The genetic testing services market is growing rapidly as healthcare embraces precision medicine and preventive care. These services include predictive risk assessments, carrier screening, pharmacogenomic profiling, oncology panels, and ancestry testing. Fueling this growth are technological breakthroughs like next-generation sequencing (NGS) and whole-exome sequencing, reduced testing costs, rising genetic disorder prevalence, and expanding direct-to-consumer (DTC) access. North America leads the market, while Asia-Pacific shows the quickest expansion. With continued innovation, increased patient awareness, and supportive genomic initiatives, genetic testing is becoming a cornerstone of modern diagnostics and personalized healthcare.
According to Fortune Business Insights, the global genetic testing market was valued at USD 33.82 billion in 2024. The market is projected to grow from USD 37.32 billion in 2025 to USD 76.09 billion by 2032, exhibiting a CAGR of 10.7% during the forecast period. In 2024, North America dominated the genetic testing market with a market share of 41.72%.
In May 2023, Laboratory Corporation of America (Labcorp) entered into a strategic agreement with Jefferson Health. The partnership is expected to enhance the capacity and scope of specialty genetic testing services—and aligns with the market's growing demand.