Genetic Testing Market
The North American genetic testing market was worth $6.96 billion in 2018. Carrier testing and newborn screening hold the largest share of this market. They both have an aggregate share of 38%.
Genetic Testing Market: North America
- The global market size for genetic testing was $11.8 billion in 2018 and is forecast to reach $25 billion in 2025 based on an 11.9% compound annual growth rate.
- North America (the US and Canada) has a 59% share of this market. This means its market size is $6.96 billion (0.59*11.8 million).
North American Market by Type
- By type, carrier testing has the largest share of the North American genetic testing market. Its share of the market is about 30%. As a result, it is worth $2.1 billion (0.30*$6.96 bn).
- Newborn screening has a 23% share of the market. This means its market size is $1.6 billion.
- Diagnostic testing has a 15% share of the market, making its market size $1.04 billion.
- Prenatal testing has a 12% share of the market. Its market size is $835 million.
- Predictive and presymtomatic testing has a 10% share of the market. Its market size is $696 billion.
- Nutrigenomic testing has a 10% share of the market, making its market size $696 billion.
In order to determine the genetic testing market size in the US by type, we first relied on industry reports by market research platforms such as Globenewswire and Allied Market Research. While these reports offered data on the global testing market, no data specific to the US was found in them. They simply mentioned that the US has a significant share of the market. They also mentioned the market share of North America in general.
Next, we turned to news articles published by industry-related websites like Science Mag. Although these websites offered statistics on the US genetic testing market- such as the number of genetic tests in the US, they mentioned nothing about what the US genetic testing market is worth; neither did they offer any breakdown of the market by type. We proceeded to review professional social media sites like LinkedIn. Sometimes, professionals on LinkedIn share market reports on this platform. This was a dead end as we only found shared reports on mergers and acquisitions in the US genetics testing market. Another approach we took was combing through data intelligence resources including Statista. We tried finding any chart on the countries with the most market share in the global genetics testing market (this was done under the assumption that the US might be one of these countries). Again, this was unfruitful. Statista only offered data on the number of people who did DNA tests in the US in 2018.
We attempted triangulating the requested data. The first step was to figure out if the US genetic testing industry was consolidated or fragmented. If it was consolidated, this would mean a few companies control the market and thus, we could find the revenues of these companies, add them up, and estimate the market size. On the other hand, a fragmented industry would mean no company has a large enough share in the market and the above triangulation would be impractical to do. Despite scouring news and market reports, there was no mention of whether the US genetics testing market is fragmented or consolidated. Nonetheless, we tried reviewing the annual reports of key players in the US genetics testing industry in order to add up the revenues of these companies. However, we soon found that large companies such as Abbott Laboratories only provide aggregate figures on their annual reports. Seeing as a lot of them had other businesses or segments and catered to other countries, adding up their total revenues would have led to an exaggerated market size. Some of these companies are also private. While third party portals like Hoovers had revenue figures, they were not segmented by region or country. Therefore, this was also a futile triangulation attempt.
As a result, we expanded our search to North America in general. Please note that market reports consider North America as the US and Canada alone. Our findings and calculations have been presented above.