12-Jun-2020 | Zion Market Research
According to the report published by Zion Market Research analysts, the valuation of the global direct-to-consumer (DTC) genetic testing market in 2019 was around USD 954.15 million and is estimated to grow at a CAGR of about 14.9% during 2020–2026.
Some of the leading players actively participating in the direct-to-consumer (DTC) genetic testing market are 23andMe, Ancestry, Family Tree DNA, Color, Helix, EasyDNA, Full Genomes, Identigene, Karmagenes, Genesis HealthCare, MapMyGenome, MyHeritage, Pathway Genomics, and Living DNA. The major market players take up several approaches like acquisitions, mergers, and new product launches to hold their position in the market. Obtaining authorizations from regulatory authorities for new products is also expected to boost the revenue share of the companies. For example, 23andMe obtained foremost US FDA authorization in October 2018 for de novo technology used in pharmacogenomic tests.
Increasing Incidence Of Genetic Diseases To Surge Demand For Direct-To-Consumer Genetic Testing
The growth of the direct-to-consumer (DTC) genetic testing market is expected to be driven mainly by the increasing incidence of genetic diseases like Alzheimer’s and cystic fibrosis across the world. Recently built DTC genetic tests enables the customer to make out chance of developing a particular genetic disease. Thus, rising implementation of DTC genetic testing for recognition of genetic diseases and early disease detection is projected to drive market growth during the coming period. Further, growing need for personalized drugs to treat genetic diseases is also expected to fuel market growth during forecast period. Nevertheless, elevated pricing of DTC genetic testing kits might obstruct the market growth.
Based On Test Type, Predictive Testing Segment Expected To Witness Substantial Growth
Based on test type, the predictive testing segment is projected to witness a substantial growth during the years to come. This significant segmental expansion can be linked to the increasing incidence of genetic diseases. DTC genetic tests assist one to spot mutations that amplify the probability of developing particular disease precisely. Further, rising alertness about advantages of such presymptomatic testing has decreased the rate of mortality by allowing efficient disease management. All these factors are anticipated to drive the segmental growth further boosting the market growth during the forecast period.
Europe Expected To Show A Lucrative Growth Graph During The Forecast Period
In 2018, the direct-to-consumer (DTC) genetic testing market in North America registered about 38% regional share. The growth is this region is mainly driven by the rising incidence of genetic diseases. Critical and crucial monitoring is needed for rare genetic diseases like hemophilia, anemia, and thalassemia. Further, Europe is also projected to witness substantial growth in the coming period. European direct-to-consumer (DTC) genetic testing market is extremely synchronized and for conducted some genetic tests with the use of DTC kits, consumers are needed to have prescription of physician. Nevertheless, at present, European authorities are functioning on enhancing rule set for the DTC tests as a result of enhanced efficiency and accuracy possessed by them. Thereby, these favorable conditions are likely to boost the regional market growth.
Browse the full “Global Direct-to-Consumer (DTC) Genetic Testing Market - By Technology (Single Nucleotide Polymorphism (SNP) Chips, Targeted Analysis, and Whole Genome Sequencing (WGS)), By Test Type (Predictive Testing, Carrier Testing, Nutrigenomics Testing, and Ancestry & Relationship Testing), and By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/direct-to-consumer-genetic-testing-market
The global direct-to-consumer (DTC) genetic testing market is segmented as follows:
By Test Type
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