Hereditary genetics in the U.S. has seen a sharp increase in the number of tests that were reimbursed by Medicare. With the growing awareness about the role of hereditary genetic testing and identifying susceptible individuals, more and more people are opting for hereditary genetic testing. Especially the increasing prevalence of cancer and its associated impact on the overall quality of life and the economic burden has fueled the growth in hereditary genetic testing.

 

The US Hereditary Genetic Testing Market was valued at $7.57 billion in 2021 and is expected to grow with a CAGR of 13.09% and reach $29.28 billion by 2032. The growth in the U.S. hereditary genetic testing market is expected to be driven by growing demand for early and preventive care and increasing prevalence and associated disease burden related to various cancers, among others.

Growth Share Analysis

The current U.S. hereditary genetic testing market is extremely dynamic with lots of technological advancements taking place as well as companies vying to have a larger access of their products. The leading players in terms of growth in the U.S. hereditary genetic testing market are Laboratory Corporation of America Holdings and Quest Diagnostics Incorporated followed by F. Hoffmann-La Roche ltd

Market Dynamics 

Impact Analysis 

The impact analysis for the factors that significantly affect the market, namely, drivers, restraints, and opportunities, has been evaluated as per the market scenario during 2018 and 2019. Key developments and strategies that have been undertaken by some of the key players in this market have been considered for the evaluation of the impact analysis. Additionally, approvals and launches from companies and patent bodies have also been considered while evaluating the dynamics of the U.S. hereditary genetic testing market.

Market Lifecycle Stage

The U.S. hereditary genetic testing market appears to be highly dynamic at the moment, with companies focusing on the adoption of advanced technologies in order to cater to the demand of processing large data as well as efforts to make genetic testing reach a larger population.

Market Segmentation

Segment 1: by Product

  1.   Services
  2.   Kits
  3.   Consumables
  4.   Others

Among the product segment, the services segment in the U.S. hereditary genetic testing market occupies the largest share of the market and is expected to dominate in the coming years as well. This is because companies are actively providing services to hereditary testing laboratories in addition to providing genetic testing kits and consumables.

Segment 2: by Sample

  1.   Blood
  2.   Saliva
  3.   Tumor Tissue
  4.   Bone Marrow
  5.   Other Sample Types

Among the sample segment, blood samples are majorly used for conducting hereditary genetic testing in the U.S.

Segment 3: by Application Area

  1.   Clinical Diagnostics
  2.   Academics and Research
  3.   Drug Discovery
  4.   Monitoring and Screening

Among application areas, all the four sub-segments constitute an almost equal share in the U.S. hereditary genetic testing market. However, drug discovery currently occupies a relatively major share, and the share of academics and research is expected to increase in the coming years.

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Key Questions Answered in the Report 

▪ What are the possible long-term and short-term impacts of hereditary genetic testing on the human health continuum? 

▪ What are the major market drivers, restraints, and opportunities in the U.S. hereditary genetic testing market? 

▪ What are the key development strategies implemented by the leading players in order to sustain in the highly competitive market? 

▪ What are the key regulatory implications for the U.S. hereditary genetic testing market? 

▪ How are service-based companies impacting the growth of the U.S. hereditary genetic testing industry and further shaping future trends? 

▪ How are the different segments of the market expected to grow during the forecast period 2022-2032? 

▪ Who are the leading players with significant offerings to the U.S. hereditary genetic testing market, and what is the expected market dominance for each of these players?

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