Genetic Testing at Home
From Cultural Curiosity to Health Necessity in COVID
WELLESLEY, Mass., October 30, 2020 (Newswire.com) - The global direct to consumer (DTC) genetic testing market is estimated to be $1.1 billion in 2020 and is growing at a CAGR (compound annual growth rate) of 17.7% to reach a forecast value of $2.6 billion in 2025, according to the BCC Research report, Direct to Consumer Genetic Testing.
Direct to consumer DTC genetic testing has evolved over the past ten years, with a broad swing away from family ancestry and towards health information. Hence there is increasing partnership between DTC companies and health systems.
Those same ten years have also seen an exponential rise in advances in personal genomics, both in capabilities and efficiencies. Thirdly, the decade has been one of unprecedented rise in online transactions of all stripes, especially health transactions.
More recent history has amplified the signal. Polymerase chain reaction (PCR)-based tests include those for COVID-19. This is a newly emerging market, pioneered by the Phosphorus and Albertsons companies, who formed an alliance in September 2020. This led to an FDA-authorized at-home SARS-CoV-2 saliva test kit available in thousands of in-store pharmacies in the US. The PCR technology platform has a CAGR of 118% 2020 to 2025, dramatically outpacing other major platforms.
Read the full report here: https://corporate.bccresearch.com/market-research/medical-devices-and-surgical/dna-testing-market.html?ur=MDS008A
About BCC Research
BCC Research publishes market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering current and emerging industrial and technology sectors. For more information about BCC Research, visit bccresearch.com.
Source: BCC Research
