Direct to Consumer Genetic Testing Market (DTC) to hit US$ 611.2 Mn by 2026 | Size and Forecast | Credence Research
Jul 2, 2019
The worldwide market for direct-to-consumer genetic testing was estimated at US$ 117.1 million in 2017 and expected to reach US$ 611.2 million by 2026, with 19.4% CAGR from 2018 to 2026.
SANJOSE, United States - July 2, 2019 /MarketersMedia/ —
According to the latest report issued by Credence Research,"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 evaluated at US$ 117.1 million in 2017 and anticipated to touch US$ 611.2 million by 2026, growing at a CAGR of 19.4% from 2018 to 2026.
Market Insights
The global Direct-to-Consumer (DTC) genetic testing market is forecasted to grow with a double-digit CAGR of 19.4 percent over the projection period from 2018 to 2026. Increasing awareness about genome testing and genetic disease risk and increased inquisitivity about lineage and ancestry assessment are the major driving factors for the global market. Due to regulatory constraints, the global DTC genetic testing market has experienced extensive variations in terms of market value over the past ten years. With the rampant marketing 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 test results generated. However, the DTC genetic testing market is expected to experience lucrative growth during the forecast period with the revived approval of these products, supported by validating market player data in 2015.
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Based on the sales channel, the global market for direct-to-consumer genetic testing is segmented into online sales, OTC sales, and doctor's office. DTC genetic testing market sales are mainly driven by online sales, where the products are made available for purchase via the internet. Such products are available through online portals of manufacturers, thereby ensuring extensive cross-border outreach. According to the analysis, the online sales segment dominated the market in 2017 and expected to maintain its dominance over the forecast period.
Based on the business model, the global market for direct-to-consumer genetic testing is segmented into genome database material, individual health planning, comprehensive genome testing, medical precision testing, and restricted trait testing. Currently available DTC services include the screening of genetic data with information related to family lineage, identification of health risks and risk of acquiring hereditary diseases, report of genomic pattern and knowledge of personal traits. In terms of market value, the model of genome data bank material dominated the global DTC genetic testing market in 2017 and expected to witness perpetual lead throughout the forecast period.
Based on the geographical boundary, in 2017, North America led the global DTC genetic testing market with a market share of over 45 percent. Increasing awareness about the risk of genetic diseases and the growing proactive tendency among the public about chronic disease prevention and efficient management mainly drives the North American market. Also, inquisitiveness about lineage knowledge prominently determines the significant sales in this region. Moreover, Asia Pacific is estimated to be the fastest growing regional market during the forecast period, growing at a CAGR above 20 per cent. This region's growth is mainly attributed to the rapid evolution of healthcare infrastructure and increased awareness of the availability of such test kits. Key market players on the global DTC genetic testing market include deCODE genetics, Inc., Color Genomics, Inc., Gene By Gene, Ltd., Ancestry.com, Inc., Myriad Genetics, Inc., Genleven Oy, 23andMe, Inc., and CENTOGENE AG.
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Segmentation
By Sales Channel: Online Sales, OTC Sales, Doctor’s Office
By Business Model: Genome Data Bank Material Model, Individual Health Planning Model, Comprehensive Genome Tests Model, Medical Precision Tests Model, Restricted Trait Tests Model
ToC:
Chapter 1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase III-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted
Chapter 2. Executive Summary
..........
Chapter 3. Direct-to-Consumer Genetic Testing Market: Market Dynamics and Outlook
...........
Chapter 4. Direct-to-Consumer Genetic Testing Market, by Sales Channel, 2016 – 2026 (US$ Mn)
4.1. Preface
4.2. Online Sales
4.3. OTC Sales
4.4. Doctor’s Office
Chapter 5. Direct-to-Consumer Genetic Testing Market, by Business Model, 2016 – 2026 (US$ Mn)
5.1. Preface
5.2. Genome Data Bank Material Model
5.3. Individual Health Planning Model
5.4. Comprehensive Genome Tests Model
5.5. Medical Precision Tests Model
5.6. Restricted Trait Tests Model
Chapter 6. Direct-to-Consumer Genetic Testing Market, by Geography, 2016 – 2026 (US$ Mn)
.............
Chapter 7. Company Profiles
7.1. deCODE genetics, Inc.
7.1.1. Business Description
7.1.2. Financial Information (Subject to data availability)
7.1.3. Application Portfolio
7.1.4. Key Developments
7.2. Color Genomics, Inc.
7.3. Gene By Gene, Ltd.
7.4. Ancestry.com, Inc.
7.5. Myriad Genetics, Inc.
7.6. Genleven Oy
7.7. 23andMe, Inc.
7.8. CENTOGENE AG
................toc continued
Browse the full report Direct-to-Consumer (DTC) Genetic Testing Market: https://www.credenceresearch.com/report/direct-to-consumer-genetic-testing-market
About Us
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we've manufactured a firm extraordinarily prepared to this task.
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Source: MarketersMedia
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