Home Press Releases Hereditary Testing Market Size Worth US$10.07 Billion by 2029 | CAGR: 6.3%

Hereditary Testing Market Size Worth US$ 10.07 Billion by 2029 | CAGR: 6.3%

The global hereditary testing market size is expected to reach USD 10.07 billion by 2029 according to a new study by Polaris Market Research. The report “Hereditary Testing Market Share, Size, Trends, Industry Analysis Report, By Disease Type (Hereditary Cancer Testing, Hereditary Non-Cancer Testing); By Technology (Cytogenetic, Biochemical, Molecular Testing); By Region; Segment Forecast, 2021 – 2029” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The rising demand for prompt identification of genetic disorders, as well as the introduction of cost-effective therapeutic alternatives by major companies, are driving market expansion. As per market figures given by the association committed to rare illnesses, approximately 300 million individuals globally are now struggling from one of the 6,000 documented types of uncommon ailments.

 

Increased technical breakthroughs in recent years have created several prospects for business expansion. The rise in the incidence of chronic illnesses and the creation of tailored kits for specific treatment areas are assisting in the market’s quick expansion. The increased emphasis by governments throughout the globe on regulating and raising awareness about genetic testing has led to a speedier acceptance of these tests around the world.

 

The increased R&D investment, combined with the significant presence of the industry’s leading competitors, has produced a high entry barrier. Product development improvement, performance improvement, and powerful distribution alliances are critical elements for maintaining a competitive advantage in the market. For example, in August 2020, DNA Chip Research Inc. and Ricoh Company Ltd. released RICOH Standard DNA Series EGFR mutation Type001, a benchmark DNA plate to be utilized in blood-based genetic testing for lung cancer detection.

 

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Lung cancer is among the primary cancer types with a limited number of treatments. This is because inherited genetic abnormalities don’t cause most occurrences of lung cancer. Likewise, most cervical cancer occurrences are triggered by the Human Papillomavirus (HPV) rather than genetic changes. The scientific activities in this industry are being driven by a lack of adequate evidence about the heredity of cervical cancer.

 

Asia Pacific is expected to grow at a CAGR of 7.3% over the forecast period. However, Europe accounted for the highest share due to an increase in tests throughout the region, and technology improvement in the area of examination is likely to fuel hereditary test industry growth during the forecast period.

 

Some of the major players operating in the global market are CENTOGENE N.V., Agilent Technologies, Inc., CooperSurgical, Inc., Thermo Fisher Scientific, Inc, Fulgent Genetics, Inc., F. Hoffmann-La Roche Ltd, Illumina, Inc., Laboratory Corporation of America Holdings, Invitae Corporation, Myriad Genetics, Inc., Medgenome, Natera, Inc., Sophia Genetics, Quest Diagnostics Incorporated, and Twist Bioscience.

 

Polaris Market Research has segmented the hereditary testing market report on the basis of disease type, technology, and region:

 

Hereditary Testing, Disease Type Outlook (Revenue – USD Million, 2017 – 2029)

  • Hereditary Cancer Testing
    • Lung Cancer
    • Breast Cancer
    • Colorectal Cancer
    • Cervical Cancer
    • Ovarian Cancer
    • Prostate Cancer
    • Stomach/Gastric Cancer
    • Melanoma
    • Sarcoma
    • Uterine Cancer
    • Pancreatic Cancer
    • Others
  • Hereditary Non-Cancer Testing
    • Genetic Tests
      • Cardiac Diseases
      • Rare Diseases
      • Other Diseases
    • Newborn Genetic Screening
    • Preimplantation Genetic Diagnosis & Screening
    • Non-invasive Prenatal Testing (NIPT) & Carrier Screening Tests

Hereditary Testing, Technology Outlook (Revenue – USD Million, 2017 – 2029)

  • Cytogenetic Testing
  • Biochemical Testing
  • Molecular Testing

Hereditary Testing, Regional Outlook (Revenue – USD Million, 2017 – 2029)

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

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