The new report by Expert Market Research titled, ‘Global Consumer Genomics Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global consumer genomics market, assessing the market based on its segments like applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 1.50 Billion
• Forecast CAGR (2023-2028): 20%
Because of the growing potential for genetic testing applications, the consumer genomics market is on the verge of becoming a mainstream phenomenon. In addition, the consumer genomics industry is expected to gain from the constant development in the deployment of genealogy services throughout the world, which allow consumers to analyze their forebears, family tree, and risk of developing genetic health conditions. The fast-evolving technology and increased consumer awareness about the danger of developing genetic or other illnesses are likely to boost the global consumer genomics market throughout the forecast period.
Industry Definition and Major Segments
Consumer genomics is the field of genomics concerned with the sequencing, analysis, and interpretation of an individual’s genome.
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The industry can be broken down based on application into:
• Genetic Relatedness
• Diagnostics
• Lifestyle, Wellness, and Nutrition
• Ancestry
• Reproductive Health
• Personalised Medicine and Pharmacogenetic Testing
• Sports Nutrition and Health
• Others
Regionally, the industry can be segmented into:
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
Market Trends
Some important industrial developments have recently demonstrated the potential to boost the market’s growth throughout the forecast period. For example, Ancestry introduced the AncestryHealth service based on Next Generation Sequencing (NGS) in August 2020. Other ancestry-based tests offered by the company include Family Tree DNA and National Geographic’s Genographic Project, which give maternity, paternity, sibling, and grandparent identification.
Key Market Players
The major players in the market are Ancestry, 23andMe Inc., Gene by Gene Ltd., Mapmygenome, Color Genomics Inc., Positive Biosciences Ltd., Futura Genetics, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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