Consumer Genomics Market Players: Veritas, Amgen Inc., Xcode Life, And Diagnomics, Inc.
Consumer Genomics Industry Overview
The global consumer genomics market size was valued at USD 1.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 19.4% from 2021 to 2028. The Direct-to-Consumer (DTC) testing market has significantly grown in the past few years due to the growing interest of consumers and healthcare providers in personalized genetic analysis. This is majorly due to the growing concerns pertaining to sedentary lifestyles and poor diet-related illness among the global population.
Customers and physicians are adopting genealogy services to gain knowledge about their ancestors and to locate family members. The consumer gene testing companies are undertaking strategic initiatives to grow awareness among consumers about genealogy testing. This, in turn, has eventually developed genealogy testing, one of the key applications of the consumer genomics field, to capture the wide interest of clinicians and customers. This rise in awareness related to genealogy testing has resulted in the increased adoption of consumer genomics.
Gather more insights about the market drivers, restrains and growth of the Global Consumer Genomics market
A rise in the adoption of consumer genomics for COVID-19 research is anticipated to drive the market. In April 2020, AncestryDNA announced to use its consumer genomics database (with the patient’s consent) to explore potential genetic cues for COVID-19. In July 2020, the study announced that the IVNS1ABP gene region in males is associated with COVID-19 susceptibility. This also explained the harsh effects of the viral disease in males as compared to females.
Expansion of the application areas of DTC genetic tests is a high-impact rendering market driver. Genetic testing involves a wide range of services such as data security, identification of ancestors, race, and the nature of family, which increases its usage in clinical practices. Thus, the adoption of genetic testing is increasing. In addition, robust consumer genetics tests are used in clinical, genealogical, and forensic areas. A large number of companies are offering DTC tests that could be implemented in ongoing research, sports, nutrition, and other fields.
Companies such as 23andMe, bio.logis Genetic Information Management (GIM) GmbH and DNA Testing Centers of Canada deliver carrier screening tests kits in clinical settings. Similarly, My Gene Diet, Smart DNA, and Halo Health International offer tailored diet services and food plans. The trend of DTC personalized genomic testing is continuously rising due to the low cost of different tests ranging from USD 99 to over USD 2000.
Furthermore, it does not require the involvement of a healthcare provider. In addition, direct access to DTC genomic test results will empower users to gain knowledge about themselves and assist them in making proactive decisions, such as behavioral change and lifestyle. Thus, these factors have led to the adoption of DTC personalized genomics. The rapid growth of the genetic testing industry has also resulted in a higher number of customers opting for online genetic testing.
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Consumer Genomics Market Segmentation
Grand View Research has segmented the global consumer genomics market on the basis of application and region:
Consumer Genomics Application Outlook (Revenue, USD Million, 2017 - 2028)
- Genetic Relatedness
- Diagnostics
- Lifestyle, Wellness, & Nutrition
- Ancestry
- Reproductive Health
- Personalized Medicine & Pharmacogenetic testing
- Sports Nutrition & Health
- Others
Consumer Genomics Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- August 2020: Ancestry launched the AncestryHealth program based on Next Generation Sequencing (NGS). The company also offers several other projects such as Family Tree DNA, and National Geographic's Genographic Project that provide ancestry-based tests related to maternity, paternity, sibling, and grandparent identification.
Key Companies profiled:
Some prominent players in the global Consumer Genomics market include
- Ancestry
- Gene By Gene, Ltd. (FamilyTree DNA)
- 23andMe, Inc.
- Color Genomics, 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.
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