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).