Market Analysis and Insights: Consumer Genomics Market
Consumer Genomics Market By Application (Genetic Relatedness, Diagnostics, Lifestyle, Wellness, & Nutrition, Ancestry, Reproductive Health, Personalized Medicine & Pharmacogenetic Testing, Sports Nutrition & Health, Others), Technology (PCR, Sequencing, Microarray, Nucleic Acid Extraction and Purification, Other Technologies), Product and Service (Consumables, Systems & Software, Services), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends & Forecast to 2026
Global consumer genomics market is set to witness a healthy CAGR of 20.45% in the forecast period of 2019-2026. The report contains data of the base year 2018 and historic year 2017. Increasing trend of DTC testing and growing application areas of genomics are the factor for the growth of this market.
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Competitive Analysis:
Global consumer genomics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of consumer genomics market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Definition: Global Consumer Genomics Market
• Consumer genomics is related with the sequencing, interpretation and sequencing of the genome. They are widely used in application such as diagnostics, wellness and nutrition, reproductive healthcare, genetic relatedness, ancestry and others. If genotypes are known, this helps the individual to know about their ancestry inference, disease risks and other trait expression. Increasing prevalence for personalized genomics is the factor fueling the growth of this market.
Market Drivers
• Rising demand for personalized genomics is driving the market
• Increasing access to DTC service due to decrease rate of genotyping will also drive market
• Rising investments by companies in consumer genomics will also propel the market growth
• Growing consumer and physicians interest in DTC kits & consequent is also contributing as a factor for the growth of this market
Market Restraints
• Increasing clinical and ethical problems related to the use of DTC products & personalized treatment will restrain market growth
• Strict norms associated with the use of DTC genetic tests will also hamper the market growth
• Lack of adoption of home-based genetic tests due to misleading results will also restrict the growth of the market
Segmentation: Global Consumer Genomics Market
By Application
• Genetic Relatedness
• Diagnostics
• Lifestyle
• Wellness, & Nutrition
• Ancestry
• Reproductive Health
• Personalized Medicine & Pharmacogenetic Testing
• Sports Nutrition & Health
• Others
By Technology
• PCR
• Sequencing
• Microarray
• Nucleic Acid Extraction and Purification
• Other Technologies
By Product and Service
• Consumables
• Systems & Software
• Services
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By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o Italy
o U.K.
o France
o Spain
o Netherlands
o Belgium
o Switzerland
o Turkey
o Russia
o Rest of Europe
• Asia-Pacific
o Japan
o China
o India
o South Korea
o Australia
o Singapore
o Malaysia
o Thailand
o Indonesia
o Philippines
o Rest of Asia-Pacific
• South America
o Brazil
o Rest of South America
• Middle East and Africa
o South Africa
o Rest of Middle East and Africa
Key Developments in the Market:
In April 2019, PerkinElmer along with Helix announced the launch of their new consumer gene testing product GenePrism. This product has the ability to analyze 59 genes and is very suitable for individuals who don’t have any information about their family history of disease. Helix will be sequencing the user’s DNA and further passing the result to PerkinElmer medical geneticists so that they can provide data analysis and interpretative service. With this product launch the company has expanded its product portfolio in the market.
In November 2018, Nebula Genomics announced the launch of consumer genetics: the ability for individuals to have their full genome sequenced. This new platform will connect the consumer with the researchers so that they can help them in advance biomedical research. This is specially designed so the consumer can share their genomic data in a fair and transparent ecosystem and assisting the scientists in performing the transformative research.
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Key Market Competitors:
Few of the major competitors currently working in the global consumer genomics market are 23andMe, Inc., Gene by Gene, Mapmygenome - Know Yourself, Color Genomics, Inc., Helix OpCo LLC, MyHeritage Ltd, Pathway Genomics, Veritas Genetics, Myriad Genetics, Inc., Illumina, Inc., Xcode Life, Diagnomics, Inc., Toolbox Genomics, Thermo Fisher Scientific Inc., QIAGEN, Eurofins Scientific, Genomic Health, Invitae Corporation, Nebula Genomics, PerkinElmer Inc., Oxford Nanopore Technologies and others
Research Methodology: Global Consumer Genomics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Primary Respondents
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
• Current and future of global consumer genomics market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
• Regions/Countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
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