Genetic Counseling Market Research Report: Forecast (2023-2028)
Genetic counseling is a specialized area of healthcare that involves providing information, support, & guidance to individuals and their family members who may be at risk of or have a history of genetic disorders. Its primary objective is to assist individuals & families in comprehending the genetic aspects associated with their health conditions, such as the risk factors, inheritance patterns, as well as the potential consequences on their lives.
Market Insights & Analysis: Global Genetic Counseling Market (2023-28)
The Global Genetic Counseling Market is estimated to grow at a CAGR of around 11.5% during the forecast period, i.e., 2023-28. The market observed notable growth in the past few years, backed by the rising prevalence of genetic & rare diseases worldwide, often resulting from chromosomal abnormalities & environmental factors, thereby emphasizing the need for genetic counseling services.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Regions Covered||North America: US, Canada, Mexico|
|Europe: Germany, The UK, France, Spain, Italy, Rest of Europe|
|Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific|
|South America: Brazil, Argentina, Rest of South America|
|Middle East & Africa: UAE, Saudi Arabia, Qatar, Egypt, South Africa, Rest of the Middle East & Africa|
|Key Companies Profiled||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|
|Unit Denominations||USD Million/Billion|
Also, in 2020, the World Economic Forum reported approximately 475 million people were affected by rare diseases with nearly 30% of affected children dying before reaching the age of 5. This alarming statistic heightened the significance of genetic counseling in facilitating early detection & intervention for patients and, consequently, benefitted the market.
Furthermore, several genetic disorders like Down’s syndrome, Cleft lip & palate, Tay-Sachs disease, etc., have become largely prevalent in recent years, owing to which parents have been self-inclining toward prenatal testing services to identify any possibility of diseases in their fetuses.
For this, parents prefer to undergo genetic counseling before proceeding with the testing, mainly to make informed decisions about the type of test they need to opt for. Hence, the demand for such services is upscaling dramatically and, in turn, creating new avenues for the Global Genetic Counseling Market to witness notable expansion in the years to come.
Global Genetic Counseling Market Driver
Rising Cases of Genetic Deformities in Pregnancies: The increasing number of cases involving genetic deformities in pregnancies has positively impacted the Global Genetic Counseling Market. There are growing concerns among individuals over the health & well-being of their newborns, along with an increased incidence of mortality linked with genetic deformities in newborns. For instance:
These concerns lead parents to opt for improved prevention. Genetic counselors allow patients to identify hereditary or chromosomal deformities in fetuses, such as Down syndrome & Edward syndrome. Detecting these conditions enable clinicians to provide better treatment & care. Thus, as genetic mortality cases rise, the need for genetic counselors is likely to surge and spur growth in the Global Genetic Counseling Market in the coming years.
Global Genetic Counseling Market Growth Opportunity
Growing Use of Telehealth & Remote Genetic Counseling among Patients: In recent years, the healthcare sector has improved largely in terms of technology adoption, offering a high level of convenience to its consumers. Also, the adoption of telehealth services has surged considerably among healthcare providers in the past few years. This majorly ascribes to technological advancements, such as the advent of digital tools for sharing genetic information, electronic health records (HER), & secure video conferencing platforms, which have enhanced the adoption of telemedicine in genetic counseling.
Also, remote genetic counseling services are more feasible & efficient and facilitate effective communication & information exchange between patients and counsellors. Consequently, as more companies launch their telehealth programs, their adoption would accelerate and create lucrative prospects for the genetic counseling market in the coming years.
Global Genetic Counseling Market Challenge
Lack of Genetic Literacy among Consumers: With a lack of basic information & comprehension of genetics, genetic testing, and the effects of genetic disorders among consumers, the market has experienced a negative impact on growth in the previous years. Owing to this, there has been a lack of understanding of the potential advantages of genetic counseling and how it can contribute to individualized treatment. Also, as most consumers, especially across Africa, Asia, & Latin America, do not have an understanding of genetics, it leads to their inability to actively participate in decision-making processes. Consequently, this also prevents the adoption of genetic counseling services among consumers, leading to the suppression of the market.
Global Genetic Counseling Market Trend
Growing Inclination towards Precision Medicine: In recent years, precision medicine has gained traction as healthcare professionals & hospitals have increasingly adopted these personalized medicines for early disease detection & mitigate the risk of genetic diseases. These tailored therapies & precision medicine enable the identification of an individual's genetic response to medications, assisting healthcare professionals in making personalized decisions regarding the most appropriate drugs and optimal dosages for each patient. As a result, more hospitals are integrating the approach of treating patients with precision medicine rather than the conventional therapies for diseases like cancer, Alzheimer's disease, etc. Moreover, this precision medicine requires the genetic data of the patients. Therefore, the surge in the demand for tailored therapies is enhancing the requirement for genetic counseling. Furthermore, a large number of hospitals across the world are integrating genetic counseling services into their offerings, especially for precision medicine. For instance:
Thus, this trend of integrating precision medicine with traditional treatments, aimed at improving patients' responses to therapies and medications, is expected to drive the expansion of the Global Genetic Counselling market in the upcoming years.
Global Genetic Counseling Market (2023-28): Segmentation Analysis
The Global Genetic Counseling Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment. It includes predictions for the period 2023–2028 at the global level. Based on the analysis, the market has been further classified as:
Based on Type of Service:
Pre-counseling support has been one of the most adopted services in the Global Genetic Counseling Market. With a growing awareness of the significant impact of genetic testing, more individuals are seeking pre-counseling services to understand its purpose, benefits, limitations, and potential outcomes. Hence, the increasing number of patients undergoing genetic testing to identify implications like cystic fibrosis, Huntington's disease, thalassemia, etc., is amplifying the demand for pre-counseling services. Further, the enhanced adoption of pre-counseling support services by parents for prenatal & preconception care, reproductive planning, and family building is another prominent aspect promulgating the growth of the Global Genetic Counseling Market.
Based on Application:
Here, the demand for Genetic Counseling for Intent-to-Treat (ITT) patients has been upscaling over the past few years, mainly due to the rising instances of genetic diseases like muscular dystrophy, hereditary breast & ovarian cancer syndrome (BRCA mutations), Lynch syndrome, etc. For instance:
Hence, with the rising number of genetic disorders, there's an ever-increasing adoption of genetic counseling by ITT patients to receive interpretation & implications and personalized treatment options. Furthermore, the progress in genetic testing methods, such as NGS (next-generation sequencing) and chromosomal microarray analysis, is improving the identification of rare genomic and genetic disorders. This is driving market growth as consumers seek genetic counseling to better understand advanced technologies and make informed choices about the type of testing they need.
Global Genetic Counseling Market (2023-28): Regional Projections
Geographically, the Global Genetic Counseling Market expands across:
Of all regions globally, Asia-Pacific has been playing a significant role in the expansion of the Global Genetic Counseling Market. The region's growth is backed primarily by the rapidly expanding healthcare industry in India & China. These countries have witnessed substantial investments in healthcare infrastructure, creating lucrative opportunities for genetic counseling providers. The widespread adoption of genetic testing methodologies, supported by extensive research & development efforts, also contribute to the regional market growth. Further, China & India, with their large population bases, are witnessing decreasing costs of genetic testing techniques. This affordability, entwined with an increasing number of trials related to genetic disorders, would spur growth in the Asia-Pacific region in the coming years.
Global Genetic Counseling Market Recent Developments:
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Frequently Asked Questions
A. The Genetic Counseling Market is set to record around 11.5% CAGR during 2023-28.
A. The rising incidence of genetic deformities in pregnancy is the prime aspect expected to drive the Genetic Counseling Market during 2023-28.
A. The key players in the Global Genetic Counseling Market include 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, and My Gene Counsel.
A. Pre-counseling support is the leading type of service in the Genetic Counseling Market.
A. Asia-Pacific region would present growth prospects in the Genetic Counseling Market during 2023-28.
A. The growing demand for precision medicine is the key trend shaping the growth of the Genetic Counseling Market.
A. The use of telehealth and remote genetic counseling among patients is the growth opportunity driving the Genetic Counseling Market through 2028.
A. The lack of genetic literacy among consumers is a key restraint to the growth of the Genetic Counseling Market.
A. Healthcare Providers are the major end users of the Global Genetic Counseling Market.
Global Genetic Counseling Market Research Report (2023-2028) - Table of Contents