Europe Genetic Testing Services Market Forecast to 2030
Europe Genetic Testing Services Market Forecast to 2030 – Regional Analysis – by Service Type (Predictive Testing, Carrier Testing, Prenatal Testing, Newborn Screening, and Others), Disease (Cancer, Metabolic Diseases, Cardiovascular Diseases, and Other Diseases), and Service Provider (Hospital-Based Laboratories, Diagnostic Laboratories, and Others)
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Description
Increasing Awareness and Acceptance of Personalized Medicines Drive Europe Genetic Testing Services Market
Personalized medicine is the field that utilizes patients’ genetic and environmental data to deliver optimal healthcare. It is based on the principle that every patient is unique and requires individualistic pharmacological treatment. Since it is a rapidly evolving area, it is presently incorporated into several healthcare systems. The successful completion of the Human Genome Project (HGP) in 2003 and the fast-decreasing human genome sequencing costs encouraged the development of a new medical approach, which is called personalized medicine. With an expanding repository of personalized data at the molecular level, molecular diagnostics companies are exceptionally positioned to unlock value. Large-scale drug discovery is a key to increasing the viability and usefulness of personalized medicines for the diagnosis of diseases and disorders. Genomics is one of the fastest-growing divisions of medical science. It is driving a paradigm shift in the research methodology of a disease, as well as diagnosing and treating illness. Genetic testing has been extensively used in pharmacogenomics, also known as drug-gene testing. It helps in accelerating drug discovery and its development. France also developed a national plan for personalized medicine known as “Genomic Medicine France 2025.” The program was presented to Prime Minister Manuel Valls by Yves Lévy, President of the National Alliance for Life and Health Sciences—Aviesan and CEO of Inserm, in June 2016. It appeals to healthcare and manufacturing firms to pilot genomic sequencing platforms. The plan was supported by the government and launched with a public financing of US$ 760.8 million (€670 million) in 2020 for genomics and personalized medicine programs. It is expected to place France as a leader among countries involved in genomic medicine within the next ten years. In January 2023, The Human Genome Project is ensuring an era of personalized healthcare. Now, new research shows that precision prescribing using genetic testing has ultimately reached a global tipping point for adoption. Published by Cambridge University Press, the peer-reviewed research examines the maturation of critical factors required for the use of clinical genetics at scale. These advancements pave the way for supporting genome-informed clinical decision-making to be established as the new standard of care. Genetically informed prescribing offers one of the realistic mechanisms to successfully reduce the overall costs of the healthcare system and improve individual patient care. Genetic testing encourages the adoption of a personalized medicine approach by understanding the science behind the disease, the impact of treatment, and the development of therapies for specific individual characteristics. It also helps healthcare personnel make informed decisions about disease diagnosis, treatment, and prevention by utilizing genetic testing results, leading to improved patient outcomes.
Europe Genetic Testing Services Market Overview
European genetic testing services market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Genetic testing has been growing at an exceptional rate; a large panel of tests are now offered to screen a number of genetic diseases. Treatments are available for a number of rare genetic diseases, and the process is gaining importance in scenarios such as carrier testing, newborn screening, and predictive and pre-symptomatic testing, among others. Moreover, European countries have undertaken a number of initiatives to increase awareness among people about the benefits of genetic testing. The ultimate goal is to ensure that all aspects of genetic testing are of high quality, thereby providing accurate and reliable results for the benefit of the patients.
Europe Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Million)
Europe Genetic Testing Services Market Segmentation
The Europe genetic testing services market is categorized into service type, disease, service provider, and country.
Based on service type, the Europe genetic testing services market is segmented predictive testing, carrier testing, prenatal testing, newborn screening, and others. The predictive testing segment held the largest market share in 2022.
In terms of disease, the Europe genetic testing services market is categorized into cancer, metabolic diseases, cardiovascular diseases, and other diseases. The cancer segment held the largest market share in 2022.
By service provider, the Europe genetic testing services market is segmented into hospital-based laboratories, diagnostic laboratories, and others. The hospital-based laboratories segment held the largest market share in 2022.
By country, the Europe genetic testing services market is segmented into the UK, Germany, France, Spain, Italy, and the Rest of Europe. Germany dominated the Europe genetic testing services market share in 2022.
Eurofins Scientific SE, Exact Sciences Corp, Laboratory Corp of America Holdings, 23andMe Holding Co, Quest Diagnostics Inc, Illumina Inc, F. Hoffmann-La Roche Ltd, NeoGenomics Inc, and Centogene AG are among the leading companies operating in the Europe genetic testing services market.
Summary Info
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According to the Research Team’ research, the Europe genetic testing services market was valued at US$ 931.11 million in 2022 and is expected to reach US$ 2,778.42 million by 2030, registering a CAGR of 14.6% from 2022 to 2030. Growing preference for direct-to-consumer (DTC) genetic testing and increasing awareness and acceptance of personalized medicines are among the critical factors attributed to drive the Europe genetic testing services market growth.
Personalized genetic testing and treatment have long been used globally to help individuals and families learn more about hereditary diseases. Most of the time, genetic testing is done through healthcare personnel, such as genetic counselors. Healthcare providers decide which test is needed, order the test from a test center, collect and send the DNA sample, read the test results, and share the results with the patient. Thus, these tests have traditionHally been ordered and interpreted in a clinical or medical research setting. In contrast, DTC genetic testing has witnessed tremendous growth in the past decade and is becoming increasingly widespread. A genetic test offered, advertised, and sold by companies directly to the consumer, without the direct involvement of a conventional healthcare system, is called DTC genetic testing. DTC genetic testing is relatively new and helps people find out about the disease-associated genes they may carry without the need for a prescription or guidance from a genetic counselor or medical practitioner. Several consumers of DTC testing view it as another method of gathering medical information about themselves. Unlike other genetic tests performed in clinics or hospitals, the consumer independently initiates and completes a DTC genetic test. The public understanding and acceptance of genetic testing is gradually increasing. Additionally, there is a rise in consumers seeking customized products and experiences for the identification and addressing of unique needs. The launch of innovative products and the increase in the adoption of DTC genetic testing kits have made genetic testing more accessible to people. These kits enable users to undergo personalized health management within the comfort of their homes. Key industry players are also developing DTC genetic tests and implementing special marketing efforts that positively impact sales of DTC tests. A rising number of manufacturers are providing direct-to-consumer genetic testing that covers various health conditions and traits. The increasing demand for direct-to-consumer genetic testing products to learn about the genetic makeup and assess the risk of developing hereditary conditions for early disease detection or prevention drives the market.
On the contrary, social and ethical implications of genetic testing hampers the growth of Europe genetic testing services market.
Based on service type, the Europe genetic testing services market is segmented predictive testing, carrier testing, prenatal testing, newborn screening, and others. The predictive testing segment held 38.9% market share in 2022, amassing US$ 362.50 million. It is projected to garner US$ 1,185.45 million by 2030 to register 16.0% CAGR during 2022–2030.
In terms of disease, the Europe genetic testing services market is categorized into cancer, metabolic diseases, cardiovascular diseases, and other diseases. The cancer segment held 45.3% share of Europe genetic testing services market in 2022, amassing US$ 421.40 million. It is anticipated to garner US$ 1,362.63 million by 2030 to expand at 15.8% CAGR during 2022–2030.
By service provider, the Europe genetic testing services market is segmented into hospital-based laboratories, diagnostic laboratories, and others. The hospital-based laboratories segment held 63.4% share of Europe genetic testing services market in 2022, amassing US$ 590.51 million. It is projected to garner US$ 1,903.84 million by 2030 to expand at 15.8% CAGR from 2022 to 2030.
By country, the Europe genetic testing services market is segmented 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 2022. It was assessed at US$ 215.28 million in 2022 and is likely to hit US$ 668.15 million by 2030, registering a CAGR of 15.2% during 2022–2030.
Key players operating in the Europe genetic testing services market are Eurofins Scientific SE, Exact Sciences Corp, Laboratory Corp of America Holdings, 23andMe Holding Co, Quest Diagnostics Inc, Illumina Inc, F. Hoffmann-La Roche Ltd, NeoGenomics Inc, and Centogene AG, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Europe genetic testing services market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe genetic testing services market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Genetic Testing Services Market – Key Industry Dynamics
4.1 Key Market Drivers
4.1.1 Rising Prevalence of Genetic Diseases
4.1.2 Increasing Awareness and Acceptance of Personalized Medicines
4.1.3 Growing Preference for Direct-To-Consumer (DTC) Genetic Testing
4.2 Market Restraints
4.2.1 Social and Ethical Implications of Genetic Testing
4.2.2 Affordability of Genetic Services
4.3 Market Opportunities
4.3.1 Rising Demand for Pharmacogenomics
4.4 Future Trends
4.4.1 Artificial Intelligence-Powered Genetic Testing
4.5 Impact Analysis:
5. Genetic Testing Services Market – Europe Market Analysis
5.1 Europe Genetic Testing Services Market Revenue (US$ Mn), 2022 – 2030
6. Europe Genetic Testing Services Market – Revenue and Forecast to 2030 – by Service Type
6.1 Overview
6.2 Europe Genetic Testing Services Market Revenue Share, by Service Type, 2022 & 2030 (%)
6.3 Predictive Testing
6.3.1 Overview
6.3.2 Predictive Testing: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
6.4 Carrier Testing
6.4.1 Overview
6.4.2 Carrier Testing: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
6.5 Prenatal Testing
6.5.1 Overview
6.5.2 Prenatal Testing: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
6.6 Newborn Screening
6.6.1 Overview
6.6.2 Newborn Screening: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
6.7 Others
6.7.1 Overview
6.7.2 Others: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
7. Europe Genetic Testing Services Market – Revenue and Forecast to 2030 – by Disease
7.1 Overview
7.2 Europe Genetic Testing Services Market Revenue Share, by Disease, 2022 & 2030 (%)
7.3 Cancer
7.3.1 Overview
7.3.2 Cancer: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Cardiovascular Diseases
7.4.1 Overview
7.4.2 Cardiovascular Diseases: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Metabolic Diseases
7.5.1 Overview
7.5.2 Metabolic Diseases: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
7.6 Other Diseases
7.6.1 Overview
7.6.2 Other Diseases: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
8. Europe Genetic Testing Services Market – Revenue and Forecast to 2030 – by Service Provider
8.1 Overview
8.2 Europe Genetic Testing Services Market Revenue Share, by Service Provider, 2022 & 2030 (%)
8.3 Hospital-Based Laboratories
8.3.1 Overview
8.3.2 Hospital-Based Laboratories: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Diagnostic Laboratories
8.4.1 Overview
8.4.2 Diagnostic Laboratories: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
9. Europe Genetic Testing Services Market – Country Analysis
9.1 Europe
9.1.1 Europe Genetic Testing Services Market, by Country
9.1.1.1 UK
9.1.1.1.1 Overview
9.1.1.1.2 UK Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
9.1.1.1.3 UK Genetic Testing Services Market, by Service Type, 2020–2030 (US$ Million)
9.1.1.1.4 UK Genetic Testing Services Market, by Disease, 2020–2030 (US$ Million)
9.1.1.1.5 UK Genetic Testing Services Market, by Service Provider, 2020–2030 (US$ Million)
9.1.1.2 Germany
9.1.1.2.1 Overview
9.1.1.2.2 Germany: Europe Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
9.1.1.2.3 Germany: Europe Genetic Testing Services Market, by Service Type, 2020–2030 (US$ Million)
9.1.1.2.4 Germany: Europe Genetic Testing Services Market, by Disease, 2020–2030 (US$ Million)
9.1.1.2.5 Germany: Europe Genetic Testing Services Market, by Service Provider, 2020–2030 (US$ Million)
9.1.1.3 France
9.1.1.3.1 Overview
9.1.1.3.2 France Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
9.1.1.3.3 France Genetic Testing Services Market, by Service Type, 2020–2030 (US$ Million)
9.1.1.3.4 France Genetic Testing Services Market, by Disease, 2020–2030 (US$ Million)
9.1.1.3.5 France Genetic Testing Services Market, by Service Provider, 2020–2030 (US$ Million)
9.1.1.4 Italy
9.1.1.4.1 Overview
9.1.1.4.2 Italy Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
9.1.1.4.3 Italy Genetic Testing Services Market, by Service Type, 2020–2030 (US$ Million)
9.1.1.4.4 Italy Genetic Testing Services Market, by Disease, 2020–2030 (US$ Million)
9.1.1.4.5 Italy Genetic Testing Services Market, by Service Provider, 2020–2030 (US$ Million)
9.1.1.5 Spain
9.1.1.5.1 Overview
9.1.1.5.2 Spain Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
9.1.1.5.3 Spain Genetic Testing Services Market, by Service Type, 2020–2030 (US$ Million)
9.1.1.5.4 Spain Genetic Testing Services Market, by Disease, 2020–2030 (US$ Million)
9.1.1.5.5 Spain Genetic Testing Services Market, by Service Provider, 2020–2030 (US$ Million)
9.1.1.6 Rest of Europe
9.1.1.6.1 Overview
9.1.1.6.2 Rest of Europe Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
9.1.1.6.3 Rest of Europe Genetic Testing Services Market, by Service Type, 2020–2030 (US$ Million)
9.1.1.6.4 Rest of Europe Genetic Testing Services Market, by Disease, 2020–2030 (US$ Million)
9.1.1.6.5 Rest of Europe Genetic Testing Services Market, by Service Provider, 2020–2030 (US$ Million)
10. Genetic Testing Services Market–Industry Landscape
10.1 Overview
10.2 Growth Strategies in Genetic Testing Services Market
10.3 Organic Growth Strategies
10.3.1 Overview
10.4 Inorganic Growth Strategies
10.4.1 Overview
11. Company Profiles
11.1 Eurofins Scientific SE
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Exact Sciences Corp
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Laboratory Corp of America Holdings
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 23andMe Holding Co
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Quest Diagnostics Inc
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Illumina Inc
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 F. Hoffmann-La Roche Ltd
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 NeoGenomics Inc
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Centogene AG
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. Appendix
12.1 About Us
12.2 Glossary of Terms
LIST OF TABLES
Table 1. Europe Genetic Testing Services Market Segmentation
Table 2. UK Genetic Testing Services Market, by Service Type – Revenue and Forecast to 2030 (US$ Million)
Table 3. UK Genetic Testing Services Market, by Disease – Revenue and Forecast to 2030 (US$ Million)
Table 4. UK Genetic Testing Services Market, by Service Provider – Revenue and Forecast to 2030 (US$ Million)
Table 5. Germany: Europe Genetic Testing Services Market, by Service Type – Revenue and Forecast to 2030 (US$ Million)
Table 6. Germany: Europe Genetic Testing Services Market, by Disease – Revenue and Forecast to 2030 (US$ Million)
Table 7. Germany: Europe Genetic Testing Services Market, by Service Provider – Revenue and Forecast to 2030 (US$ Million)
Table 8. France Genetic Testing Services Market, by Service Type – Revenue and Forecast to 2030 (US$ Million)
Table 9. France Genetic Testing Services Market, by Disease – Revenue and Forecast to 2030 (US$ Million)
Table 10. France Genetic Testing Services Market, by Service Provider – Revenue and Forecast to 2030 (US$ Million)
Table 11. Italy Genetic Testing Services Market, by Service Type – Revenue and Forecast to 2030 (US$ Million)
Table 12. Italy Genetic Testing Services Market, by Disease – Revenue and Forecast to 2030 (US$ Million)
Table 13. Italy Genetic Testing Services Market, by Service Provider – Revenue and Forecast to 2030 (US$ Million)
Table 14. Spain Genetic Testing Services Market, by Service Type – Revenue and Forecast to 2030 (US$ Million)
Table 15. Spain Genetic Testing Services Market, by Disease – Revenue and Forecast to 2030 (US$ Million)
Table 16. Spain Genetic Testing Services Market, by Service Provider – Revenue and Forecast to 2030 (US$ Million)
Table 17. Rest of Europe Genetic Testing Services Market, by Service Type – Revenue and Forecast to 2030 (US$ Million)
Table 18. Rest of Europe Genetic Testing Services Market, by Disease – Revenue and Forecast to 2030 (US$ Million)
Table 19. Rest of Europe Genetic Testing Services Market, by Service Provider – Revenue and Forecast to 2030 (US$ Million)
Table 20. Recent Organic Growth Strategies in Genetic Testing Services Market
Table 21. Recent Inorganic Growth Strategies in the Genetic Testing Services Market
Table 22. Glossary of Terms, Genetic Testing Services Market
LIST OF FIGURES
Figure 1. Europe Genetic Testing Services Market Segmentation, By Country
Figure 2. Europe Genetic Testing Services Market – Key Industry Dynamics
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Europe Genetic Testing Services Market Revenue (US$ Mn), 2022 – 2030
Figure 5. Europe Genetic Testing Services Market Revenue Share, by Service Type, 2022 & 2030 (%)
Figure 6. Predictive Testing: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 7. Carrier Testing: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Prenatal Testing: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Newborn Screening: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Others: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Europe Genetic Testing Services Market Revenue Share, by Disease, 2022 & 2030 (%)
Figure 12. Cancer: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Cardiovascular Diseases: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Metabolic Diseases: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Other Diseases: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Europe Genetic Testing Services Market Revenue Share, by Service Provider, 2022 & 2030 (%)
Figure 17. Hospital-Based Laboratories: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Diagnostic Laboratories: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Others: Europe Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. Europe Genetic Testing Services Market, by Key Country – Revenue, 2022 (US$ Million)
Figure 21. Europe Genetic Testing Services Market, By Key Countries, 2022 and 2030 (%)
Figure 22. UK Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
Figure 23. Germany: Europe Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
Figure 24. France Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
Figure 25. Italy Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
Figure 26. Spain Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
Figure 27. Rest of Europe Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
Figure 28. Growth Strategies in Genetic Testing Services Market
The List of Companies – Europe Genetic Testing Services Market
o Eurofins Scientific SE
o Exact Sciences Corp
o Laboratory Corp of America Holdings
o 23andMe Holding Co
o Quest Diagnostics Inc
o Illumina Inc
o F. Hoffmann-La Roche Ltd
o NeoGenomics Inc
o Centogene AG
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