Asia Pacific Genetic Testing Services Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Asia Pacific genetic testing services market size is expected to reach US$ 2550.10 million by 2031 from US$ 728.38 million in 2023. The market is estimated to record a CAGR of 17.0% from 2023 to 2031.

Executive Summary and Asia Pacific Genetic Testing Services Market Analysis:

The genetic testing services market in the Asia Pacific (APAC) region is witnessing rapid growth, driven by increasing healthcare investments, technological advancements, and rising awareness of genetic disorders. Countries like China, India, Japan, and South Korea are seeing a surge in demand for genetic testing, particularly for cancer diagnosis, prenatal screening, and rare genetic diseases. The expansion of personalized medicine, along with improvements in genomic research, is further fueling market growth. Additionally, government initiatives to enhance healthcare infrastructure and promote genetic research are expected to support continued market development. The presence of major players is also driving innovation and accessibility in the region.

Asia Pacific Genetic Testing Services Market Strategic Insights

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Asia Pacific Genetic Testing Services Market Segmentation Analysis

Key segments that contributed to the derivation of the genetic testing services market analysis are service type, disease, and service provider.

• By service type, the genetic testing services market is segmented into predictive testing, carrier testing, prenatal testing, newborn screening, diagnostic genetic testing, and others. The predictive testing segment held the largest share of the market in 2023.
• By disease, the genetic testing services market is segmented into cancer, cardiovascular diseases, metabolic diseases, and other diseases. The cancer segment held the largest share of the market in 2023.
• By service provider, the genetic testing services market is segmented into hospital-based laboratories, diagnostic laboratories, and other service provider. The hospital-based laboratories segment held the largest share of the market in 2023.

Asia Pacific Genetic Testing Services Market Outlook

The prevalence of genetic diseases is rising across the world and impacting the health of people at a severe level. Genetic diseases show many symptoms that are uncommon and are mostly non-curable. Most of the genetic diseases are rare and are developed due to the mutation in the genetic makeup of the people. According to The World Health Organization (WHO) 2021, 10 out of every 1,000 people are affected by single-gene diseases, signifying that 70 million and 80 million people worldwide are living with any one type of single-gene disease. As per the Global Genes, ~7,000 known rare diseases and disorders have been identified worldwide, and more are being discovered every year.

According to the University of Sheffield research, ~300 million people are living with genetic diseases around the world. In 2022, a report by MJH Life Sciences (US) estimated that 300,000 newborns worldwide are born with sickle cell disease every year, accounting for ∼5% of the global population

In Asia Pacific and the Middle East, a very large population is diagnosed with genetic diseases due to consanguineous marriage favored in many communities. Marriages between relatives are the major concern for the rising prevalence of genetic diseases. Thus, the rising prevalence of genetic diseases fuels the demand for genetic testing, which in turn drives genetic testing services market growth.

Asia Pacific Genetic Testing Services Market Country Insights

Based on country, the Asia Pacific genetic testing services market comprises China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China held the largest share in 2023.

Over the past few years, there has been a significant rise in awareness levels about the benefits of genetic testing in the country. Moreover, a rise in the availability of DTC tests has increased the convenience and accessibility of such tests, creating a positive impact on the growth of the market. In recent years, the country's scientists and authorities have highlighted how genetic material could be effectively utilized to study and treat diseases, develop pharmaceuticals and medical devices, and better understand how congenital disabilities are formed.

According to the study titled "Spotlight on Gene Therapy in China," published in July 2020, over 57 million people suffer from genetic diseases in the country, and ~4 million new cancer cases are recorded per year. According to the Global Cancer Observatory data, a total of 4,568,754 cancer cases were reported in 2020 in the country. According to the article titled "Rare Disease Day: why China's Rare Disease Burden Could be an Opportunity for Innovation," published in February 2023, ~20 million Chinese people suffer from rare diseases.

In October 2015, China stated that the iconic one-child policy had been exchanged for a universal two-child policy. This is anticipated to increase the number of children born yearly and create a positive impact on the demand for newborn genetic testing. In 2016, the Chinese Academy of Sciences initiated the Precision Medicine Initiative, a 14-year, US$ 9.2 billion project to sequence over 100 million human genomes by 2030. In July 2021, Chinese gene company BGI Group developed a prenatal test in collaboration with the country's military. It is used to collect genetic data from millions of women for sweeping research on the traits of people. BGI states that it stores and re-analyzes left-over blood samples and genetic data from the prenatal tests sold in nearly 52 countries to detect abnormalities such as Down syndrome in the baby. Therefore, the factors mentioned above are expected to propel the genetic testing services market growth in China.

Asia Pacific Genetic Testing Services Market Report Highlights

Asia Pacific Genetic Testing Services Market Company Profiles

Some of the key players operating in the market include 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. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Asia Pacific Genetic Testing Services Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

Business Market Insights’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Asia Pacific Genetic Testing Services Market Country and Regional Insights