Global Direct-to-Consumer Genetic Testing Market 2021: Massive Scope for Adoption of Genomic-Based Medicine in Emerging Nations – Forecast to 2031 -…

DUBLIN, Aug. 20, 2021 /PRNewswire/ -- The "Global Direct-to-Consumer Genetic Testing Market: Focus on Direct-to-Consumer Genetic Testing Market by Product Type, Distribution Channel, 15 Countries Mapping, and Competitive Landscape - Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

Global direct-to-consumer genetic testing market to be one of the growing markets, which is predicted to grow at a CAGR of 17.30% during the forecast period, 2021-2031.

The direct-to-consumer genetic testing market's growth has been primarily attributed to the major drivers in this market, such as the growing amount of direct-to-consumer genetic testing, increasing research funding in the field of molecular biology, and an increase in awareness and acceptance of personalized medicine on a global level.

However, genomic data protection, ethical and social issues, and lack of regulatory standards are some of the factors expected to restrain the market growth.

Decreased cost and time required for genetic sequencing have increased the acceptance of DTC genetic testing among consumers. DTC genetic testing companies offer these genetic tests to their consumers through online channels and over-the-counter (OTC) channels, which has made these tests easily accessible to consumers around the globe.

The market is favored by the increased research activities based on next-generation sequencing-based technologies. The technology has been segmented into targeted analysis, whole genome sequencing, and single nucleotide polymorphisms. The whole genome sequencing segment is expected to grow at the highest CAGR of 17.37% during the forecast period 2021-2031.

This increase is mainly attributed to a large number of research and development being conducted due to the COVID-19 pandemic and regulatory approvals gained by key companies for genetic health risks-based tests.

Within the research report, the market is segmented on the basis of product type, technology, distribution channel, and region. Each segment covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.

Competitive Landscape

With the increasing consumer awareness and intense market penetration, companies such as 23andme, Inc., Ancestry.com, LLC, and Color Genomics have become pioneers and significant competitors in this market.

Other key players in the market are 24Genetics, Easy DNA, DNAfit, and My Heritage Ltd., among others.

The increased demand for complex and custom sequencing techniques, rising genetic testing services, and growing research to treat and diagnose genetic and infectious diseases have opened opportunities for companies to expand their product portfolios, increase automation facilitation, and develop novel consumer genetics solutions by adopting different strategic approaches.

Key Topics Covered:

1 Product Definition

2 Market Scope

3 Research Methodology

4 Market Overview4.1 Product Definition4.1.1 Ancestry Tests4.1.2 Health and Wellness Test4.1.3 Entertainment Test4.2 Direct-to-Consumer Genetic Testing Business Model4.2.1 One-to-One4.2.2 One-to-Many4.3 Future Potential4.4 COVID-19 Impact: Global Direct-to-Consumer Genetic Testing Market

5 Global Direct-to-Consumer Genetic Testing Market Regulatory Landscape5.1 Legal Requirements and Regulations5.2 Regulation in North America5.2.1 U.S.5.2.2 Canada5.3 Regulation in Europe5.3.1 Germany5.3.2 France5.3.3 U.K.5.3.4 Italy5.3.5 Spain5.4 Regulation in APAC5.4.1 China5.4.2 Regulation in Japan5.4.3 Australia5.4.4 South-Korea

6 Market Dynamics6.1 Impact Analysis6.1.1 Growing Number of Direct-to-Consumer Genetic Tests6.1.2 Increase in Awareness and Acceptance of Personalized Medicines on a Global Level6.1.3 Decreasing Cost of Sequencing6.1.4 Increasing Research Funding in the Field of Molecular Biology6.2 Market Restraints6.2.1 Genomic Data Protection6.2.2 Uncertain Regulatory Standards for Direct-to-Consumer Genetic Tests6.2.3 Ethical and Social Issues6.3 Market Opportunity6.3.1 Massive Scope for Adoption of Genomic-Based Medicine in Emerging Nations6.3.2 Capitalizing on the High Prevalence of Genetic Disorders6.3.3 Growth in Emerging Nations6.4 Key Trends6.4.1 Curiosity Among Consumers6.4.2 Increasing Public Awareness6.4.3 Mushrooming Direct-to-Consumer Genetic Testing Services Market6.4.4 Need for Precision Medicine6.4.5 Hassle-Free Model6.5 Key Strategies and Developments6.5.1 Synergistic Activities6.5.2 Approvals6.5.3 Product Launches and Expansions6.5.4 Acquisitions and Mergers6.5.5 Funding6.6 Market Share Analysis

7 Global Direct-to-Consumer Genetic Testing Market (by Technology), $Million, 2020-20317.1 Overview7.2 Targeted Analysis7.3 Single Nucleotide Polymorphism (SNPs)7.4 Whole Genome Sequencing (WGS)

8 Global Direct to Consumer Genetic Testing Market (by Distribution Channel), $Million, 2020-20318.1 Overview8.1.1 Online Channel8.1.2 Over-the-Counter (OTC) Channel

9 Global Direct-to-Consumer Genetic Testing Market (by Product Type), $Million, 2020-20319.1 Ancestry9.1.1 Genealogy9.1.2 Relationship9.2 Health and Wellness9.2.1 Predictive Tests9.2.2 Carrier Tests9.2.3 Pharmacogenomics Tests9.3 Entertainment

10 Global Direct-to-Consumer Genetic Testing Market (by Region), $Million, 2020-2031

11 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/i3cr66

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Global Direct-to-Consumer Genetic Testing Market 2021: Massive Scope for Adoption of Genomic-Based Medicine in Emerging Nations - Forecast to 2031 -...