Predictive Genetic Testing & Consumer/Wellness Genomics Market Size to Reach USD 12.8 Billion in 2028: Reports and Data

Prominent players operating in the market are Myriad Genetics, Inc., Color Genomics Inc., Helix, 23andMe, Inc, Illumina, Inc, Gene by Gene, ARUP Laboratories, Laboratory Corporation of America, Pathway Genomics, Genesis Genetics, BGI, Quest Diagnostics, Thermo Fisher, and WeGene.

New York, June 09, 2021 (GLOBE NEWSWIRE) -- Increasing awareness about utilization of genetic tests and integration of predictive genetic testing with advanced technology are factors expected to drive market growth.

Market Size – USD 4.5 billion in 2020 Market Growth – 14% Market Trends – Increasing demand for predictive healthcare

The global predictive genetic testing & consumer/wellness genomics market size is expected to reach USD 12.8 billion in 2028, registering a CAGR of 14% over the forecast period, according to the latest report by Reports and Data. Major factor driving market revenue growth is increasing global awareness about utilization of genetic tests. Moreover, growth of pharmaceutical companies involved in research of genomics will enhance market growth opportunities.

Predictive genetic testing is the type of a genetic test that predicts future risk of diseases in an asymptomatic person. Genetic testing involves examination of one’s DNA and is capable of revealing mutations or any changes in the genes of living beings.

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Growing awareness regarding benefits of predictive genetic testing and introduction of Next-generation Platform Sequencing (NGS) are expected to accelerate market growth over the forecast period. Predictive genetic testing helps in analyzing a genetic condition for better treatment and support.

Growing trends of healthy lifestyle and rising health care awareness programs have created the demand for predictive genetics testing & consumer/wellness genomics. Genetic testing helps to predict future risk of disease and offers information and data about the genetic makeup of a child. Moreover, tests are effective for people having a history of genetic disorder. For instance, a global research study by Mayo Clinic, USA concluded that 1 in 10 people who opted predictive genetic testing realized that they had a hereditary risk for a health condition which could be cured from preventive care.

However, high cost on genomic research equipment and complexity in predictive genetic testing & consumer/wellness genomics are major factors that may restrain the market to a certain extent going ahead. Moreover, lack of trained professionals and inadequate funding are expected to create further challenges for market growth.

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Some Key Highlights in the Report:

  • The predictive genetic testing segment accounted for largest revenue share in the global market in 2020.
  • The breast & ovarian cancer based predictive testing segment is expected to register a significant CAGR during the forecast period due to rising prevalence of ovarian and breast cancer globally.
  • The Direct To Consumer (DTC) segment is expected to hold largest market share over the forecast period due to growing awareness related to DTC genetic tests.
  • North America region is expected to account for largest revenue share over the forecast period due to robust healthcare infrastructure.
  • Revenue from the Asia Pacific predictive genetic testing & consumer/wellness genomics market is expected to grow at a significantly high rate due to favorable government and private investments on genomics-related pharmaceutical R&D.

Segments covered in the report:

For the purpose of this report, Reports and Data has segmented the global predictive genetic testing & consumer/wellness genomics market on the basis of type, application, setting type, and region:

Type Outlook (Revenue, USD Billion; 2018 – 2028)

  • Predictive Testing
  • Consumer Genomics
  • Wellness Genomics

Application Outlook (Revenue, USD Billion; 2018 – 2028)

  • Predictive Genetic Testing & Consumer Genomics
    • Diabetic Screening & Monitoring
    • Colon Cancer
    • Breast & Ovarian Cancer
    • Urologic screening/ Prostate cancer screening
    • Cardiovascular screening
    • Parkinsonism / Alzheimer's Disease
    • Orthopedic & Musculoskeletal
    • Other cancer screening
    • Other diseases
  • Wellness Genomics
    • Skin & Metabolism Genetics
    • Nutria Genetics
    • Others

Setting Type Outlook (Revenue, USD Billion; 2018 – 2028)

  • Clinic
  • Direct to Consumer
  • Hospital

Regional Outlook (Revenue, USD Billion; 2018 – 2028)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa

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