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2019 Industry Insights on Direct-to-Consumer (DTC) Genetic Testing Market | Key Players: 23andMe, Ancestry, EasyDNA, Family Tree DNA, Full Genomes, Inc., Genesis Healthcare System

01-29-2019 03:37 PM CET | Health & Medicine

Press release from: Global Market Insights, Inc

Direct-to-Consumer (DTC) Genetic Testing Market

Direct-to-Consumer (DTC) Genetic Testing Market

The Direct-to-Consumer (DTC) Genetic Testing Market is expected to witness more than 18.0% CAGR from 2018 to 2024. new research report by Global Market Insights.
DTC predictive testing segment accounted for USD 110.8 million revenue in 2017 and is expected to witness significant growth over the analysis timeframe. Ability of predictive tests to provide information regarding likelihood of acquiring certain diseases at a later stage in life increases its adoption among the consumers. Increasing awareness among people pertaining to early disease detection to undergo timely treatment and minimize the severity of diseases will further foster segment growth in the coming years.
Increasing prevalence of genetic diseases such as cancer worldwide is the key factor driving global direct-to-consumer (DTC) genetic testing industry growth. According to Global Genes, around 350 million people worldwide suffer from genetic and rare diseases. Direct-to-consumer genetic tests enable consumers to identify genetic predisposition to several genetic diseases. Rising adoption of DTC genetic testing for early disease detection and identification of genetic mutation preceding its manifestation will further accelerate the DTC genetic testing business growth over the forecast timeline.

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Growing patient demand for service personalization in developed economies such as North America and Europe will boost the demand for direct-to-consumer (DTC) genetic testing for detection of various genetic and rare diseases during the forecast period. Demand for service personalization to provide tailored medical treatment to individual patient based on their molecular basis is increasing in recent years. This reduces the risk of potential negative side effects triggered by medicines and treatments by prescribing medication specific to individual’s genetic makeup.

Moreover, adoption of DTC genetic testing to identify ancestral origins and explore them to undertake a precautionary preparation for healthcare and promote knowledge of genetic diseases will further spur the industry size. However, high cost of DTC genetic testing may hamper the industry growth to some extent in developing and under developed countries. Furthermore, defects in the testing kits that increase the risk associated with incorrect interpretations may further render negative impact on the DTC genetic testing industry growth.

DTC carrier testing segment is projected to show robust growth with a CAGR of 19.8% during the forecast period. Carrier testing is primarily done before or during pregnancy to determine whether an individual is a carrier of certain genetic disorders. As per the Centers for Disease Control and Prevention (CDC), each year about 3% of all the new-borns in the U.S. are affected by some or other birth defects resulting in infant mortality. This will increase the adoption of carrier testing among the pregnant women, to determine the risks of child inheriting one of genetic disorders after birth, thereby augmenting the segment growth.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
 23andMe
 Ancestry
 EasyDNA
 Family Tree DNA
 Full Genomes, Inc.
 Genesis Healthcare System
 Helix
 Identigene
 Karmagenes
 Living DNA
 Mapmygenome - Know Yourself
 MyHeritage
 Pathway Genomics Corporation

Single nucleotide polymorphism (SNP) chips segment will grow at a CAGR of 18.6% during the forecast years owing to rising prevalence of chronic and rare diseases across the globe. Growing reliance on SNP chips due to its ability to target approximately 1 million sites of known genetic variation will spur the market size in the coming years. Increasing usage of SNP chips to provide information about risk for common and rare diseases is expected to escalate the segment growth during the analysis period.

Whole genome sequencing (WGS) segment was valued at USD 77.8 million revenue in 2017 and will witness considerable growth by 2024. The segment growth is attributed to the ability of whole genome sequencing technology to examine entire human genome and provide information regarding majority of variation present in individual genome. However, high price associated with whole genome sequencing may impede the segment growth up to certain extent during the forthcoming years.
North America DTC genetic testing market dominated the global market with more than 38.0% revenue share in 2017 and is expected to witness similar trend over the analysis period. The high growth is attributable to growing incidence of genetic diseases including cancer, neurofibromatosis, spinal muscular atrophy and Turner syndrome in the region. Development of novel tests for prediction of potential allergies, responses to medications as well as risk of cardiovascular and other diseases will augment the demand for DTC genetic testing. Moreover, awareness among people pertaining to their health coupled with favourable regulatory scenario for direct-to-consumer (DTC) genetic testing will further foster market growth in the foreseeable future.

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Europe DTC genetic testing market is estimated to show lucrative CAGR of 18.3% over the forecast timeline attributable to rising prevalence of several types of cancers in the region. Hereditary cancer is one of the leading causes of morbidity and mortality in the region. DTC tests help in recognizing genetic predisposition to multiple diseases including cancer, diabetes and Alzheimer’s. Thus, adoption of direct-to-consumer (DTC) tests for early diagnosis and prevention of various genetic diseases should augment the regional growth during the forthcoming years.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

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