SAN FRANCISCO, Sept. 14, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Direct-to-Consumer (DTC) Genetic Testing - Global Market Trajectory & Analytics" . The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE Edition: 18; Released: September 2021 Executive Pool: 691 Companies: 81 - Players covered include 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 and Others. Coverage: All major geographies and key segments Segments: Test Type (Ancestry & Relationship Testing, Nutrigenomics Testing, Predictive Testing, Carrier Testing, Other Test Types); Technology (Single Nucleotide Polymorphism (SNP) Chips, Targeted Analysis, Whole Genome Sequencing (WGS)); Distribution Channel (Online, Over-the-Counter) Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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Global Direct-to-Consumer (DTC) Genetic Testing Market to Reach US$1.9 Billion by the Year 2026Genomic testing is a revolutionary tool and offers a broad range of applications such as diagnosis of infectious diseases, treatment selection for cancer patients, non-invasive prenatal testing, among others. Growth in the global is being driven by new technological advances and rising prevalence of many genetic disorders such as diabetes, cancer, cystic fibrosis, and Alzheimer's disease globally. Factors such as real time drug discovery, cutting-edge diagnostic methods, and advanced treatments will propel market growth. Increasing user awareness, disposable income, and healthcare expenditure combined with rising adoption of customized medicine to treat genetic disease are other factors driving growth in the market. Public awareness regarding the availability of DTC genetic testing in developing as well as developed countries is continually rising. Leading market players like Ancestry and 23andMe are focusing on offering high-quality DTC genetic testing solutions that ensure accurate and effective test results. Growing awareness among Europeans and Americans regarding racial testing is also driving market demand. Another key driver in the DTC genetic testing market includes elderly consumers who take a keen interest in their healthcare, which is intensified by access to genetic test kits that can detect genes whose variations are associated with an increased risk of developing an age-related disease such as Alzheimer's.
Amid the COVID-19 crisis, the global market for Direct-to-Consumer (DTC) Genetic Testing estimated at US$971.7 Million in the year 2020, is projected to reach a revised size of US$1.9 Billion by 2026, growing at a CAGR of 12.3% over the analysis period. Ancestry & Relationship Testing, one of the segments analyzed in the report, is projected to grow at a 9.8% CAGR to reach US$915.4 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nutrigenomics Testing segment is readjusted to a revised 13.6% 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. Ancestry & relationship testing is the most prevalent test type, and the segment is slated to benefit from recent advances that are likely to link ancestry testing with health-related genetic testing. Nutrigenomics testing is used by healthcare professionals to suggest personalized diet and nutritional guidance to overweight people to maintain a healthy lifestyle and manage weight. The segment's growth is propelled by rising prevalence of obesity and increasing R&D related to nutritional aspects.
The U.S. Market is Estimated at $440.2 Million in 2021, While China is Forecast to Reach $149.8 Million by 2026The Direct-to-Consumer (DTC) Genetic Testing market in the U.S. is estimated at US$440.2 Million in the year 2021. The country currently accounts for a 43% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$149.8 Million in the year 2026 trailing a CAGR of 15.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.3% and 13.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.6% CAGR while Rest of European market (as defined in the study) will reach US$170.8 Million by the end of the analysis period. The US dominates market growth due to the increased awareness about genetic diseases among general populace, growing tendency among general public to identify early and either prevent or provide management of various chronic diseases as well as technical and scientific advancements made in the field of medicine and science in general. Additionally, the regulatory mechanism in the US is relatively better streamlined compared to other markets. Europe represents the next leading market for DTC genetic testing. The market is fueled by increasing healthcare spending by various governments to ensure easy access to advanced genetic tests.
Predictive Testing Segment to Reach $373.2 Million by 2026The predictive testing market is recording strong growth, driven by exponential growth in the number of diseases and medical conditions that are identifiable through genetic modalities, surging from a mere 90-100 diseases in the early 1990s, to about 1,800 to 2,000 conditions in the present day. In the global Predictive Testing segment, USA, Canada, Japan, China and Europe will drive the 16.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$134.3 Million in the year 2020 will reach a projected size of US$371 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$20.3 Million by the year 2026. More
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