, more genetic markers and
associations are being identified, further boosting the demand for hereditary
testing.
Direct-to-consumer genetic testing has
gained popularity in recent years, making hereditary testing more accessible to
the general public. DTC testing allows individuals to order genetic tests
online or through retail outlets without the need for a healthcare provider's
prescription. This convenience factor has attracted a wide range of consumers
interested in exploring their genetic heritage, ancestry, and health
predispositions. The ease of access and affordability of DTC testing have
significantly contributed to the market's growth.
Governments and regulatory bodies across
the globe have played a crucial role in shaping the hereditary testing market.
They have established guidelines and regulations to ensure the accuracy and
reliability of genetic testing services. Additionally, the regulatory
environment has fostered innovation and investment in the industry by providing
a framework for quality control and data protection, further boosting market
growth.
The Global Hereditary Testing Market is segmented into
disease type, technology
and
company.
Based on disease type, the Hereditary
Non-cancer Testing segment has emerged as the predominant market leader. The data generated from hereditary non-cancer testing
can be valuable for research purposes and drug development efforts.
Understanding the genetic basis of various non-cancer conditions can lead to
the development of targeted therapies and interventions.
Based on region, Europe segment is expected to grow
during the forecast period European
governments often implement policies that encourage the integration of genetic
testing into healthcare practices. This includes reimbursement programs,
insurance coverage, and initiatives to promote public awareness and
understanding of hereditary testing.
European
healthcare institutions, research organizations, and biotech companies
frequently collaborate on projects related to genetic testing. These
partnerships facilitate knowledge sharing, resource pooling, and the
development of cutting-edge testing methods.
The North America is experiencing rapid market growth.
North America is home to a diverse population with varied genetic backgrounds.
This diversity creates a strong demand for hereditary testing services, as
different populations may have unique genetic predispositions to certain
diseases. This factor drives the market's growth.
Major companies operating in
Global Hereditary Testing Market are:
- Myriad Genetics, Inc.
- Illumina, Inc.
- Natera, Inc.
- Laboratory Corporation of
America Holdings
- F.
Hoffmann-La Roche Ltd.
- Quest Diagnostics
Incorporated
- COOPERSURGICAL, INC.
- Agilent Technologies, Inc.
- Thermo Fisher Scientific,
Inc.
- SOPHiA GENETICS
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“The global hereditary testing market is experiencing
robust growth, driven by a combination of scientific advancements, rising
awareness of personalized medicine, the prevalence of genetic disorders,
direct-to-consumer testing options, regulatory support, and strategic
collaborations. As technology continues to evolve and our understanding of
genetics deepens, the hereditary testing market is poised for continued
expansion, offering promising prospects for improving healthcare outcomes and
enhancing the quality of life for individuals around the world.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Hereditary Testing Market By
Disease Type (Hereditary Cancer Testing, Hereditary
Non-cancer Testing), By Technology (Cytogenetic, Biochemical, Molecular Testing),
By
Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Hereditary Testing Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Hereditary
Testing Market.
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