Increasing in chronic diseases and genetical disorders are driving the growth of India Genetic Testing Market in the forecast period, 2024-2028.
According to TechSci Research report, “India Genetic Testing Market – By Region, Competition Forecast and Opportunities, 2018-2028”, the India Genetic Testing market stood at USD 60.78 million in 2022 and is anticipated to grow with a CAGR of 6.94% in the forecast period and reach USD 90.52 million in 2028. This can be ascribed to the growing awareness among the population related to different genetic disorders, especially among the new parents. The couples who conceive are either advised by their doctors to go for genetic testing or themselves go for it during the early phases of pregnancy. Additionally, the COVID-19 pandemic crisis has further created consciousness among the population especially in the metro cities. Also, growing popularity of concepts like nutrigenomics is further expected to create lucrative opportunities for the growth of India genetic testing market in the coming years. However, high cost of genetic tests leads to affordability constraints especially in the rural parts of the country, thereby slowing down the market growth.
Browse over 20 market data Figures spread through 70 Pages and an in-depth TOC on "INDIA GENETIC TESTING MARKET"
The India Genetic Testing market is segmented into its Type, Application, Region, and by Company. Based on its type, the market is divided into Cytogenetic, Biochemical, and Molecular segments. Cytogenetic will have the greatest market share in 2022, accounting for 48.64% of the Genetic Testing market. Cytogenetic testing is popular in India because determining the chromosomes of a sample (blood, bone marrow, or tissue) is simple. It is followed by Biochemical Testing, which involves detecting enzymes and proteins in the body that may be present in an unusual manner.
Based on the application, the market is divided into five categories: (Reproductive, Cancer Screening, Ancestry Testing, Predictive and Pre-symptomatic Testing, and Others. Due to the rise in reproductive crimes, reproductive health dominates the India Genetic Testing market, with a market share of 37.43% in 2022. Following that is Cancer Screening, on account of growing incidences of different types of cancer in the country. According to global cancer observatory, around 1,324,413 new cancer cases were reported in India in 2020 and breast cancer, lip and oral cavity cancer, cervix uteri, lung cancer and colorectum cancer were the most commonly reported cancer types.
The leading companies operating in the India Genetic Testing market are:
- MedGenome Labs Limited
- Strand Life Sciences Private Limited
- Centogene India Private Limited
- Eurofins Clinical Diagnostics Bangalore Private Limited
- Mapmygenome India Limited
- Clevergene Biocorp Private Limited
- Virtus Nutrition Private Limited (The GeneBox)
- LifeCell International Pvt. Ltd.
- Genes2Me Pvt. Ltd.
- GeneTech India Private Limited
India Genetic Testing market is highly fragmented with various regional and state level and city level players operating in the market. The market has gained traction after the COVID-19 pandemic crisis and people have started availing for different types of genetic tests. As a result of this the market is attracting various companies. For instance, Lupin Limited, the third largest pharmaceutical company in India, in terms of revenue, in May 2022 announced that the company intends to make focused investments in the coming weeks in the personalised diagnostics or genetic testing service, a part of its recently launched pathology lab business.
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“Indian Genetic Testing market will see a significant growth during the forecast period of 2018-2028.This rapid growth is anticipated by rapidly growing awareness about genetic testing and growing e-commerce which help patients to book test, online and the sample will be collected from patient’s home then reports will be evaluated and sent to the patients. ”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Genetic Testing Market By Type (Cytogenetic Testing, Biochemical Testing, Molecular Testing), By Application (Reproductive Cancer Screening, Ancestry Testing, Predictive and Pre-symptomatic Testing, Others), By Region, Competition, Forecast & Opportunities, 2018-2028”, has evaluated the future growth potential of India Genetic Testing market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Genetic Testing market.