Press Release Description

Rising Cases of Genetic Deformities in Pregnancies Fuels the Genetic Counseling Market Growth

A recent research report by MarkNtel Advisors cites that the Global Genetic Counseling Market is set to record around 11.5% CAGR during 2023-28, mainly driven by the growing prevalence of genetic deformities in pregnancies. Individuals are becoming increasingly concerned about the health & well-being of their fetuses, as well as the elevated mortality rates associated with genetic deformities in infants. Consequently, this has heightened concerns among parents for the health & safety of their newborns, leading to a greater emphasis on preventive measures.

Genetic counseling has emerged as one of the most widely embraced services, backed by consumers' increased awareness of the implications of genetic testing. With a growing understanding of the potential risks associated with genetic changes that could lead to severe consequences in the future, the demand for genetic counseling has increased significantly in recent years.

Prior to undergoing genetic testing, individuals now seek pre-testing counseling to gain a comprehensive understanding of the test's purpose, benefits, limitations, and potential outcomes. As more patients opt for genetic testing services to identify implications like cystic fibrosis, Huntington's disease, & thalassemia, among others, genetic counselling would witness a notable surge in its demand over the coming years and, in turn, contribute to market growth, further states the research report, “Global Genetic Counseling Market Analysis, 2023.”

Enhanced Adoption of Genetic Counseling for Intent-to-Treat (ITT) Patients to Boost the Market

The demand for genetic counselling for ITT patients has experienced a significant increase in recent years, primarily due to the rising prevalence of genetic diseases like muscular dystrophy, hereditary breast, and ovarian cancer syndrome (BRCA mutations), & Lynch syndrome, among others. As a result, it has prompted individuals to seek genetic counselling for ITT patients to gain insights into the interpretation & implications of their conditions and personalized treatment options.

Furthermore, advancements in genetic testing techniques, notably the development of next-generation sequencing and chromosomal microarray analysis, have revolutionized the detection of structural & numerical abnormalities in chromosomes, enabling the identification of various rare genomic & genetic disorders. Consequently, consumers prefer genetic counselling to comprehend the requirements and potential outcomes of these technologies and make informed decisions about the specific testing they should undergo.

Globally, the Asia-Pacific Genetic Counseling Market is Experiencing Decent Growth

During 2018-23, Asia-Pacific has notably contributed to the expansion of the Genetic Counseling Market globally, owing to rapid advancements in the healthcare industry, particularly in India & China. Notably, these nations have experienced significant investments in the development of healthcare infrastructure, creating highly lucrative opportunities for genetic counseling providers. The positive market outlook for Asia-Pacific has also been supported by the extensive adoption of genetic testing methodologies, i.e., backed by extensive R&D efforts. Furthermore, a considerable decrease in the costs of genetic testing techniques in China and India has enhanced consumer affordability and triggered awareness of genetic disorders, i.e., another prominent aspect contributing to the Asia-Pacific Genetic Counseling Market growth.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Invitae Corporation, Quest Diagnostics Incorporated, Arup Laboratories, Genome Medical, Laboratory Corporation of America, Easy DNA, Biron Health Group, GeneDx, BGI Group, Neuberg Center for Genomic Medicine (NCGM), Lilac Insights, Metis Genetics, Veritas Intercontinental, Grey Genetics, LLC, My Gene Counsel and others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the globe?
  4. How has the industry been evolving in terms of geography & service adoption?
  5. How has the competition been shaping across various regions?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?