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Direct-to-Consumer Genetic Testing Market 2018-2024 Size| Key Players: 23andMe, AncestryProGenealogists, Color Genomics, EasyDNA, Family Tree DNA

04-29-2019 05:27 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 set to exceed USD 2.5 billion by 2024; according to a new research report by Global Market Insights. Growing patient demand for service personalization in developed economies such as North America and Europe will boost the demand for 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.

Increasing prevalence of genetic diseases such as cancer worldwide is the key factor driving global direct-to-consumer 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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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.

Predictive testing segment held USD 110.8 million revenue in 2017 and will witness robust growth in the coming years. Predictive tests enables identification of genetic mutation before actual manifestation resulting in early disease diagnosis. Diagnosis of chronic disease such as cancer at an early stage can make significant improvements in the lives of cancer patients resulting in reduced morbidity, greater probability of surviving and less expensive treatment. As per the Institute for Health Metrics and Evaluation (IHME), approximately 8.9 million cancer deaths were noted during 2016, wherein more than 5% of all the cancers globally were caused due to inheriting genetic mutation. Growing prevalence of cancer globally will augment the segment growth over the analysis timeframe.

Targeted analysis technology segment accounted for considerable revenue share in 2017 and is projected to show lucrative 17.6% CAGR during the forthcoming years. The segmental growth is attributed to growing advancements in technology for diagnosis of various chronic diseases. Increasing adoption of targeted analysis in genetic testing for cardiomyopathy to assess coding regions of more than 50 genes will further boost the market growth. Hence, availability of such advanced technologies will accelerate the segment growth during the forecast period.

U.S. DTC 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.

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Chapter 1. Methodology

1.1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Paid sources
1.4.1.2. Unpaid sources
1.4.2. Primary

Chapter 2. Executive Summary

2.1. Direct-to-consumer (DTC) genetic testing industry 360º synopsis, 2014 - 2024
2.1.1. Business trends
2.1.2. Test type trends
2.1.3. Technology trends
2.1.4. Regional trends

Browse Full Report Details @ https://www.gminsights.com/industry-analysis/direct-to-consumer-dtc-genetic-testing-market

Chapter 3. Direct-to-Consumer (DTC) Genetic Testing Industry Insights

3.1. Industry segmentation
3.2. Industry landscape, 2014 - 2024
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Rising public awareness in North America
3.3.1.2. Increasing income level in emerging economies
3.3.1.3. Growing incidences of genetic disorders globally
3.3.1.4. Increasing demand for service personalization in North America and Europe
3.3.2. Industry pitfalls & challenges
3.3.2.1. High cost of DTC genetic testing
3.3.2.2. Defects in the DTC testing kits

Data Tables

TABLE 1. Direct-to-Consumer (DTC) genetic testing industry 360° synopsis, 2014 - 2024
TABLE 2. Global direct-to-consumer (DTC) genetic testing market, 2014 - 2024 (USD Million)
TABLE 3. Global direct-to-consumer (DTC) genetic testing market, 2014 - 2024 (000’ Units)
TABLE 4. Global direct-to-consumer (DTC) genetic testing market, by test type, 2014 - 2024 (USD Million)
TABLE 5. Global direct-to-consumer (DTC) genetic testing market, by test type, 2014 - 2024 (000’ Units)
TABLE 6. Global direct-to-consumer (DTC) genetic testing market, by technology, 2014 - 2024 (USD Million)
TABLE 7. Global direct-to-consumer (DTC) genetic testing market, by region, 2014 - 2024 (USD Million)
TABLE 8. Global direct-to-consumer (DTC) genetic testing market, by region, 2014 - 2024 (000’ Units)
TABLE 9. Carrier testing market by region, 2014 - 2024 (USD Million)
TABLE 10. Carrier testing market by region, 2014 - 2024 (000’ Units)

Related Report- Point of Care Molecular Diagnostics Market Know more@ https://www.marketwatch.com/press-release/an-overview-of-point-of-care-molecular-diagnostics-market-in-terms-of-latest-innovations-2017-2024-2019-04-29

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.

Global Market Insights, Inc.
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