Dublin, Aug. 20, 2021 (GLOBE NEWSWIRE) -- The "Global Direct-to-Consumer Genetic Testing Market: Focus on Direct-to-Consumer Genetic Testing Market by Product Type, Distribution Channel, 15 Countries Mapping, and Competitive Landscape - Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
Global direct-to-consumer genetic testing market to be one of the growing markets, which is predicted to grow at a CAGR of 17.30% during the forecast period, 2021-2031.
The direct-to-consumer genetic testing market's growth has been primarily attributed to the major drivers in this market, such as the growing amount of direct-to-consumer genetic testing, increasing research funding in the field of molecular biology, and an increase in awareness and acceptance of personalized medicine on a global level.
However, genomic data protection, ethical and social issues, and lack of regulatory standards are some of the factors expected to restrain the market growth.
Decreased cost and time required for genetic sequencing have increased the acceptance of DTC genetic testing among consumers. DTC genetic testing companies offer these genetic tests to their consumers through online channels and over-the-counter (OTC) channels, which has made these tests easily accessible to consumers around the globe.
The market is favored by the increased research activities based on next-generation sequencing-based technologies. The technology has been segmented into targeted analysis, whole genome sequencing, and single nucleotide polymorphisms. The whole genome sequencing segment is expected to grow at the highest CAGR of 17.37% during the forecast period 2021-2031.
This increase is mainly attributed to a large number of research and development being conducted due to the COVID-19 pandemic and regulatory approvals gained by key companies for genetic health risks-based tests.
Within the research report, the market is segmented on the basis of product type, technology, distribution channel, and region. Each segment covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
With the increasing consumer awareness and intense market penetration, companies such as 23andme, Inc., Ancestry.com, LLC, and Color Genomics have become pioneers and significant competitors in this market.
Other key players in the market are 24Genetics, Easy DNA, DNAfit, and My Heritage Ltd., among others.
The increased demand for complex and custom sequencing techniques, rising genetic testing services, and growing research to treat and diagnose genetic and infectious diseases have opened opportunities for companies to expand their product portfolios, increase automation facilitation, and develop novel consumer genetics solutions by adopting different strategic approaches.
Key Topics Covered:
1 Product Definition
2 Market Scope
3 Research Methodology
4 Market Overview
4.1 Product Definition
4.1.1 Ancestry Tests
4.1.2 Health and Wellness Test
4.1.3 Entertainment Test
4.2 Direct-to-Consumer Genetic Testing Business Model
4.3 Future Potential
4.4 COVID-19 Impact: Global Direct-to-Consumer Genetic Testing Market
5 Global Direct-to-Consumer Genetic Testing Market Regulatory Landscape
5.1 Legal Requirements and Regulations
5.2 Regulation in North America
5.3 Regulation in Europe
5.4 Regulation in APAC
5.4.2 Regulation in Japan
6 Market Dynamics
6.1 Impact Analysis
6.1.1 Growing Number of Direct-to-Consumer Genetic Tests
6.1.2 Increase in Awareness and Acceptance of Personalized Medicines on a Global Level
6.1.3 Decreasing Cost of Sequencing
6.1.4 Increasing Research Funding in the Field of Molecular Biology
6.2 Market Restraints
6.2.1 Genomic Data Protection
6.2.2 Uncertain Regulatory Standards for Direct-to-Consumer Genetic Tests
6.2.3 Ethical and Social Issues
6.3 Market Opportunity
6.3.1 Massive Scope for Adoption of Genomic-Based Medicine in Emerging Nations
6.3.2 Capitalizing on the High Prevalence of Genetic Disorders
6.3.3 Growth in Emerging Nations
6.4 Key Trends
6.4.1 Curiosity Among Consumers
6.4.2 Increasing Public Awareness
6.4.3 Mushrooming Direct-to-Consumer Genetic Testing Services Market
6.4.4 Need for Precision Medicine
6.4.5 Hassle-Free Model
6.5 Key Strategies and Developments
6.5.1 Synergistic Activities
6.5.3 Product Launches and Expansions
6.5.4 Acquisitions and Mergers
6.6 Market Share Analysis
7 Global Direct-to-Consumer Genetic Testing Market (by Technology), $Million, 2020-2031
7.2 Targeted Analysis
7.3 Single Nucleotide Polymorphism (SNPs)
7.4 Whole Genome Sequencing (WGS)
8 Global Direct to Consumer Genetic Testing Market (by Distribution Channel), $Million, 2020-2031
8.1.1 Online Channel
8.1.2 Over-the-Counter (OTC) Channel
9 Global Direct-to-Consumer Genetic Testing Market (by Product Type), $Million, 2020-2031
9.2 Health and Wellness
9.2.1 Predictive Tests
9.2.2 Carrier Tests
9.2.3 Pharmacogenomics Tests
10 Global Direct-to-Consumer Genetic Testing Market (by Region), $Million, 2020-2031
11 Company Profiles
Chengdu Twenty-Three Rubik's Cube Biotechnology Co., Ltd.
Gene by Gene
Konica Minolta, Inc.
Laboratory Corporation of America Holdings
Myriad Genetics, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/14qxmi
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