Growth Insights for the Direct-to-Consumer Genetic Testing Market, Forecast to 2022
As healthcare evolves toward personalized solutions, everyday consumers are proactively taking responsibility for their health in ways unimaginable a decade ago. A direct-to-consumer genetic test (DTCGT) exemplifies this trend which can be purchased and used directly by consumers without the requirement of a prescription from a healthcare provider. The tests can be purchased online from distribution channels such as DTCGT company websites, e-commerce channels, and online pharmacies.
Challenges faced by the industry include unclear regulations, lack of standard guidelines, low test margins, concerns related to scientific validity and consumer data privacy. However, drivers such as increased consumer awareness, approval of health risk genetic tests in the United States, development of significantly modified tests with robust scientific validation and data monetization collaborations with stakeholders such as pharmaceutical companies have provided a strong impetus to the growth of the DTCGT market. With the synergistic effect of advanced technologies such as Artificial Intelligence, Big Data Analytics, and Blockchain on the traditional genetic testing market, along with the adoption of novel distribution models, the market growth is anticipated to increase dramatically in the next five years.
The key objective of the growth insights on the DTCGT market is to highlight current market dynamics such as key market participants, market segments and evolving business opportunities. The study aims to identify both established enterprises and start-ups, which are capable of shaping the future through best practices implementation, visionary leadership, and innovation in product offerings. Further, the study provides an analysis of market sizing by revenue segregated by ancestry genetic tests, health risk genetic tests and lifestyle genetic tests. It covers the key drivers, challenges in the market impeding growth, competitive landscape, market participant strategies and future growth strategies. The study also highlights growth opportunities, key trends, mergers and acquisitions, novel distribution models, geographical lucrativeness, notable partnerships, investor funding, collaboration opportunities and key companies to watch. The study is global with deep dives for North America, Europe, Asia Pacific, Middle East and Africa.
Major participants mentioned in the study are 23andMe, Ancestry, National Geographic Geno 2.0, Helix, Mapmygenome, Atlas Biomed, MyHeritage, 23mofang, EasyDNA and DNALabsUAE.
Key Issues Addressed
How attractive is the DTCGT market? Which segments are anticipated to grow in the future and their market?
What are the factors driving the demand for DTCGT? What are the business and distribution models that will affect the market?
What will be the focal areas of application of technology? Which emerging regions are more lucrative than others?
What are the factors impacting solution providers? What are the market dynamics around the key trends as well as market drivers and restraints?
Which are the game-changing companies at work? What are the strategic levers to stay on the growth trajectory?
What are the key growth opportunities and investment recommendations in this space?
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