Home >> News >> Direct-to-Consumer (DTC) Genetic Testing Market Is Expected To Reach US$ 611.2 Mn by 2026 | Credence Research

Direct-to-Consumer (DTC) Genetic Testing Market Is Expected To Reach US$ 611.2 Mn by 2026 | Credence Research

According to the latest report published by Acute Market Reports, Inc. “Direct-to-Consumer (DTC) Genetic Testing Market Growth, Future Prospects, and Competitive Analysis, 2018-2026,” The global market for direct-to-consumer genetic testing was estimated at US$ 117.1 million in 2017 and is expected to reach US$ 611.2 million by 2026, increasing to CAGR by 19.4 percent from 2018 to 2026.

Market Insights

The global market for Direct-to-Consumer (DTC) genetic testing is projected to grow with a double-digit CAGR of 19.4% over the forecast period from 2018 to 2026. Raising awareness of genome testing and the risk of genetic diseases and increasing inquisitivity about the assessment of lineage and ancestry are key drivers for the global market. Over the last 10 years, due to regulatory constraints, the global market for DTC genetic testing has experienced significant variations in market value. With the rampant commercialization of DTC genetic testing products in the U.S., the market was to be established until the FDA ordered the manufacturers to withdraw the products due to the potential health consequences of the test results. However, with the revived approval of these products, supported by validation data from market players in 2015, the market for DTC genetic testing is estimated to experience lucrative growth during the forecast period.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/direct-to-consumer-genetic-testing-market

Based on the sales channel, the global market for direct-to-consumer genetic testing is segmented into on-line sales, OTC sales, and the doctor’s office. DTC genetic testing market sales are primarily driven by online sales, where products are made available for sale on the Internet. These products are made available through the manufacturer’s online portals, ensuring a broad cross-border outreach. According to the analysis, the on-line sales segment dominated the market in 2017 and is expected to remain dominant during the forecast period.

Based on the business model, the global market for direct-to-consumer genetic testing is segmented into genome data bank material, individual health planning, comprehensive genome testing, medical precision testing and restricted trait testing. Currently available DTC services include testing of ancestry data with family lineage information, identification of health risks and risk of developing hereditary diseases, information on genomic patterns and knowledge of personal traits. In terms of market value, the genome data bank material model dominated the global market for DTC genetic testing in 2017 and is expected to be a perpetual leader throughout the forecast period.

Based on the geographical demarcation, North America led the global market for DTC genetic testing in 2017, with a market share of over 45 percent. Increasing public awareness of the risk of genetic diseases and a growing proactive tendency towards prevention and effective management of chronic diseases drives the North American market in particular. In addition, the inquisitivity about the knowledge of lineage also significantly determines the significant sales in this region. Moreover, Asia Pacific is estimated to be the fastest-growing regional market in the forecast period, growing at a CAGR of more than 20%. The growth of this region is mainly due to the rapid evolution of the healthcare infrastructure and increasing awareness of the availability of such test kits.

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List of Companies Covered:

  • deCODE genetics, Inc.
  • Color Genomics, Inc.
  • Gene By Gene, Ltd.
  • Ancestry.com, Inc.
  • Myriad Genetics, Inc.
  • Genleven Oy
  • 23andMe, Inc.
  • CENTOGENE AG

Market Segmentation:

By Sales Channel Segment

  • Online Sales
  • OTC Sales
  • Doctor’s Office

By Business Model Segment

  • Genome Data Bank Material Model
  • Individual Health Planning Model
  • Comprehensive Genome Tests Model
  • Medical Precision Tests Model
  • Restricted Trait Tests Model

By Geography Segment Type

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

Key questions answered in this report

  • What are the current market trends in the DTC genetic testing market and valuable opportunities for the players?
  • How the regulatory framework affects the global as well as the regional markets?
  • Which are the prominent sales-generating channels for the players?
  • Which is the most successful business model implemented in the market?
  • How does the FDA approval of products affect the global market?
  • What are the market size and trends in emerging markets such as Japan, Latin, and America?

Access Free Sample Copy of Research Report: https://www.acutemarketreports.com/sample-request/57820

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