DTC Genetic Testing Market size to exceed $10.5 Bn by 2032
Published Date: March 2023
Direct-to-Consumer Genetic Testing Market size is estimated to cross USD 10.5 billion by 2032, according to a new research report by Global Market Insights Inc.
The increasing awareness regarding the significance of DTC genetic tests will complement the industry outlook. The healthcare infrastructure across developed and developing countries have transformed significantly with the growing revenue for sophisticated medical tools and services. The soaring focus on meeting the medical needs of people has pushed several governments to launch supportive initiatives to spread the awareness and provide an overview of the DTC genetic tests.
Increasing scope in ancestry & relation testing to boost the demand for DTC genetic testing services
Direct-to-consumer genetic testing market valuation from ancestry & relation testing is poised to exceed USD 3.4 billion by the end of 2032. The steadily rising consumer interest in family history and lineage is fuelling the progression for DNA tests as they are designed for the identification of ancestry and relationship. A wide variety of genetic ancestry testing or genetic genealogy services, such as paternal or maternal lineage ancestry DNA tests, DNA starter ancestry tests, and GPS origins tests have lately grown popular.
Furthermore, the increasing use of DNA profiling procedures in the space of forensics for parentage testing will proliferate the preference for DTC genetic test kits.
Higher adoption of targeted analysis for user-friendly characteries to propel industry dynamics
The market expansion from the targeted analysis segment was valued at more than USD 1.2 billion in 2022. The growing emphasis on targeted analysis can be credited to its ability to identify specific variants or panels of variants in the DNA with enhanced speed, scalability, and resolution, allowing users to assess specific genes of interest.
Browse key industry insights spread across 190 pages with 300 market data tables & 16 figures & charts from the report, “Direct-to-Consumer (DTC) Genetic Testing Market Size By Test Type (Carrier Testing, Predictive Testing, Ancestry & Relationship Testing, Nutrigenomic Testing, Skincare Testing), By Technology (Targeted Analysis, Single Nucleotide Polymorphism (SNP) chips, Whole Genome Sequencing (WGS)), By Distribution Channel (Online Platforms, Over-the-Counter), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” In detail along with the table of contents: https://www.gminsights.com/industry-analysis/direct-to-consumer-dtc-genetic-testing-market
Rising digitization in healthcare to boost sales of DTC genetic tests across online platforms
Online platforms held more than 77% share of the DTC genetic testing market in 2022. Digitization of the healthcare sector, notably driven by the COVID-19 pandemic will play a pivotal role in the development for DTC genetic tests across online platforms. Moreover, the growing inclination towards e-commerce among consumers due to convenience, affordability, and availability of diverse products will further drive sales across online channels. Several market players are also leveraging the ongoing digital healthcare trends to foray into the e-commerce business and amplify accessibility to DTC genetic tests.
High prevalence of rare diseases to drive DTC genetic testing industry development in APAC
Asia Pacific DTC genetic testing market size is poised to record over 12.5% CAGR between 2023-2032 led by the growing patient pool of rare disorders. As a result, the scenario for DTC genetic testing has emerged stronger across APAC. The growing disposable income and the high prevalence of chronic illnesses such as cancer, and diabetes will also encourage consumers to switch to DTC genetic tests in the coming period.
Rise in product development efforts to augment DTC genetic testing market
Full Genome Corporation Inc., 23andMe, Inc., Ancestry, Counsyl, Gene by Gene, Easy DNA, Helix OpCo LLC, Living DNA Ltd., Karmagenes SA, Mapmygenome, Pathway genomics, Identigene, Genesis Healthcare Co., The SkinDNA Company Pty Ltd, MyHeritage, Ambry Genetics, DNA Genotek Inc, Dante Lab, Blueprint Genetics Oy, DNA Diagnostic Center, and HomeDNA are some of the leading companies in the global direct-to-consumer (DTC) genetic testing market.
