Global Genetic Counseling Market (2019 to 2030) - Featuring Ancestry, Arup Laboratories & Biron Health Group Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Genetic Counseling Market: Focus on Counseling Approach, Key Players Type, Counseling Channel, Type of Service, Application, Target Population, Level of Service, Country Data and Competitive Landscape - Analysis and Forecast, 2019-2030" report has been added to ResearchAndMarkets.com's offering.

According to this report the global genetic counseling market was valued at $972.2 million in 2019 and is anticipated to grow over $4,079.3 million by 2030.

The global genetic counseling market is expected to grow at a double-digit compound annual growth rate in the forecast period 2020-2030, aided primarily by the impressive growth in the molecular diagnostics market.

Genetic Counseling is a communication process that intends to assist at-risk or affected individuals and families in understanding the disease risks, mode of transmission, and natural history of a genetic disorder. The approach also facilitates informed consent for genetic tests when required, in settings such as family planning and risk management services.

Traditionally, the genetic counseling support services had mainly been offered for settings such as indication risk assessment and other segments of prenatal/preconception, and pediatric risk care. However, with the advent of new players in the genetic counseling market, pharmacogenomic services and diagnostic counseling services have become an eminent part of current diagnostic and treatment practices. Several players, such as Genome Medical and MyOncoPath, are currently offering these services in the market. The entry of new players in the market, coupled up with increased innovation pertaining to cost mitigation and resource output maximization had transformed the market currently.

The existing market of genetic counseling is favored by multiple factors, which include rising government initiatives, coupled up with the general population's growing awareness pertaining to genetic conditions. Additionally, the increasing number of genetic counselors in both industry and hospital settings is also one of the key driving factors for the genetic counseling market.

Market Dynamics

Drivers

• Rapid Rise in Number of Genetic Counselors' Workforce
• Increasing Adoption of Inorganic Growth Strategies in the Market
• Rising Demand of Prenatal and Preconception Genetic Support Services in Major Geographies

Challenges

• Limited Reimbursement Among Major Insurance Providers
• Lack of Genetic Counselors

Opportunities

• Healthcare Costs Mitigation
• Expected Implementation of H.R. 3235 Bill in the U.S.
• Entry of New Genetic Counseling Platforms to Maximize Counselors' Productivity

Key Questions Answered in this Report:

1. What is genetic counseling? How different settings for genetic counseling has evolved over the centuries?
2. What are the major market drivers, challenges, and opportunities in the global genetic counseling market?
3. What was the global genetic counseling market size in terms of revenue in 2019? How is the market expected to evolve in the upcoming years? What is the expected market size in 2030?
4. How is each segment of the global genetic counseling market expected to grow during the forecast period between 2020 to 2030, and what revenue is expected to be generated by each of the segments by the end of 2030?
5. What are the developmental strategies implemented by the key players to sustain in the competitive market?
6. What is the growth potential of the global genetic counseling in several countries globally?
7. Which service segment among the four (proactive indication risk assessment, prenatal/preconception, pediatric, or pharmacogenomic) are offered by key players such as Integrated Genetics (Laboratory Corporation of America), InformedDNA, Genome Medical, Quest Diagnostics Incorporated, MyOncoPath, among others?
8. Which genetic counseling approach was leading the market in 2019 and is expected to dominate the market in 2030, and why?
9. Which application type is leading the market in 2019 and is expected to dominate the market in 2030 and why?
10. Which region dominated the global genetic counseling market in 2019, and what are the expected trends from each of the regions in the forecast period 2020-2030?

Companies Mentioned

• AT-GC
• Ancestry
• Arup Laboratories
• Biron Health Group
• Color Genomics
• EasyDNA
• GenPath Diagnostics (an Opko Health Company)
• GeneDX (an Opko Health Company)
• GeneHealth UK
• GeneMatters
• GeneScreen
• Genome Medical
• InformedDNA
• Invitae Corporation
• Laboratory Corporation of America
• Metis Genetics
• MyOncoPath
• Quest Diagnostics Incorporated
• Veritas Genetics

For more information about this report visit https://www.researchandmarkets.com/r/ckyu09