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Direct-to-Consumer (DTC) Genetic Testing Market set for massive growth 2018-2024

Author : Rahul Sankrityayan | Published Date : 2019-04-15 

The Direct-to-Consumer (DTC) Genetic Testing Market is set to exceed USD 2.5 billion by 2024; according to a new research report by Global Market Insights. Growing patient demand for service personalization in developed economies such as North America and Europe will boost the demand for DTC genetic testing for detection of various genetic and rare diseases during the forecast period. Demand for service personalization to provide tailored medical treatment to individual patient based on their molecular basis is increasing in recent years. This reduces the risk of potential negative side effects triggered by medicines and treatments by prescribing medication specific to individual’s genetic makeup.

Increasing prevalence of genetic diseases such as cancer worldwide is the key factor driving global direct-to-consumer genetic testing industry growth. According to Global Genes, around 350 million people worldwide suffer from genetic and rare diseases. Direct-to-consumer genetic tests enable consumers to identify genetic predisposition to several genetic diseases. Rising adoption of DTC genetic testing for early disease detection and identification of genetic mutation preceding its manifestation will further accelerate the DTC genetic testing business growth over the forecast timeline.

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Moreover, adoption of DTC genetic testing to identify ancestral origins and explore them to undertake a precautionary preparation for healthcare and promote knowledge of genetic diseases will further spur the industry size. However, high cost of DTC genetic testing may hamper the industry growth to some extent in developing and under developed countries. Furthermore, defects in the testing kits that increase the risk associated with incorrect interpretations may further render negative impact on the DTC genetic testing industry growth. 

Predictive testing segment held USD 110.8 million revenue in 2017 and will witness robust growth in the coming years. Predictive tests enables identification of genetic mutation before actual manifestation resulting in early disease diagnosis. Diagnosis of chronic disease such as cancer at an early stage can make significant improvements in the lives of cancer patients resulting in reduced morbidity, greater probability of surviving and less expensive treatment. As per the Institute for Health Metrics and Evaluation (IHME), approximately 8.9 million cancer deaths were noted during 2016, wherein more than 5% of all the cancers globally were caused due to inheriting genetic mutation. Growing prevalence of cancer globally will augment the segment growth over the analysis timeframe.
 
Targeted analysis technology segment accounted for considerable revenue share in 2017 and is projected to show lucrative 17.6% CAGR during the forthcoming years. The segmental growth is attributed to growing advancements in technology for diagnosis of various chronic diseases. Increasing adoption of targeted analysis in genetic testing for cardiomyopathy to assess coding regions of more than 50 genes will further boost the market growth.  Hence, availability of such advanced technologies will accelerate the segment growth during the forecast period.

U.S. DTC genetic testing market accounted for more than 91% revenue share of total North America Market in 2017 and will show robust growth over the analysis period. The growth is attributed to the rising incidences of genetic diseases in the country, high awareness among people regarding genetic testing as well as technological advancements. Moreover, regulatory support for direct to consumer genetic testing coupled with high healthcare spending will boost the business growth over the forecast timeline.
 
Japan direct-to-consumer genetic testing market held considerable revenue in 2017 and is estimated to grow at 18.2% CAGR by 2024. Increasing government investment in R&D, rapid technological advancements, availability of new tests as well as large patient pool in the country will surge the demand for DTC genetic testing in early disease diagnosis. Furthermore, increasing prevalence of cancer and other genetically inherited diseases coupled with increasing healthcare expenditure will further drive the Japan DTC genetic testing market.

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Some of the key industry players operating in global DTC genetic testing market are 23andMe, Ancestry, Color, EasyDNA, Family Tree DNA, Full Genomes, Genesis HealthCare, Helix, Identigene, Karmagenes, Living DNA, MapMyGenome, MyHeritage and Pathway Genomics. Industry players primarily focus on strategic expansion through mergers, collaborations and acquisitions that help the players to strengthen their market position and enhance existing product portfolio.

Direct-to-Consumer Genetic Testing Market, by Test Type (USD Million) (000’ Units)

Carrier testing
Predictive testing
Ancestry and relationship testing
Nutrigenomics testing

Direct-to-Consumer Genetic Testing Market, by Technology (USD Million)

Targeted analysis
Single nucleotide polymorphism (SNP) chips
Whole genome sequencing (WGS)

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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