Recent trends in the direct-to-consumer (DTC) genetic testing market are driven by an increase in the number of product developments by prominent industry participants.
Recent trends in the direct-to-consumer (DTC) genetic testing market are driven by an increase in the number of product developments by prominent industry participants. Considering an instance, in February 2020, Nebula Genomics rolled out a consumer product intending to provide users with whole genome sequencing for $299.
This product roll-out came amid a slowdown in the industry. However, the startup expected that its affordable whole genome sequencing tests will attract consumers who have deployed less inclusive kits or those clients who have been interested in whole genome sequencing but failed to afford it.
Such advancements are set to drive industry demand through the forthcoming years. On this note, the direct-to-consumer (DTC) genetic testing market size is expected to surpass USD 2.5 billion by 2025, cites the latest research by Global Market Insights, Inc.
This escalation is mainly attributed to the ancestry and relationship testing segment which is anticipated to exhibit nearly 13 per cent growth through the forecasted period. The recently developed ancestry DTC genetic tests bridge the gap between ancestry genetic testing and health-related genetic testing. The availability of these tests is projected to spur the business landscape through 2028.
Some key trends pushing direct-to-consumer genetic testing industry expansion comprise:
Increasing inclination towards personalized medicines in North America
North America is witnessing an increasing inclination towards personalized medicines. The North America DTC genetic testing market is projected to exhibit a commendable growth of nearly 14 per cent through the analysis period.
Several regulatory bodies in the region such as the Food and Drug Administration are formulating laws for ensuring the availability of higher quality direct to consumer genetic tests. As per the CDC, the year 2017 recorded a drastic upsurge in the number of people going for DTC genetic testing.
To access sample pages of this report titled, “Direct-To-Consumer (DTC) Genetic Testing Market Size By Test Type (Carrier Testing, Predictive Testing, Ancestry & Relationship Testing, Nutrigenomics Testing), By Distribution Channel (Online Platforms, Over-the-Counter), By Technology (Targeted Analysis, Single Nucleotide Polymorphism (SNP) Chips, Whole Genome Sequencing (WGS)), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2028” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/3033
Rising prevalence of genetic disorders
An escalation in the prevalence of genetic disorders is estimated to stimulate direct-to-consumer (DTC) genetic testing market growth over the assessment period. These diseases comprise Tay Sachs disease, sickle cell anemia, Huntington’s disease, haemophilia, cystic fibrosis, and thalassemia.
According to the World Health Organization, nearly 72,000 people in the United States alone suffer from sickle cell anemia on an annual basis. With direct to consumer testing kits, patients can get access to in-depth information about their genetic variation about the associated diseases which further increases the product demand.
Escalating contributions from direct to consumer genetic testing companies
Eminent players in the direct-to-consumer (DTC) genetic testing market include 23andMe, MyHeritage, Full Genomes, Helix, Ancestry, Karmagenes, Pathway Genomics, EasyDNA, MapMyGenome, and others. These participants are focusing on the adoption of strategic initiatives such as collaborations, mergers, and acquisitions for impelling industry outlook over the assessment period.
For example, in November 2018, Ancestry.com launched the Ancestry DNA test that offers detailed genetic information. This proved to be significant in fostering the company’s expansion.
In the years to come, an upsurge in income levels are slated to impel the demand for DTC genetic testing kits, further augmenting the market size over the analysis period.
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