Global Direct-to-Consumer Genetic Testing Market Report to 2027
DUBLIN, November 7, 2022 /PRNewswire/ — The “Global Direct-to-Consumer Genetic Testing Market by Test Type, by Technology Chip, Targeted Analysis, Whole Genome Sequencing, by Sample, by Distribution Channel, by Region, Forecast and Competitive Opportunity, 2027” report has been added to from ResearchAndMarkets.com offer.
The global direct-to-consumer (DTC) genetic testing market was $1,254.69 million in 2021 and is expected to grow at a CAGR of 8.97% over the forecast period.
The growing prevalence of rare genetic diseases is expected to drive the expansion of the market. Growing demand for personalized genetic services, along with increased public awareness across the globe, is expected to drive the market growth. The Direct-To-Consumer (DTC) genetic testing industry is fragmented, with a few dominant players and other small start-ups offering high-quality Direct-To-Consumer (DTC) genetic testing at lower cost, which will solve affordability issues and have a positive impact on market growth. The COVID-19 pandemic has driven the direct-to-consumer genetic testing market.
During the pandemic, advances in technology have paved the way for new business opportunities in direct-to-consumer genetic testing. The rise in the prevalence of chronic diseases, along with the introduction of custom test kits for niche therapeutic areas, is contributing to the rapid expansion of direct-to-consumer genetic testing. Such adoption and shift in service has increased the demand for such kits. The availability of these kits on online platforms will also have a positive impact on market statistics.
Growing demand for personalized direct-to-consumer genetic testing services will drive market expansion
The growing popularity of pharmacogenetics will benefit statistics from 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 drug therapy that benefits business dynamics.
Additionally, consumer understanding is used to evaluate and regulate custom testing. The service provider provides descriptive information on 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. In addition, personalized direct-to-consumer genetic test results can be obtained quickly using simple, non-invasive methods. These previously mentioned factors will propel the overall market share.
The increasing use of genetic information in the health industry will increase the progress of the market
The ancestry and relationship testing segment will account for approximately 32% of the market in 2021, as the costs of genetic ancestry testing have been declining in recent years, thereby increasing demand. In addition, interest in ancestry testing has increased dramatically in developed countries, including United States, which adds to the segmental momentum. Ancestry testing, also called genetic genealogy, allows people to know their family history through historical documentation. It provides clues to an individual’s ancestry among people of similar origins by examining variations in DNA.
FamilyTreeDNA, for example, offers Family Finder DNA tests to find DNA matches and family connections. It also helps determine ancestry history by comparing DNA to DNA from archaeological dig sites. As a result, ancestry and relationship tests are becoming increasingly popular.
North America contribute to market growth
North America the 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 testing attributed to strong growth United States and Canada. Also, the increased usage of internet among the residents of densely populated areas of the countries will benefit the expansion of the market. Likewise, a streamlined regulatory process in the region will drive the growth of the market.
The US Food and Drug Administration, for example, is streamlining regulations and ensuring that tests are analytically and clinically valid without the involvement of a healthcare intermediary. All of these factors are contributing to an increase in demand for direct-to-consumer genetic testing.
Increased public awareness and consumer empowerment will support market growth
A national survey found that knowledge of genetic testing in United States rose from 31% to 38% between 2007 and 2014, and a social media survey found that 47% of users were aware of the Direct-To-Consumer (DTC)-GT concept. The shift from passive customers to autonomous customers has created opportunities for companies to respond in a variety of sectors, including genetic testing. The inherent accessibility of Direct-To-Consumer (DTC) technology is a significant advantage, allowing consumers to freely access 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 the primary motivation. As a result, 90% of Direct-To-Consumer (DTC)-GT companies use the emotional appeal of “empowerment” in their marketing strategies.
23andMe, Inc., Ancestry.com, LLC, Color Health, Inc., Helix OpCo LLC, Counsyl., my legacy., Living DNA, Mapmygenome India Limited, Full Genomes Corporation, Direct Laboratory Services, LLC are some of the major players in the global direct-to-consumer (DTC) genetic testing market.
Main topics covered:
1. Presentation of services
2. Research methodology
3. Executive Summary
4. Impact of COVID-19 on the Global Direct-to-Consumer (DTC) Genetic Testing Market
5. Voice of the customer
5.1. Prevalence of genetic disorders, by sex
5.2. Prevalence of genetic disorders, by region
5.3. Commonly Seen Genetic Disorders
5.4. Factors Contributing to the 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 and forecast
6.1.1. By value
6.2. Market share and forecasts
6.2.1. By type of test (ancestry and relationship test, predictive test, nutrigenomic test, carrier test, skin care test, others)
6.2.2. By technology (single nucleotide polymorphism (SNP) arrays, targeted analysis, whole genome sequencing (WGS), others)
6.2.3. Per 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
ten. Middle East and Market Outlook for Direct-to-Consumer (DTC) Genetic Testing in Africa
11. South America Direct-to-Consumer (DTC) Genetic Testing Market Outlook
12. Market dynamics
13. Market trends and 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 legacy
14.7. Full Genomes Corporation, Inc.
14.8. living DNA
14.9. Mapmygenome India Limited
14.10. Direct Lab Services, LLC
15. Strategic Recommendations
16. About the publisher and disclaimer
For more information on this report, visit https://www.researchandmarkets.com/r/ej18wb
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