Dublin, Dec. 29, 2021 (GLOBE NEWSWIRE) -- The "DTC (Direct to Consumer) DNA Test Kits Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The global DTC DNA Test Kits Market is anticipated to grow with a CAGR of nearly 24% during the forecast period.
The major factors attributing to the growth of this market are increasing demand for paternity testing, rising prevalence of hereditary diseases, and rise in interest of consumers & physicians in DTC kits & consequent rise in sales of DNA test kits.
Furthermore, the growing number of laboratories researching the DNA kits for gynecological purposes is also a major factor that drives the market growth. For instance, the National Congenital Anomaly and Rare Disease Registration Service has stated that around 3 to 6% of babies worldwide are born with a congenital anomaly every year, this increases the need for the prenatal testing for anomalies. The difficulty in understanding the results of the kits and very less information about the companies selling the kits are restraining the growth of the market.
Furthermore the market is largely penetrating towards new research fields of medicine and healthcare as such the innovation of probes for preimplantation, prenatal, and postnatal genetic testing research drives the overall market growth.
Demand for Ancestry Testing Expected to Increase
The increasing number of people who are interested in knowing their ancestors and family tree increases the demand for DTC DNA test kits, especially in developing countries.
The increasing number of companies such as 23andMe are found to offer various DNA kits that are helpful in ancestry testing. Developed countries are also witnessing the high demand for such products as awareness about such technologies is higher.
North America Dominates the Market
North America is expected to dominate the overall DTC DNA test kits market, throughout the forecast period. The growth is due to factors such as the growing prevalence of congenital anomalies and increasing government initiatives for genetic diagnosis. In the North America region, the United States holds the largest market share due to factors such as high disposable income, and easy acceptance of such kits in the country is expected to increase the demand in this region.
However, Asia Pacific is anticipated to be the fastest-growing market due to the increasing awareness programs and developments undertaken by government bodies to accelerate genetic research in Asian countries. The Asia Pacific will proliferate at a speedy rate due to rapid technological updates in the healthcare sector.
The market studied is moderately competitive and consists of few major players. Growing biotech industry is augmenting the rise in new entrants in this market. It is believed that there will be penetration of the few small to mid sized companies in this market.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Paternity Testing
4.2.2 Increasing Number of Hereditary Diseases
4.2.3 Rise in Interest of Consumers & Physicians in DTC Kits & Consequent Rise in Sales of DNA Test Kits
4.3 Market Restraints
4.3.1 Lack of Awareness and Proper Genetic Counselling
4.3.2 Regulatory Challenges Pertaining to the Use of DTC Genetic Tests
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Sample Type
5.1.2 Cheek Swab
5.2 By Application
5.2.1 Genetic Relatedness
5.2.2 Health & Fitness
5.2.3 Ancestry Testing
5.2.4 Other Applications
5.3.1 North America
5.3.4 Middle East and Africa
5.3.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Ancestry.com LLC
6.1.3 MyHeritage Ltd.
6.1.4 Gene by Gene
6.1.5 Living DNA Ltd.
6.1.6 Helix OpCo, LLC
6.1.7 Veritas Genetics
6.1.8 Futura Genetics
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/awgt0i
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