Global Direct-to-Consumer Genetic Testing (DTC-GT) Market: Focus on Direct-to-Consumer Genetic Testing Market by Product Type, Distribution Channel, 15 Countries Mapping, and Competitive Landscape - Analysis and Forecast, 2019-2028
NEW YORK, May 22, 2019 /PRNewswire/ -- Global Direct-to-Consumer Genetic Testing Market to Reach $6.36 Billion by 2028
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The global direct-to-consumer genetic testing market consists of companies providing genetic testing services without the involvement of healthcare professionals.The DTC companies offer genetics testing services for ancestry, health and wellness and entertainment.
Recent trends with regard to extensive funding from various investors for the promotion of genetic testing, are significantly propelling the market. Moreover, owing to the emerging concept of consumer empowerment, the global direct-to-consumer genetic test market is witnessing a massive influx of new entrants in the industry.
With the reduction in time required for genetic sequencing at an affordable cost has increased the acceptance of DTC testing among the consumers. The DTC companies offer these genetic tests to their consumers through online channel and OTC channels, further making these tests easily accessible to the consumers around the globe.
The purpose of the study is to gain a holistic view of the global direct-to-consumer genetic testing market in terms of various factors influencing it, such as recent trends and technological advancements of the market.The scope of this report is centered upon conducting a detailed study of the products allied with the direct-to-consumer genetic testing market, which include health and wellness-, entertainment- and ancestry-based genetic tests.
The global direct-to-consumer genetic testing market is segmented into three different parts: by product-type, by distribution channel, and by region.The global market value was estimated on the basis of these three different approaches which were validated against one another.
These segments are further sub-segmented to ease the market estimation.The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions.
The research uncovers some of the substantial parameters that must be taken into consideration before entering into the market.
This research report aims at answering various aspects of the global direct-to-consumer genetic testing market with the help of the key factors driving the market, restraints that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.The report includes an in-depth examination of the key ecosystem players and key strategies and developments taking place in this market.
Moreover, the report includes chapters on market dynamics (market drivers, opportunities and challenges) and industry analysis as well.
The research study highlights the factors governing the industry attractiveness with Porter's Five Forces for a comprehensive understanding of the global direct-to-consumer genetic testing market, and assesses the factors governing the same. Moreover, the study includes detailed product mapping, market estimation, and analysis of key trends in multiple countries, growth of direct-to-consumer genetic testing market in each country, and the key strategies and developments by the prominent manufacturers.
The answers to the following key questions can be derived from this report:
• What are the major market drivers, challenges, and opportunities in the global direct-to-consumer genetic testing market?
• What are the underlying structures resulting in the emerging trends within the direct-to-consumer genetic testing industry?
• What was the market value of the leading segments and sub-segments of the global direct-to-consumer genetic testing market in 2018?
• How is each segment of the global direct-to-consumer genetic testing market expected to grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2028?
• What are the influencing factors that may affect the market share of the key players?
• How is the industry expected to evolve during the forecast period 2019- 2028?
• What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
• What are the key product type in the global direct-to-consumer genetic testing market? What are the major benefits of each type?
• What are the key distribution channel in the global direct-to-consumer genetic testing market? What are the major benefits of each type?
• What is the market share of each of the companies in the global direct-to-consumer genetic testing market and what are their contributions?
• Who are the key manufacturers in global direct-to-consumer genetic testing market, and what are their contributions?
The key players who have significant contributions to the direct-to-consumer genetic testing market are 23andme Inc., 24Genetics, Ancestry.com LLC, Atlas Biomed, Chengdu 23Mofang Biotechnology Co., Ltd., Dante Labs, Inc., EasyDNA, FamilyTreeDNA, Genebase Systems, Mapmygenome and MyHeritage Ltd. among others.
Executive Summary
The global direct-to-consumer market was valued at approximately $824.1 million in 2018 and is anticipated to reach $6,364.5 million by 2028. The rise in the public awareness along with the reduced cost and time required for sequencing owing to the technological advancements is responsible for bolstering the industry demand and aiding in reduction of the global healthcare expenditure. Furthermore, the recent developments in the regulatory pathway for the utilization of direct-to-consumer genetic tests for medical and research purposes have increased the acceptance of direct-to-consumer genetic testing.
Owing to the need for precision medicine, the genetic testing industry has been witnessing a surge in demand for genetic testing.The increased prevalence of genetic diseases such as cancer, Parkinson's disease and rare diseases has led to the growth of global direct-to-consumer genetic testing market.
The direct-to-consumer genetic testing does not follow traditional genetic regulations, wherein the consumer could directly order sample collection test kit online via company's website and get an access to their genomic information by providing the sample of saliva or a cotton swab.Currently, the market is developing on regulations specific for direct-to-consumer genetic tests.
The direct-to-consumer genetic testing enables the consumer to get tailor-made recommendation as per their genetic profile, further helping to reduce the potential risk of the conventional treatment.Adoption of the direct-to-consumer genetic testing has also lead to the framing of regulatory pathway for these tests along with the government initiations to raise the awareness among the consumers regarding these tests.
These factors are expected to boost the growth of the industry in the forecast time. The emergence of direct-to-consumer genetic testing has enabled consumers to identify genetic diseases through genetic health risk tests and carrier predisposition tests. The direct-to-consumer genetic testing market also offers pharmacogenomics, nutrigenomics, ancestry and microbiome testing. The advent of the advanced genetic testing has improved the diagnosis and treatment, as well as enabled the genetic testing companies to meet the regulatory compliance, as well as to manage their profit margins.
The purpose of the study is to gain a holistic view of the global direct-to-consumer genetic testing market in terms of various factors influencing it, such as recent trends and technological advancements in the market.The scope of this report is centered upon conducting a detailed study of the products allied with the direct-to-consumer genetic testing market, which include health and wellness-, entertainment- and ancestry-based genetic tests.
The global direct-to-consumer genetic testing market is segmented into three different parts: by product-type, by distribution channel, and by region.The global market value was estimated on the basis of these three different approaches which were validated against one another.
These segments are further sub-segmented to ease the market estimation.
With the increasing demand for personalized medicine, increasing incidence of chronic and rare diseases, technological advancements in sequencing industry and new product launches by several conglomerate companies, the global direct-to-consumer genetic testing market is expected to witness high growth.Moreover, the ancestry-based genetic test sub-segment dominated the global direct-to-consumer genetic testing market in 2018 in terms of products.
However, the health and wellness genetic test segment is anticipated to witness the highest CAGR in the forecast period from 2019 to 2028. Besides the health-based genetic test, entertainment segment is also expected to witness impressive CAGR in the forecast period 2019-2028.
The global direct-to-consumer genetic testing market is segmented on the basis of geographical regions into North America, Europe, Asia-Pacific, Latin America and Rest-of-the-World (RoW).North America is the leading contributor in the global direct-to-consumer genetic testing market.
However, the Rest-of-the-World is expected to grow at a CAGR of 17.93% in the forecast period 2019-2028. The global direct-to-consumer genetic testing market is majorly dominated by the U.S. The U.S.-based company 23andme contributed approximately more than 20% of the market value in 2018.
The key players who have significant contributions to the direct-to-consumer genetic testing market are 23andme Inc., 24Genetics, Ancestry.com LLC, Atlas Biomed, Chengdu 23Mofang Biotechnology Co., Ltd., Dante Labs, Inc., EasyDNA, FamilyTreeDNA, Genebase Systems, Mapmygenome and MyHeritage Ltd. among others.
Countries Covered
• North America
• The U.S.
• Canada
• Europe
• Germany
• France
• The U.K.
• Italy
• Spain
• Asia-Pacific (APAC)
• China
• Japan
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Rest-of-Latin America (RoLA)
• Rest-of-the-World
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