Dublin, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The "Direct-to-Consumer (DTC) Genetic Testing - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Direct-to-Consumer (DTC) Genetic Testing is estimated at US$1.3 Billion in 2023 and is projected to reach US$3.4 Billion by 2030, growing at a CAGR of 14.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the DTC genetic testing market is driven by several factors. A key driver is the increasing consumer interest in personalized health and wellness. As people become more proactive about their health, they seek detailed information that could guide their lifestyle choices and medical decisions. Technological advancements that enhance the accuracy and depth of genetic analysis further stimulate market growth.
Moreover, the growing trend of preventive healthcare and the potential of genetic testing to contribute to early disease detection and management attract more consumers. Regulatory developments also play a significant role, as clearer guidelines and approvals from bodies like the FDA boost consumer confidence in the validity and reliability of these tests.
Additionally, marketing strategies that emphasize the empowerment of individuals to manage their health independently resonate strongly with modern healthcare consumers, who are increasingly inclined to take control of their health data and choices. As a result, the DTC genetic testing market continues to expand, driven by both technological innovation and evolving consumer behavior.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Direct-to-Consumer (DTC) Genetic Testing Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Direct-to-Consumer (DTC) Genetic Testing Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Single Nucleotide Polymorphism (SNP) Chips Technology segment, which is expected to reach US$1.6 Billion by 2030 with a CAGR of a 13.8%. The Targeted Analysis Technology segment is also set to grow at 15.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $535.4 Million in 2023, and China, forecasted to grow at an impressive 16.9% CAGR to reach $269.8 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Ambry Genetics, 23andMe, Inc., Ancestry.com LLC, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 324 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.3 Billion |
| Forecasted Market Value (USD) by 2030 | $3.4 Billion |
| Compound Annual Growth Rate | 14.2% |
| Regions Covered | Global |
MARKET OVERVIEW
- A Prelude to Genetic Testing
- Top Ten Genetic Diseases Worldwide
- Different Types of Genetic Tests include
- List of Genetic Disorders by Event, Genetic Manifestation and Prevalence
- Direct-to-Consumer (DTC) Genetic Testing - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- A Prelude to Direct-to-Consumer (DTC) Genetic Testing
- Pros and Cons of Direct-to-Consumer (DTC) Genetic Testing
- Health Information provided by DTC genetic Tests
- DTC Genetic Tests' Limitations
- Market Segments
- Ancestry Tests
- Predictive Tests
- Carrier Tests
- Nutrigenomics Tests
- Market Prospects and Outlook
- US and Europe Dominate the Global DTC Genetic Tests Market
- Ancestry Testing Holds Major Share, Predictive Testing Witnesses Rapid Growth
- Competitive Scenario
- Recent Market Activity
- Changing Landscape of DTC Genetic Testing
- Regulations to Determine Market Viability
- US FDA Regulations for DTC Genetic Testing
- Data Privacy Concerns to Challenge Market Prospects
MARKET TRENDS & DRIVERS
- Consumers Self-Managing Treatments: The New Trend Driving the DTC Genetic Testing Market
- DTC Genetic Testing Players Join War against COVID-19
- DTC Genetic Tests for Cancer Susceptibility
- Advances in Genome Sequencing
- Next-Generation Sequencing (NGS) Aids DTC Genetic Testing Market
- DTC Genetic Testing Presents Lucrative Personalization Opportunities
- Growing Focus on Service Personalization Generates Opportunities for DTC Genetic Tests
- Immense Popularity of Ancestry Testing
- Emergence of DNA-based Nutrition Plans Put the Spotlight on DTC Nutrigenetics Testing
- Biomarker Discovery Leads to Advanced Genetic Testing
- Select List of Available Tumor Markers
- Hybrid Approach of Genetic Testing to Bridge Gap Between Traditional and DTC Models
- Oncology - A Key Focus Area for Genetic Testing
- Ageing Demographics to Drive Demand for Genetic Testing
- Increased Demand for Online Sales of DTC Genetic Tests
- Use of Artificial Intelligence Adds Value to DTC Genetic Testing Market
FOCUS ON SELECT PLAYERS(Total 81 Featured)
- Ambry Genetics
- 23andMe, Inc.
- Ancestry.com LLC
- Any Lab Test Now
- Color Genomics, Inc.
- Direct Laboratory Services LLC (DirectLabs)
- DNA Diagnostics Center
- Anglia DNA Services
- Centrillion Technologies, Inc.,
- Dante Labs, Inc.
- Asper Biogene LLC
- Bou Trade Labs, S.L (24 genetics)
- African Ancestry, Inc.
- Chengdu 23Mofang Biotechnology Co., Ltd.
- Atlas Biomed Group Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/2guw8p
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