Consumer Genomics Market is valued at USD 2259.0 Million in 2021 and expected to reach USD 7806.3 Million by 2028 with a CAGR of 19.38% over the forecast period.
Global Consumer Genomics Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Growing health awareness owing to the increasing prevalence of the diseases, rising adoption of personalized medicine and growing government initiatives for genomics project are some of the major driving factors anticipated to drive the growth of the Global Consumer Genomics Market.
Genomics is the branch of genetics which predict individual risk for disease and modify health care accordingly. Consumer genetics based on the principle that each person’s DNA is unique and that certain variations in genes can predispose to certain diseases related to sequencing, analysis and interpretation of the genome of an individual. A specific medical condition is recommended by healthcare provider for investigation. The genetic test can be purchased online without help of the healthcare provider while consumer-driven genetic testing ordered by a health care provider in response to an informed patient request. Consumer genomics tests can determine how body makes certain proteins or how it processes different nutrients. Genomic test information helps understand how food, exercise, stress, sleep and the impacts body.
The Covid-19 pandemic has shown a significant impact on the global consumer genomics market. The emergence of Covid-19 made people aware about health and adoption of consumer genomics was increased during pandemic. For example, AncestryDNA announced to use its consumer genomics database to explore potential genetic cues for Covid-19 in April 2020. Scientists of Ancestry recognized a DNA region which may be associated with Covid-19 susceptibility near the IVNS1ABP gene.
The global consumer genomics market is segmented into on the basis of technology, application and region & country level. On the basis of technology, the global consumer genomics market is segmented into nuclear acid extraction & purification, microarray, next generation sequencing, PCR and others. On the basis of application, the market is segmented into reproductive health, personalized medicine & pharmacogenetic testing diagnostics, genetic relatedness, ancestry testing, sports & nutrition, precision medicine, genetic screening and others.
The regions covered in global consumer genomics market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global consumer genomics market is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
Key Players for Global Consumer Genomics Market Report-
Some of the key players for global consumer genomics market are Merk, GlaxoSmithKline, 23andMe, Gene by Gene, Ltd., Positive Biosciences, Ltd., Mapmygenome, Color Genomics, Inc., Futura Genetics. Johnson and Johnson, Pfizer, Sanofi, AstraZeneca, CSL Ltd, Abbott and Serum Institute of India and others.
|Historical data||2018 - 2021|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 2259.0 Million|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 7806.3 Million|
|Tables, Charts & Figures:||175|
|Consumer Genomics Companies||Merk, GlaxoSmithKline, 23andMe, Gene by Gene, Ltd., Positive Biosciences, Ltd., Mapmygenome, Color Genomics, Inc., Futura Genetics. Johnson and Johnson, Pfizer, Sanofi, AstraZeneca, CSL Ltd, Abbott and Serum Institute of India and others.|
|Segments Covered||By Technology, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
FDA Approved Direct-to-Consumer Cancer Genomics
On March 6th, 2018; A direct- to consumer cancer genomics made by 23andMe test approved by the U.S. Food and Drug Administration approved the Personal Genome Service Genetic Health Risk (GHR) Report for BRCA1/BRCA2 (Selected Variants). The test shows if there is increased risk of breast and ovarian cancer. In this test DNA was collected from a self-collected saliva sample.
Growing Health Awareness owing to the Increasing Prevalence of the Diseases, Rising Adoption of Personalized Medicine and Growing Government Initiatives for Genomics Project are Some of the Major Driving Factors Driving the Market Growth.
One of the major factors driving the growth of global consumer genomics market is increasing health awareness due to growing prevalence of the diseases. Health awareness among people is increasing due to emergence of various diseases and thereby need of genomic testing is also increasing. In addition to that, rising adoption of personalized medicine is another factor supplementing the market growth. Applications of DTC (Direct-to-customer) is as DTC tests are easy to use and cost-effective. DTC demand is increasing as they are easily available in market and its use in research, sports, nutrition. During Covid-19 pandemic genomics research has been used to examine potential genetic markers for Covid-19. For example; AncestryDNA announced to use its consumer genomics database to explore potential genetic cues for COVID-19 in April 2020.
Moreover, growing number of government initiatives such as genomics project is also augumenting the market growth. For example; FDA removed some regulatory law for the marketing of consumer genomic products which help companies to sell their products in market without any added review. However, the huge cost of the genomic equipment may hamper the market growth. In spite of that, adoption of consumer genomics for Covid-19 research may offer more opportunities for the further growth of the global consumer genomics market.
North America is Expected to Dominate the Global Consumer Genomics Market
North America is expected to dominate the global consumer genomics market due the increasing research in this field, presence of major players, and rising investments in the industry in this region. One of the major factors driving the global consumer genomics in North America is increasing research in this field. For example; a direct- to consumer cancer genomics made by 23andMe test approved by the U.S. Food and Drug Administration. In addition, presence of major players such as 23and Me, GlaxoSmithKline, Abbott, Johnson and Johnson, Pfizer, Sanofi Gene by Gene is also supplementing the market growth. Moreover, rising investments in genomics by government and private industries is also anticipated to drive the market growth.
Asia-Pacific is anticipated to be fastest growing region in the global consumer genomics market due the increasing research & development activities, rising awareness regarding DTC testing and growing number of supportive government initiatives and fundings for research in this region. In addition, rising awareness regarding DTC testing is also boosting market growth as theses test provide information about genetic relations and ancestry at a low cost. Moreover, growing government initiatives and fundings for research is also fostering the market growth. For instance; The Genomics Health company in Australia planned to invest $500.1 million in genomic research which improve testing and diagnosis for many diseases in 2020.
By Region Analysis
Middle East and Africa
Key Benefits of Global Consumer Genomics Market Report-
We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination interested? please email us firstname.lastname@example.orgJOIN US
BrandEssence® Market Research and Consulting Pvt ltd.
Kemp House, 152 - 160 City Road, London EC1V 2NX
© Copyright 2022-23 BrandEssence® Market Research and Consulting Pvt ltd. All Rights Reserved | Designed by BrandEssence®