|02-11-2019 07:20 PM CET - Health & Medicine||
Direct-to-Consumer (DTC) Genetic Testing Market| Key Players: 23andMe, AncestryProGenealogists, Color Genomics
Press release from: Global Market Insights
Direct-to-Consumer (DTC) Genetic Testing Market is set to exceed USD 2.5 billion by 2024; according to a new research report by Global Market Insights. Growing incidences of genetic and rare disorders worldwide coupled with wide applications of direct-to-consumer genetic testing in early detection and prevention of oncology as well as other genetic diseases will drive the DTC genetic testing market growth in the coming years.
Rising awareness among patients pertaining to early disease diagnosis will result in timely treatment and reduced mortality rate. Additionally, technological innovations in direct-to-consumer genetic testing to offer enhanced efficiency, high sensitivity and accuracy will serve to be a significant impact rendering factor. Moreover, increasing adoption of carrier testing at a very early stage of pregnancy will further augment the business growth during forecast period.
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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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Color Genomics
• Family Tree DNA
• Full Genomes, Inc.
• Genesis Healthcare System
• Karmagenes SA
• Living DNA
• Pathway Genomics Corporation
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.
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.
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U.S. direct-to-consumer genetic testing market accounted for more than 91% revenue share of total North America Market in 2017 and will show robust growth over the analysis period. The growth is attributed to the rising incidences of genetic diseases in the country, high awareness among people regarding genetic testing as well as technological advancements. Moreover, regulatory support for direct to consumer genetic testing coupled with high healthcare spending will boost the business growth over the forecast timeline.
Direct-to-Consumer Genetic Testing Market, by Test Type (USD Million) (000’ Units)
o Carrier testing
o Predictive testing
o Ancestry and relationship testing
o Nutrigenomics testing
Direct-to-Consumer Genetic Testing Market, by Technology (USD Million)
o Targeted analysis
o Single nucleotide polymorphism (SNP) chips
o Whole genome sequencing (WGS)
Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.
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This release was published on openPR.
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