LONDON--(BUSINESS WIRE)--The global direct-to-consumer genetic testing market size is poised to grow by USD 920.76 million during 2019-2023, according to a new report by Technavio, progressing at a CAGR of more than 16% during the forecast period.
Read the 123-page research report with TOC on "Direct-to-consumer genetic testing Market Analysis Report by distribution channel (direct sales and retail sales), and geographical regions (North America, Europe, Asia, and ROW) 2019 - 2023". Request a Free Sample Report
The market is driven by the growing adoption of direct-to-consumer genetic testing in early disease diagnosis. In addition, the increasing regulatory approvals of direct-to-consumer genetic testing kits are expected to further boost the growth of the market.
The prevalence of various types of cancers has been increasing significantly over the years. Early disease diagnosis is a crucial factor for the treatment of these life-threatening diseases. Thus, the demand for direct-to-consumer genetic testing is increasing as it provides information on the risk of developing various diseases. Therefore, the adoption of direct-to-consumer genetic testing in early disease diagnosis is increasing, which will drive the growth of the market during the forecast period.
The stringent regulatory environment in the field of genomics and the standardization of genetic testing services by regulatory authorities such as the EU and US FDA are compelling vendors to offer legally authorized products in the commercial market. Moreover, validity approval from regulatory authorities is also garnering the trust of investors, which in turn is augmenting the inflow of capital into R&D of direct-to-consumer genetic testing products. This is creating prospects for high market growth during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- 23andMe Inc.
- Invitae Corp.
- Quest Diagnostics Inc.
- Myriad Genetics Inc.
- Laboratory Corp. of America Holdings
Market Segmentation by Distribution Channel:
The direct-to-consumer genetic testing market can be broadly categorized into the following segments:
- Direct Sales
- Retail Sales
Key Regions for the Direct-to-consumer genetic testing Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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