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Genetic Genealogy Market Know the Scope and Trends
The Global Genetic Genealogy Market is estimated to reach over USD 2187.61 Mn by 2034, exhibiting a CAGR of 8.5% during the forecast period.
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The genetic genealogy market is projected to experience substantial growth over the forecast period. Genetic genealogy, also known as genetic ancestry testing, is a captivating field that delves into the study of family histories and the tracing of genealogical lineages. It involves a detailed process of examining historical records and exploring them to uncover unique insights, which can then be woven into compelling life stories. This thorough exploration offers valuable understanding of the origins, lifestyles, and cultural practices of our ancestors.
The growing popularity of genealogy products and services has significantly contributed to the expansion of the genealogy sector. Additionally, the rapid growth of the genealogy industry is driven by the increasing demand for genetic and DNA testing across various industries, including healthcare and ancestry research.
List of Prominent Players in the Genetic Genealogy Market:
• 23&Me Inc.
• Ancestry.com
• Color Genomics
• DNASolves
• FamilySearch
• Findmypast
• Gencove
• Geneanet
• Helix
• Living DNA
• MNG Laboratories
• MTDNA
• MyHeritage,
• Myriad Genetics
• Sequencing. Com
• Veritas Genetics
• YFull
Market Dynamics:
Drivers-
DNA testing offers individuals the opportunity to trace their ancestry, identify long-lost relatives, and gain a deeper understanding of their genetic heritage. In addition to its genealogical benefits, DNA testing plays a crucial role in detecting viruses and life-threatening conditions such as cancer. It also aids in resolving legal matters, such as establishing biological parentage. Furthermore, DNA testing provides comprehensive insights into genetic predispositions related to health, exercise, and nutrition, facilitating personalized lifestyle adjustments and health assessments.
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Challenges:
While the burgeoning field of genetic genealogy testing offers individuals unprecedented insights into their lineage and familial connections, it also raises significant concerns regarding the potential misuse of sensitive genetic information. If not adequately addressed, these concerns could hinder the growth of the genetic genealogy testing market.
Regional Trends:
North America is expected to dominate the genetic genealogy market, driven by the presence of major market players and a robust healthcare infrastructure. The region's rapid market expansion is further supported by significant economic growth and substantial investments from leading companies. Additionally, increased consumer awareness of the benefits of high-quality care, coupled with favorable reimbursement policies for healthcare services, has contributed to the continued growth of the market.
Recent Developments:
• In December 2022, Prenetics Global Limited acquired a majority stake in ACT Genomics Holdings Company Limited ("ACT"), a genomics company with operations in Hong Kong, Taiwan, Japan, Singapore, Thailand, and the UK that is based in Asia and specializes in precision oncology.
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Segmentation of Genetic Genealogy Market-
By Test Type-
• Autosomal DNA Tests
• Y-Chromosome DNA Tests
• Mitochondrial DNA Tests
By Application-
• Heredity & Genetic Disorders
• Paternal/Maternal Lineages
• Ancestral Origins
By End-User-
• Direct-To-Customer Testing Companies
• Law Enforcement Agencies
• Research Institutes & Academic Organizations
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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