Global Direct-to-Consumer (DTC) Genetic Testing market garnered revenue worth nearly 954.15 (USD Million) in 2019 and is set to record the CAGR of about 14.9% over the period from 2020 to 2026.
The global Direct-to-Consumer (DTC) Genetic Testing market garnered revenue worth nearly 954.15 (USD Million) in 2019 and is set to record the CAGR of about 14.9% over the period from 2020 to 2026. The report offers assessment and analysis of the Direct-to-Consumer (DTC) Genetic Testing market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Direct-to-consumer (DTC) genetic testing is referred to as genetic test that is sold directly to end-user through web, TV, or other marketing sites in the form of test kit without taking the Test Types of physicians or other healthcare Technologys. Moreover, these tests make use of next-generation sequencing technologies for testing the susceptibility of the consumers towards various kinds of ailments & traits.
Additionally, the breakthroughs in the genome sequencing technology have enabled DTC genetic testing firms to genotype many of the SNPs across gene with lesser costs. The improvements in genome sequencing technologies has sketched new paths for DTC genetic testing activities, thereby leading to creation of new firms such as 23andMe & Navigenics. Reportedly, these firms test people for myriad variants across gene related to complex disorders & usual traits.
Furthermore, there are wide array of tests available on internet. Some of the players of the Direct-to-consumer (DTC) genetic testing industry advertise tests for athletic ability and bitter taste insights. While other industry players highlight on healthcare-related products including carrier testing, testing for common ailment susceptibility, and pharmacogenomics testing.
In addition to this, many of the firms such as 23andMe and easyDNA UK offer susceptibility tests with latter offering predisposition DTC genetic testing for nearly 25 ailments such as atrial fibrillation, type 1 & type 2 diabetes, cancer, and multiple sclerosis.
Market Growth Factors
Direct-To-Consumer genetic tests offer information about genetic inclination towards a spectrum of disorders such as heart ailments, mental illness, diabetes, and Alzheimer. In addition to this, DTC genetic testing also offer information pertaining to genetic aspects that can affect the body reaction of the consumer to particular diet, pharmaceutical drugs, alcohol, and caffeine. Apparently, the tests also impart information about the genes that are related to eye color, athletic performance, and forms of male baldness. All these aforementioned factors are anticipated to accelerate the growth of Direct-To-Consumer (DTC) genetic testing market over the years to come.
Moreover, DTC testing provides a plethora of benefits to the end-users and are easily available at affordable prices. Additionally, consumer can order the testing kit online and hence the borders do not act as a barrier for the consumer to avail the Test Type. With the business witnessing rapid decline in the costs over the last few years, the of Direct-To-Consumer (DTC) genetic testing industry is likely to gain traction over the years ahead. All these aspects are expected to steer the surge in the Direct-To-Consumer (DTC) genetic testing market size over the forecast timeframe.
North America To Lead Overall Market Revenue Share Over 2020-2026
The regional market growth during the period from 2020 to 2026 is credited to altering view of end-users pertaining to genetic testing activities. Apart from this, rise in the per capita income in the countries like the U.S. and Canada has prompted the customers to expend more on direct-to-consumer genetic testing and the most prominent genetic tests being ancestral & nutrigenomics tests. This has resulted in rise in the interest and popularity of DTC genetic testing in the region, thereby leading to humungous growth of the market in the sub-continent.
Key participants profiled in the study include are Full Genomes, Pathway Genomics, MyHeritage, 23andMe, Ancestry, Genesis HealthCare, Family Tree DNA, Color, Helix, EasyDNA, Identigene, Karmagenes, MapMyGenome, and Living DNA.
The global direct-to-consumer (DTC) genetic testing market is segmented as follows:
By Test Type
The key growth drivers that will leverage the market growth include affordability & easy availability of test kits online coupled with the ability of the tests to provide information about genetic inclination towards a spectrum of disorders such as heart ailments, mental illness, diabetes, and Alzheimer to consumers.
The CAGR of the industry is expected to be nearly over 14.9% during the forecast timespan.
North American region will contribute remarkably towards the global market revenue share over the estimated timeline.
The key market participants include Full Genomes, Pathway Genomics, MyHeritage, 23andMe, Ancestry, Genesis HealthCare, Family Tree DNA, Color, Helix, EasyDNA, Identigene, Karmagenes, MapMyGenome, and Living DNA.