Press release
The genealogy products and services market is projected to reach $10.13 billion by 2032, growing at a CAGR of 11.2%.
The genealogy products and services market was valued at USD 3.50 billion in 2022. It is projected to register a CAGR of 11.2%, growing from USD 3.88 billion in 2023 to USD 10.13 billion by 2032.
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What Are Genealogy Products & Services?
Genealogy products and services encompass tools and expertise for tracing family history, including DNA testing, family tree software, historical records, and expert research services, all aimed at uncovering ancestral roots and understanding family heritage. Genealogy is the study of family history and the tracing of lineages, involving researching historical records and analyzing genetic information to understand ancestry and family connections.
It aims to uncover ancestral roots, understand family history, preserve cultural heritage, and potentially identify hereditary health conditions. Online forums and social media groups connect genealogists, allowing them to share knowledge, ask questions, and collaborate on research projects.
Growth Drivers
• The rise of genetic testing in preventive healthcare for accurately diagnosing several rare diseases is fueling market demand.
• The rapid expansion of preventive healthcare worldwide is contributing to the growth of the genealogy products & services market.
• The ongoing rise in the prevalence of chronic diseases globally is also driving market growth through the advancing field of pharmacogenomics.
• The market is being propelled by the rapid advancements in DNA testing technology and the online availability of these services.
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Key Players in Market
The market for genealogy products & services is fragmented, with numerous major players intensely concentrating on diversifying their product ranges to thrive and endure. A few of the major participants in the market are:
23 and Me
American Elements
Ancestry.Com
Billion Graves
CK Life Sciences International Holdings Inc.
FamilySearch
Findmypast
GenealogyBank
Geneanet
Infosa
K + S AG
Living DNA
Mitsui Co. Ltd.
MyHeritage
WikiTree
Regional Analysis:
North America Leads the Global Market in 2022
North America dominated the global genealogy products and services market in 2022. This growth is primarily driven by the region's well-developed healthcare infrastructure and rapid adoption of advanced technologies in the healthcare sector. Additionally, the widespread availability of innovative and cost-effective genealogy products, along with an increasing number of individuals opting for genetic testing, further supports market expansion.
For example, a report published by PubMed Central revealed that as of November 2022, a total of 129,624 genetic tests had been developed and submitted to the U.S. genetic testing registry. Additionally, 37,124 clinical tests were conducted across 200 laboratories in the United States, according to data from the interactive database.
Asia Pacific Poised for Rapid Growth
The Asia Pacific region is expected to witness significant market growth due to its large and growing population, which results in a higher prevalence of genetic disorders. Additionally, the region's accelerating urbanization has led to increased awareness of genealogy products and their potential benefits.
For instance, our research indicates that India's population has increased by over 1 billion since 1950, reaching approximately 1.4 billion. By the end of this decade, India's population is projected to surpass 1.5 billion, further fueling demand for genealogy products and services.
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Segmental Overview
• The genealogy products & services market is segmented based on application, category, and region.
• By category, the family records segment held a significant market share due to a growing number of individuals and families interested in safeguarding their family heritage for future generations.
• Based on application, the households segment is expected to experience the highest CAGR during the forecast period, fueled by the drastic increase in the number of families and individuals showing a keen interest in their ancestral origins.
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