DTC Genetic Testing Market will corss $2,500 million by 2025
North America DTC genetic testing market will register around 14% growth throughout the analysis period owing to favorable regulatory scenario. Regulatory bodies such as FDA frame laws that ensures availability of superior quality DTC genetic tests. Moreover, growing inclination of people towards the personalized medicines in the U.S. as well as Canada further boosts the regional growth.
Global Direct-to-Consumer Genetic Testing Market is set to achieve over 15% CAGR from 2019 to 2025; as per a new research report published by Global Market Insights, Inc. Growing income level globally will boost the demand for direct to consumer genetic testing kits thereby, escalating industry growth. Increase in income level subsequently elevates healthcare expenditures that proves beneficial for industry growth. According to CDC, 2017 witnessed drastic increase in number of people opting direct to consumer genetic testing. This rise in the customer base for DTC genetic tests can be attributed to increase in income level, awareness and reduced prices. However, defects in DTC genetic testing kits may hamper business growth to certain extent.
Rising incidences of genetic disorder will positively impact DTC genetic testing market growth in forthcoming years. Significant increase in prevalence of genetic diseases such as sickle cell anemia, haemophilia, thalassemia, Tay Sachs disease, cystic fibrosis and Huntington’s disease will surge demand for DTC genetic testing kits. According to WHO, about 72,000 people in the U.S. alone are affected from sickle cell anemia annually. Demand for direct to consumer testing kits has increased as it enables customers to access detailed information pertaining to genetic variation associated with these diseases.
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Ancestry and relationship testing segment will experience around 13% growth in the coming years as these tests give detailed and accurate information regarding ethnic background of an individual. Moreover, recently developed ancestry DTC tests bridges gap between health-related genetic testing and ancestry genetic testing. Availability of such ancestry DTC tests will spur the segmental growth in coming years.
Targeted analysis segment of direct-to-consumer genetic testing market accounted for over 37% revenue share in 2018 owing to its increasing demand in genome analysis. Several benefits of targeted analysis include specificity, scalability and cost-effectiveness. Since, this technology has numerous advantages as compared to the other technologies such as Single Nucleotide Polymorphism (SNP) its adoption will remain high throughout the forecast period.
Prominent industry players operational in DTC genetic testing market include 23andMe, Full Genomes, Ancestry, Color, Helix, Karmagenes, MapMyGenome, Family Tree DNA, EasyDNA, Helix, Identigene, Genesis HealthCare, Karmagenes, MyHeritage, Living DNA and Pathway Genomics.