Press release
Genealogy Products And Services Market Poised for 11.4 % Growth, Set to Hit $42.76 Billion by 2029
Genealogy Products And Services Market Size
In recent times, the genealogy products and services market has experienced a quick expansion. Its size will increase from $4.61 billion in 2024 to $5.15 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 11.8%. The impressive growth in the historic period is due to factors such as increased interest in genetic information related to health, influence of celebrities, media exposure, amplified marketing and awareness initiatives, advanced data analysis algorithms, and the rising fame of direct-to-consumer genetic testing.
The market size for genealogy products and services is projected to experience a significant expansion in the coming years, ballooning to a substantial $7.94 billion by 2029, with a steady compound annual growth rate (CAGR) of 11.4%. The primary drivers for this growth during the forecast period are attributed to the increasing curiosity in ancestry and lineage amongst consumers, a heightened understanding of genetic health threats, the widespread expansion of online genealogical repositories, surging demand for direct-to-consumer genetic evaluations, and an increasing curiosity in health-linked genetic data. The forecast period will see prominent trends such as the incorporation of artificial intelligence (AI), the extensive application of blockchain technology, conjunction with wearable tech, the enhancement of worldwide genetic data banks, and improved ancestral attribute examination.
What Are the Key Drivers Behind the Growth of the Genealogy Products And Services Market?
The escalation in the need for genetic testing is set to boost the expansion of the genealogy products and services market. Genetic testing, which involves the examination of DNA to detect changes or variations indicative of genetic disorders, ancestry, or additional traits, is on the rise. This increase can be attributed to growing awareness about the potential health and ancestry benefits it offers. Genealogical pursuits benefit from genetic testing, as it grants individuals a glimpse into their ancestral lineage, links them with distant relatives, and verifies family history through DNA scrutiny. For example, the National Library of Medicine, a government organization based in the US, reported in April 2023 that as of November 2022 there were 76,302 active genetic tests worldwide and 37,271 in the United States. As a result, the burgeoning demand for genetic testing is fueling the growth of the genealogy products and services market.
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Who Are the Major Industry Players Fueling Genealogy Products And Services Market Expansion?
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
Which Key Developments Are Influencing the Genealogy Products And Services Market?
Major players in the genealogy products and services industry are increasingly focusing on the advancement of technologies like next-generation sequencing (NGS) tests. The aim is to deliver more precise and exhaustive genetic ancestry data, which can reveal deeper insights about one's family tree and lineage. The NGS test is a high-processing DNA sequencing technology that accommodates a quick yet thorough analysis of genetic content. For example, in January 2024, a genetic testing products firm based in the UK, Nonacus, introduced the GALEAS HereditaryPlus panel. This NGS-based test checks 146 genes, in compliance with the ESMO and AMP guidelines for genetic testing in the EU and USA. Moreover, it is in line with the UK's National Genomics Test Directory standards for identifying rare, inherited disorders. This encompasses Lynch syndrome, unusual inherited cancers such as phaeochromocytoma, and childhood cancers like Wilms tumor.
How Is the Segmentation of the Genealogy Products And Services Market Defined?
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
Subsegments:
1) By Family Records: Birth Records, Marriage Records, Death Records, Census Records, Immigration and Naturalization Records
2) By Family Trees: Online Family Tree Software, Family Tree Books and Charts, Family Tree Consulting Services
3) By Forums: Genealogy Discussion Forums, Ancestry Group Communities, Online Family Research Forums
4) By Cemeteries: Cemetery Records, Burial and Gravestone Information, Cemetery Plot Searching Services
5) By Newspapers: Obituaries, Historical Newspaper Archives, Local News and Events Archives
6) By Blogs: Personal Genealogy Blogs, Ancestral Research Blogs, DNA Testing Blogs
7) By Deoxyribonucleic Acid (DNA) Testing: Y-DNA Testing, Mitochondrial DNA Testing, Autosomal DNA Testing, Ancestry DNA Testing Kits
8) By Other Categories: Genealogy Software, Historical Research Services, Family History Books and Publications, Genealogical Consultation Services
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What Is the Leading Region in the Genealogy Products And Services Market?
North America was the largest region in the genealogy products and services market in 2023. The regions covered in the genealogy products and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Genealogy Products And Services Global Market Report?
- Market Size Analysis: Analyze the Genealogy Products And Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Genealogy Products And Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Genealogy Products And Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Genealogy Products And Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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