| Published Date | Report Code | No. of Pages | Report Format |
| Oct – 2019 | AMR-9008 | 110 | PDF / Excel |
Growing incidences of genetic and rare disorders to drive the market growth at 6.3% CAGR
Technological developments have made it possible for us to decode and make sense of the data contained in our genes at ever quicker speeds and reduced expenses over the previous century. However, the main implementation of this technology was in hospital-based diagnostic facilities until comparatively recently.
However, DTC-GT is a quickly growing and possibly appealing sector–where clients directly order sampling kits. The independent and comparatively simple transaction allows for the accessibility of genetic testing to anyone who wants to pay for it.
The genetic tests directly marketed to customers have seen fast development as they provide access to the genetic information of a person without involving a physician in the process. It is sold for a multitude of purposes ranging from determining genetic ancestry to anticipating a specific disease’s risk potential. The latest regulatory approval to conduct multiple tests has played a key role in the fast market growth. In addition, the decrease in the price of the genome sequencing method made the genetic test comparatively inexpensive, resulting in a rise in the number of tests ordered.
Nutrigenomics testing segment to drive market growth
In 2018, the segment of nutrigenomics testing had more than USD 175 million in revenues and is expected to see robust growth in the near future. Nutrigenomic tests study the DNA of the patient to evaluate complex nutrition, gene and health relationships. It offers a better knowledge of how each person responds differently to their consumption of supplements and food. Increasing demand for personalized nutrition and the willingness to remain fit will drive the development of the segment over the timeframe forecast.
North America to dominate market growth
The DTC genetic testing market in North America is projected to be 14.7 percent CAGR in the years ahead. Growth is ascribed to increased genetic disease incidence and raised awareness among DTC-related genetic testing individuals. In addition, increasing cancer incidence in the region will increase demand for early diagnosis DTC genetic tests. In the future, strong footholds of industry players offering innovative alternatives will surpass demand for DTC genetic testing. Increasing government investment in R&D, fast technological advances, the accessibility of new tests and the region’s big patient pool will boost demand for DTC genetic testing in early diagnosis of illness. Increasing the incidence of genetically inherited diseases such as cancer, combined with increased healthcare spending, will also drive the genetic testing market for North America DTC. Increasing demand for service personalization is the main factor driving the development of the genetic testing sector in advanced areas such as North America and Europe. These tests allow customers to understand their genetic information without involving doctors and other experts in the healthcare sector. DTC testing enables customers to determine genetic predisposition to diabetes, cancer, Alzheimer’s disease and other genetic diseases to facilitate precautionary healthcare preparation.
Some of the major companies operating in the global market include Cisco Systems, Inc.; Arista Networks, Inc.; Hitachi, Ltd.; Methode Electronics; Cleveland Cable Company; Molex, LLC; Juniper Networks; Panduit; Nexans and ProLabs Ltd among others.
The global direct to consumer genetic testing market was valued at USD 603 million in 2018 and is projected to register a CAGR of 18.3% during the forecast period. The increasing incidence in the DTC genetic test industry is driving development in the coming years of genetic and rare diseases globally combined with broad technologies in early detection and oncology prevention, as well as in other genetic diseases. Increased knowledge of early diagnosis among patients will lead to timely therapy and a decreased mortality rate. More important factors in the process of making direct genetic tests are technological innovations which will provide improved effectiveness, high sensitivity and precision.
In the developed region, rising demand for personalized and modified medicines is a prominent factor that will fuel market development in DTC genetic testing. DTC tests allow customers to obtain useful ideas from healthcare practitioners on genetic information with little or no interference. These studies provide a better knowledge of the probability of developing life-threatening conditions such as cancer, Alzheimer’s, diabetes, and other genetic disorders. Extensive DTC genetic testing apps will thereby increase their demand, increasing company development over the forecast period.
The change from passive to empowered clients has given companies the opportunity to react across a number of industries, including those in the field of genetic testing. DTC-GT’s intrinsic accessibility is a great benefit, enabling customers to have free access to their own genetic information and to personalized ideas and suggestions. The worldwide market for direct-to-consumer genetic testing is increasing, driven by increased awareness, an evolving culture of consumer empowerment, and increasing demand for personalized services. Companies providing these services, however, are increasingly concerned about data privacy and validity of science.
The global direct to consumer genetic testing market can be segmented on the basis of test type, technology and geography. On the basis oftest type, the global direct to consumer genetic testing market can be classified into carrier testing, predictive testing, ancestry & relationship testing, nutrigenomics testing. Based ontechnology, the global direct to consumer genetic testing market can be bifurcated into targeted analysis, single nucleotide polymorphism chips, whole genome sequencing. Based on regions, the global direct to consumer genetic testing market is divided into Europe, North America, Latin America, Asia-Pacific and rest of the world.
Increasing global incidence of genetic disorders like cancer is the main driver of the development of the world genetic testing sector directly for consumers. Genetic and rare illnesses affect around 350 million individuals around the world according to Global Genes. Genetic direct testing allows customers to identify genetic susceptibility to various genetic diseases. A further acceleration, compared to the projected timeline, of the implementation of DTC genetic tests for Early Disease Detection and identification of the genetically modified mutation preceding its occurrence.
Some of the major companies operating in the global market are Ancestry, 23andMe, EasyDNA, Color, Full Genomes, Family Tree DNA, Helix, Genesis HealthCare, Karmagenes, Identigene, MapMyGenome, Living DNA, Pathway Genomics and MyHeritage among others.
Chapter 1.Executive Summary
Chapter 2.Market Introduction
Chapter 3.Global Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025 – Key Industry Dynamics
Chapter 4.Global Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 5.Global Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025 – By Test Type
Chapter 6.Global Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025 – By Technology
Chapter 7.Global Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025 – By Region
Chapter 8.North America Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 9.Europe Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 10.Asia-Pacific Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 11.Latin America Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 12.Middle East & Africa Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 13.Competitive Analysis
Growing incidences of genetic and rare disorders to drive the market growth at 6.3% CAGR
Technological developments have made it possible for us to decode and make sense of the data contained in our genes at ever quicker speeds and reduced expenses over the previous century. However, the main implementation of this technology was in hospital-based diagnostic facilities until comparatively recently.
However, DTC-GT is a quickly growing and possibly appealing sector–where clients directly order sampling kits. The independent and comparatively simple transaction allows for the accessibility of genetic testing to anyone who wants to pay for it.
The genetic tests directly marketed to customers have seen fast development as they provide access to the genetic information of a person without involving a physician in the process. It is sold for a multitude of purposes ranging from determining genetic ancestry to anticipating a specific disease’s risk potential. The latest regulatory approval to conduct multiple tests has played a key role in the fast market growth. In addition, the decrease in the price of the genome sequencing method made the genetic test comparatively inexpensive, resulting in a rise in the number of tests ordered.
Nutrigenomics testing segment to drive market growth
In 2018, the segment of nutrigenomics testing had more than USD 175 million in revenues and is expected to see robust growth in the near future. Nutrigenomic tests study the DNA of the patient to evaluate complex nutrition, gene and health relationships. It offers a better knowledge of how each person responds differently to their consumption of supplements and food. Increasing demand for personalized nutrition and the willingness to remain fit will drive the development of the segment over the timeframe forecast.
North America to dominate market growth
The DTC genetic testing market in North America is projected to be 14.7 percent CAGR in the years ahead. Growth is ascribed to increased genetic disease incidence and raised awareness among DTC-related genetic testing individuals. In addition, increasing cancer incidence in the region will increase demand for early diagnosis DTC genetic tests. In the future, strong footholds of industry players offering innovative alternatives will surpass demand for DTC genetic testing. Increasing government investment in R&D, fast technological advances, the accessibility of new tests and the region’s big patient pool will boost demand for DTC genetic testing in early diagnosis of illness. Increasing the incidence of genetically inherited diseases such as cancer, combined with increased healthcare spending, will also drive the genetic testing market for North America DTC. Increasing demand for service personalization is the main factor driving the development of the genetic testing sector in advanced areas such as North America and Europe. These tests allow customers to understand their genetic information without involving doctors and other experts in the healthcare sector. DTC testing enables customers to determine genetic predisposition to diabetes, cancer, Alzheimer’s disease and other genetic diseases to facilitate precautionary healthcare preparation.
Some of the major companies operating in the global market include Cisco Systems, Inc.; Arista Networks, Inc.; Hitachi, Ltd.; Methode Electronics; Cleveland Cable Company; Molex, LLC; Juniper Networks; Panduit; Nexans and ProLabs Ltd among others.
The global direct to consumer genetic testing market was valued at USD 603 million in 2018 and is projected to register a CAGR of 18.3% during the forecast period. The increasing incidence in the DTC genetic test industry is driving development in the coming years of genetic and rare diseases globally combined with broad technologies in early detection and oncology prevention, as well as in other genetic diseases. Increased knowledge of early diagnosis among patients will lead to timely therapy and a decreased mortality rate. More important factors in the process of making direct genetic tests are technological innovations which will provide improved effectiveness, high sensitivity and precision.
In the developed region, rising demand for personalized and modified medicines is a prominent factor that will fuel market development in DTC genetic testing. DTC tests allow customers to obtain useful ideas from healthcare practitioners on genetic information with little or no interference. These studies provide a better knowledge of the probability of developing life-threatening conditions such as cancer, Alzheimer’s, diabetes, and other genetic disorders. Extensive DTC genetic testing apps will thereby increase their demand, increasing company development over the forecast period.
The change from passive to empowered clients has given companies the opportunity to react across a number of industries, including those in the field of genetic testing. DTC-GT’s intrinsic accessibility is a great benefit, enabling customers to have free access to their own genetic information and to personalized ideas and suggestions. The worldwide market for direct-to-consumer genetic testing is increasing, driven by increased awareness, an evolving culture of consumer empowerment, and increasing demand for personalized services. Companies providing these services, however, are increasingly concerned about data privacy and validity of science.
The global direct to consumer genetic testing market can be segmented on the basis of test type, technology and geography. On the basis oftest type, the global direct to consumer genetic testing market can be classified into carrier testing, predictive testing, ancestry & relationship testing, nutrigenomics testing. Based ontechnology, the global direct to consumer genetic testing market can be bifurcated into targeted analysis, single nucleotide polymorphism chips, whole genome sequencing. Based on regions, the global direct to consumer genetic testing market is divided into Europe, North America, Latin America, Asia-Pacific and rest of the world.
Increasing global incidence of genetic disorders like cancer is the main driver of the development of the world genetic testing sector directly for consumers. Genetic and rare illnesses affect around 350 million individuals around the world according to Global Genes. Genetic direct testing allows customers to identify genetic susceptibility to various genetic diseases. A further acceleration, compared to the projected timeline, of the implementation of DTC genetic tests for Early Disease Detection and identification of the genetically modified mutation preceding its occurrence.
Some of the major companies operating in the global market are Ancestry, 23andMe, EasyDNA, Color, Full Genomes, Family Tree DNA, Helix, Genesis HealthCare, Karmagenes, Identigene, MapMyGenome, Living DNA, Pathway Genomics and MyHeritage among others.
Chapter 1.Executive Summary
Chapter 2.Market Introduction
Chapter 3.Global Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025 – Key Industry Dynamics
Chapter 4.Global Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 5.Global Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025 – By Test Type
Chapter 6.Global Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025 – By Technology
Chapter 7.Global Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025 – By Region
Chapter 8.North America Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 9.Europe Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 10.Asia-Pacific Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 11.Latin America Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 12.Middle East & Africa Direct to Consumer Genetic Testing Market – Analysis and Revenue Forecast 2018-2025
Chapter 13.Competitive Analysis
