The Direct-to-Consumer (DTC) Genetic Testing Market is set to exceed USD 2.5 billion by 2024; according to a new research report by Global Market Insights. Growing incidences of genetic and rare disorders worldwide coupled with wide applications of direct-to-consumer genetic testing in early detection and prevention of oncology as well as other genetic diseases will drive the DTC genetic testing market growth in the coming years. Rising awareness among patients pertaining to early disease diagnosis will result in timely treatment and reduced mortality rate. Additionally, technological innovations in direct-to-consumer genetic testing to offer enhanced efficiency, high sensitivity and accuracy will serve to be a significant impact rendering factor. Moreover, increasing adoption of carrier testing at a very early stage of pregnancy will further augment the business growth during forecast period.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/3033
Increasing demand for service personalization in developed regions such as North America and Europe is the key factor that will drive the Direct-to-Consumer (DTC) Genetic Testing Market growth. These tests enable consumers to know their genetic information without involvement of physicians and other healthcare professionals. DTC testing allows consumers to determine genetic predisposition to diabetes, cancer, Alzheimer’s and other genetic diseases in order to enable precautionary preparation for healthcare. This will surge the demand for DTC genetic tests thereby augmenting industry growth over the forecast period. However, the high cost involved in direct-to-consumer genetic testing kits coupled with defects in the DTC genetic tests may hamper the industry growth in the foreseeable future.
The United States hosts 30 million people suffering from rare diseases, which accounts for 10% of the U.S. population. Similarly, Europe has nearly 30 million people with a rare disease. Moreover, it is projected that 350 million people suffer from rare diseases globally, so much that if all the affected people were gathered in one country, it would make for the world’s third-most populated nation. The figures further stated that 80% of rare diseases are caused by faulty genes and therefore present throughout a person’s life.
Owing to the aforementioned trends, it is rather overt that the adoption of technologies like DTC predictive testing which offer data regarding the likelihood of someone acquiring a certain disease will increase. This would substantially propel Direct-to-Consumer (DTC) Genetic Testing Market size from predictive testing, that stood at a valuation of $110.8 million in 2017.
Carrier test types – also known as carrier screenings is another technology that’s been on the popularity radar lately. Couples mostly opt for carrier testing before or during pregnancy to identify whether they are at risk of passing genetic disorders to their children. As per the Center for Disease Control and Prevention, birth defects are the leading reason for infant mortality, equaling 20% of all infant deaths. The growing need to control infant mortality rate by determining the risks of a newborn inheriting any genetic disorders will drive Direct-to-Consumer (DTC) Genetic Testing Market from carrier testing in the years to come.
It is however, prudent to mention that carrier testing has presented some obstacles for individuals who are uncertain of their ethnic backgrounds. Such challenges can be prevented through expanded carrier screening, a more advanced version of the available test that can identify disease-causing mutations regardless of a patient’s ethnicity. It is thus quite vivid, that advancements in this domain are also slated to boost the momentum of carrier testing in the years ahead.
Global Direct-to-Consumer (DTC) Genetic Testing Market is often thought to be meant solely for humans, however, the technology has even managed to attract pet owners worldwide. Case in point, the California-based startup Basepaws, the first company offering Direct-to-Consumer (DTC) Genetic Testing Market for cats, focuses on delivering comprehensive data concerning breed information and health insights. In this time and age, people are extremely conscious about their pet’s health. Getting a genetic test can help pet owners detect the traits connected health conditions like obesity or heart disease. In addition, it helps save time and money on trial and error to identify the best foods for certain breeds.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/3033
Some of the key industry players operating in global Direct-to-Consumer (DTC) Genetic Testing market are 23andMe, Ancestry, Color, EasyDNA, Family Tree DNA, Full Genomes, Genesis HealthCare, Helix, Identigene, Karmagenes, Living DNA, MapMyGenome, MyHeritage and Pathway Genomics. Industry players primarily focus on strategic expansion through mergers, collaborations and acquisitions that help the players to strengthen their market position and enhance existing product portfolio. For instance, in August 2017, Pathway entered into a distributorship agreement with Medikonia wherein its products would be made available in Hong Kong through Medikonia, a solution based service provider operating in Hong Kong. This strategy aimed at expanding the geographic scope of the company.