Global Genetic Testing Market Projected to Reach $26.4 Billion by 2030 Amidst Personalized Medicine Demand
The global genetic testing market, valued at US$15 billion in 2024, is projected to grow to US$26.4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.9%. This expansion is driven by increasing demand for personalized medicine, a rise in genetic disorders, broader application of genomic testing in oncology, and continuous advancements in sequencing technologies and data analytics. Genetic testing is expanding its role across various medical fields, including cancer care, cardiovascular medicine, rare disease diagnosis, prenatal and newborn screening, carrier screening, pharmacogenomics, and predictive testing. Personalized medicine is a significant catalyst, as healthcare providers increasingly utilize genomic information to select therapies, assess treatment responses, and mitigate adverse effects. Direct-to-consumer genetic testing is also contributing to market growth by enhancing public awareness and accessibility. Government funding, private investment, clinical research, and produc...