DUBLIN, Nov. 7, 2022 /PRNewswire/ -- The "Global Direct-To-Consumer Genetic Testing Market By Test Type, By Technology chips, Targeted Analysis, Whole Genome Sequencing, By Sample, By Distribution Channel, By Region Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Direct-To-Consumer (DTC) Genetic Testing Market stood at USD 1,254.69 million in 2021 and is expected to grow at a CAGR of 8.97% during the forecast period.
The rising prevalence of rare genetic diseases is expected to drive the market expansion. Rising demand for personalized genetic services, as well as increased public awareness around the world, are expected to aid market growth. The Direct-To-Consumer (DTC) genetic testing industry is fragmented, with a few dominant players and other small start-up companies offering superior quality Direct-To-Consumer (DTC) genetic tests at lower costs, which will address affordability issues and positively impact the market growth. The COVID-19 pandemic boosted the direct-to-consumer genetic testing market.
During the pandemic, technological advancements have paved the way for new business opportunities in direct-to-consumer genetic testing. The rise in the prevalence of chronic diseases, as well as the introduction of personalized testing kits for niche therapeutic areas, are assisting in the rapid expansion of direct-to-consumer genetic testing. Such service adoption and change has increased demand for such kits. The availability of these kits on online platforms will also have a positive impact on the market statistics.
Rising demand for personalized direct-to-consumer genetic testing services will boost the market expansion
The growing popularity of pharmacogenetics will benefit the statistics of the direct-to-consumer genetic testing industry. Pharmacogenetics is a well-known example of gene-based personalization, in which genetic polymorphisms dictate the choice of medicinal treatment that benefits business momentum.
Furthermore, consumer comprehension is used to evaluate and regulate personalized tests. The service provider provides descriptive information about the analytical and clinical validity of the tests, which increases the demand in the industry. These personalized tests are also less expensive than traditional genetic tests. Furthermore, personalized direct-to-consumer genetic test results can be obtained quickly using simple and non-invasive methods. These previously mentioned factors will propel the overall market share.
Increasing use of Genetic Information across the Healthcare Industry will augment the market progress
The ancestry & relationship testing segment will account for approximately 32% of the market in 2021, as costs for genetic ancestry tests have decreased in recent years, thereby increasing demand. In addition, interest in ancestry tests has grown dramatically in developed countries, including the United States, which adds to the segmental momentum. Ancestry testing, also called genetic genealogy, allows people to learn about their family history through historical documentation. It provides clues about an individual's ancestors among people of similar backgrounds by examining DNA variations.
FamilyTreeDNA, for example, offers Family Finder DNA tests to find DNA matches and family connections. This also aids in determining ancestry history by comparing DNA to DNA from archaeological dig sites. As a result, ancestry and relationship testing are becoming more popular.
North America contributing to the Market Growth
North America's industry acquired around 44% of the market in 2021 and is expected to grow significantly in the coming years. Rising public awareness of direct-to-consumer genetic tests is attributed to high growth in the United States and Canada. Furthermore, increased internet use among residents in densely populated areas of the countries will benefit the market expansion. Similarly, a simplified regulatory process in the region will spur market growth.
The US Food and Drug Administration, for example, streamlines regulations and ensures that tests are analytically and clinically valid without the involvement of a healthcare intermediary. All these factors contribute to an increase in demand for direct-to-consumer genetic testing.
Rising public awareness and consumer empowerment will support market growth
A national survey found that awareness of genetic testing in the United States increased from 31% to 38% between 2007 and 2014, and a social media survey found that 47% of users were familiar with the Direct-To-Consumer (DTC)-GT concept. The shift from passive to empowered customers has created opportunities for businesses to respond in a variety of sectors, including genetic testing. Direct-To-Consumer (DTC)-inherent GT's accessibility is a significant benefit, allowing consumers free access to their own genetic information as well as personalized insights and recommendations.
A sense of empowerment is a key driver of Direct-To-Consumer (DTC)-GT adoption; 80% of early adopters of Direct-To-Consumer (DTC)-GT services report a sense of empowerment from their results and "curiosity" as a primary motivation. As a result, 90% of Direct-To-Consumer (DTC)-GT firms use the emotional appeal of 'empowerment' in their marketing strategies.
23andMe, Inc., Ancestry.com, LLC, Color Health, Inc., Helix OpCo LLC, Counsyl., My Heritage., Living DNA, Mapmygenome india Limited, Full Genomes Corporation, Direct Laboratory Services, LLC are among the major market players in the Global Direct-To-Consumer (DTC) Genetic Testing Market.
Key Topics Covered:
1. Service Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Direct-To-Consumer (DTC) Genetic Testing Market
5. Voice of Customer
5.1. Prevalence of Genetic Disorders, By Gender
5.2. Prevalence of Genetic Disorders, By Region
5.3. Commonly Observed Genetic Disorders
5.4. Factors Contributing Switch to Direct-To-Consumer (DTC) Genetic Testing
5.5. Barriers to Adoption of Direct-To-Consumer (DTC) Genetic Testing
6. Global Direct-To-Consumer (DTC) Genetic Testing Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Test Type (Ancestry & Relationship Testing, Predictive Testing, Nutrigenomic Testing, Carrier Testing, Skincare Testing, Others)
6.2.2. By Technology (Single Nucleotide Polymorphism (SNP) chips, Targeted Analysis, Whole Genome Sequencing (WGS), Others)
6.2.3. By Sample (Saliva, Urine, Blood, Others)
6.2.4. By Distribution Channel (Online v/s Offline)
6.2.5. By Region
6.2.6. By Company (2021)
6.3. Market Map
7. North America Direct-To-Consumer (DTC) Genetic Testing Market Outlook
8. Europe Direct-To-Consumer (DTC) Genetic Testing Market Outlook
9. Asia-Pacific Direct-To-Consumer (DTC) Genetic Testing Market Outlook
10. Middle East and Africa Direct-To-Consumer (DTC) Genetic Testing Market Outlook
11. South America Direct-To-Consumer (DTC) Genetic Testing Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
14.1. 23andMe, Inc.
14.2. Ancestry.com, LLC
14.3. Color Health, Inc.
14.4. Helix OpCo LLC
14.6. My Heritage
14.7. Full Genomes Corporation, Inc.
14.8. Living DNA
14.9. Mapmygenome India Limited
14.10. Direct Laboratory Services, LLC
15. Strategic Recommendations
16. About the Publisher & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/ej18wb
Research and Markets
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