Dublin, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The "Hereditary Testing Market by Disease Type, by Technology, and by Region - Global Forecast to 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The hereditary testing market size is estimated to be USD 6,345.1 million in 2022 and is expected to witness a CAGR of 9.51% during the forecast period 2023-2033.
This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including disease type and technology from 2022 to 2033.
Growing field of reproductive genetic health, increase in the demand for newborn screening, and rise in the need for genetic testing are projected to drive the market growth in near future.
Furthermore, increasing technological developments and surge in chronic diseases is expected to support the market growth. However, ineffective regulation of the tests is predicted to limit market growth are expected to restrain the market growth.
Increase in the demand for newborn screening is projected to drive the market growth. Continuous growth in the demand for newborn screening has increased the demand for DNA testing kits, which has increased revenues. Newborn screening is becoming more widely used globally, which is helping to boost sales.
Multigene panel testing for hereditary cancer has been included into clinical practise as a result of changes to genetic testing recommendations. Information on various cancer risk factors and treatment is available in the National Comprehensive Cancer Network (NCCN) Clinical Practice Guidelines in Oncology (NCCN Guidelines) for breast, ovarian, and colorectal cancers.
Rise in the need for genetic testing anticipated to fuel the market growth. DNA screening kit purchases have surged as a result of the rise in the demand for genetic testing. For instance, in November 2019, the Virginia Department of General Services Division of Integrated Laboratory Facilities examined 7,867 babies for over 31 genetic and metabolic disorders.
The market is expanding as newborn screening is being used more often globally. Multigene panel screening has become more prevalent in clinics for inherited disorders due to modifications made to genetic testing protocols.
By Disease Type
The market is categorized into hereditary non-cancer testing and hereditary cancer testing.
In 2022, the hereditary cancer testing segment accounted for the highest revenue share. The breast cancer segment dominated the market during the forecast period due to the range of products and services available for various hereditary cancer tests. The market has been substantially fueled by the recent entry of big players including Quest in this area.
Companies are emphasizing on business strategies to increase their position in this market as they view breast cancer genetic testing as a valuable source of revenue. Offering hereditary tests for less than competitors charge is one of the approaches. For instance, Color Genomics started selling its products for USD 259, whereas Myriad charged approximately USD 4,000 for comparable items.
The market is segmented into biochemical, cytogenic and molecular testing.
In the global market, the molecular testing segment accounted for the largest revenue share in 2022 owing to fact that genetic analysis is the most extensively used method for hereditary genetic screening.
For instance, carriers testing, medical tests, pre-symptomatic testing, and other procedures all make use of genetic hereditary testing kits. Genetic testing is also preferred as it can be used to study DNA increases and losses that are undetectable by standard chromosomal inspection.
In 2022, Europe region accounted for the highest revenue in the hereditary testing market and is expected to maintain its dominance during the forecast period.
This is attributed to existence of major players offering genetic testing, widespread use of cutting-edge therapies, and recommendations made by government organisations to guarantee the quality of hereditary testing services. The approval and commercialization of tests in the worldwide market have been profoundly impacted by regional variations in regulatory frameworks pertaining to genetic tests.
Presently, numerous significant American companies and other countries in Europe, Asia Pacific, and other regions provide a broad range of genetic tests. The all-cash equity acquisition of Blueprint Genetics by diagnostic information services provider Quest Diagnostics was announced in January 2020.
Next-generation sequencing (NGS) and proprietary bioinformatics are the main tools used by Blueprint Genetics to interpret gene variants. By making actionable insights into genetic and rare diseases more widely available, Quest and Blueprint Genetics will enhance patient care and pharmaceutical medicine research and development. Such measures can improve the genetic testing situation for inherited disorders in North America, promoting local revenue generation.
Some of the key players operating in the hereditary testing market are Laboratory Corporation of America Holdings, Illumina, Inc., Quest Diagnostics Incorporated, CooperSurgical, Inc., F. Hoffmann-La Roche Ltd, Invitae Corporation, Agilent Technologies, Inc., Natera, Inc., Myriad Genetics, Inc., and Thermo Fisher Scientific, Inc.
To achieve a competitive edge, these businesses are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.
For instance, Natera's cross-selling initiatives have enabled the business to generate significant revenue throughout the years. The business encourages women who have not had carrier screening tests in their first trimester to use both Horizon and Panorama products.
Segmentation: Hereditary Testing Market Report 2022 - 2033
Disease Type (Revenue, USD Million), 2022 - 2033
Hereditary Non-cancer Testing
Preimplantation Genetic Diagnosis & Screening
Newborn Genetic Screening
Non-invasive Prenatal Testing (NIPT) & Carrier Screening Tests
Hereditary Cancer Testing
Technology (Revenue, USD Million), 2022 - 2033
By Region (Revenue, USD Million), 2022 - 2033
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
A selection of companies mentioned in this report includes
Laboratory Corporation of America Holdings
Quest Diagnostics Incorporated
F. Hoffmann-La Roche Ltd
Agilent Technologies Inc.
Myriad Genetics Inc.
Thermo Fisher Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/r/r1nld4
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