At 15.3% CAGR, Europe Genetic Testing Services Market is Projected to be Worth US$ 3,284.96 Million by 2031 says Business Market Insights

According to Business Market Insights’ research, the Europe genetic testing services market was valued at US$ 1,049.33 million in 2023 and is expected to reach US$ 3,284.96 million by 2031, registering a CAGR of 15.3% from 2023 to 2031. Regulatory support for DNA testing services and rising prevalence of genetic diseases are among the critical factors attributed to drive the Europe genetic testing services market.

In Europe, regulatory support for DNA testing services is crucial to ensure that these services meet safety, accuracy, and privacy standards. The framework for genetic testing is guided by several key laws and guidelines that provide consumer protection and foster trust in genetic services.

One of the most important regulations is the General Data Protection Regulation (GDPR), which took effect in 2018. The GDPR imposes strict rules on handling personal data, including genetic information, requiring companies to obtain clear consent from consumers before collecting or processing their genetic data. It also grants individuals the right to access, correct, or delete their personal data, promoting greater transparency and privacy protection.

Additionally, the In Vitro Diagnostic Medical Devices Regulation (IVDR), which became effective in May 2022, governs genetic tests intended for medical purposes, such as diagnostic or risk assessment tests. This regulation ensures that genetic tests meet stringent standards for accuracy, reliability, and clinical validity, thereby protecting consumers from misleading or inaccurate results.

The European Commission is also working to harmonize laws across member states to establish consistent standards for genetic testing services. This effort aims to enhance consumer confidence and support the growth of the market. Together, these regulatory measures play a vital role in creating a safe, ethical, and reliable environment for genetic testing in Europe.

On the flip side, the affordability of genetic services hampers the growth of Europe genetic testing services market.

Based on type, the Europe genetic testing services market is segmented into predictive testing, carrier testing, prenatal testing, new-born screening, and diagnostic genetics testing. The predictive testing segment held 32.7% market share in 2023, amassing US$ 343.48 million. It is projected to garner US$ 1,117.51 million by 2031 to register 15.9% CAGR during 2023–2031.

In terms of disease, the Europe genetic testing services market is categorized into cancer, cardiovascular disease, metabolic disease, and other. The cancer segment held 48.6% share of Europe genetic testing services market in 2023, amassing US$ 509.52 million. It is anticipated to garner US$ 1,728.47 million by 2031 to expand at 16.5% CAGR during 2023–2031.

In terms of service provider, the Europe genetic testing services market is categorized into hospital-based laboratories, diagnostic laboratories, and other service provider. The hospital-based laboratories segment held 63.4% share of Europe genetic testing services market in 2023, amassing US$ 665.49 million. It is projected to garner US$ 2,250.93 million by 2030 to expand at 16.5% CAGR from 2023 to 2031.

Based on country, the Europe genetic testing services market is categorized into the UK, Germany, France, Spain, Italy, and the Rest of Europe. Our regional analysis states that Germany captured 23.1% share of Europe genetic testing services market in 2023. It was assessed at US$ 242.61 million in 2023 and is likely to hit US$ 789.96 million by 2031, registering a CAGR of 15.9% during 2023–2031.

Key players operating in the genetic testing services market are Eurofins Scientific SE, Exact Sciences Corp, Laboratory Corp of America Holdings, 23andMe Holding Co, Ambry Genetics Corp, Quest Diagnostics Inc, Illumina Inc, F. Hoffmann-La Roche Ltd, NeoGenomics Inc, Centogene NV, Ancestry Genomics Inc, Gene By Gene Ltd, SIVOTEC BioInformatics LLC, Progenesis, Fulgent Genetics, Inc, VERITAS INTERCONTINENTAL, and GeneDx, LLC. among others.   

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