Genetic Testing Market by Type, Technology, Geography and Forecast to 2024

The global genetic testing market size is projected to grow considerably in
the coming years, due to the growing number of test to study multiple genes
that may help in managing individual health condition. Additionally, the
government initiatives to spread awareness with respect to the advantages
of procedure is further expected to drive the growth of the market. The
market is categorized into carrier testing, diagnostic testing, new-born
screening, predictive & pre-symptomatic testing, prenatal testing, based on
types of gene testing. Among the various types, new born screening held the
largest share in 2016, due to the growing number of newborn genetic
screening programs, while carrier testing is expected to project the fastest
growth in demand during the forecast period.
The different technologies used for genetic testing include cytogenetic
testing, molecular testing, and biochemical testing. Molecular testing was the
most widely utilized technology used for testing and analysis of genes, and
held the largest share in the global market, in 2016. This leading position of
the category is mainly attributable to the increasing analysis on the biological
markers in the genome and proteome studies.
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North America was the largest contributor to the market in 2016. According
to the NCBI repository that maintains Genetic Testing Registry(GTR)data from
505 lab participants worldwide, the U.S. leads with 259 labs contributions.
Some of the key factors leading to the growth of the market in the region are
the presence of large number of academic and research institutes, rising
government funding, and availability of technologically advanced products.
However, Asia-Pacific is expected to witness the fastest growth in the genetic
testing market during the forecast period. The major factors driving the
region’s growth include increasing awareness about the advantages of
predictive testing, and rise in the adoption of advanced technology for clinical
applications.
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