Global Market for Direct-to-Consumer (DTC) Genetic Testing
Dublin, June 24, 2022 (GLOBE NEWSWIRE) -- The "Direct-to-Consumer (DTC) Genetic Testing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Direct-to-Consumer (DTC) Genetic Testing Market to Reach US$1.9 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Direct-to-Consumer (DTC) Genetic Testing estimated at US$971.7 Million in the year 2020, is projected to reach a revised size of US$1.9 Billion by 2026, growing at a CAGR of 12.3% over the analysis period.
Ancestry & Relationship Testing, one of the segments analyzed in the report, is projected to grow at a 9.8% CAGR to reach US$915.4 Million by the end of the analysis period.
Growth in the global is being driven by new technological advances and rising prevalence of many genetic disorders such as diabetes, cancer, cystic fibrosis, and Alzheimer`s disease globally. Factors such as real time drug discovery, cutting-edge diagnostic methods, and advanced treatments will propel market growth.
Increasing user awareness, disposable income, and healthcare expenditure combined with rising adoption of customized medicine to treat genetic disease are other factors driving growth in the market. Public awareness regarding the availability of DTC genetic testing in developing as well as developed countries is continually rising.
Leading market players like Ancestry and 23andMe are focusing on offering high-quality DTC genetic testing solutions that ensure accurate and effective test results. Growing awareness among Europeans and Americans regarding racial testing is also driving market demand.
Another key driver in the DTC genetic testing market includes elderly consumers who take a keen interest in their healthcare, which is intensified by access to genetic test kits that can detect genes whose variations are associated with an increased risk of developing an age-related disease such as Alzheimer`s.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nutrigenomics Testing segment is readjusted to a revised 13.6% CAGR for the next 7-year period. This segment currently accounts for a 21% share of the global Direct-to-Consumer (DTC) Genetic Testing market.
The U.S. Market is Estimated at $440.2 Million in 2021, While China is Forecast to Reach $149.8 Million by 2026
The Direct-to-Consumer (DTC) Genetic Testing market in the U.S. is estimated at US$440.2 Million in the year 2021. The country currently accounts for a 43% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$149.8 Million in the year 2026 trailing a CAGR of 15.2% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.3% and 13.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.6% CAGR while Rest of European market (as defined in the study) will reach US$170.8 Million by the end of the analysis period.
The US dominates market growth due to the increased awareness about genetic diseases among general populace, growing tendency among general public to identify early and either prevent or provide management of various chronic diseases as well as technical and scientific advancements made in the field of medicine and science in general.
Additionally, the regulatory mechanism in the US is relatively better streamlined compared to other markets. Europe represents the next leading market for DTC genetic testing. The market is fueled by increasing healthcare spending by various governments to ensure easy access to advanced genetic tests.
Predictive Testing Segment to Reach $373.2 Million by 2026
The predictive testing market is recording strong growth, driven by exponential growth in the number of diseases and medical conditions that are identifiable through genetic modalities, surging from a mere 90-100 diseases in the early 1990s, to about 1,800 to 2,000 conditions in the present day.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
A Prelude to Genetic Testing
Top Ten Genetic Diseases Worldwide
Different Types of Genetic Tests include
List of Genetic Disorders by Event, Genetic Manifestation and Prevalence
Direct-to-Consumer (DTC) Genetic Testing - Global Key Competitors Percentage Market Share in 2022 (E)
A Prelude to Direct-to-Consumer (DTC) Genetic Testing
Pros and Cons of Direct-to-Consumer (DTC) Genetic Testing
Health Information provided by DTC genetic Tests
DTC Genetic Tests' Limitations
Impact of Covid-19 on Market Prospects of DTC Genetic Testing Companies
Market Prospects and Outlook
US and Europe Dominate the Global DTC Genetic Tests Market
Ancestry Testing Holds Major Share, Predictive Testing Witnesses Rapid Growth
Recent Market Activity
Changing Landscape of DTC Genetic Testing
Regulations to Determine Market Viability
US FDA Regulations for DTC Genetic Testing
Data Privacy Concerns to Challenge Market Prospects
2. FOCUS ON SELECT PLAYERS (Total 81 Featured)
Any Lab Test Now
Color Health, Inc.
Direct Laboratory Services, LLC
DNA Diagnostics Center
Full Genomes Corporation, Inc.
Gene by Gene, Ltd.
Helix OpCo LLC
Laboratory Corporation of America Holdings
Mapmygenome India Limited
Positive Bioscience, Inc.
Quest Diagnostics, Inc.
Request A Test, Ltd.
Sonora Quest Laboratories LLC
Xcode Life Sciences
3. MARKET TRENDS & DRIVERS
Consumers Self-Managing Treatments: The New Trend Driving the DTC Genetic Testing Market
DTC Genetic Testing Players Join War against COVID-19
DTC Genetic Tests for Cancer Susceptibility
Advances in Genome Sequencing
Next-Generation Sequencing (NGS) Aids DTC Genetic Testing Market
DTC Genetic Testing Presents Lucrative Personalization Opportunities
Growing Focus on Service Personalization Generates Opportunities for DTC Genetic Tests
Immense Popularity of Ancestry Testing
Emergence of DNA-based Nutrition Plans Put the Spotlight on DTC Nutrigenetics Testing
Biomarker Discovery Leads to Advanced Genetic Testing
Select List of Available Tumor Markers
Hybrid Approach of Genetic Testing to Bridge Gap Between Traditional and DTC Models
Oncology - A Key Focus Area for Genetic Testing
Ageing Demographics to Drive Demand for Genetic Testing
Increased Demand for Online Sales of DTC Genetic Tests
Use of Artificial Intelligence Adds Value to DTC Genetic Testing Market
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/ao4uw5
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