A recent report published by Infinium Global Research on genetic counseling market provides in-depth analysis of segments and sub-segments in the global as well as regional genetic counseling market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional genetic counseling market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global genetic counseling market. According to the report, the global genetic counseling market is projected to grow at a CAGR of 14.92% over the forecast period of 2020-2027.

Market Insight

Genetic counseling market was valued at USD 1,320 million in 2020 and expected to reach USD 3,450 million in 2027, with a CAGR of 14.92% during the forecast period. Genetic counseling involves communication and education that addresses diagnosis, management and prognosis, estimation and communication of risks, and explaining reproductive options. Counseling affected individuals and families having affected children with an inherited disorder. Genetic counselors work as members of a health care team, providing information and support to families with congenital disorders. An increasing and diversified client population trends will lead to changes in both genetic service delivery systems and the development of alternative models of the genetic counseling process itself. The practice of genetic counseling is going to be impacted by the public's expectation that goods, services, information, and experiences happen on-demand, wherever and whenever people want them.

The rapid rise in the number of genetic counselors' workforce is driving the global genetic counseling market. Genetic counselors provide information and support to families which are at risk of or affected by a genetic disorder. They provide a central source of information about genetic disorders for other healthcare professionals, patients, and the general public. Furthermore, the rising demand for prenatal and preconception genetic support services in developed countries is fueling market growth. Prenatal genetic counseling is provided for all prospective parents to assess risk factors for congenital disorders, ideally before conception. It assists to take certain precautions to help prevent birth defects. However, lack of awareness about genetic counseling and limited reimbursement among major insurance providers restraining the growth of the market. Moreover, ongoing technological innovations, including improvements in lab tests and developments in genomics are expected to provide growth opportunities to the market players.

Among the geographies, North America holds the largest market share of the genetic counseling market. The U.S. currently dominates the market for genetic counseling and will witness robust growth during the forecast period. This is attributable to the rising prevalence of genetic diseases, highly advanced infrastructure to support genetic counseling, and technological advancements in the healthcare sector in the North American region. Europe holds the second-largest share in the genetic counseling market owing to the growing awareness about the benefits of genetic counseling. Asia-Pacific is the fastest-growing region in the genetic counseling market. The increasing advancements in technology, increasing investments by several foreign players and the growing healthcare sector in this region contributes to the growth of the genetic counseling market.

Segment Covered

The report on global genetic counseling market covers segments such as counseling approach, type of service, and application. On the basis of counseling approach, the sub-markets include integrated, discretionary, and independent. On the basis of type of service, the sub-markets include risk assessment, pharmacogenomics, and other genetic counseling services. On the basis of application, the sub-markets include proactive risk assessment, GC for intent-to-treat patients (ITT), prenatal and preconception care, pediatric care, and other genetic counseling applications.

Companies Profiled:

The report provides profiles of the companies in the market such as Invitae Corporation, Quest Diagnostics Incorporated, Arup Laboratories, Genome Medical, Laboratory Corporation of America, GeneMatters, EasyDNA, AT-GC, Biron Health Group, MyOncoPath, and GeneDx.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of genetic counseling market. Moreover, the study highlights current market trends and provides forecast from 2020-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.