The global direct-to-consumer genetic testing market at a CAGR of over 16% during the forecast period
NEW YORK, Sept. 4, 2019 /PRNewswire/ -- Global Direct-to-consumer Genetic Testing Market: About this market
This direct-to-consumer genetic testing market analysis considers sales from both direct sales and retail sales. Our analysis also considers the sales of direct-to-consumer genetic testing in Asia, Europe, North America, and ROW. In 2018, the direct sales segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as a reduction in additional costs involved in distribution and logistics will play a significant role in the direct sales segment to maintain its market position. Also, our global direct-to-consumer genetic testing market report looks at factors such as growing adoption of direct-to-consumer genetic testing in early disease diagnosis, rising disposable income, and increasing regulatory approvals of direct-to-consumer genetic testing kits. However, doubts over-analytical and clinical validity, limited reimbursement policies, and concerns over safety and privacy of personal data may hamper the growth of the direct-to-consumer genetic testing industry over the forecast period.
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Global Direct-to-consumer Genetic Testing Market: Overview
Growing adoption of direct-to-consumer genetic testing in early disease diagnosis
The adoption of direct-to-consumer genetic testing has increased, especially among people with a family history of certain diseases with a greater chance of their genetic transmission to their progeny. The increasing number of people with Alzheimer, cancer, and Parkinson's disease has fueled the demand for these tests. Direct-to-consumer genetic testing kit helps in the early diagnosis of diseases and help approach physicians for further monitoring and prevention. This will lead to the expansion of the global direct-to-consumer genetic testing market at a CAGR of over 16% during the forecast period.
Growing adoption of online service platforms
The increase in the adoption of digital trends in the healthcare industry has enabled vendors to have the edge over their competitors by offering better healthcare services. Online ordering facilities has increased the propensity of the consumers to avail more direct-to-consumer genetic tests. This leads the companies to provide attractive discounts to promote sales through online platforms. The availability of a digital database of consumers helps companies to analyze the performance of their products and improve through constant development and upgrades. This adoption of online service platforms is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of several major players, the global direct-to-consumer genetic testing market is moderately fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading direct-to-consumer genetic testing manufacturers, that include 23andMe Inc., Invitae Corp., Laboratory Corp. of America Holdings, Myriad Genetics Inc., Quest Diagnostics Inc.
Also, the direct-to-consumer genetic testing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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