Consumer Genomics Market Size, Share & Trends Analysis Report By Application (Genetic Relatedness, Ancestry, Diagnostics, Sports Nutrition & Health), By Region (North America, Europe), And Segment Forecasts, 2023 - 2030
Consumer Genomics Market Growth & Trends
The global consumer genomics market size is expected to reach USD 7.20 billion by 2030, registering a CAGR of 24.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rise in consumer and physician interest in direct-to-consumer (DTC) kits, coupled with a subsequent increase in the sales of DNA test kits, and the growing trend of personalized genomics, are expected to drive market expansion over the forecast period. The most common tests utilize a small number of genetic changes to predict certain health characteristics, reveal common traits, and provide ancestry hints. With the expansion of the variety of health information these tests can uncover, an increasing number of companies are offering genetic testing directly to consumers.
The surge in consumer and physician interest in DTC kits, technological improvements, an increase in consumer genomics applications, supportive governmental policies, and the growing trend of personalized genomics are the primary drivers of market expansion. For instance, according to a ScienceDirect article, direct-to-consumer (DTC) tests became more prevalent in 2022 as they could be purchased without a doctor's prescription.
The COVID-19 pandemichas heightened people's concerns about their health, potentially encouraging them to explore novel and cutting-edge methods like consumer genomics. Therefore, the market is expected to maintain its considerable growth rate over the forecast period due to the increasing efforts in DNA-based research and development, as well as bioinformatics, aimed at creating diagnostic tools and efficient therapies for COVID-19.
Consumer Genomics Market Report Highlights
The genetic relatedness segment accounted for the largest revenue share in 2022 due to its involvement in the most common type of paternal testing
The dissolving microneedle segment is expected to grow at the fastest rate during the forecast period since it requires only one step, and the microneedle does not need to be removed after insertion
Companies such as FamilyTree DNA; AncestryDNA; 23andMe, Inc.; MyHeritage, and others offer several paternal and maternal tests. These tests provide information about genetic relations and ancestry at an affordable cost
Asia Pacific is anticipated to experience the fastest CAGR over the forecast period due to the increasing awareness related to DTC genetics and the availability of funding for long-term research initiatives
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Chapter 1. Methodology and Scope
1.1. Market Segment & Scope
1.1.1. Application
1.1.2. Regional Scope
1.1.3. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.4. Information Or Data Analysis
1.4.1. Data Analysis Model
1.5. Market Scope & Segment Definition
1.6. Market Model
1.6.1. Market Study, By Company Market Share
1.6.2. Regional Analysis
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
1.9.1. Objective 1
1.9.2. Objective 2
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Rise in interest of consumers & physicians in DTC kits & consequent rise in sales of DNA test kits
3.2.1.2. Increase in access to DTC services due to reducing cost of genotyping
3.2.1.3. Expansion in applications of DTC genetics
3.2.1.3.1. Health testing
3.2.1.3.2. Ancestry
3.2.1.3.3. Genetic relatedness
3.2.1.4. Significant investments & initiatives by companies to maintain their competitive edge in the market
3.2.1.5. Growing trend of personalized genomics
3.2.2. Market Restraint Analysis
3.2.2.1. Ethical and clinical issues pertaining to the use of DTC products & personalized treatment
3.2.2.2. Misleading results create challenges in adoption of home-based genetic tests
3.2.2.3. Regulatory challenges pertaining to the use of DTC genetic tests
3.3. Industry Analysis Tools
3.3.1. Porter’s Five Forces Analysis
3.3.2. PESTEL Analysis
3.3.3. COVID-19 Impact Analysis
Chapter 4. Consumer Genomics Application Business Analysis
4.1. Consumer Genomics Market: Application Movement Analysis