Genetic Testing Market Overview
The genetic testing market was valued at approximately USD 7,836 million in 2020, and it is expected to witness a revenue of USD 14,227 million in 2026, with a CAGR of 10.45% over the forecast period. The COVID-19 pandemic has left a significant impact on the growth of the genetic testing market. Most genetic testing services have adopted virtualization, along with a home testing kit/home sample collection, to combat the transmission of the SARS-CoV2 virus. The increasing technological advancements, rising prevalence of chronic diseases, and the development of customized testing kits for niche therapeutic areas are aiding the rapid growth of the market.
Geographical Overview
North America accounted for the largest share in the genetic testing market
The genetic testing market’s growth is increasing due to the demand for personalized genetic testing services in the region and the rising prevalence of chronic and genetic disorders. The increasing product approvals by the US Food and Drug Administration (FDA) and subsequent launches, along with the high concentration of key players involved in research activities for the innovation of novel genetic testing products, are anticipated to drive the market growth in North America.
Key Highlights of the Market
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List of Key Players in the Genetic Testing Market
*List Not Exhaustive
Mordor Intelligence has segmented the global genetic testing market on the basis of Type, Disease, Technology, and Geography:
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