Genetic Analysis Market worth USD 13 Billion by 2030, says Global Market Insights Inc.

Some of the key players operating in the genetic analysis industry include Thermo Fisher Scientific, Abbott Laboratories, PerkinElmer, Inc., BioRad Laboratories, AutoGenomics Inc., and ELITech Group.

Selbyville, Delaware, Oct. 19, 2022 (GLOBE NEWSWIRE) --

The genetic analysis market value will surpass USD 13 billion by 2030, according to a new research report by Global Market Insights Inc.

Growing prevalence of gene mutations has fostered the adoption of diagnostic methods such as genetic analysis. Moreover, 50 out of 100 women with a mutation in the BRCA1 or BRCA2 gene are at risk of getting breast cancer by the age of 70 years. As a result of this rapid rise in the occurrence of gene mutations, genetic analysis and testing will become a critical part of treatment protocols for rare conditions.

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Genetic analysis market value from the predictive genetic testing segment crossed USD 305 million in 2021. Predictive testing is performed on patients before they showcase any disease symptoms. This is useful in the diagnosis of patients with a family history of any treatable genetic disease. Increasing awareness of the benefits of routine testing will also support the adoption of advanced tests such as predictive gene testing.

The reagents & kits product segment accounted for more than 57% business share in 2021. An assay kit consists of different materials and reagents to easily perform assay functions and obtain expected results as per the standard experimental operating procedure. The reagents in the genome kits can be used for one or several steps of dissolution or dilution before use.

Browse key industry insights spread across 247 pages with 361 market data tables & 17 figures & charts from the report, “Genetic Analysis Market Size By Product, Test, Application, Technology, End-use, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:

Genetic analysis market from others application segment is poised to depict a 6% CAGR between 2022-2030. Metabolic disorders are highly prevalent due to sedentary lifestyles and unhealthy eating habits. As per estimates, every 1 in 3 adults in the United States has metabolic syndrome. Apart from metabolic syndrome, obesity and type-2 diabetes are also becoming increasingly prevalent.

Genetic testing market from the end-users will exceed USD 1.9 billion by 2030. Close to 350 million people across the world are diagnosed with rare and genetic diseases, of which approximately 30 million live in the United States. Genetic analysis is also useful for diagnosing cancer at an earlier stage, with the growing number of cancer patients stimulating the market expansion.

Latin America genetic analysis market is anticipated to register over 7% CAGR from 2022-2030. Growing disposable income in developing countries such as Brazil enables the general population to avail high-quality medical diagnosis and treatment solutions. Furthermore, awareness regarding genetic testing has increased significantly. With the population becoming more cognizant of the importance of timely disease diagnosis, it is likely that the demand for advanced gene tests could witness a substantial rise in Latin America over the forecast period.

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Some of the key players operating in the genetic analysis market include Thermo Fisher Scientific, Abbott Laboratories, PerkinElmer, Inc., BioRad Laboratories, AutoGenomics Inc., ELITech Group, and IntegraGen. Companies are focusing on various strategies such as partnerships to expand their business operations.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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