The markets where genetic testing services and products are sold directly to consumers without the involvement of intermediaries or medical professionals are referred to as the global direct-to-consumer (DTC) genetic testing market. With direct-to-consumer (DTC) genetic testing, people can obtain and evaluate their genetic data for a range of uses, such as ancestor tracking, health risk assessment, and customized medicine. Businesses that offer genetic testing kits, online ordering and result interpretation systems, and associated services are included in this market.
Global Direct-to-Consumer(DTC) Genetic Testing Market Driving Factors and Challenges
Demand for DTC genetic testing has surged as a result of growing public awareness of the advantages of genetic testing, such as ancestry, disease risk assessment, and personalized healthcare insights. People are starting to take greater responsibility for their health. Genetic testing is now much less expensive and time-consuming thanks to developments in bioinformatics and gene sequencing technology. At a small fraction of the cost associated with conventional methods, the analysis of multiple genes or even entire genomes is now possible thanks to the development of high-throughput sequencing technologies like next-generation sequencing (NGS).
The responsible use of genetic information and data protection present challenges for the DTC genetic testing market. Personal genomic data is gathered and analysed as part of genetic testing, which presents ethical and privacy issues. Due to possible risks of unauthorized access, data breaches, or information misuse, consumers may be hesitant to share their genetic information with companies. Since consumers value the security and privacy of their genetic data, these worries may restrain market expansion.
Impact of COVID-19 on Global Direct-to-Consumer(DTC) Genetic Testing Market
The DTC genetic testing market faced both opportunities and challenges as a result of the COVID-19 pandemic. Test processing was delayed as a result of lab closures and supply chain interruptions. Nonetheless, the pandemic's increased focus on health raised interest in genetics and individual health. As the demand for at-home testing kits increased, some businesses decided to switch to COVID-19 testing. Despite early difficulties in logistical operations, this adaptation kept the industry afloat and promoted innovation.
Global Direct-to-Consumer(DTC) Genetic Testing Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Ancestry(US), 23andMe, Inc. (USA), Color Health, IncDante Labs, Inc., (US), EasyDNA(USA), Full Genomes Corporation, Inc.(US), Gene by Gene, Ltd.(US), Genesis HealthCare(US), Helix OpCo LLC(US), Living DNA Ltd (UK), others.
Global Direct-to-Consumer(DTC) Genetic Testing Market Segmentation:
By Sales channel: Based on the Sales Channel, Global Direct-to-Consumer(DTC) Genetic Testing Market is segmented as; Online Sales, OTC Sales and Doctor's Office
By Service: Based on the Service, Global Direct-to-Consumer(DTC) Genetic Testing Market is segmented as; Diagnostic Screening, Prenatal, New-born Screening, Pre-Implantation Diagnosis and Relationship Testing
By Test Type: Based on the Test Type, Global Direct-to-Consumer(DTC) Genetic Testing Market is segmented as; Carrier Testing, Predictive Testing, Ancestry and Relationship Testing
By Technology: Based on the End-Users, Global Direct-to-Consumer(DTC) Genetic Testing Market is segmented as; Targeted Analysis, Single Nucleotide Polymorphism (SNP) Chips and Whole Genome Sequencing (WGS)
By End-User: Based on the End-Use, Global Direct-to-Consumer(DTC) Genetic Testing Market is segmented as; Laboratories, Blood Banks, Nursing Home
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.