Pune, India, Oct. 06, 2023 (GLOBE NEWSWIRE) -- According to our new research study on “Direct-to-Consumer Genetic Testing Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Test Type (Nutrigenomics Testing, Predictive Testing, Carrier Testing, and Others), Technology (Whole Genome Sequencing, Single Nucleotide Polymorphism Chips, Targeted Analysis, and Others), Distribution Channel (Online and Offline), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America),” the global direct-to-consumer genetic testing market size was valued at $1.71 billion in 2022 and is expected to reach $7.19 billion by 2030. It is estimated to register a CAGR of 19.6% from 2022 to 2030.
Download Sample PDF Brochure: https://www.theinsightpartners.com/sample/TIPRE00018484
Global Direct-to-Consumer Genetic Testing Market - Report Scope:
| Report Coverage | Details |
| Market Size Value in | USD 1.71 Billion in 2022 |
| Market Size Value by | USD 7.19 Billion by 2030 |
| Growth rate | CAGR of 19.6% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| No. of Pages | 162 |
| No. of Tables | 85 |
| No. of Charts & Figures | 57 |
| Historical data available | Yes |
| Segments covered | Test Type, Technology, and Distribution Channel |
Global Direct-to-Consumer Genetic Testing Market: Competitive Landscape and Key Developments
Genesis Healthcare Co; Ancestry Genomics Inc; Color Health Inc; Helix Inc; Myriad Genetics, Inc; Living DNA Ltd; 7and Me Inc; Genetic Technologies Ltd; Gene By Gene Ltd, and Full Genomes Corp Inc. are among the leading companies operating in the direct-to-consumer genetic testing market. These players aim to expand and diversify their market geography reach and acquire a novel customer base, thereby tapping prevailing business opportunities in the direct-to-consumer genetic testing market. A few of the major companies in the direct-to-consumer genetic testing market follow inorganic strategies, which are as follows.
In June 2023, St. Luke's University Health Network of Bethlehem, and Helix, Inc. joined forces to offer precision medicine opportunities to Pennsylvania and New Jersey patients through a new community health research program. This partnership will create a unique regional research program to expand the capabilities to benefit more patients greatly.
In June 2023, The American Cancer Society (ACS) and Color Health announced a partnership that will provide convenient, accessible, and comprehensive cancer prevention and screening solutions for the highest-burden cancers, including breast, prostate, lung, cervical, and colorectal for more than 150 million Americans who receive health care through either their employer or union.
In July 2022, Genetic Technologies (GTG) collaborated with the Obstetrics and Gynaecology practice Siles Health to implement the geneType Multi-Risk Test. The geneType Multi-Risk Test is designed to identify an individual’s risk of developing various common serious diseases.
Growing Interest in Pharmacogenetics and Increasing Adoption of Telehealth to be Future Trends in Market:
The direct-to-consumer genetic testing market will benefit from the increasing popularity of the pharmacogenetics field. A comprehensive characterization of the genetic component underlying many complex diseases, traits, and drug responses has been enabled with the help of recent technological advances. This information has made genetic testing available more extensively in healthcare and can be used to assess the risk of inherited diseases and predict response to medications. Such tests can reduce drug-related adverse events, thereby increasing the effectiveness of drugs by the means of assessing the sensitivity of a person toward a particular drug. Pharmacogenetic testing is an interesting aspect for DTC companies because test results are actionable once a relevant drug is prescribed, which may be at the time of testing or many years later. Pharmacogenetic testing is one of the primary genetic testing services of DTC-GT companies. Pharmacogenetic testing reveals genetic variations associated with drug efficacy and responses. Therefore, most people are interested in finding out the function of their genome concerning their medication intake. DTC genetic testing companies such as 23andMe allow consumers to directly access their genetic information through an online service without the involvement of medical professionals.
A new model of DTC telemedicine is becoming increasingly popular. Patients select their clinical problem on a DTC company's website or mobile phone application and submit a medical intake form online. A doctor reviews this information and may or may not contact the patient for further information. According to an article titled "Comparison of Direct-to-Consumer Telemedicine Visits With Primary Care Visits" in the American Medical Association, DTC telemedicine companies completed more than 1 million care visits using this model in the past two years and have continued to experience growth throughout the COVID-19 pandemic. While COVID-19 testing has contributed to the rapid expansion of the direct-to-consumer diagnostic testing (DTC) market, DTC goes far beyond COVID-19 testing. This rapid transition to a digital workflow includes every step, from sample collection to analysis and archiving of final results. Therefore, owing to the growing interest in pharmacogenetics and rising adoption of telehealth, DTC genetic testing is becoming convenient, accessible, and effective, which is expected to boost the market growth in the future.
Order a Copy of this Report at https://www.theinsightpartners.com/buy/TIPRE00018484
Global Direct-to-Consumer Genetic Testing Market: Segmental Overview
The direct-to-consumer genetic testing market has been segmented on the basis of test type, technology, distribution channel, and geography. The market, by test type, is segmented into ancestry testing, nutrigenomics testing, predictive testing, carrier testing, and others. The ancestry testing segment held the largest market share in 2022, whereas the predictive testing segment is projected to register the highest CAGR during 2022–2030.
Based on technology, the market is classified into whole genome sequencing, single nucleotide polymorphism chips, targeted analysis, and others. The single nucleotide polymorphism chips segment held the largest market share in 2022, and the same is estimated to register the highest CAGR during 2022–2030.
Based on distribution channel, the direct-to-consumer genetic testing market is categorized into online and offline. In 2022, the online segment held a larger share of the market and is anticipated to register a higher CAGR in the market during 2022–2030.
Go through further research published by The Insight Partners:
Genetic Testing Services Market - Global Analysis and Forecast to 2027
Prenatal and Newborn Genetic Testing Market - Global Analysis and Forecast to 2027
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/direct-to-consumer-genetic-testing-market
