Dublin, Sept. 17, 2024 (GLOBE NEWSWIRE) — The “India Genetic Testing Market, By Region, Competition, Forecast & Opportunities, 2020-2030F” report has been added to ResearchAndMarkets.com’s offering.
India Genetic Testing Market was valued at USD 69.24 Million in 2024 and is anticipated to project impressive growth in the forecast period with a CAGR of 6.89% through 2030
The India Genetic Testing Market is primarily driven by several key factors. Increasing awareness and acceptance of genetic testing among the population for diagnosing various genetic disorders and diseases contribute significantly to market growth. Advancements in technology, such as next-generation sequencing and PCR techniques, have enhanced the accuracy and efficiency of genetic testing, further fueling market expansion.
The rising prevalence of chronic diseases and genetic disorders in India has also stimulated the demand for genetic testing services. Government initiatives and investments in healthcare infrastructure, coupled with a growing focus on personalized medicine, are fostering market growth. Overall, these factors collectively drive the India Genetic Testing Market toward sustained progression.
Expansion of Healthcare Infrastructure
The expansion of healthcare infrastructure, including the establishment of diagnostic laboratories and genetic counseling centers, is facilitating the growth of the genetic testing market in India. In recent years, there has been a significant increase in the number of healthcare facilities offering genetic testing services across the country, driven by both public and private investments in healthcare infrastructure. This expansion has improved access to genetic testing services for individuals residing in urban as well as rural areas, thereby contributing to market growth. As healthcare infrastructure continues to expand and become more accessible, the demand for genetic testing is expected to increase further, driving market expansion.
Rising Healthcare Expenditure
The rising healthcare expenditure in India is also contributing to the growth of the genetic testing market. As the Indian economy continues to grow and household incomes rise, there is a corresponding increase in healthcare spending by individuals and families. This increase in healthcare expenditure is fueling demand for advanced medical services, including genetic testing, as people prioritize preventive healthcare and early disease detection. The growing availability of health insurance coverage for genetic testing and related services is further driving market growth by making these services more affordable and accessible to a larger segment of the population.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $69.24 Million |
| Forecasted Market Value (USD) by 2030 | $103.7 Million |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | India |
Report Scope:
Key Market Players
- MedGenome Labs Limited
- Strand Life Sciences Pvt Ltd.
- Centogene India Private Limited
- Eurofins Genomics India Pvt Ltd.
- Mapmygenome India Limited
- Clevergene Biocorp Private Limited
- LifeCell International Pvt. Ltd.
- Genes2Me Pvt. Ltd.
- GeneTech India Private Limited
- DNA Forensics Laboratory Pvt. Ltd.
India Genetic Testing Market, By Type:
- Cytogenetic Testing
- Biochemical Testing
- Molecular Testing
India Genetic Testing Market, By Application:
- Reproductive Cancer Screening
- Ancestry Testing
- Predictive and Pre-symptomatic Testing
- Others
India Genetic Testing Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/tamt3d
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- Indian Genetic Testing Market
