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Genealogy Products And Services Market Size, Growth Analysis, Share, Key Trends And Forecast To 2033
Genealogy Products And Services Market
As per the report, the genealogy products and services market size has grown rapidly in recent years. It will grow from $4.14 billion in 2023 to $4.61 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The genealogy products and services market size is expected to see rapid growth in the next few years. It will grow to $7.14 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%.
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Surging Demand For Genetic Testing Fuels Growth In Genealogy Products And Services Market
The surge in demand for genetic testing is expected to propel the growth of the genealogy products and services market going forward. Genetic testing involves analyzing DNA to identify changes or variations that may indicate genetic disorders, ancestry, or other traits. Genetic testing is growing due to expanding awareness about its potential benefits for health and ancestry. Genetic testing aids genealogy by providing individuals with insights into their ancestral origins, connecting them with relatives, and validating family history through DNA analysis. For instance, in December 2022, according to the Department of Health and Human Services Office of Inspector General, spending on four categories of expensive genetic tests rose sharply by 56% from $1.2 billion in 2020 to $1.9 billion in 2021, surpassing pre-pandemic levels. Therefore, surging demand for genetic testing is driving the growth of the genealogy products and services market.
Advanced Next-Generation Sequencing (NGS) Technologies Revolutionize Genealogy And Genetic Testing Industry
Major companies operating in the genealogy products and services market are focusing on developing advanced technologies, such as next-generation sequencing (NGS) tests, to offer more detailed and accurate genetic ancestry information, enabling deeper insights into familial lineage and heritage. The next-generation sequencing (NGS) test is a high-throughput DNA sequencing technology that enables rapid and comprehensive analysis of genetic material. For instance, in January 2024, Nonacus, a UK-based genetic testing products company, launched the GALEAS HereditaryPlus panel. The GALEAS HereditaryPlus test is a next-generation sequencing (NGS) test that analyzes 146 genes, aligning with ESMO and AMP guidelines for genetic testing in the EU and USA. It meets the UK's National Genomics Test Directory standards for detecting rare and inherited disorders, such as Lynch syndrome, rare hereditary cancers like phaeochromocytoma, and pediatric cancers, including Wilms tumor.
The genealogy products and services market covered in this report is segmented -
1) By Category: Family Records, Family Trees, Forums, Cemeteries, Newspapers, Blogs, Deoxyribonucleic Acid (DNA) Testing, Other Categories
2) By Application: Households, Institutions
3) By End-User: Direct-To-Consumer Testing Companies, Law Enforcement Agencies, Research Institutes And Academic Organizations, Other End-Users
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Major companies operating in the genealogy products and services market are Findmypast Limited, Ancestry.com LLC, 23andMe Inc., MyHeritage Ltd., Clooz, Family Tree Maker, Geneanet, Progeny Genealogy, ObitFinder, Geni.com, Family Tree DNA, Gene by Gene Ltd., Legacy Family Tree, GEDmatch, Ancestral Quest, BillionGraves Holdings Inc., Brother's Keeper, Fold3, GenealogyBank.com, Living DNA Ltd., RootsFinder, RootsMagic, WikiTree Inc
Contents of the report:
1. Executive Summary
2. Genealogy Products And Services Market Report Structure
3. Genealogy Products And Services Market Trends And Strategies
4. Genealogy Products And Services Market - Macro Economic Scenario
5. Genealogy Products And Services Market Size And Growth
…..
27. Genealogy Products And Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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