The global Direct-to-Consumer Genetic Testing market is anticipated to grow at a significant rate owing to raid advancements and technological developments in the sector. The report offers strategic recommendations to the businesses and investors to capitalize on the lucrative growth opportunities of Direct-to-Consumer Genetic Testing market. It also covers mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, agreements, and partnerships, among others. It also offers insights into the manufacturing processes, revenue estimations, R&D advancements, and industrial penetration of Direct-to-Consumer Genetic Testing market.
The global Direct-to-Consumer Genetic Testing Market is forecasted to reach USD 3.33 Billion by 2027, according to a new report by Emergen Research. Increasing genetic disease incidence would fuel competition for direct-to-consumer genetic testing and accelerate market development across the expected timeframe. Increasing cases of hereditary disorders such as breast cancer, achondroplasia, colorectal cancer and other diseases have increased the need for cost-effective and reliable avenues of genetic testing in the healthcare industry. For reference, according to the World Cancer Research Fund (WCRF), more than 2 million new cancer cases were reported globally in 2018. Breast cancer is now considered to be the second most prevalent disease. The introduction of a superior standard and innovative direct-to-consumer genetic testing has significantly lowered mortality levels of people with cancer by maintaining diligence surveillance data even before the onset of the disease. The preceding conditions would, therefore, accelerate the demand for direct-to-consumer genetic testing to reverse the timetable for the prediction.
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As well as new entrants in the Direct-to-Consumer Genetic Testing market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others.
Key participants include 23andMe, Full Genome Corporation, Color Genomics, Genesis Healthcare, Helix OpCo LLC, FamilyTreeDNA, MyHeritage, Identigene, Pathway genomics, and Living DNA, among others.
One of the report’s central components is the broad Direct-to-Consumer Genetic Testing market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report.
Based on test type, carrier testing generated a revenue of USD 139.21 million in 2019 and believed to rise with a CAGR of 13.2% in the forecast period, as it is used to determine if an individual is a carrier of particular recessive autosomal diseases, utilized by fertility planners who help them to predict the chances of genetic defects transmitted by their offspring.
The over-the-counter channel expected to grow with a CAGR of 12.8% in the forecasted period due to the convenience of purchasing a test kit for customers residing in developed world rural areas, as enforcement authorities inspect them individually to make them easier to purchase.
The single nucleotide polymorphism chips application is the major contributor to the Direct-to-Consumer Genetic Testing Market. The single nucleotide polymorphism chips application of the North America region is the major shareholder of the market and held around 47.7% of the market in the year 2019, as it can detect different changes in a separate letter to enhance further test performance.
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The global Direct-to-Consumer Genetic Testing market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Direct-to-Consumer Genetic Testing sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
For the purpose of this report, Emergen Research has segmented into the global Direct-to-Consumer Genetic Testing market based on the test type, distribution channel, application, and region:
Test Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
Ancestry & Relationship Testing
Distribution Channel Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
Single Nucleotide Polymorphism Chips (SNP)
Whole Genome Sequencing (WGS)
Regional Bifurcation of the Direct-to-Consumer Genetic Testing Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Direct-to-Consumer Genetic Testing market?
What are the key product types and applications of the Direct-to-Consumer Genetic Testing industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
What is the competitive landscape of the Direct-to-Consumer Genetic Testing market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
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