Dublin, July 06, 2023 (GLOBE NEWSWIRE) -- The "Direct-to-Consumer Genetic Testing Market Size, Share & Trends Analysis Report By Test Type (Nutrigenomics, Carrier), By Technology (Whole Genome Sequencing), By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global direct-to-consumer genetic testing market size is expected to reach USD 8.8 billion by 2030, expandingat a CAGR of 24.3% from 2023 to 2030.
The major drivers of market growth include increasing awareness about the potential benefits of genetic testing, growing demand for personalized medicine, and decreasing the cost of genomic sequencing. Moreover, the number of companies offering direct-to-consumer (DTC) genetic testing services has increased, offering consumers a wider range of options.
The marketplace is moderately fragmented, with a large number of medium and large-sized companies accounting for the majority revenue of the market. These entities are undertaking various strategic initiatives to strengthen their marketplace presence. For instance, in August 2021, Ancestry declared that it acquired a leading French genealogy company, Geneanet.
The market has significantly grown in the past few years due to the growing interest of consumers and healthcare providers in personalized genetic analysis. This is majorly due to the growing concerns about sedentary lifestyle and poor diet-related illness among the global population.
Companies are undertaking strategic initiatives to increase awareness among consumers about the benefits of genealogy examination. This, in turn, has developed DTC testing, one of the key applications of the consumer genomics field, to capture the wide interest of clinicians and customers.
Millions of users have used services provided by consumer genomics companies to learn about their ancestry, family tree, and risk of inherited disorders. DNA database of Ancestry DNA includes data of around three million people.
Recently, AncestryDNA announced that it has sold more than 3.5 million DNA test kits, whereas its competitor 23andMe reported 1 million members. In addition, around 15% (nearly 2.5 million subscribers) of total DNA kit customers are Ancestry subscribers who pay around USD 20.0 for access to Ancestry's research data and tools per month.
The COVID-19 pandemic had a significant impact on the DTC genetic testing market. There was a notable demand for at-home genetic testing during the pandemic. However, the at-home segment declined as the pandemic withered.
Companies Mentioned
- 23andMe
- Illumina, Inc.
- Family Tree DNA
- Ancestry
- Myriad Genetics, Inc.
- Genesis HealthCare
- EasyDNA
- Veritas
- Full Genomes Corporation, Inc
- Living DNA Ltd.
- Color Health, Inc.
Direct-to-Consumer Genetic Testing Market Report Highlights
- Predictive testing dominated the test type segment in 2022, which is attributable to its accessibility and affordability
- The whole genome sequencing segment dominated the market in 2022, owing to its comprehensive analysis which offers a wide range of genetic information
- Online platforms dominated the market in terms of total revenue in 2022, since this method provides a convenient and accessible way for consumers to purchase genetic tests
- North America held the largest share of the market in 2022 which can be attributed to favorable regulatory environments, advanced healthcare infrastructure, and high consumer awareness along with adoption
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.56 Billion |
| Forecasted Market Value (USD) by 2030 | $8.8 Billion |
| Compound Annual Growth Rate | 24.3% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Research Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 DTC Genetic Testing Market: Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Ancillary Market Outlook
3.2 Market Dynamics
3.2.1 Market Driver Impact Analysis
3.2.2 Market Restraint Impact Analysis
3.3 Industry Analysis
3.3.1 Porter's Five Forces Analysis
3.3.2 Pestel Analysis
3.4 COVID-19 Impact on DTC Genetic Testing Market
3.4.1 Activities By Market Players
3.4.2 Long-Term Changes In The Market
Chapter 4 DTC Genetic Testing Market: Test type Estimates & Trend Analysis
Chapter 5 DTC Genetic Testing Market: Technology Estimates & Trend Analysis
Chapter 6 DTC Genetic Testing Market: Distribution Channel Estimates & Trend Analysis
Chapter 7 DTC Genetic Testing Market: Regional Analysis
Chapter 8 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/94dw4v
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