Fact.MR – a market research and competitive intelligence provider: The genealogy products and services market is likely to be valued at over US$ 3 billion in 2019.
Rising Demand For DNA Testing Across United States To Provide Growth Opportunities For Market Players In North America
“DNA and genetic testing are finding lucrative opportunities in the field of forensics as they adopt advance technologies to enhance the efficiency of investigation. This is boosting the adoption genealogy products and services in the forensics domain,” says the Fact.MR analyst.
Fact.MR – a market research and competitive intelligence provider: The genealogy products and services market is likely to be valued at over US$ 3 billion in 2019. The market is likely to continue its bullish run with a myriad of factors influencing the strategy of key players. The report on genealogy products and services market provides an all-inclusive assessment of all the factors influencing the genealogy products & services market.
The technological advancements in genealogy can create new opportunities for the market to grow with a higher CAGR. The Global Genealogy Products and Services Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
With surging demand for medical testing such as genetic and DNA testing in an assortment of industries, the market is experiencing strong growth. The growing awareness about genealogy is another factor that accelerates the market to grow at a pace in the forecasted period.
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Key Takeaways from Market Study
- The genealogy products and services market is projected to expand at 11.4% CAGR through 2021 and beyond
- Family records segment is accounted to hold the largest market share
- China anticipated to be one of the most lucrative market for genealogy products and services
- Rising demand for DNA testing across United States to provide growth opportunities for market players in North America
- DNA testing expected to be one of the most lucrative segment through 2021 and beyond
For instance, the rise in demand for tracing the lineages in China with a significant percentage population owing to lack of records is boosting the growth. The records were destroyed during the wars in China and the Cultural Revolution.
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Market Developments:
Leading players operating in the genealogy products & services market continue to bolster their online presence while launching new and innovative services to draw in more consumers.
Other leading companies profiled in the report include Geneanet, WikiTree, FindmyPast, GenealogyBank, Living DNA, Billion Graves, and Family Tree DNA.
Some of the recent notable developments in the genealogy products & services market include:
- To capitalize on the surging demand for home DNA testing, MyHeritage signed an agreement with WHSmith, giving latter the right to sell and distribute its DNA kits in the UK. The agreement is the first of its kind in the UK and will allow MyHeritage to extend its network.
- 23andMe, Inc., became the first company in the USA to receive an authorization for conducting direct-to-consumer test estimating the risks of cancer in the country. The authorization allows 23andMe to provide consumers with a report on BRCA1 and BRCA2 genes which are closely associated with higher risks of ovarian, breast, and prostate cancer.
- com, a leading player in the genealogy products & services market, recently released 94 new and updated genetic communities specifically for African Americans to help them learn about their lineage and heritage.
- To ensure precise and extensive results, FamilySearch announced it will be redesigning its database to include data about same-sex families. The company claims it will finish redesigning its system in 2019.
Key Segments Covered in the Genealogy Products and Services Market Report
- By Category :
- Genealogy Products and Services for Family Records
- Birth
- Marriage
- Death
- Residency
- Military
- Service
- Immigration
- Genealogy Products and Services for Family Tree
- Genealogy Products and Services Forum
- Genealogy Products and Services Newspapers
- Genealogy Products and Services Blogs
- Genealogy Products and Services Links
- Genealogy Products and Services for DNA Testing
- Y-DNA
- mt-DNA
- at-DNA
- Other Genealogy Products and Services
- Genealogy Products and Services for Family Records
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In addition to the aforementioned insights about the genealogy products & services market, the report answers the following vital questions about the genealogy products and services market:
- Which region held the bulk of the genealogy products and services market share in 2018?
- What category promises the best prospects of growth in the genealogy products & services market in 2022?
- What are the lucrative opportunities on offer in the genealogy products & services market?
- What are the challenges in the genealogy products & services market growth?
- What are the threats that could dampen genealogy products & services market growth?
More Insights on the Genealogy products and services Market
In its latest report on genealogy products and services market, Fact.MR gives a detailed segmentation on the key growth drivers and opportunities expected to prevail the market in upcoming years. In order to understand the market perspective, trends and challenges, the market is segmented on the basis of category (family records, family tree, forum, cemetery, newspapers, blogs, links, and DNA testing), and across major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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