The increasing incidence of genetic disorders is expected to drive the growth of the United States Hereditary Genetic Testing Market in the forecast period.
According to TechSci Research report, “United States Hereditary Genetic Testing Market –By Region, Competition Forecast, & Opportunities, 2018-2028,” the United States Hereditary Genetic Testing market is anticipated to grow at a steady rate in the forecast period, 2024-2028. This can be ascribed to the growing prevalence of genetic disorders such as cystic fibrosis, and sickle cell diseases along with an increase in the cases of cancer, and genetic anomalies in newborns across the country. Similarly, growing awareness of genetic testing for screening cancer, pre-natal genetic screening the growing usage of NGS for the studies of different genetic diseases will further drive the growth of the market during the forecasted period. Additionally, growing healthcare infrastructure and support by the government for the diagnosis of a genetic disease is expected to create lucrative growth during the forecast period. Also, growing technological advancement such as chromosomal microarray analysis and biochip for the detection of genetic disorders is anticipated to boost the growth of the market over the years.
However, standardization concerns of genetic testing bases diagnostics may hamper the growth of the United States Hereditary Genetic Testing market in the forecast period. Additionally, stringent regulatory requirements for product approvals across regions like north America and South America may hamper the growth of the market during the forecast period. Similarly, the high cost of DNA testing kits can hamper the US Hereditary Genetic Testing market during the forecast period. Also, lack of skilled professionals in the laboratory for managing the DNA analysis technique may hamper the growth of the market over the years.
United States Hereditary Genetic Testing Market can be segmented by technique, application, payer, end user, region and competitive landscape.
Based on Technique, the United States Hereditary Genetic Testing market can be segmented into PCR, DNA Sequencing, Microarrays, and Others. The DNA sequencing segment is expected to dominate the market during the forecast period owing to the growing adoption of this technique for conducting genetic tests. Additionally, growing demand for faster analysis techniques and decreasing costs of the NGS technique is expected to support the segmental growth. Similarly, the growing mutation detection in genes is an important component for oncology genetic testing which will further be driving the growth of the market during the forecast period.
Based on Application, the United States Hereditary Genetic Testing Market can be further segmented into Cardiology, Oncology, Pharmacogenomics, Cognitive Dysfunction, Pathogenomics, and Others. The oncology segment dominated the market in 2022 and is expected to maintain its dominance throughout the forecast period. This can be attributed to i the launch of new and technologically advanced genetic tests by key players along with growing favorable reimbursement policies and growing demand for better diagnosis due to the increasing incidence of cancer across the country.
Major companies operating in the United States Hereditary Genetic Testing Market are:
- Invitae Corporation
- Ambry Genetics
- BioReference Laboratories Inc.
- Progenity Inc.
- Pathema Gx Labs, LLC.
- Quest Diagnostics Incorporated
- Myriad Genetics Inc.
- Fulgent Genetics, Inc.
- Burning Rock Biotech Limited.
In March 2021, GI OnDEMAND announced a collaborated with Ambry Genetics to integrate online genetic counseling and testing services into their nationwide gastroenterology practices and it can identify hereditary GI cancer syndromes to guide through potentially life-altering healthcare decisions.
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“United States Hereditary Genetic Testing Market is expected to register significant growth during the forecast period on account of the increasing demand for accurate and reliable data along with the growing adoption of advanced testing techniques across the country. Similarly, the growing prevalence of chronic diseases such as cardiovascular diseases, cancer, and other genetic diseases will further drive the growth of the market during the forecast period. Additionally, the growing demand for early and preventive care along with growing awareness about DNA sequencing techniques among researchers and laboratory technicians is expected to drive the growth of the market over the years. Besides, the presence of key players providing the genetic tests, growing recommendations provided by government agencies to ensure the quality of hereditary testing services is further expected to increase the demand for hereditary genetic testing market in the US.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Hereditary Genetic Testing Market By Technique (PCR, DNA Sequencing, Microarrays, Others), By Application (Cardiology, Oncology, Pharmacogenomics, Cognitive Dysfunction, Pathogenomics, Others), By Payer (Public Health Insurance, Private Health Insurance, Out of Pocket), By End User (Hospitals, Independent Laboratories), By Region, Competition Forecast & Opportunities, 2018-2028F,” has evaluated the future growth potential of United States Hereditary 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 United States Hereditary Genetic Testing market.