Consumer Genomics Market 2028 Growing Worldwide By Best Key players- Ancestry; Gene By Gene, Ltd. (FamilyTree DNA); 23andMe, Inc.; Color Genomics, Inc; Myriad Genetics, Inc; Mapmygenome; Positive Biosciences, Ltd; Futura Genetics; Helix OpCo LLC; MyHeritage Ltd.; Pathway Genomics; Veritas

 

The global consumer genomics market size is projected to reach USD 8.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 19.4% from 2021 to 2028. Technological advances in genetic research have helped to raise awareness among physicians as well as consumers pertaining to the use of gene-based testing.

Genomics testing enables the determination of common traits by studying a DNA molecule, predictions about health, and offers evidence of a person’s ancestry. Several companies are providing DNA tests directly to customers by which they have access to their genetic information without involving the healthcare professional. Rising awareness about DNA testing has driven the adoption rate, which in turn provides healthy growth prospects for the implementation of DNA tests in home settings.

The continuously declining costs of genotyping have resulted in direct-to-consumer services becoming more accessible to the average consumer as DNA testing services are delivered by key companies. Many key participants are focusing majorly on building partnerships and collaborations with physicians and healthcare systems to inflate their current marketplace.

The Direct-to-Consumer (DTC) testing market has significantly grown in the past few years due to the growing interest of consumers and healthcare providers in personalized genetic analysis. This is majorly due to the growing concerns pertaining to sedentary lifestyles and poor diet-related illness among the global population.

Customers and physicians are adopting genealogy services to gain knowledge about their ancestors and to locate family members. The consumer gene testing companies are undertaking strategic initiatives to grow awareness among consumers about genealogy testing. This, in turn, has eventually developed genealogy testing, one of the key applications of the consumer genomics field, to capture the wide interest of clinicians and customers. This rise in awareness related to genealogy testing has resulted in the increased adoption of consumer genomics.

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A rise in the adoption of consumer genomics for COVID-19 research is anticipated to drive the market. In April 2020, AncestryDNA announced to use its consumer genomics database (with the patient’s consent) to explore potential genetic cues for COVID-19. In July 2020, the study announced that the IVNS1ABP gene region in males is associated with COVID-19 susceptibility. This also explained the harsh effects of the viral disease in males as compared to females.

Consumer Genomics Market Report Highlights

• The genetic relatedness segment accounted for the largest revenue generation in 2020 and is anticipated to remain dominant throughout the forecast period
• Genetic relatedness involves the determination of hereditary or the genetic transfer of traits from parents to their offspring
• These tests help analyze repetitive DNA regions known as short tandem repeats for the determination of a likelihood of paternity
• The lifestyle, wellness, and nutrition segment is expected to witness the fastest CAGR as consumer genomics tests are claimed to provide personalized nutrition based on an individual’s genotype
• For patients with rare genetic disorders such as galactosemia and lactose intolerance, a customized diet is recommended
• Growing public interest for personalized health has fueled the adoption of nutrigenetic testing services, specifically for optimizing nutrition
• Hence, personalized nutrition is employed to maintain or improve health by using genetic, clinical, and dietary information to provide precise and more efficacious personalized healthy recommendations
• North America is estimated to capture the largest market share owing to the local presence of key industry participants such as 23andMe and AncestryDNA, and the commercialization of FDA approved kits 
• Due to growing investments and skills, in Asia Pacific, the market is expected to grow with the fastest CAGR
• This can majorly be attributed to the advent of knowledge-based innovations and entry of investors focused on personalized genetic screening as well as the presence of research funding agencies

Expansion of the application areas of DTC genetic tests is a high-impact rendering market driver. Genetic testing involves a wide range of services such as data security, identification of ancestors, race, and the nature of family, which increases its usage in clinical practices. Thus, the adoption of genetic testing is increasing. In addition, robust consumer genetics tests are used in clinical, genealogical, and forensic areas. A large number of companies are offering DTC tests that could be implemented in ongoing research, sports, nutrition, and other fields.

Companies such as 23andMe, bio.logis Genetic Information Management (GIM) GmbH and DNA Testing Centers of Canada deliver carrier screening tests kits in clinical settings. Similarly, My Gene Diet, Smart DNA, and Halo Health International offer tailored diet services and food plans. The trend of DTC personalized genomic testing is continuously rising due to the low cost of different tests ranging from USD 99 to over USD 2000.

Furthermore, it does not require the involvement of a healthcare provider. In addition, direct access to DTC genomic test results will empower users to gain knowledge about themselves and assist them in making proactive decisions, such as behavioral change and lifestyle. Thus, these factors have led to the adoption of DTC personalized genomics. The rapid growth of the genetic testing industry has also resulted in a higher number of customers opting for online genetic testing.

List of Key Players of Consumer Genomics Market

• Ancestry
• Gene By Gene, Ltd. (FamilyTree DNA)
• 23andMe, Inc.
• Color Genomics, Inc
• Myriad Genetics, Inc
• Mapmygenome
• Positive Biosciences, Ltd
• Futura Genetics
• Helix OpCo LLC
• MyHeritage Ltd.
• Pathway Genomics
• Veritas
• Amgen, Inc.
• Xcode Life