The U.S. hereditary genetic testing market was valued at $7.57 billion in 2021 and is expected to grow with a CAGR of 13.09% and reach $29.28 billion by 2032. The growth in the U.S. hereditary genetic testing market is expected to be driven by growing demand for early and preventive care and increasing prevalence and associated disease burden related to various cancer, among others.

Market Lifecycle Stage

The U.S. hereditary genetic testing market appears to be highly dynamic at the moment, with companies focusing on the adoption of advanced technologies in order to cater to the demand of processing large data as well as efforts to make genetic testing reach a larger population.

Market Segmentation

Segment 1: by Product

1. Services
2. Kits
3. Consumables
4. Others

Among the product segment, the services segment in the U.S. hereditary genetic testing market occupies the largest share of the market and is expected to dominate in the coming years as well. This is because companies are actively providing services to hereditary testing laboratories in addition to providing genetic testing kits and consumables.

Segment 2: by Sample

1. Blood
2. Saliva
3. Tumor Tissue
4. Bone Marrow
5. Other Sample Types

Among the sample segment, blood samples are majorly used for conducting hereditary genetic testing in the U.S.

Segment 3: by Application Area

1. Clinical Diagnostics
2. Academics and Research
3. Drug Discovery
4. Monitoring and Screening

Among application area, all the four sub-segments constitute an almost equal share in the U.S. hereditary genetic testing market. However, drug discovery currently occupies a relatively major share, and the share of academics and research is expected to increase in the coming years.

Recent Developments in the U.S. Hereditary Genetic Testing Market

• On 3 October 2022, Laboratory Corporation of America Holdings concluded the transactions, establishing a long-term laboratory connection with Ascension. This partnership with Ascension boosts access to Laboratory Corporation of America Holdings’ clinical laboratory services, analytics, and laboratory network for the Ascension-served communities, eventually enhancing productivity and healthcare services.
• On 29 September 2022, Illumina, Inc. announced the launch of the NovaSeq X Series (NovaSeq X and NovaSeq X Plus), the new production-scale sequencers. These production-scale sequencers are designed to enable faster, more powerful, and more sustainable sequencing. With the aid of this technology, the company aims to lead advancing genomic research and clinical understanding, ultimately improving patient lives.
• On 14 September 2022, Qiagen, N.V. entered into a partnership with Neuron23 in order to provide a companion diagnosis for Neuron23’s brain penetrant leucine-rich repeat kinase (LRRK2) inhibitor for Parkinson’s disease.

Demand Drivers and Restraints

Following are the demand drivers identified for the U.S. hereditary genetic testing market

• Growing Demand for Early and Preventive Care
• Increasing Number of New Cases of Cancer Indications and Associated Disease Burden
• Increasing Technological Advancement Resulting in Improved Outcome
• Rising Prevalence of Genetic Disorders

The U.S. hereditary genetic testing market is expected to face some challenges due to the following reasons

• Hesitation Among Patients Toward Genetic Testing
• High Capital Requirement Hampering the Expansion
• Lack of Accurate Risk Assessment in Neuromuscular Disorders

How can this report add value to an organization?

Product/Innovation Strategy: The report highlights the approaches being considered for making the test reach a larger population. The companies are incorporating data analytics and various software applications that can help them in fetching a more accurate result from a large genome data bank available to the company. The report also provides an epidemiology forecast of selected cancer indications across different regions of the U.S., which again helps in assessing the expected market opportunity for hereditary genetic testing.

Growth/Marketing Strategy: The several growth strategies identified in the report include increased focus toward technological advancement in making the tests more accurate as well as quick, making the tests more accessible to a broader population either by reducing the price or by getting them approved for reimbursement.

Competitive Strategy: The report provides insight into the existing competition in the U.S. hereditary genetic testing market. The leading players, along with their contributions and market shares, have been identified and profiled in the report. Moreover, a detailed competitive benchmarking of the players operating in the U.S. hereditary genetic testing market has been included to help the reader understand how players stand against each other, presenting a clear market landscape. The report also highlights the key activities the companies were engaged in in the last three years. This will additionally help in evaluating the dynamics of the market with respect to growth and sustainability in the business.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

The U.S. hereditary genetic testing market in 2021 was dominated by the following key players with a total market share of 51.45%:

1. Laboratory Corporation of America Holdings
2. Quest Diagnostics Incorporated
3. F. Hoffmann-La Roche Ltd.

The following companies had a total market share of over 25% in 2021 and were highly active in the U.S. hereditary genetic testing market:

1. BGI
2. Illumina, Inc.
3. Eurofins Scientific SE
4. Myriad Genetics, Inc.
5. Natera, Inc.

The post U.S. Hereditary Genetic Testing Market: Focus on Product, Sample Type, Application Area, and Genetic Testing Type – Analysis and Forecast, 2022-2032 first appeared on CRI Report.

Market Segmentation

• Product – Kits, Consumables, Services, Others
• Sample Type – Tumor Tissue, Bone Marrow, Blood, Saliva, Others
• Application – Oncology Genetic Testing, Cardiology Genetic Testing, Neurology Genetic Testing, Newborn Screening, Prenatal Screening and Preimplantation Testing, Rare Disease Testing, Direct-to-Consumer (DTC) Testing

Regional Segmentation

• EU5: Germany, U.K., France, Italy, Spain
• Nordic Region: Finland, Sweden, Denmark, Norway
• Baltic Region: Estonia, Lithuania, Latvia

Market Growth Drivers

• Increasing Awareness Toward Hereditary Genetic Testing
• Rising Prevalence of Genetic Disorders
• Increasing Research Funding in the Field of Genomics

Market Challenges

• High Cost of Genetic Testing
• Stringent Regulatory Standards

Market Opportunities

• Technological Advancements in the Hereditary Genetic Testing Process
• Growing Demand for Direct-to-Consumer (DTC) Testing Service

Key Companies Profiled

Agilent Technologies, Inc., Woble Helsinki Oy, Negen Oy, Devyser, CeGat GmbH, Beijing Genomics Institute (BGI), BerGenBio ASA, Eurofins Scientific SE, F. Hoffmann-La Roche Ltd, Illumina, Inc., Myriad Genetics, Inc., Alnylam Pharmaceuticals, Inc., Quest Diagnostics Incorporated, Thermo Fisher Scientific Inc.

Key Questions Answered in this Report:

• What is the current trend in the Europe hereditary genetic testing market?
• Based on products, which segment is anticipated to witness a massive rise in demand during the forecast period 2021-2031?
• Based on sample type, which segment is anticipated to witness a massive rise in demand during the forecast period 2021-2031?
• Based on types of testing, which segment is anticipated to witness a massive rise in demand during the forecast period 2021-2031?
• Based on countries, which country is anticipated to witness a massive rise in demand during the forecast period 2021-2031?
• What are the major drivers, challenges, and opportunities in the Europe hereditary genetic testing market?
• What are the key developmental strategies implemented by the key players to stand out in this market?
• Which leading companies are dominating the Europe hereditary genetic testing market, and what is the share of these companies in the Europe hereditary genetic testing market?
• What are the regulations pertaining to the Europe hereditary genetic testing market, and what initiatives have been implemented by different government bodies regulating the development and commercialization of Europe hereditary genetic testing?
• How is each segment of the Europe hereditary genetic testing market expected to grow during the forecast period, and what will be the revenue generated by each of the segments by the end of 2031?
• How is the market for Europe hereditary genetic testing expected to evolve during the forecast period 2021-2031?
• What is the market scenario for the Europe hereditary genetic testing market in different countries?
• What are the key trends of different regions in the Europe hereditary genetic testing market? Which country is expected to contribute to the highest sales in the Europe hereditary genetic testing market during the forecast period 2021-2031?

Europe Hereditary Genetic Testing Market Overview

Genetic testing is a type of DNA testing used to determine changes in chromosome structure or DNA sequence. Genetic testing can also include measuring the outcomes of genetic modifications, such as mutation, RNA analysis as an output of gene expression, or biochemical analysis to measure specific protein output. For cancer risk, genetic testing includes testing for inherited genetic variants that can be associated with a high to moderately increased risk of cancer in the patient and are responsible for inherited cancer susceptibility syndromes.

Hereditary genetic testing classifies changes in chromosomes, genes, and proteins. The outcome of hereditary genetic testing authorizes a suspected genetic condition that further helps to determine a person’s chance of passing or developing a genetic disorder. To date, more than 1,000 hereditary genetic tests have been used, and many others are being developed for testing.

Europe is one of the powerhouses for genomic science and research. Genetic testing data sharing is becoming an integral part as scientists join forces across borders for enabling genetic testing for the benefit of mankind. Genetic testing can be performed for various purposes, which may or may not fall in medical science. Thus, regulatory needs depend on the context of the test being performed and for which purpose. It can be either to detect monogenic diseases, medical-nonmedical purposes, predispositions or carrier tests, diagnostic and treatment purposes, predictive tests for late-onset diseases, drug response, family planning, forensics, population screening, and DNA profiling or research.

With several companies eagerly competing to establish dominance in the Europe hereditary genetic testing market, several emerging companies have undertaken significant activities to establish their position in the market. Although these companies are currently far behind the market leaders, some of them have made significant strides to grow into major players, owing to initiatives undertaken to expand their respective product portfolios and regional footprints.

Our healthcare experts have found hereditary genetic testing to be one of the most rapidly evolving markets. The market for Europe hereditary genetic testing is predicted to grow at a CAGR of 13.34% during the forecast period 2021-2031. As per CRI research, hereditary genetic testing comprises the ecosystem of multiple services offered, products used, and the target population.

The optimistic scenario of the market can be witnessed if the COVID-19 recovery is swift across key countries in Europe. The scenario assumes an increasing demand for technology, products, services, and growth in the end-user base across regions. Furthermore, the scenario also assumes more product and service launches for genetic testing, especially in the Nordic and Baltic regions. Additionally, the companies in the market are investing more in rare disease and reproductive genetics, which is one of the bolstering factors for optimistic growth.

The following report presents the reader with an opportunity to unlock comprehensive insights with respect to the Europe hereditary genetic testing market and helps in forming well-informed strategic decisions. The market research study also offers a wide perspective of the different types of hereditary genetic testing products and services available in the market and their impact on the diagnostic and genomics industry by providing critical insights into the direction of its future expansion.

The Europe hereditary genetic testing market has been growing since its inception. Several European countries, including Germany, France, the U.K., Italy, Spain, Denmark, Finland, Sweden, Norway, Estonia, Lithuania, and Latvia, are working persistently to enhance the adoption of precision medicine solutions, including hereditary genetic testing market, across Europe region. Acknowledging the unique role of hereditary genetic testing is a significant step toward the establishment of a suitable and effective regulatory approval procedure, coupled with an effective pricing strategy and reimbursement policy. However, country-specific technology evaluation and reimbursement policies in Europe may result in different coverage for many genetic testing technologies across Europe. For instance, in France, Germany, Italy, and the U.K., HER2 testing is publicly funded. However, in Spain, the majority of NGS testing is funded by hereditary-based test manufactures. Therefore, companies are trying to work closely with the payers and other decision-makers to increase the adoption on a country-by-country, and in few cases, hospital-by-hospital basis, which generally limits accessibility and results in a poor adoption rate.

Germany accounted for the maximum share of the market within the Europe region in 2020. The country has one of the biggest pharmaceutical markets in Europe. Further, it is among the largest exporter of medicinal products and ranks among the top pharmaceutical producers globally. The growth in this region can be primarily attributed to the rising pharmaceutical R&D expenditure, increasing geriatric population coupled with growing disease prevalence, and the rising focus to eradicate rare diseases across the region. However, the region also faces high competition from the Asian economies that offer cheap manufacturing materials and low cost of labor.

Within the research report, the market is segmented based on products, sample type, applications, and region. Each of these segments has been further categorized into sub-segments to compile an in-depth study. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.

Competitive Landscape

The Europe hereditary genetic testing market is largely dominated by companies such as Woble Helsinki Oy, Negen Oy, Devyser, CeGaT GmbH, Beijing Genomics Institute (BGI), BerGenBio ASA, Eurofins Scientific SE, F. Hoffmann-La Roche Ltd, Illumina, Inc., Laboratory Corporation of America Holdings, Myriad Genetics, Inc., Alnylam Pharmaceuticals, Inc., Quest Diagnostics Incorporated, and Thermo Fisher Scientific Inc.

Companies such as LabCorp, Illumina, Myriad, and Quest Diagnostics are the leading suppliers of genetic testing products and services in the Europe market. When compared to the other European countries, the Nordic and Baltic region is mainly dominated by Bluprint Genetics (Quest Diagnostics) and Eurofins. In addition, regional players such as Devyser, CeGat GmbH, and Negen Oy offer products in the markets.

Among the Nordic and Baltic regions, the Nordic region contributes more to the Europe hereditary genetic testing market. The country which performs the largest number of genetic tests in the Nordic region is Finland. A lot of investment in research for characterization of the population for rare diseases has been made in Finland by Blueprint Genetics.

Global Direct-to-Consumer Genetic Testing Market: Focus on Direct-to-Consumer Genetic Testing Market by Product Type, Distribution Channel, 15 Countries Mapping, and Competitive Landscape – Analysis and Forecast, 2021-2031

The post Europe Hereditary Genetic Testing Market – A Regional Analysis: Focus on Products, Sample Type, Applications, and Nordic and Baltic Region, Country Data (12 Countries), and Competitive Landscape – Analysis and Forecast, 2020-2031 first appeared on CRI Report.