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Genetic Testing Markets' Rapid Growth
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Overview
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Genetic testing markets are experiencing significant growth, driven by advancements in technology, increasing interest in pharmacogenetics, and rising awareness about gene-based screening. The direct-to-consumer genetic testing market is projected to reach USD 1.93 billion by 2030, with a CAGR of 24.4% from 2024 to 2030. The global genetic testing market is projected to reach USD 16844 million by 2029, with a CAGR of 9.86% from 2024 to 2029. The genetic testing market is estimated at USD 19.66 billion in 2024, with a projected CAGR of 10.81% until 2029. Key market players are heavily investing in advertising to promote their products, with the online platform segment dominating the market in 2023.
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How can governments and regulatory bodies ensure data privacy and informed consent in the context of genetic testing?
How might the rapid growth of the genetic testing market impact healthcare systems and patient access to personalized medicine?
What are the potential ethical implications of increased genetic testing and the rising trend towards personalized medicine?
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