GLOBAL CONSUMER GENOMICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Global Consumer Genomics Market Size and Trends

The global consumer genomics market size is valued at US$ 1.23 Bn in 2023 and is expected to reach US$ 4.38 Bn by 2030, grow at a compound annual growth rate (CAGR) of 19.9% from 2023 to 2030.

Global Consumer Genomics Market Trends:

• Direct-to-consumer model gaining traction: The direct-to-consumer model, where companies provide genetic testing directly to customers without requiring a physician order, is gaining significant traction in the global consumer genomics market. This model offers increased accessibility and convenience for consumers, as they can order genetic testing kits online and receive the results directly.
• Customers increasingly preferring non-invasive sample collection methods: The trend of customers preferring non-invasive sample collection methods is having a significant influence on the global consumer genomics market. Traditionally, DNA collection involved drawing blood samples through a process that many people found unpleasant or uncomfortable. However, with new technologies, alternatives have emerged that avoid invasive blood collection. Companies are now offering options like saliva collection kits that allow customers to simply spit into a tube from the comfort of their own home. This makes the process much more user-friendly and appealing to a wider range of potential customers. No longer are medical personnel or equipment required to draw blood. Customers have full control over sample collection in a private setting without clinical associations. This increased convenience and ease of sample gathering have helped to drive more customers to try consumer genetics services out of curiosity to learn about their ancestry, health risks and other attributes revealed by DNA analysis.
• Increased partnership: Increasing adoption of inorganic growth strategies such as partnership by the key players in the market is expected to drive the growth of the market over the forecast period. For instance, on November 23, 2023, Complete Genomics and Basepair, Inc., a life science company, announced a technology integration partnership to accelerate the analysis and interpretation of genomic data generated by Complete Genomics' DNBSEQTM sequencing platforms. The partnership gives Complete Genomics' customers the ability for seamless access to Basepair's bioinformatics platform deployed on Amazon Web Services (AWS) and use its easy-to-use point & click user interface to launch and orchestrate NGS workflows in the cloud, either by provisioning in their own accounts or via Basepair's hosted service.