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

Direct-to-consumer genetic tests (DTC-GT) are genetic tests sold directly to consumers to provide information about their genetic information (generally ancestry, some health traits, and health risks) from a saliva sample. Three main categories of genetic testing are currently available: clinic-based, direct-to-consumer, and provider-mediated genetic testing. Clinic-based genetic testing is ordered, interpreted, and disclosed by a physician or other healthcare professional through a traditional healthcare professional-patient relationship. Standard-of-care approaches to clinic-based genetic testing involve a pre-test consultation to identify and document potential genetic risk factors, select the most appropriate test, and discuss the benefits and limitations of testing to facilitate informed consent from the patient. By analyzing an individual's DNA, companies can provide insights into genetic heritage and lineage, often with geographic detailing. Some services interpret genetic variations to provide information on predispositions to certain health conditions, potential reactions to certain drugs (pharmacogenomics), and suggestions for lifestyle or nutrition. Rapid advancements in genomics technologies have made genetic testing more affordable and accessible, encouraging consumer adoption. There has been a surge in the popularity of direct-to-consumer (DTC) genetic testing kits as consumers seek convenient health insights without visiting healthcare facilities. People are increasingly interested in identifying potential health risks and taking preventive measures, which often involves genetic testing.

Market Dynamics:

The increasing adoption of inorganic growth strategies such as partnerships by the key players in the market is expected to drive the growth of the market over the forecast period. For instance, in January 2022, the American Society of Human Genetics (ASHG) announced the launch of the ASHG Genetics and Genomics Impact Partnerships program. Illumina, a leader in next-generation genomic sequencing technologies, and Invitae, a leading medical genetics company, have joined as founding partners of ASHG Genetics and Genomics Impact Partnerships program.

Key features of the study:

• This report provides in-depth analysis of the global consumer genomics market, and provides market size (US$ Bn ) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global consumer genomics  market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Ancestry, Gene By Gene, Ltd. 3andMe,Inc., Color Genomics,Inc, Myriad Genetics,Inc, Mapmygenome, Positive Biosciences, Ltd, Futura Genetics, Helix OpCo LLC, MyHeritage Ltd., Pathway Genomics, Veritas, Amgen, Inc., Xcode Life, Diagnomics, Inc., Toolbox Genomics, SomaLogic, Inc., inui Health AgeCurve, QuickCheck Health, Biomeb, Metabolomic Discoveries GmbH, Illumina, Inc., Genetic Technologies Limited
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global consumer genomics  market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global consumer genomics market

Detailed Segmentation:

• Global Consumer Genomics Market Segmentation, By Product and Services:
• • Consumables
  • Systems
  • Software
• Global Consumer Genomics Market Segmentation, By Application:
• • Diagnostics
  • Wellness and Nutrition
  • Personalized Medicine
  • Ancestry
  • Others                                                                                                
• Global Consumer Genomics Market Segmentation, By Region:
• • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa
• Company Profile:
• • Ancestry
  • Gene By Gene, Ltd.
  • 23andMe,Inc.
  • Color Genomics,Inc
  • Myriad Genetics,Inc
  • Mapmygenome
  • Positive Biosciences, Ltd
  • Futura Genetics
  • Helix OpCo LLC
  • MyHeritage Ltd.
  • Pathway Genomics
  • Veritas
  • Amgen, Inc.
  • Xcode Life
  • Diagnomics, Inc.
  • Toolbox Genomics
  • SomaLogic, Inc.
  • inui Health
  • AgeCurve
  • QuickCheck Health
  • Biomeb
  • Metabolomic Discoveries GmbH
  • Illumina, Inc.
  • Genetic Technologies Limited