Home DNA Test Kit Market Opportunity Forecast 2028 Report Highlights.
Home DNA Test Kit Market Opportunity Forecast 2028 Report Highlights:
- Global DNA Test Kit Market Opportunity > USD 10 Billion by 2028
- DNA Test Kit Price Analysis by Company, Country & Indication
- DNA Testing Kit Availability By Country & Application
- Home Genetic Testing Kit Market Analysis by Application: Ancestry, Nutrigenomics, Parenting, Chronic Diseases
- Ancestry Genetic Testing Kit Market Opportunity > USD 2 Billion
- Global Market Analysis By Country: US, Canada, UK, Japan, India, China, Russia, Taiwan, South Korea, Europe, Singapore, Malaysia, Turkey, Australia, middle East
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The technological advancement in the field of biotechnology has resulted in wave of discoveries of common DNA sequence variants which are associated with the link of development of complex diseases, such as heart attack, cancer, and other chronic disorders which account for substantial proportion of morbidity, mortality, and healthcare costs globally. The introduction of genetic testing has enabled the early diagnosis of these diseases, thus providing better therapy to the patients. With the progress made in recombinant DNA technology, the cost of genome sequencing has significantly reduced in last few years, thus increasing the accessibility to large population.
In last few years, there has been recent trend among genetic testing companies to sell their products directly to patients without the involvement of physician. These kits generally consist of instructions and equipment for collecting a saliva sample, which is then posted by consumers to DTC Company for further analysis. Since then, several home genetic testing kits have been developed by pharmaceutical companies which are indicated for the early or risk diagnosis of wide range of diseases including cancer, cardiovascular diseases, and neurological disorders, amongst others. Apart from this, these kits have also been utilized to get information on ancestry, parenting disputes, health, and wellness.
The global home genetic testing kit market has been rapidly evolving from last few years and has emerged out to be key segment in healthcare sector. Further, the arrival of COVID-19 has also pushed the home genetic kit market during the past two years. The surge in prevalence of COVID-19 has encouraged the pharmaceutical companies to develop cost-effective and easily available kit for the diagnosis of virus. For instance in 2021, US FDA issued emergency use authorization (EUA) to launch the GetMyDNA COVID-19 Test Home Collection Kit DTC, which is now available for broad use for both symptomatic and asymptomatic individuals with no prescription required. Apart from this, FDA has issued several EUA to COVID-19 kits to increase awareness among the individuals.
Despite their several benefits, the home DNA kits have potential drawbacks. The home genetic kit does not provide conclusive results on whether the consumer will develop the disease or not. Further, the majority of home genetic testing kits performed by the DTC companies are restricted to a few genetic variants related to phenotypes of interest, which lead to poor discrimination power. In addition to genetic factors, several environmental and lifestyle factors including sex, age, nutrition, exercise, and stress also have an effect on the progression of disease.
Although there are several pitfalls, but the home DNA kits industry is growing with a high pace. This is mainly attributed to the increase in prevalence of chronic diseases and rising awareness regarding the early diagnosis of the disease. Further, there has been increasing collaboration, acquisitions, and joint ventures among the pharmaceutical companies which will eventually lead to introduction of more enhanced home genetic testing kits. The major players in global home genetic testing kit market includes 23andMe, AncestryDNA, MyHeritage, FamilytreeDNA, Color Genomics, Mapmygenome, and several others.
As per our report findings, the global home genetic testing kit market is expected to surpass US$ 10 Billion by 2028. US had a dominant share throughout the forecast period which is due to availability of large home genetic testing kits, rising awareness, and presence of key players in the region. The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace. The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
Contact:
Neeraj Chawla
Research Head
Kuick Research
neeraj@kuickresearch.com
+91-9810410366