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Genetic Testing Market Share

Report ID: GMI2490
Published Date: Sep 2024
Report Format: PDF

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Genetic Testing Market Share

The competitive landscape of the market is characterized by intense rivalry among key players striving to innovate and expand their market presence. Leading companies such as Abbott Laboratories, Illumina Inc., and Qiagen N.V. dominate the market with their extensive product portfolios and robust R&D investments. Additionally, mergers, acquisitions, and strategic partnerships are common strategies employed to broaden market reach and access new technological capabilities.

Genetic Testing Market Companies

Prominent players operating in the genetic testing industry are as mentioned below:

23 and ME, Inc.
Abbott Laboratories
Ambry genetics
Ancestry DNA
bioMerieux SA
BGI Genomics
Illumina, Inc.
Invitae Corporation
Luminex Corporation
Myriad Genetics, Inc.
Natera, Inc.
QIAGEN N.V.
Quest Diagnostics
Siemens Healthineers AG

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global genetic testing industry was valued at USD 18.6 billion in 2023 and is projected to grow at a CAGR of 12.3% from 2024 to 2032, driven by advancements in genomics, including high-throughput sequencing technologies and enhanced bioinformatics tools.

The kits & reagents segment dominated the market, generating a revenue of USD 12.1 billion in 2023. This segment includes next-generation sequencing (NGS) kits, which provide a high-throughput method for sequencing entire genomes or specific regions, facilitating comprehensive genetic analysis for both research and clinical diagnostics.

North America secured a substantial market share of 46.3% in 2023 and is expected to dominate throughout the forecast period. The regions growth is supported by the presence of major market players and leading research institutions focused on genetic research, creating a conducive environment for market expansion.

Key players in the genetic testing industry include 23 and ME, Inc., Abbott Laboratories, Ambry Genetics, Ancestry DNA, bioMerieux SA, BGI Genomics, Illumina, Inc., Invitae Corporation, Luminex Corporation, Myriad Genetics, Inc., Natera, Inc., QIAGEN N.V., Quest Diagnostics, and Siemens Healthineers AG.