Genetic Testing Markets 2027–2031

Genetic Testing Markets: Market Forecast, Competitive Landscape, Technology and Policy Outlook, 2027–2031

Global forecasts by application, technology, sample type, customer and product, for 14 countries and regions, with 48 company profiles.

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Our Take

Genetic testing volumes keep growing at double-digit rates, but the price of each test is now the main battleground. Medicare is resetting laboratory rates to private-payer medians, private payers are tightening prior authorisation, and prenatal testing is packing more answers into one blood draw. The market grows from $28,300 million in 2026 to $49,000 million in 2031, at 11.6% a year. NGS takes over from PCR test by test, but routine genome sequencing of healthy people is still at least five years away.

Market Size 2026: USD $28.3B Market Size 2031: USD $49.0B CAGR: 11.6%

Situation Analysis: what is really happening

• Medicare is resetting lab prices. CMS's preliminary 2027 rates cut lab payments by about 16% on average, with genomic sequencing codes about 23% lower, capped at 15% a year from 2027 to 2029.
• Private payers squeeze the price per test. Myriad cut its 2026 revenue guidance to $770–790 million as hereditary cancer volumes rose 8% but revenue fell 13%, and Quest's revenue per requisition fell 4.2%.
• Prenatal testing moves into one blood draw. Myriad's FirstGene, BillionToOne's expanded UNITY tests and Natera's Fetal Focus add more answers to a single maternal sample.
• Newborn screening has a new decision process. HHS added Duchenne muscular dystrophy and MLD to the US panel, and HRSA funded a national workgroup to review new conditions.
• Rules on genetic data are tightening. The DOJ bulk data rule, Rhode Island's Genetic Information Privacy Act and China's draft rules limit who may hold and move genetic data.
• Cancer and pregnancy drive the market. Oncology and prenatal testing take more than half of all new spending, and NGS rises from 38.5% to 46.5% of the market.

Company Analysis: who is positioned, who is exposed

• Quest Diagnostics and Labcorp: Growing volumes fast but facing lower revenue per test.
• Natera, BillionToOne and Myriad: Compete to put more prenatal answers into one blood draw.
• Guardant, Exact Sciences (Abbott), Foundation Medicine and Tempus: Lead the oncology testing that adds the most new dollars.
• Revvity, Baebies and dried blood spot suppliers: Serve the newborn screening programmes now adding conditions.
• Illumina, Thermo Fisher, Roche and Qiagen: Supply the NGS and PCR platforms as NGS takes share.

In all, 48 company profiles, each one to two pages with a fact box covering website, headquarters, ownership, revenue, employees and key products.

Questions this report answers

• How fast will newborn, prenatal, hereditary, oncology, consumer and pharmacogenomic testing grow?
• What will Medicare's 2027 to 2029 rate cuts and tighter private payers do to laboratory revenue?
• How fast will NGS replace PCR, arrays and cytogenetics?
• When will genome sequencing become routine care, and what will make it happen?
• Who are the leading laboratories and suppliers, and who is buying whom?
• How large is each country market, and how fast is China growing?

What's inside

• 304 pages, 23 chapters, 71 tables and 52 figures
• Forecasts for 2027–2031 from a 2026 base year, by application, technology, sample type, customer and product, for 14 countries and regions
• Newborn screening, prenatal, NIPT and reproductive testing, predictive, carrier and hereditary testing, and oncology testing
• Direct-to-consumer and pharmacogenomics, the technology landscape, regulation, reimbursement and policy, and laboratory economics
• 10 market-moving developments from 2025 and 2026, SWOT, Porter's Five Forces and strategic recommendations
• 48 company profiles
• Download the Table of Contents (PDF)

Who buys this report

• Laboratory executives and business development teams: size test markets and plan for lower prices per test.
• Diagnostic platform and reagent companies: plan products for the shift from PCR and arrays to NGS.
• Investors and analysts: assess volume growth, payer pressure and consolidation.
• Public health programmes and health systems: plan newborn, prenatal and hereditary testing.

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ABOUT THE LEAD AUTHOR

Mr. Greg Powell, B.Sc., M.B.A., is the President of Howe Sound Research. His education includes:

Finance for Senior Executives - Harvard Business School

Market Research - Burke Institute

M.B.A. (Finance and Policy) - University of British Columbia

B.Sc. (Chemistry) - University of British Columbia

He is an experienced business and clinical professional. He is co-author of the paper "The Radioimmunoassay of Angiotensinogen by Antibody Trapping." He has worked in laboratory testing and management for over 20 years.