PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464630
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464630
Consumer Genomics Market size was valued at USD 1,902.30 Million in 2023, expanding at a CAGR of 25.01% from 2024 to 2032.
Consumer genomics encompasses the genetic branch dedicated to offering genetic testing and analysis directly to consumers through commercial services. These services provide insights into ancestry, traits, and potential health risks based on an individual's genetic information. Consumers typically provide a DNA sample, often through saliva or cheek swab kits, which is then analyzed to generate personalized reports. Consumer genomics enables individuals to explore their genetic heritage, understand inherited traits, and assess genetic predispositions to certain health conditions from the convenience of their homes.
Consumer Genomics Market- Market Dynamics
Heightened consumer and physician interest in direct-to-consumer (DTC) kits to propel market demand
The market's expansion is predominantly driven by several factors, including heightened consumer and physician interest in direct-to-consumer (DTC) kits, technological advancements, an expanding array of consumer genomics applications, supportive governmental policies, and the increasing popularity of personalized genomics. For instance, the prevalence of DTC tests notably surged in 2022, as individuals could purchase them without a doctor's prescription, making them more accessible and convenient for the general population. The broadening of application areas for DTC genetic tests significantly propels market growth. Genetic testing encompasses various services such as ancestry identification, race determination, and exploration of family connections, leading to increased adoption in clinical practices. Moreover, robust consumer genetics tests find applications in clinical, genealogical, and forensic domains, and many companies offer DTC tests adaptable for ongoing research, sports, nutrition, and other fields.
Consumer Genomics Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 25.01% over the forecast period (2024-2032)
Based on Product Type segmentation, Consumables was predicted to show maximum market share in the year 2023
Based on Application segmentation, genetic relatedness was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Consumer Genomics Market is segmented on the basis of Product Type, Application, and Region.
The market is divided into two categories based on Product Type: Instruments and Consumables. Consumables dominate the market based on product type as of 2023. This dominance is largely attributed to the nature of consumer genetic testing, where the process heavily relies on the collection and analysis of DNA samples rather than complex instrumentation. As a result, consumables constitute a significant portion of the consumer genomics market, driven by the continuous demand for user-friendly sample collection kits and reliable reagents. Additionally, consumables typically offer higher profit margins and recurring revenue streams for companies compared to one-time instrument sales, further cementing their prominence in the consumer genomics landscape.
The market is divided into eight categories based on Application: Genetic Relatedness, Ancestry Lifestyle, Wellness, & Nutrition, Diagnostics, Sports Nutrition & Health, Reproductive Health, Personalized Medicine & Pharmacogenetic testing and others. As of 2023, the genetic relatedness segment held the largest revenue share, primarily driven by the widespread adoption of paternal testing, including paternity testing, maternity testing, and prenatal paternity testing. These tests contribute significantly to revenue generation in the market, with paternity testing kits readily available for online purchase, albeit with legal considerations. Conversely, a notable portion of customers are turning to DTC genetic testing to gain insights into their hereditary traits and identify unknown relatives and distant cousins.
Consumer Genomics Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In the competitive arena of consumer genomics, companies employ diverse strategies to bolster their market standing and offerings. One prevalent approach involves forging partnerships with healthcare providers, genetic counselors, and research institutions to ensure precise interpretation of genetic data and furnish comprehensive insights to consumers. Collaborations with direct-to-consumer genetic testing platforms and regulatory bodies facilitate service distribution while ensuring compliance with evolving regulations and ethical standards. Additionally, companies invest in research and development to innovate new genetic tests and enhance the accuracy and scope of genetic analysis, thereby broadening their product portfolios and appealing to a wider consumer audience. Through strategic partnerships and continuous innovation, companies in the consumer genomics market strive to deliver dependable and informative genetic testing solutions, empowering individuals to make informed decisions about their health and ancestry. Market expansion is further expected to be fueled by significant product innovation and collaborations among key industry players.
In July 2022, 1health.io Inc. pointedly expanded its testing competences in clinical and direct-to-consumer segment. Additionally, the company partnered with Apollo Health Group to extend the clinical market for Apollo's specialized, high-performing Next-Generation Sequencing (NGS) assays, which includes pharmacogenetics screenings (PGx) along with hereditary cancer genetic screenings (CGx). Such advancements are boosting to the evolution and growth of the consumer genomics market.
GLOBAL CONSUMER GENOMICS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
Ancestry
Gene By Gene, Ltd. (FamilyTree DNA)
23andMe, Inc.
Color Health, Inc
Myriad Genetics, Inc
Mapmygenome
Positive Biosciences, Ltd
Futura Genetics
Helix OpCo LLC
MyHeritage Ltd.
Pathway Genomics
Veritas
Amgen, Inc.
Xcode Life
Diagnomics, Inc.
Toolbox Genomics
SomaLogic, Inc.
inui Health (formerly Scanadu)
AgeCurve
QuickCheck Health
Biomeb
Metabolomic Discoveries GmbH
Illumina, Inc.
Others