CHICAGO , July 8, 2024 /PRNewswire/ -- The global DNA diagnostics market is poised for substantial growth, projected to reach USD 21.2 billion by 2029, up from USD 13.3 billion in 2024, with a compound annual growth rate (CAGR) of 9.
7%. Key drivers include technological advancements in DNA diagnostics, rising demand for personalized medicine, and early disease detection in developing nations. Major market players like Illumina, F.
Hoffmann-La Roche Ltd., and Abbott Laboratories are heavily investing in research and development, enhancing diagnostic capabilities. However, ethical concerns surrounding privacy and the emergence of alternative diagnostic technologies pose challenges.
Opportunities lie in advancements in bioinformatics and artificial intelligence, revolutionizing genomic analysis and enabling more precise healthcare solutions. The market is segmented by offering (reagents & kits leading in CAGR), application (oncology testing driving growth), technology (sequencing technology at highest CAGR), specimen (blood, serum, and plasma dominate), and end-user (diagnostic laboratories hold largest share). North America currently leads the market, followed by Europe , with the Asia Pacific expected to witness the highest growth, driven by increasing healthcare expenditure and advanced infrastructure.
.