Hereditary Testing Market Estimated to Reach USD 14.6 Billion by 2032 | SNS Insider

Rising Demand for Early Disease Detection, Personalized Medicine, and AI-Driven Genomic Analysis

AUSTIN, TX, UNITED STATES, February 21, 2025 /EINPresswire.com/ -- According to Research by SNS Insider, The Hereditary testing market was valued at USD 7.1 billion in 2023 and is expected to reach USD 14.6 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.3% from 2024 to 2032.

Key Trends Impacting the Hereditary Testing Market

The burgeoning awareness and application of early disease detection and prevention strategies is one of the key factors fostering the growth of the hereditary testing market. As genetic illnesses like cystic fibrosis, sickle cell disease, Huntington’s disease, etc., become more common, patients and doctors are relying on hereditary testing to understand the risks and act accordingly. Moreover, the increasing focus on personalized medicine, which aims to customize treatment plans to an individual's genetic makeup, further propels the demand for hereditary testing. The rising adoption of advanced technologies includes next-generation sequencing (NGS), polymerase chain reaction (PCR), and microarray-based testing. These technologies allow for quicker, more precise, and cheaper genetic testing accessible to a wider population. The integration of artificial intelligence (AI) and machine learning (ML) into genetic data analysis is also proving to be a game-changer, enabling more accurate interpretation of complex genetic information.

The market is also being propelled through government initiatives and funding towards genetic research. The U.S. National Institutes of Health (NIH) invested USD 5.3 billion in genetic & genomic research in 2023, emphasizing the need for hereditary testing to aid healthcare upgradation. Horizon Europe program of the European Union has designated considerable amount of funds toward the genomic research, leading to innovation in hereditary testing market similar to the trend.

Get a Free Sample Report@ https://www.snsinsider.com/sample-request/5702

Key Players in Hereditary Testing Market
• Invitae Corporation (Invitae Genetic Test, Carrier Screening Test)
• Myriad Genetics, Inc. (MyRisk Hereditary Cancer Test, Foresight Carrier Screen)
• Quest Diagnostics Incorporated (BRCAvantage, ClariTest Core)
• Laboratory Corporation of America Holdings (LabCorp) (Integrated Genetics, Hereditary Cancer Panel)
• Illumina, Inc. (TruSight Hereditary Cancer, VeriSeq NIPT Solution)
• Thermo Fisher Scientific, Inc. (Ion Torrent Oncomine, CarrierSeq ECS)
• 23andMe, Inc. (Health + Ancestry Service, Carrier Status Reports)
• Fulgent Genetics (Comprehensive Cancer Panel, X-Linked Panel)
• Color Health, Inc. (Color Hereditary Cancer Test, Genetic Health Screen)
• Bionano Genomics, Inc. (Saphyr System, Genetic Disease Testing Solutions)

Market Segmentation

By Disease Type
In 2023, hereditary non-cancer testing was the largest segment and accounted for more than 79% of the total revenue share. This section covers tests for genetic disorders such as cystic fibrosis, sickle cell anemia, and thalassemia. The demand for non-cancer hereditary testing has been strengthened by the high prevalence of these conditions, as well as the increasing availability of economical testing options. Furthermore, increasing awareness regarding carrier screening tests among prospective parents has enabled the segment growth. Over the forecast period hereditary cancer testing segment of the overall market is expected to grow significantly. Genetic tests for mutations in BRCA1 and BRCA2, which increase the risk of breast and ovarian cancer, are becoming more popular. The increasing occurrence of cancer coupled with rising focus on early detection and prevention are key to fuelling this segment.

By Technology
Molecular testing was the largest technology segment, accounting for 54% of the market revenue in 2023. Molecular testing methods, including PCR and NGS, are commonly used due to their high accuracy, rapid turnaround time, and multiplex capabilities with genes. Also, the demand for molecular testing is more supported by the decreasing cost of NGS and the rising acceptance and growth of whole-genome sequencing. Another significant segment is cytogenetic testing, which examines cells for abnormalities in chromosomes. This technology is widely used to diagnose conditions like Down syndrome and Turner syndrome. Biochemical testing the analysis of the enzymes and proteins that provide information about genetic disorders is also starting to gain ground, especially for newborn screening programs.

Regional Analysis

In 2023, Europe led the hereditary testing market, attaining a 35% revenue share. Its leadership position is due in part to a strong healthcare infrastructure in the region along with high levels of genetic testing awareness and supportive government policies. Genetic research and innovation are the territory of countries like the UK, Germany, and France. Moreover, the European Union's General Data Protection Regulation (GDPR) has contributed to increasing public confidence in genetic testing findings by guaranteeing the confidentiality and security of genetic information. North America is expected to hold a prominent share of the hereditary testing market owing to the presence of top genetic testing companies, well-established healthcare systems, and high healthcare expenditure. The United States is among the better performers as far as regional size, as interest in direct-to-consumer (DTC) genetic testing and personalized medicine continues to grow. In 2023, the U.S. Food and Drug Administration (FDA) approved multiple new genetic tests that continued the expansion of the market growth.

The Asia-Pacific is projected to register the highest CAGR during the forecast period. Some key factors driving the growth of this region are rapid urbanization, rising healthcare expenditure, and awareness regarding genetic testing. Big genomic research and health care investments are made by other countries as China, India and Japan. As an example, China introduced the "Healthy China 2030" initiative which aims to enhance access to healthcare and encourages the use of genetic testing to prevent diseases.

Buy Full Research Report on Hereditary Testing Market 2024-2032 @ https://www.snsinsider.com/checkout/5702

Recent Developments
• In 2023, Illumina, a leading player in the genetic testing market, launched its new NGS platform, NovaSeq X, which offers faster and more cost-effective sequencing. This development is expected to make genetic testing more accessible to healthcare providers and patients.
• 23andMe, a prominent DTC genetic testing company, expanded its health and ancestry testing services to include pharmacogenetic testing, which analyzes how genes affect an individual's response to medications.

For further insights and customized research on the Hereditary Testing Market, contact @ https://www.snsinsider.com/enquiry/5702

About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Jagney Dave
SNS Insider Pvt. Ltd
+1 315-636-4242
email us here
Visit us on social media:
Facebook
X
LinkedIn
Instagram