Newark, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Brainy Insights estimates that the USD 10 billion in 2022 DNA Testing market will reach USD 23.04 billion by 2030. With a positive growth outlook over the long term, the demand for home DNA testing will experience a steady recovery during the forecast period. The increasing demand for home based DNA testing is expected to increase the demand for DNA testing kits.
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Key Insight of the DNA Testing Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest DNA Testing market share. Key factors favouring the growth of the DNA Testing market in North America include the increasing technological advancements in the region. The market growth in the region is also driven by well-developed healthcare infrastructure and favourable government initiatives.
The PCR-Based segment is expected to augment the DNA Testing market during the forecast period
The PCR-based segment is anticipated to dominate the market over the forecast period. The growth of PCR-based DNA testing is driven by the easy availability of testing kits and reagents capable enough to do basic DNA testing for disease diagnosis.
The infectious disease diagnostics segment market size is 2.1 billion in 2022
The infectious disease diagnostics segment held the largest market share in 2022 and is expected to continue during the forecast period, owing to the increasing cases of infectious diseases. Furthermore, the growing number of human infections also increases the demand for infectious disease diagnostics through DNA testing, propelling the segment's growth.
DNA Testing Market Scope:
| Report Coverage | Details |
| Page number | 236 |
| Base year | 2021 |
| Forecast period | 2022-2030 |
| Growth momentum & CAGR | Accelerate at a CAGR of 11.0% |
| Market growth 2022-2030 | USD 23.04 billion |
| Market structure | Fragmented |
| Regional analysis | APAC, Europe, North America, South America, and MEA |
| Performing market contribution | The Asia Pacific is expected to grow the fastest during the forecast period. |
| Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
| Companies profiled | Abbott Laboratories, Agilent Technologies Inc., Illumina Inc., Beckman Coulter Inc., Bio-Rad Laboratories, Thermo Fisher Scientific, Applied Biosystems Group, Cepheid Inc., Transgenomic Inc., Siemens Healthcare |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Advancement in market
In November 2020, The US-based Taysha Gene Therapies and the US-based Invitae health startup joined to assist Invitae's Detect Lysosomal Storage Diseases (Detect LSDs) and Behind the Seizure programmes by providing patients with complimentary genetic testing.
In December 2020, Whole-genome sequencing (WGS) will be made available to a select group of Harvard Pilgrim members owing to a risk-sharing arrangement established by Illumina, Inc., a known American genetic testing company, and Harvard Pilgrim Health Care, another significant US-based participant. WGS will be used by the initiative to facilitate a quicker detection of genetic disorders in youngsters.
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Market Dynamics
Driver: Growing prevalence of genetic diseases
Genetic diseases can result in health issues that are so severe they make living impossible. In the most extreme circumstances, these disorders may result in the miscarriage of the affected embryo or baby. The demand for DNA testing is increasing as hereditary illnesses, and birth abnormalities become more common.
Restraint: High Cost
DNA testing is costly, which hinders the market's growth. Some health insurance policies may not cover the cost of expensive DNA testing. The various DNA testing prices vary depending on the ailment being tested for. Breastcancer.org reports that the price of DNA testing for cancer can range from $300 to $5,000. The type of test and its complexity can affect how much a genetic test costs.
Opportunity: Rising disposable income
Numerous economic and social factors, including the health system's financial arrangements and organizational structure, influence the amount of money a nation spends on healthcare and its growth rate over time. Mainly, there is a significant correlation between a nation's overall income level and the amount of money its citizens spend on health care. Thus, the rising disposable income of people is expected to provide lucrative growth opportunities over the forecast period.
Challenge: Stringent government regulations
There are several stringent government regulations related to DNA Testing. The FDA regulates DNA testing in various ways, some of which necessitate regulatory frameworks as complex as those for Class III medical devices. According to the FDA's final advice, businesses cannot sell a single product with a label that identifies both approved and banned applications. However, according to the FDA, marketing DNA testing equipment with approved/cleared functions and additional activities for which a sponsor does not need permission or clearance is permitted.
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Some of the major players operating in the DNA Testing market are:
● Abbott Laboratories
● Agilent Technologies Inc.
● Illumina Inc.
● Beckman Coulter Inc.
● Bio-Rad Laboratories
● Thermo Fisher Scientific
● Applied Biosystems Group
● Cepheid Inc.
● Transgenomic Inc.
● Siemens Healthcare
Key Segments cover in the market:
By Technology:
● PCR Based
● Microarray Based
● In-situ Hybridization
● NGS DNA Diagnosis
By Application:
● Pre-natal DNA Carrier Screening
● Newborn DNA Screening
● Pre-implantation Diagnosis
● Oncology Diagnostics & Histopathology
● Infectious Disease Diagnostics
● Identify Diagnostics & Forensic
● Pharmacogenomics Diagnostic Testing
● Others
By Region
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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