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Global Predictive Genetic Testing and Consumer Genomics Market Growth & Trends (Inclusive of Impact of COVID-19 Analysis); A Report by Absolute Markets Insights

Published On 04 May 2022 03:08 PM


The global predictive genetic testing and consumer genomics market was valued at US$ 5,090.4 Mn in 2021 and is expected to reach US$ 16,644.7 Mn by 2030, according to a new report by Absolute Markets Insights. The market is expected to expand at a CAGR of 14.0% from 2022 to 2030. The demand for predictive genetic testing is being driven by the ever-increasing acceptance of genetic testing and advancements in genetic testing techniques.  

Predictive testing is used to search for genetic mutations connected with a condition before the symptoms show. Diagnostic testing can identify symptoms before birth or at any point in a person's life, but not for all genes or genetic diseases. A person's decisions concerning health care and disorder treatment may be influenced by the findings of a diagnostic test. A genetic test is a type of medical exam that looks for changes in genes and proteins. The results of a genetic test can confirm or rule out a suspected genetic disorder, as well as predict a person's risk of developing or passing on a genetic disorder. Approximately 77,000 genetic tests are currently in use, with more being developed. Presymptomatic testing can predict if a person will develop a genetic illness, such as hereditary hemochromatosis before any symptoms or signs arise. Predictive and presymptomatic testing findings can provide information about a person's likelihood of developing a specific disorder and aid in making medical treatment decisions. The global predictive genetic testing and consumer genomics market is driven by the increasing prevalence of several chronic diseases such as cancer, diabetes, cardiovascular diseases, and among others. According to the International Agency for Research on Cancer Center, globally an estimated 19.3 million new cancer cases or more were diagnosed in 2020 and cancer accounted for almost 10.0 million deaths around the globe.

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COVID-19, which is caused by a coronavirus strain known as severe acute respiratory syndrome coronavirus 2, has spread around the world, endangering the health of billions of people. The COVID-19 pandemic has posed significant problems to all populations worldwide. In patients with locally advanced cancer and other disorders, predictive factors testing is required for systemic treatment planning. Over the duration of the COVID-19 pandemic, the SARS-CoV-2 virus evolved, resulting in genetic variation in the population of circulating viral strains. Growing demand for various tests to identify a cure on Covid-19 is driving predictive genetic testing and consumer genomics market growth.

Global Predictive Genetic Testing and Consumer Genomics Market Report Highlights

  • In terms of type, consumer genomics is expected to be the fastest-growing segment over the forecast period, owing to increased public awareness and use of online platforms for medicine. Consumer genomic testing (CGT) refers to DNA tests that are sold or marketed directly to consumers for recreational, ancestry, or health-related purposes. Furthermore, in recent years, more companies have entered the direct-to-consumer (retail) market for genomics, which is expected to boost segment growth over the forecast period.
  • By application, the breast and ovarian cancer segment held a significant share in the market in 2021 owing to growing research for the development of medication and treatment devices and the increasing prevalence of cancer cases globally. According to the American Cancer Society (ACS), approximately 21,410 people were diagnosed with ovarian cancer in 2021. In 2021, there will be approximately 13,770 deaths from ovarian cancer. The chances of developing ovarian cancer at some time in one's life are about one in 78.
  • Clinics segment is projected to register the highest growth over the forecast period because they are more cost-effective than other healthcare facilities and provide immediate assistance to patients. In addition, clinics provide better care to their patients, which encourages adoption.
  • Asia Pacific region is anticipated to be the fastest-growing region in the predictive genetic testing and consumer genomics market over the forecast period. Some of the major developing economies such as China, and India are contributing to the growth of the Asia Pacific region owing to the increasing population and rapidly increasing cases of genetics and cancer diseases. Furthermore, government and healthcare institutions are heavily investing in healthcare infrastructure to ensure access to high-tech genetic disease treatments.

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List of Key Players of Predictive Genetic Testing and Consumer Genomics Market

  • 23andMe, Inc.
  • Abbott
  • Agilent Technologies, Inc.
  • Avellino.com
  • BGI
  • Color Health, Inc.
  • F. Hoffmann-La Roche Ltd
  • Gene by Gene, Ltd.
  • Illumina, Inc.
  • Labcorp.
  • Mapmygenome
  • Myriad Genetics, Inc.
  • Quest Diagnostics, Inc.
  • Thermo Fisher Scientific
  • Other Market Participants

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Global Predictive Genetic Testing and Consumer Genomics Market Segmentation

Absolute Markets Insights has segmented the global predictive genetic testing and consumer genomics market on the basis of type, application, setting type, and region:

Global Predictive Genetic Testing and Consumer Genomics Market Type Outlook (Revenue, USD Million, 2015 - 2030)

  • Predictive Testing
    • Presymptomatic Testing
    • Predispositional Testing
  • Consumer Genomics

Global Predictive Genetic Testing and Consumer Genomics Market Application Outlook (Revenue, USD Million, 2015 - 2030)

  • Cardiovascular Diseases
  • Pregnancy care
  • Breast and Ovarian Cancer
  • Prostate cancer
  • Colon Cancer
  • Neurogenetics
  • Ocular Diseases
  • Diabetic Screening and Monitoring
  • Hereditary Cancer
  • Others

Global Predictive Genetic Testing and Consumer Genomics Market Setting Type Outlook (Revenue, USD Million, 2015 - 2030)

  • Direct to Consumer (DTC)
  • Clinics
  • Hospitals
  • Others

Global Predictive Genetic Testing and Consumer Genomics Market Regional Outlook (Revenue, USD Million, 2015 - 2030)

  • North America (U.S., Canada, Mexico, Rest of North America)
  • Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
  • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
  • Latin America (Brazil, Argentina, Rest of Latin America)

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Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization. From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of business intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.


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Press Release Provided By: Absolute Markets Insights