Global Direct-to-Consumer (DTC) Genetic Testing Market to Reach $2 Billion by 2026 | National News

SAN FRANCISCO, Aug. 6, 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: 17; Released: May 2021

Executive Pool: 676

Companies: 75 – 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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ABSTRACT-

Global Direct-to-Consumer (DTC) Genetic Testing Market to Reach $2 Billion by 2026

Direct-to-Consumer (DTC) Genetic Testing allows users to get the genetic information with partial or no involvement of healthcare providers. A relatively new and growing concept, Direct-to-Consumer Genetic Testing is a form of genetic testing which makes possible for an individual to obtain personal genetic information without needing to go through a healthcare provider. While traditional genetic testing involved healthcare provider (patient permitting) ordering requisite tests; DTC genetic testing, on the other hand, enables an individual to order a genetic test directly, bypassing the healthcare provider. These test kits are offered directly to consumers through over-the-counter or online channel, TV or other marketing site. DTC genetic tests leverage advanced sequencing technologies to test vulnerability of users for different disorders such as Alzheimer’s, diabetes, mental illness or heart disease. The testing also provides information about genetic aspects affecting response of the body to specific diets, caffeine, alcohol or pharmaceutical drugs. In addition, some of these tests offer information about genes related to male baldness, athletic performance and eye color. The availability of these tests through online channels has made it easy for consumers to access these kits.

Amid the COVID-19 crisis, the global market for Direct-to-Consumer (DTC) Genetic Testing estimated at US$1.1 Billion in the year 2020, is projected to reach a revised size of US$2 Billion by 2026, growing at a CAGR of 11.5% over the analysis period. Ancestry & Relationship Testing, one of the segments analyzed in the report, is projected to grow at a 9.1% CAGR to reach US$960.8 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 12.7% 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.

The U.S. Market is Estimated at $486.7 Million in 2021, While China is Forecast to Reach $149.6 Million by 2026

The Direct-to-Consumer (DTC) Genetic Testing market in the U.S. is estimated at US$486.7 Million in the year 2021. The country currently accounts for a 43.27% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$149.6 Million in the year 2026 trailing a CAGR of 14.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.5% and 12.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.8% CAGR while Rest of European market (as defined in the study) will reach US$173.3 Million by the end of the analysis period.

The market for DTC genetic testing is expected to pick up momentum, driven by the new advancements, increasing prevalence of various genetic disorders like Alzheimer’s, cystic fibrosis and cancer. In addition, more than 300 million individuals globally are suffering from rare diseases. These cases create the need for genetic tests for timely detection of genetic diseases. Despite concerns regarding data privacy and validity of results, DTC genetic testing continues to garner significant attention among consumers and is anticipated to eventually collide with conventional healthcare systems. The growth of DTC genetic testing market is facilitated by increasing adoption of personalized medicine for treating genetic diseases along with rising disposable income, healthcare expenditures and user awareness. A large number of people are using these tests to get genetic information for finding their genetic lineage as well as genetic predisposition to various conditions.

Another growth driving factors for the DTC genetic testing market include ageing population who display a tendency towards taking interest in their own healthcare, a fact compounded by the availability of genetic tests that can identify gene variations that enhance the risk of various old-age diseases, including Alzheimer’s; decreasing cost of ordering DTC genetic tests; and the privacy and anonymity that the technology offers. On the other hand, advances in healthcare demand efficient, safe genetic tests for offering analytically and clinically validates results. The market growth is also bolstered by increasing incidence of rare genetic diseases, technological advances allowing predictive analytics and strong demand for health & wellness-based genetic tests. Various companies are also offering nutrigenomics and lifestyle tests to help customers in making desirable changes to nutrition intake for health gains.

Predictive Testing Segment to Reach $389.7 Million by 2026

In the global Predictive Testing segment, USA, Canada, Japan, China and Europe will drive the 14.6% CAGR estimated for this segment. These regional markets accounted for a combined market size of US$152.5 Million in the year 2020. 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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About Global Industry Analysts, Inc. & StrategyR™

Global Industry Analysts, Inc., (www.strategyr.com ) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali

Director, Corporate Communications

Global Industry Analysts, Inc.

Phone: 1-408-528-9966

www.StrategyR.com

Email: [email protected]

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SOURCE Global Industry Analysts, Inc.

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