PUBLISHER: Grand View Research | PRODUCT CODE: 1404656
PUBLISHER: Grand View Research | PRODUCT CODE: 1404656
The global consumer genomics market size is expected to reach USD 7.20 billion by 2030, registering a CAGR of 24.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rise in consumer and physician interest in direct-to-consumer (DTC) kits, coupled with a subsequent increase in the sales of DNA test kits, and the growing trend of personalized genomics, are expected to drive market expansion over the forecast period. The most common tests utilize a small number of genetic changes to predict certain health characteristics, reveal common traits, and provide ancestry hints. With the expansion of the variety of health information these tests can uncover, an increasing number of companies are offering genetic testing directly to consumers.
The surge in consumer and physician interest in DTC kits, technological improvements, an increase in consumer genomics applications, supportive governmental policies, and the growing trend of personalized genomics are the primary drivers of market expansion. For instance, according to a ScienceDirect article, direct-to-consumer (DTC) tests became more prevalent in 2022 as they could be purchased without a doctor's prescription.
The COVID-19 pandemichas heightened people's concerns about their health, potentially encouraging them to explore novel and cutting-edge methods like consumer genomics. Therefore, the market is expected to maintain its considerable growth rate over the forecast period due to the increasing efforts in DNA-based research and development, as well as bioinformatics, aimed at creating diagnostic tools and efficient therapies for COVID-19.