Global Genetic Analysis Research Report 2023: A $45+ Billion Industry by 2032 Featuring Major Players - Bio-Rad Laboratories, Danaher, Sysmex, Agilent Technologies, and Thermo Fisher Scientific

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Jun 22, 2023, 17:30 ET

DUBLIN, June 22, 2023 /PRNewswire/ -- The "Genetic Analysis Market Share, Size, Trends, Industry Analysis Report, By Type, By Application, By Technology, By End-Use, By Region, Segment Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.

The global genetic analysis market size is expected to reach USD 45.10 billion by 2032

A growing number of testing services are being developed across many countries to analyze various types of genes that might increase or decrease the risk of diseases, including cancer and diabetes, as these tests have the potential to prevent people from common ailments and enhance the health of individuals, are major factors driving the global market growth.

Furthermore, growing applications of genetic testing or analyzing services in oncology, decreasing cost of sequencing procedures, and high proliferation of innovations in the emerging genetic counseling field are likely to create lucrative growth opportunities.

For instance, in December 2022, HSE introduced the National Strategy for Accelerating Genetic and Genomic Medicine in Ireland. This strategy has been developed in collaboration with the Department of Health to enhance patient and family-centered genetics, which will be nationally coordinated.

There has been a significant shift from the "SNP BeadArray" chips to innovative NGS-based services due to the increasing affordability of the sequencing chemical & reagents. Costs associated with these advanced technologies have fallen drastically over the last few years to make them available for many patients.

For example, Illumina has announced its intent to drive the cost of NGS down to USD 100 per genome and will continue to work towards this goal.

Genetic Analysis Market Report Highlights

Prenatal and newborn testing segment accounted for significant global market share in 2022, on account of growing prevalence of variety of genetic diseases among infants
Cancer segment is projected to grow at a considerable CAGR during the forecast period, because of the continuous rise in the burden of different types of cancers worldwide
Next-generation sequencing segment held the significant market revenue share in 2022, which is mainly accelerated by increasing technological advancements in several sequencing platforms
Research & development laboratories segment captured the highest market share in 2022, due to their ability to offer wide range of tests with higher accuracy and effectiveness
Europe region is anticipated to expand at fastest growth rate over the projected period, owing to increasing consumer disposable income and rise in the number of government favorable initiatives
The global key market players include Bio-Rad Laboratories, Danaher Corporation, Sysmex Corporation, Agilent Technologies, and Thermo Fisher Scientific

Genetic Analysis Market Dynamics

Drivers and Opportunities

Increase in incidences of genetic disorders and cancer
Rise in awareness & acceptance of personalized medicines

Restraints and Challenges

Standardization concerns of genetic testing-based diagnostics

Porter's Five Forces Analysis

PESTLE Analysis

Genetic Analysis Industry Trends

Value Chain Analysis

COVID-19 Impact Analysis

Company Profiles

Abbott Laboratories
Bio-Rad Laboratories Inc.
Danaher Corporation
F. HOFFMAN-La Roche Ltd.
Illumina Inc.
Myriad Genetics Inc.
Thermo Fisher Scientific Inc.
CSL Ltd.
Eurofins Scientific
Siemens Healthinier
PerkinElmer Inc.
Sysmex Corporation
Hologic Inc.
QIAGEN
Agilent Technologies Inc.
Baylor Genetics.

Scope of the Report

Genetic Analysis, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Predictive Genetic Testing
Carrier Testing
Prenatal and Newborn Testing
Disease Diagnostic Testing
Pharmacogenomic Testing
Others

Genetic Analysis, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Cancer
Genetic Diseases
Cardiovascular Diseases
Rare Diseases
Infectious Diseases
Others

Genetic Analysis, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

Next-Generation Sequencing
Real-Time PCR System
Others

Genetic Analysis, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

Hospitals
Research & Development Laboratories
Diagnostic Centers
Others

Genetic Analysis, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa

For more information about this report visit https://www.researchandmarkets.com/r/drzuzh

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