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Rising public awareness regarding DTC genetic tests is a key factor driving market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, April 20, 2023 /EINPresswire.com/ -- The global Direct-To-Consumer (DTC) genetic testing market size was USD 1.29 Billion in 2021 and is expected to register a revenue CAGR of 13.3% during the forecast period, according to latest analysis by Emergen Research. Market revenue growth is primarily driven by factors such as increasing public awareness of DTC genetic tests, rising income levels in emerging economies, expanding demand for customized DTC genetic services, and rising occurrences of genetic disorders worldwide.Customers who have purchased a test kit can expect to receive their results via a secure website, mobile app, or written report within a few days of sending off their DNA sample to the company. Individuals can get their genetic information through direct-to-consumer genetic testing without going through a doctor or insurance company first.

Direct-To-Consumer Genetic Testing Market, By Test Type (Carrier Testing and Predictive Testing), By Technology (Targeted Analysis and Whole Genome Sequencing), and By Region Forecast to 2030 Increasing demand for DTC genetic tests will drive market expansion, as consumers are prepared to pay for identification and treatment of specific requirements. Direct-to-consumer genetic testing will grow in part because of rising interest in pharmacogenetics.

One of the numerous benefits of genetic testing is availability of customized information on illness risk, health, and other qualities. Genetic testing also serves to enhance public awareness of inherited disorders and enable consumers to take a more proactive approach to their health.These tests ensure accurate and timely genetic testing findings. Moreover, people purchase DTC genetic testing kits because they want to discover more about their family tree than just their own unique perspectives and migration patterns.

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Market Dynamics:

In the study, the Direct-to-Consumer market is split into two parts based on the different types of goods, applications, end-user industries, and key areas of the world where the market is already well-established. The report gives accurate information about the amount of production and consumption in each area, as well as the amount of supply and demand.

The direct-to-consumer genetic testing market is a fast-growing business in which genetic testing is sold directly to consumers without the help of medical experts. People can buy a testing kit online or in a store, take a sample (usually saliva), and send it to the testing company's lab for analysis.

Competitive Landscape:

The competitive landscape is made up of both well-known companies and new ones that are just starting out. Each has its own product and business plan. As more and more people want to get genetic tests, the market is expected to keep growing, with new companies entering and established ones expanding to meet the growing demand.

The report also has a thorough review of the competitive landscape. This section gives a full look at company profiles, product profiles, production capacities, products/services, pricing analysis, profit margins, and improvements to the manufacturing process.

Additional information offered by the report:

Along with a full overview of the global Direct-to-Consumer Genetic Testing market, the study gives a thorough look at the different market trends seen at both the regional and global levels.

The study gives more information about the global Direct-to-Consumer Genetic Testing market's size and share in the major areas.

It does an accurate estimate of how the market will grow, a cost analysis, and a study of both small and large economic factors.

It also gives a full look at the company profiles of the biggest players in the business.

Key Companies Profiled in the Report:

23andMe, Full Genome Corporation, Color Genomics, Genesis Healthcare, Helix OpCo LLC, FamilyTreeDNA, MyHeritage, Identigene, Pathway genomics, and Living DNA, among others

Radical Highlights of the Direct-to-Consumer Genetic Testing Market Report:

Full study and overview of the Direct-to-Consumer Genetic Testing market, including how it is changing.

Growth During the forecast, evaluation of a number of market groups

Regional and international analysis of the market players, including market share and world standing

To deal with the effects of the COVID-19 pandemic on the market, key market players have used growth strategies.

Information about how the biggest businesses and manufacturers in the industry make money and grow.

To know more about the report, visit @ https://www.emergenresearch.com/industry-report/direct-to-consumer-genetic-testing-market

SECONDARY RESEARCH MODEL
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources, annual report of companies, SEC filings, government press release, pricing databases and many more.

A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are referred thoroughly to have a comprehensive idea of the market taxonomy.

PRIMARY RESEARCH MODEL
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts. Discussions with the subject matter experts were conducted to obtain quantitative and qualitative information and validate our market research findings.

Direct-to-Consumer Genetic Testing Market Segmentation:

Test Type Outlook (Revenue, USD Billion; 2019-2030)
Carrier Testing

Predictive Testing

Ancestry & Relationship Testing

Nutrigenomics testing

Skin-care

Others

Technology Outlook (Revenue, USD Billion; 2019-2030)
Targeted Analysis

Whole Genome Sequencing

Single Nucleotide Polymorphism Chips

Regional Outlook (Revenue, USD Billion; 2019-2030)
North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Table of Content
Chapter 1. Methodology & Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

1.4.1. Primary

1.4.2. Secondary

1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2022–2030

Chapter 3. Key Insights

Chapter 4. Direct-to-Consumer Genetic Testing Market Segmentation & Impact Analysis

4.1. Direct-to-Consumer Genetic Testing Market Segmentation Analysis

4.2. Industrial Outlook

4.2.1. Market indicators analysis

4.2.2. Market drivers’ analysis

4.2.2.1. Rising public awareness regarding DTC genetic tests

4.2.2.2. Surging income level in emerging economies

4.2.2.3. Increasing demand for personalized DTC genetic services 

4.2.2.4. Growing incidences of genetic disorders globally 

Regional Segmentation;

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Emergen Research
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