Direct-to-Consumer Genetic Testing Market to reach over USD 7.08 billion by the year 2030

Market Synopsis-
The newly published report titled "Global Ready-to-Drinks (RTDs) Alcohol Market By (Product Type (Ancestry, Health And Wellness, And Entertainment), Technology (Targeted Analysis, Single Nucleotide Polymorphisms (Snps), And Whole Genome Sequencing (WGS)), Distribution Channels (Online Channels And Over-The-Counter Channels)) - By Trends, Industry Competition Analysis, Covid-19 Analysis, Revenue (US$ Billions) and Forecast Till 2030." of InsightAce Analytic Pvt. Ltd. features detailed industry analysis and an extensive study on the market, exploring its significant factors.

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The worldwide direct-to-consumer genetic testing market is projected to reach over USD 7.08 billion by 2030, exhibiting a CAGR of 19.51% during the forecast period.

Genetic testing describes medical treatments that look at changes in genes, chromosomes, or proteins to either establish or refute the existence of a genetic condition or calculate a person's likelihood of having one. Customers may be able to acquire genetic tests through direct-to-consumer genetic testing with little to no involvement from outside healthcare providers. Over the anticipated timeframe, rising public awareness of the accessibility of direct-to-consumer genetic tests in both developed and developing countries will fuel market expansion. Prominent direct-to-consumer genetic testing options have become the attention of major industry players. These tests guarantee accurate and reliable genetic test results. The global Direct-To-Consumer (DTC) Genetic Testing Market is driven by this. Additionally, businesses like 23andMe have made special marketing efforts to advertise their direct-to-consumer genetic tests through offline and online retail pharmacies. Additionally, companies advertise their goods with appealing discounts and promotional offers. These factors are anticipated to stimulate the global Direct-To-Consumer (DTC) Genetic Testing Market. The favourable development chances are due to technological advancements, improvements in genome sequencing technology, and unrealized potential in emerging markets.

List of Prominent Players in the Direct-to-Consumer Genetic Testing Market:
23andme Inc.
24Genetics
Ancestry.com LLC
Atlas Biomed
Color Genomics
DNAfit
Gene by Gene
Chengdu Twenty-Three Rubik's Cube Biotechnology Co., Ltd.
EasyDNA
Mapmygenome
MyHeritage Ltd.
Laboratory Corporation of America Holdings
Myriad Genetics, Inc.
Konica Minolta, Inc.
XCODE Life

Market Dynamics:
Drivers-
To receive a skilled medical expert's interpretation of the results of a genetic test, patients or healthy individuals must consult that specialist. Direct-to-consumer (DTC) genetic testing equipment has made this procedure no longer essential or voluntary. This has made testing substantially less expensive and more readily available to potential patients. The market is expanding significantly due to rising health awareness, particularly in developed nations like the U.S., Canada, and the U.K., as well as rising chronic diseases, including cancer, Alzheimer's disease, and Parkinson's disease. Genetic testing can provide individualized information on health, disease risk, and other traits and increase public awareness of genetic disorders. It might make it possible for customers to approach their health more proactively. DNA samples are typically collected painlessly and non-intrusively, and the results are typically accessible right away. The direct-to-consumer genetic testing market is expanding due to these considerations.

Challenges:
Direct-to-consumer genetic testing, however, can only provide people with a bare-bones understanding of their health. Numerous diseases that are not detected by genetic testing are affected by additional genetic and environmental variables, lifestyle choices, and family medical history. Therefore, it is more troublesome than if no decisions were made when patients base important decisions about disease treatment or prevention on information from their test results. Additionally, genetic privacy may be compromised if testing companies unlawfully use their clients' genetic data or if the data is stolen. It may also restrict the user's eligibility for long-term care, disability benefits, or life insurance.

Regional Trends:
In the forecast period, the North American industry to have a major market share and is forecast to increase significantly in the future. Rising public awareness about direct-to-consumer genetic tests is responsible for the high regional growth in the United States and Canada. Additionally, increased internet usage among households in populated areas of the nation will benefit market expansion. Similarly, a more efficient regulatory framework in the area will encourage market expansion. Furthermore, strict guidelines by regulatory agencies like the FDA regarding best practices and reporting information concerning adverse occurrences connected to these test kits are expected to support the country's economic growth. All of these causes increase the need for direct-to-consumer genetic testing. Asia Pacific is anticipated to have the greatest CAGR over the forecast years due to China's increased demand for genetic testing, sequencing, and bioinformatics developments. Additionally, the market is growing due to rising demand for pharmaceuticals to treat rare diseases and technological advancements brought on by the combination of next-generation sequencing and companion diagnostics in this industry.

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Recent Developments:
In January 2022, 23andMe Holding Co., leading consumer genetics and research firm stated that the FDA had approved a genetic health risk report on a hereditary prostate cancer marker. This is 23andMe's third 510(k) approval from the FDA (k). It also has four De Novo clearances, one of which was for the BRCA1/BRCA2 report from the company. In 2019, a third cancer-risk detection report was approved, which discovered two variations in the MUTYH gene associated with an elevated risk of colorectal cancer.
In August 2021, Ancestry, a global pioneer in family history, announced the acquisition of Geneanet, a well-known French genealogy company. Ancestry, which has over 30 billion records from over 80 countries, assists clients in discovering new details about their family histories and relatives.

Segmentation of Direct-to-Consumer Genetic Testing Market-
By Product Type
Ancestry
Health and Wellness
Entertainment

By Technology
Targeted Analysis
Single Nucleotide Polymorphisms (SNPs)
Whole Genome Sequencing (WGS)

By Distribution Channel-
Online Channel
Over-the-Counter Channel

By Region-
North America-
oUS
oCanada
oMexico

Europe-
oGermany
oUK
oFrance
oItaly
oSpain
Rest of Europe

Asia-Pacific-
oChina
oJapan
oIndia
oSouth Korea
oSouth East Asia
oRest of Asia Pacific

Latin America-
oBrazil
oArgentina
oRest of Latin America
 Middle East & Africa-
oGCC Countries
oSouth Africa
oRest of the Middle East and Africa

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This release was published on openPR.