Private Equity
Andrea Alms Video: Money In Motion 92 - Genetic Testing Market
January 2024 - Private Equity
TRANSCRIPT Hello, my name is Andrea Alms I am a technology investor and financial manager. And this is your money in motion. I was asked about genetic testing market. According to Grandview research, the global genetic testing market was valued at $7.4 billion in 2022 and expected to expand at a compound average growth rate of 22% from 2023 to 2030. Factors such as increasing awareness of newborn screening, the rising prevalence of genetic disorders, or are directly impacting the market growth.
For instance, according to the American Association for Clinical Chemistry in the U.S., newborn screening programs assess children for more than 60 diseases in the U.S. Recommended Uniform Screening Panel consist of a list of disorders are recommended by the Department Health and Human Services mandating screening for certain genetic diseases, research and markets. The market size reached about 15.9 billion in 2022 and expected to reach 29 billion by 2028 at a growth rate of 10.37%.
At MMR, the market was 18.43 billion in 22, expected to grow to 39.73 billion by 2029 and growing at 11.6%. Averaging the averages, the market size is 13.9 billion at an average growth rate of 14.7%, multi-billion dollar market growing at double digit rate. Let's keep an eye on it. Thank you. This is your money, your money, in motion.