Selbyville, Delaware, June 19, 2019 (GLOBE NEWSWIRE) --
North America direct-to-consumer genetic testing market is estimated to witness 14.7% CAGR in forthcoming years. Growth is attributed to increasing prevalence of genetic diseases and high awareness amongst people pertaining to DTC genetic tests. Moreover, rising prevalence of cancer in the region will augment demand for DTC genetic tests for early diagnosis. Strong foothold of industry players providing innovative solutions will exceed demand for DTC genetic tests in the forthcoming future.
Nutrigenomics testing segment held more than 170 million revenue in 2018 and is expected to witness robust growth in near future. Nutrigenomic tests study patient’s DNA to analyze intricate relationship between nutrition, gene and health. It provides better understanding on how each individual respond differently to supplements and food they consume. Increasing demand to personalized nutrition and desire to stay fit will propel the segment growth over forecast timeframe.
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Whole genome sequencing technology segment of direct-to-consumer genetic testing market is anticipated to witness more than 14.5% CAGR during the analysis timeframe. The segmental growth is attributed to increasing applications of whole genome sequencing technology for DTC genetic testing. Decreasing cost of genome sequencing coupled with technological advancements in the field of genome sequencing will further propel the usage of whole genome sequencing method in the near future.
Global Direct-to-Consumer Genetic Testing Market is set to surpass USD 2.5 billion by 2025; according to a new research report by Global Market Insights, Inc. Increasing prevalence of rare genetic disorders globally coupled with extensive applications of direct-to-consumer genetic testing in early detection of cancer and other genetic disorder will foster DTC genetic testing market growth in near future. Moreover, technologically advanced DTC genetic tests that provide improved accuracy, efficacy and sensitivity should increase its adoption rendering significant positive impact on industry growth.
Browse key industry insights spread across 120 pages with 64 market data tables & 8 figures & charts from the report, “Direct-to-Consumer Genetic Testing Market Size By Test Type (Carrier Testing, Predictive Testing, Ancestry & Relationship Testing, Nutrigenomics Testing), By Technology (Targeted Analysis, Single Nucleotide Polymorphism (SNP) Chips, Whole Genome Sequencing (WGS)), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Australia, South Korea, Argentina, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/direct-to-consumer-dtc-genetic-testing-market
Surging demand for personalized and altered drugs in developed region is a prominent factor that will fuel DTC genetic testing market growth. DTC tests enable consumers to gain valuable insights on genetic information with little or no intervention from healthcare professionals. These tests provide better understanding on likelihood of acquiring life-threatening conditions such as cancer, Alzheimer’s, diabetes and other genetic ailments. Extensive applications of DTC genetic testing will rise its demand thereby, augmenting business growth over the forecast time period. However, high cost of DTC genetic testing kits coupled with identified defects in direct-to-consumer genetic tests may hinder the business growth to some extent.
Some of the key players operating in global direct-to-consumer genetic testing market are EasyDNA, 23andMe, Ancestry, Color, Full Genomes, Genesis HealthCare, Helix, Identigene, Karmagenes, Living DNA, MapMyGenome, Family Tree DNA, Pathway Genomics and MyHeritage. Industry players emphasize on strategic expansion through mergers and acquisitions collaborations that enables them to strengthen their market position and improvise on existing product portfolio. For instance, in May 2019, MyHeritage launched MyHeritage DNA Health+Ancestry test. This strategy aimed at expansion of company’s product portfolio.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.