SAN FRANCISCO ,
March 1,
2022 /PRNewswire/ -- A new market study
published by Global Industry Analysts Inc., (GIA) the premier
market research company, today released its report
titled "Direct-to-Consumer (DTC) Genetic Testing - Global
Market Trajectory & Analytics". The report presents fresh
perspectives on opportunities and challenges in a significantly
transformed post COVID-19 marketplace.
FACTS AT A GLANCE
What's New for
2022?
- · Global competitiveness and key competitor percentage market
shares
- · Market presence across multiple geographies -
Strong/Active/Niche/Trivial
- · Online interactive peer-to-peer collaborative bespoke
updates
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Platform
- · Complimentary updates for one year
Edition: 19; Released: February
2022
Executive Pool: 691
Companies: 81 - Players covered include 23andMe, Inc.;
Ancestry.com, LLC; Any Lab Test Now; Color Genomics, Inc.; Direct
Laboratory Services, LLC; Easy DNA; Full Genomes Corporation, Inc.;
Gene by Gene, Ltd.; Genesis Healthcare; Helix OpCo LLC; IDENTIGENE,
LLC; Laboratory Corporation of America® Holdings; Living DNA;
Mapmygenome India Limited; MyHeritage; Pathway Genomics; Positive
Bioscience, Inc.; Quest Diagnostics, Inc.; Request A Test, Ltd.;
Sonora Quest Laboratories LLC; Xcode Life Sciences and Others.
Coverage: All major geographies and key segments
Segments: Test Type (Ancestry & Relationship
Testing, Nutrigenomics Testing, Predictive Testing, Carrier
Testing, Other Test Types); Technology (Single Nucleotide
Polymorphism (SNP) Chips, Targeted Analysis, Whole Genome
Sequencing (WGS)); Distribution Channel (Online,
Over-the-Counter)
Geographies: World; USA; Canada;
Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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Registry
ABSTRACT-
Global Direct-to-Consumer (DTC) Genetic Testing Market to
Reach US$1.9 Billion by the Year
2026
Genomic testing is a revolutionary tool and
offers a broad range of applications such as diagnosis of
infectious diseases, treatment selection for cancer patients,
non-invasive prenatal testing, among others. Growth in the global
is being driven by new technological advances and rising prevalence
of many genetic disorders such as diabetes, cancer, cystic
fibrosis, and Alzheimer's disease globally. Factors such as real
time drug discovery, cutting-edge diagnostic methods, and advanced
treatments will propel market growth. Increasing user awareness,
disposable income, and healthcare expenditure combined with rising
adoption of customized medicine to treat genetic disease are other
factors driving growth in the market. Public awareness regarding
the availability of DTC genetic testing in developing as well as
developed countries is continually rising. Leading market players
like Ancestry and 23andMe are focusing on offering high-quality DTC
genetic testing solutions that ensure accurate and effective test
results. Growing awareness among Europeans and Americans regarding
racial testing is also driving market demand. Another key driver in
the DTC genetic testing market includes elderly consumers who take
a keen interest in their healthcare, which is intensified by access
to genetic test kits that can detect genes whose variations are
associated with an increased risk of developing an age-related
disease such as Alzheimer's. The declining cost of these tests
along with the benefits of confidentiality and anonymity further
drive growth.
Amid the COVID-19 crisis, the global market for
Direct-to-Consumer (DTC) Genetic Testing estimated at US$1.1 Billion in the year 2022, is projected to
reach a revised size of US$1.9
Billion by 2026, growing at a CAGR of 12.3% over the
analysis period. Ancestry & Relationship Testing, one of the
segments analyzed in the report, is projected to grow at a 9.8%
CAGR to reach US$915.4 Million by the
end of the analysis period. After a thorough analysis of the
business implications of the pandemic and its induced economic
crisis, growth in the Nutrigenomics Testing segment is readjusted
to a revised 13.6% CAGR for the next 7-year period. This segment
currently accounts for a 21% share of the global Direct-to-Consumer
(DTC) Genetic Testing market. Ancestry & relationship testing
is the most prevalent test type, and the segment is slated to
benefit from recent advances that are likely to link ancestry
testing with health-related genetic testing. Nutrigenomics testing
is used by healthcare professionals to suggest personalized diet
and nutritional guidance to overweight people to maintain a healthy
lifestyle and manage weight. The segment's growth is propelled by
rising prevalence of obesity and increasing R&D related to
nutritional aspects.
The U.S. Market is Estimated at $478.5
Million in 2022, While China is Forecast to Reach
$149.8 Million by
2026
The Direct-to-Consumer (DTC) Genetic Testing
market in the U.S. is estimated at US$478.5
Million in the year 2022. The country currently accounts for
a 43% share in the global market. China, the world's second largest economy, is
forecast to reach an estimated market size of US$149.8 Million in the year 2026 trailing a CAGR
of 15.2% through the analysis period. Among the other noteworthy
geographic markets are Japan and
Canada, each forecast to grow at
11.3% and 13.1% respectively over the analysis period. Within
Europe, Germany is forecast to grow at approximately
12.6% CAGR while Rest of European market (as defined in the study)
will reach US$170.8 Million by the
end of the analysis period. The US dominates market growth due to
the increased awareness about genetic diseases among general
populace, growing tendency among general public to identify early
and either prevent or provide management of various chronic
diseases as well as technical and scientific advancements made in
the field of medicine and science in general. Additionally, the
regulatory mechanism in the US is relatively better streamlined
compared to other markets. Europe
represents the next leading market for DTC genetic testing. The
market is fueled by increasing healthcare spending by various
governments to ensure easy access to advanced genetic tests.
Predictive Testing Segment to Reach $373.2 Million by 2026
The
predictive testing market is recording strong growth, driven by
exponential growth in the number of diseases and medical conditions
that are identifiable through genetic modalities, surging from a
mere 90-100 diseases in the early 1990s, to about 1,800 to 2,000
conditions in the present day. In the global Predictive Testing
segment, USA, Canada, Japan, China
and Europe will drive the 16.1%
CAGR estimated for this segment. These regional markets accounting
for a combined market size of US$134.3
Million will reach a projected size of US$371 Million by the close of the analysis
period. China will remain among
the fastest growing in this cluster of regional markets. Led by
countries such as Australia,
India, and South Korea, the market in Asia-Pacific is forecast to reach US$20.3 Million by the year 2026. More
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SOURCE Global Industry Analysts, Inc.