U.S. Direct-to-Consumer Genetic Testing Market to Hit $890 Million by 2025: Global Market Insights, Inc.
SELBYVILLE, Del. , October 2, 2019 (Newswire.com) - The U.S. Direct-to-Consumer Genetic Testing Market is poised to cross USD $890 million by 2025, according to a new research report by Global Market Insights, Inc. Rising adoption of and demand for DTC genetic tests, coupled with technological advancements, will drive the U.S. Direct-to-Consumer genetic testing market. Numerous advantages of personalized medications, including the monitoring of genetics and patients' unique molecular profile to enhance patient health will prove beneficial for business growth. Direct-to-Consumer genetic testing helps in the formulation of personalized medication for patients suffering from melanoma, breast cancer, as well as other genetic diseases. Increasing the prevalence of these diseases will generate huge demand for direct-to-consumer genetic tests over the analysis period.
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Increasing incidences of genetic disorders, especially in North America, will escalate the demand for direct-to-consumer genetic testing. The high prevalence of genetic diseases, such as achondroplasia, breast cancer and colorectal cancer and others, will positively impact the business growth over the coming years. According to data published by American Cancer Society, Inc. in 2019, colorectal cancer is the third most frequently diagnosed cancer in women and men in the U.S. The FDA has approved a direct-to-consumer genetic test for a hereditary form of colorectal cancer by 23andMe. The increasing prevalence of such diseases, coupled with the advent of direct-to-consumer genetic tests, will augment the industry's growth. However, defects in the genetic tests may impede U.S. direct-to-consumer genetic testing market growth during the analysis timeframe.
The predictive testing segment of U.S. direct-to-consumer genetic testing market was valued at around USD $50 million in 2018, owing to the advent of technologically upgraded platforms to perform genome analysis. Predictive testing is a type of presymptomatic testing that shows the chances of acquiring a disease before the onset of symptoms. This allows effective management of the condition. These factors should propel the predictive testing segment's growth in the years to come.
Browse key industry insights spread across 56 pages with five market data tables and seven figures and charts from the report, “U.S. Direct-To-Consumer Genetic Testing Market Size By Type (Carrier Testing, Predictive Testing, Ancestry & Relationship Testing, Nutrigenomics Testing), By Technology (Targeted Analysis, Single Nucleotide Polymorphism (SNP) Chips, Whole Genome Sequencing (WGS)), Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2019-2025” in detail, along with the table of contents:
The single nucleotide polymorphism (SNP) chips segment and U.S. DTC genetic testing market accounted for around 50% of the revenue share in 2018 and will show robust growth from 2018 to 2025. The majority of the companies that provide DTC genetic tests utilize SNP genotyping technology, enabling accurate classification of genomes that help in the detection of various genetic diseases, such as sickle cell anemia. Thus, the increasing demand for (SNP) chips will foster the at-home genetic testing market growth in near future.
Prominent industry players functioning in U.S. direct-to-consumer genetic testing market include Pathway Genomics, Ancestry, 23andMe, Color Genomics, FamilytreeDNA, Identigene, Helix OpCo, EasyDNA, Full Genome, Living DNA, Karmagenes, and MyHeritage. Several initiatives undertaken by market players, such as mergers and collaborations to sustain a business, will prove beneficial for industry growth. For instance, in October 2018, 23andme received its first U.S. FDA approval for de novo technology used in pharmacogenomic tests. Such new product approvals will enable the company to extend its offerings in direct-to-consumer genetic testing business.
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Browse Related Reports:
Direct-to-Consumer Genetic Testing Market 2019-2025: The utrigenomics testing segment held more than 170 million revenue in 2018 and is expected to witness robust growth in near future. Nutrigenomic tests study patient’s DNA to analyze intricate relationship between nutrition, gene and health. Some of the key players operating in the global market are EasyDNA, 23andMe, Ancestry, Color, Full Genomes, Genesis HealthCare, Helix, Identigene, Karmagenes, Living DNA, MapMyGenome, Family Tree DNA, Pathway Genomics and MyHeritage.
Genetic Testing Market Statistics 2019-2025: The cancer diagnosis segment of the genetic testing market is anticipated to witness more than 12% growth over the forecast timeframe. Significant growth can be attributed to the rising prevalence of oncological disorders. Some of the notable industry players operational in the market are Abbott Molecular, Biocartis, DiagnosticsBioHelix, Counsyl, Genentech, Genomic Health, HTG Molecular Diagnostics, Celera Genomics, Bayer BioMerieux, LabCorp Diagnostics, Myriad, PacBio, 23andMe, Genomictree, MolecularMD, Pathway Genomics, Qiagen, Roche Diagnostics, Natera, Cepheid, BGI, Luminex, IntegraGen, Siemens, deCODEme and Sequenom.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.