North America Genetic Testing Market Size

Statistics for the 2023 & 2024 North America Genetic Testing market size, created by Mordor Intelligence™ Industry Reports. North America Genetic Testing size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of North America Genetic Testing Industry

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North America Genetic Testing Market  Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 7.78 Billion
Market Size (2029) USD 12.54 Billion
CAGR (2024 - 2029) 10.02 %

Major Players

North America Genetic Testing Market Major Players

*Disclaimer: Major Players sorted in no particular order

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North America Genetic Testing Market Analysis

The North America Genetic Testing Market size is estimated at USD 7.78 billion in 2024, and is expected to reach USD 12.54 billion by 2029, growing at a CAGR of 10.02% during the forecast period (2024-2029).

The COVID-19 pandemic left a significant impact on the growth of the genetic testing market. According to the study published in Prenatal Diagnosis in March 2021, the COVID-19 pandemic influenced pregnant women's decisions about prenatal genetic testing. Patients' access to and use of prenatal genetic tests may have been impacted by the pandemic. According to a study published in January 2021 by a group of researchers from the United States, there was an urgent need for the development of approaches that can reduce the serious challenges affecting patients with rare and undiagnosed diseases and families. The challenges include diagnostic and/or prognostic uncertainty coupled with medical complexity leading to poor health outcomes. In addition, clinical trials focused on rare diseases had also been affected by the COVID-19 pandemic. The pandemic created several challenges for clinical trials. The challenges associated with finding, recruiting, and retaining patients with rare diseases majorly impacted clinical trials. The genetic testing market was severely impacted by the COVID-19 outbreak but has recovered in the two years to show strong growth in the post pandemic era.

The market is growing constantly owing to factors, like increasing demand for personalized genetic testing services in the region and the rise in the prevalence of chronic and genetic disorders. According to the CDC, most clinics and hospitals have restricted in-person delivery of non-essential healthcare services, including genetic counseling, to minimize coronavirus transmission. Hence, though the market studied had slowed down due to the pandemic, the situation is expected to improve gradually.

According to the World Federation of Hemophilia 2021 Report, there were about 14,816 patiens with hemophilia (hemophilia A - 11,790 and hemophilia B - 3,026) in the United States in 2020 and 3,924 patients with hemophilia in Canada in 2020 (hemophilia A - 3,223 and hemophilia B - 701) . Such a high number of hemophilia cases in these regions is expected to drive the growth of the market due to the higher adoption of therapies for hemophilia. Thus, increasing genetic diseases in the region is driving the need for genetic testing.

The increasing product approvals by the USFDA and subsequent launches are anticipated to drive the market's growth in North America. For instance, in October 2021, F. Hoffmann-La Roche Ltd launched AVENIO Tumor Tissue CGP Kit, a comprehensive genomic profiling kit to make tailored cancer research more accessible. Thus, given the growing cancer incidence and strategies taken ahead by key players in the region, the genetic testing market is expected to grow significantly over the forecast period in North America.

North America Genetic Testing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)