DTC Genetic Testing Market 2020 by industry trends, statistics, key companies growth and regional forecast
Category: #healthcare  By Ronak Bora  Date: 2021-03-19
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DTC Genetic Testing Market 2020 by industry trends, statistics, key companies growth and regional forecast

DTC Genetic Testing Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Ongoing technological advancements and increasing disposable income will propel direct-to-consumer (DTC) genetic testing market growth. People are becoming cognizant about the availability of direct-to-consumer genetic testing solutions. These solutions offer easy sample collection & transport and technologically upgraded tests in lesser time, which will push the growth of direct-to-consumer genetic testing industry size.

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A comprehensive research report compiled by GMI., suggests that direct-to-consumer (DTC) genetic testing market size will surpass $3.4 billion by 2028.

Explaining about product spectrum, DTC genetic testing industry is bifurcated into carrier testing, ancestry & relationship testing, predictive testing, nutrigenomic testing, and others. Among these, in 2019, predictive testing accounted for around $200 million and is estimated to showcase similar growth patterns in the coming years. The growth will stem from the rising prevalence of genetic diseases and other chronic diseases.

According to the World Health Organization (WHO), several inherited diseases, including sickle cell anemia, thalassemia, cystic fibrosis, and hemophilia are highly prevailing across the world over the past few years. The prevalence of such disorders is expected to considerably offer a push to the growth graph of DTC genetic testing market share in the ensuing years.

On the basis of technology, direct-to-consumer genetic testing market is divided into targeted analysis, single nucleotide polymorphism (SNP) chips, and whole genome sequencing (WGS). Among these, whole genome sequencing is anticipated to register a CAGR of about 12% over 2020-2028. This technology is used in genetic tests delivered by various firms and provides a summary of most of the variations present in a person’s genome.

Based on the distribution channel, the market is segmented into over the counter and online platforms. In 2019, online segment accounted for almost 75% share in the total DTC genetic testing industry revenue. The growth can be attributed to the escalating use of the internet and ease of online marketing. Such factors are projected to reflect favorably on the growth of direct-to-consumer genetic testing industry size.

Taking into consideration the geographical landscape, Asia Pacific DTS genetic testing market is likely to record a CAGR of about 13% over 2020-2028. The regional growth can be attributed to the growing prevalence of chronic diseases & genetic disorders and transforming lifestyles. The governments of several countries, such as China and India have initiated to minimize the cost of available genetic tests.

Elaborating further on regional contribution, Latin America direct-to-consumer genetic testing industry trends are expected to be influenced by rising income levels in developing economies, such as Mexico and Brazil.

DTC genetic testing market growth will witness a forward integration owing to the rising number of research & development activities, intensifying demand for economic and quick genetic testing procedures, and amplifying prevalence of genetic disorders. A plethora of driving factors has persuaded several companies to thrive in direct-to-consumer genetic testing industry.

Business participants are adopting various strategies, such as mergers & acquisitions, collaborations, product development to expand their footprints. For example, in July 2018, 23andMe and GlaxoSmithKline collaborated to discover therapeutics for the treatment of genetic diseases. The partnership increased 23andMe’s share in direct-to-consumer genetic testing market.

A few more companies operating in direct-to-consumer genetic testing industry are Color Genomics, Ancestry, Easy DNA, Full Genome Corporation, FamilyTreeDNA (Gene By Gene), Helix OpCo LLC, Karmagenes, Identigene, Living DNA, MyHeritage, Mapmygenome, Pathway genomics, and Genesis Healthcare. 

Browse full table of contents (TOC) of this report @  https://www.decresearch.com/toc/detail/direct-to-consumer-dtc-genetic-testing-market

Partial Chapter of the Table of Content 

Chapter 5.  Direct-to-Consumer (DTC) Genetic Testing Market, By Technology

5.1. Key segment trends

5.2. Targeted analysis

5.2.1.  Targeted analysis market, by region, 2015 - 2028 (USD Million)

5.3. Single nucleotide polymorphism (SNP) chips

5.3.1.  Single nucleotide polymorphism chips market, by region, 2015 - 2028 (USD Million)

5.4. Whole genome sequencing (WGS)

5.4.1.  Whole genome sequencing market, by region, 2015 - 2028 (USD Million)

Chapter 6.  Direct-to-Consumer (DTC) Genetic Testing Market, By Distribution Channel

6.1. Key segment trends

6.2. Online platforms

6.2.1.  Online platforms market, by region, 2015 - 2028 (USD Million)

6.3. Over-the-counter

6.3.1.  Over-the-counter market, by region, 2015 - 2028 (USD Million)

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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