UnitedHealth Report: Spending On Genetic Tests To Rise Sharply In A Decade

Genetic tests could become a $25 billion market by 2021. Currently, spending on these tests is estimated at $5 billion annually.

Los Angeles Times: Spending On Genetic Tests Is Forecast To Rise Sharply by 2021
Spending on genetic tests has reached $5 billion annually and could top $25 billion within a decade, according to an insurance industry study published Monday. The rise in spending is likely to intensify the debate over genetic testing as policymakers and employers struggle to contain spiraling healthcare costs (Terhune, 2/12).

Bloomberg: Genetic Tests To Generate $25 Billion A Year, UnitedHealth Says
Genetic tests may become a $25 billion annual market in the U.S. within a decade, highlighting the need to identify which exams work the best, insurer UnitedHealth Group Inc. (UNH) said. A majority of the 1,800 DNA tests developed to identify or manage medical conditions still haven’t been studied enough to prove their effectiveness, UnitedHealth, the biggest U.S. insurer by sales, said in a report today. The technology generated $5 billion in 2010, the insurer said, and three to five new tests are being introduced each month (Nussbaum, 3/12).

This is part of Kaiser Health News' Daily Report - a summary of health policy coverage from major news organizations. The full summary of the day's news can be found here and you can sign up for e-mail subscriptions to the Daily Report here. In addition, our staff of reporters and correspondents file original stories each day, which you can find on our home page.