From GlobeNewswire: 2024-11-14 09:49:00

The Predictive Genetic Testing & Consumer/Wellness Genomics Market was valued at USD 5.74 billion in 2023, expected to reach USD 17.66 billion by 2032, with a CAGR of 13.33% from 2024 to 2032. Technological advancements, cost reduction, and awareness of genetic predispositions to diseases are driving market growth.

Genetic testing is crucial for personalized health management, focusing on prevention, early diagnosis, and targeted treatment. Demand for personalized wellness solutions is rising as consumers seek lifestyle optimization based on their genetic profiles. Advancements in technologies make genetic tests more accurate, faster, and affordable, expanding accessibility.

Factors boosting the market include increasing consumer interest in wellness genomics, investments in predictive genetic testing for early disease detection, and technological advancements making genetic testing more affordable. Personalized medicine and preventative healthcare are driving global consumer adoption of genetic testing.

Predictive Genetic Testing & Consumer/Wellness Genomics Market players include 23andMe Inc., Myriad Genetics Inc., F. Hoffmann-La Roche Ltd, Abbott, and more. The market size in 2023 was US$ 5.74 billion, expected to reach US$ 17.66 billion by 2032, with a CAGR of 13.33% from 2024 to 2032. Key regional coverage includes North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

In 2023, Predictive Testing dominated the market, accounting for 34.0% of the total share, driven by the rising prevalence of genetic disorders. Consumer Genomics is the fastest-growing segment, expected to grow at a 17.9% CAGR between 2024 and 2032. Breast and Ovarian Cancer Screening led the market in 2023, with genetic testing for mutations like BRCA1 and BRCA2 critical for early detection and proactive healthcare strategies. Colon Cancer Screening is also witnessing rapid growth due to increased awareness of hereditary conditions that increase the risk of colon cancer. The demand for genetic screening methods like multigene testing panels, stool DNA tests, and blood tests is rising due to their non-invasive nature and accuracy in detecting genetic risk factors for colon cancer. This market is segmented by test, application, and setting. North America dominates, accounting for 45% of the global share in 2023, driven by major players, high healthcare expenditure, and advanced infrastructure. In the US, companies like 23andMe and Myriad Genetics lead in genetic testing innovation. The Asia Pacific region is the fastest-growing market, with an anticipated CAGR of 15.7% between 2024 and 2032, fueled by increasing awareness of personalized healthcare and improvements in healthcare infrastructure. Recent developments include Myriad Genetics launching the EndoPredict prognostic test for assessing breast cancer recurrence risk and 23andMe partnering with lung cancer advocacy organizations for early detection.



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