Dublin, July 13, 2021 (GLOBE NEWSWIRE) -- The "Direct-to-Consumer (DTC) Genetic Testing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Direct-to-Consumer (DTC) Genetic Testing Market to Reach US$2.3 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Direct-to-Consumer (DTC) Genetic Testing estimated at US$1.1 Billion in the year 2020, is projected to reach a revised size of US$2.3 Billion by 2027, growing at a CAGR of 11.5% over the analysis period 2020-2027.
Ancestry & Relationship Testing, one of the segments analyzed in the report, is projected to grow at a 9.1% CAGR to reach US$960.8 Million by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nutrigenomics Testing segment is readjusted to a revised 12.7% 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.
The U.S. Accounts for Over 43.3% of Global Market Size in 2020, While China is Forecast to Grow at a 14.1% CAGR for the Period of 2020-2027
The Direct-to-Consumer (DTC) Genetic Testing market in the U.S. is estimated at US$465.1 Million in the year 2020. The country currently accounts for a 43.27% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$173.3 Million in the year 2027 trailing a CAGR of 14.1% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.5% and 12.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.8% CAGR while Rest of European market (as defined in the study) will reach US$173.3 Million by the year 2027.
Predictive Testing Segment Corners a 16.2% Share in 2020
In the global Predictive Testing segment, USA, Canada, Japan, China and Europe will drive the 14.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$152.5 Million in the year 2020 will reach a projected size of US$395.6 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$116.7 Million by the year 2027.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Direct-to-Consumer (DTC) Genetic Testing: An Overview
- Pros and Cons of Direct-to-Consumer (DTC) Genetic Testing
- Market Segments
- Ancestry Tests
- Predictive Tests
- Carrier Tests
- Nutrigenomics Tests
- Market Prospects and Outlook
- US Dominates the Global DTC Genetic Tests Market
- Ancestry Testing Holds Major Share, Predictive Testing Witnesses Rapid Growth
- Competitive Scenario
- Recent Market Activity
- Innovations by Leaders
- Recent Launches by New Entrants
- Changing Landscape of DTC Genetic Testing
- Regulations to Determine Market Viability
- Potential Benefits Outweigh Concerns
- DTC Genetic Testing: High Potential Benefits, But Concerns Persist
- Quality Assurance
- Confidentiality of Genetic Information
- Price and Related Services
- Greater Chances of Misinterpretation
2. FOCUS ON SELECT PLAYERS (Total 75 Featured)
- 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
3. MARKET TRENDS & DRIVERS
- Consumers Self-Managing Treatments: The New Trend
- DTC Genetic Testing Players Join War against COVID-19
- Increasing Cases of Genetic Disorders to Drive Market Growth
- Advances in Genome Sequencing
- DTC Genetic Testing Presents Lucrative Personalization Opportunities
- Regulatory Headwinds and Data Paucity Impacting DTC Genetic Testing Market
- Despite Progress in DTC Genetic Testing Regulations, Concerns Still Linger
- Transparency of Data: Bugbear of DTC Genetic Testing Companies
- Association for Molecular Pathology Releases New Standards for Genetic Test Providers
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- UNITED STATES
- CANADA
- JAPAN
- CHINA
- EUROPE
- Advantages of Liberalization of DTC Genetic Testing Regulations
- EU Policymakers Need to Liberalize Regulations and Create Single Market for DTC Genetic Testing
- FRANCE
- GERMANY
- ITALY
- UNITED KINGDOM
- REST OF EUROPE
- ASIA-PACIFIC
- Primary Issues Faced by DTC Genetic Testing in India
- REST OF WORLD
IV. COMPETITION
- Total Companies Profiled: 75
For more information about this report visit https://www.researchandmarkets.com/r/5svzb8