Overview and Scope
Consumer genomics refers to the branch of genomics that focuses on providing genetic information directly to consumers, typically through commercial genetic testing services. These services use DNA samples provided by individuals to generate reports that provide information about the genetic predispositions to certain traits, diseases, or conditions.
Sizing and Forecast
The consumer genomics market size has grown rapidly in recent years. It will grow from $2.9 billion in 2023 to $3.48 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to sequencing cost reduction, introduction of direct-to-consumer testing, pioneering companies in consumer genomics, data privacy and security concerns, initial adoption challenges.
The consumer genomics market size is expected to see exponential growth in the next few years. It will grow to $7.27 billion in 2028 at a compound annual growth rate (CAGR) of 20.3%. The growth in the forecast period can be attributed to expanded genetic data pool, increasing demand for disease risk assessment, integration with wearable devices, shift toward preventive healthcare, expansion of genetic counseling services. Major trends in the forecast period include focus on genetic counseling services, price reduction in sequencing, rise in personalized medicine, direct-to-consumer testing demand, health and wellness awareness.
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Segmentation & Regional Insights
The consumer genomics market covered in this report is segmented –
1) By Product: Consumables, Systems And Software, Other Products
2) By Technology: Polymerase Chain Reaction (PCR), Sequencing, Microarray, Nucleic Acid Extraction And Purification
3) By Application: Genetic Relatedness, Diagnostics, Lifestyle, Ancestry, Wellness And Nutrition, Reproductive Health, Personalized Medicine And Pharmacogenetic Testing, Sports Nutrition And Health, Other Applications
North America was the largest region in the consumer genomics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global consumer genomics market report during the forecast period. The regions covered in the consumer genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing applications of DTC genomics in diagnostics, genetic relatedness, sports nutrition and personalized medicines are expected to propel the growth of the consumer genomics market going forward. Direct-to-consumer (DTC) genomics test kits are tests that individuals can purchase and use at home to learn more about their genetic makeup and potential health risks. For instance, in February 2022, the journal published by the AlphaBiolabs, a UK-based company that provides a range of DNA testing services, including paternity testing, ancestry testing, and drug and alcohol testing, published that the demand for prenatal paternity genomics testing surged by 47.0% in 2021 compared to the pre-pandemic days. Therefore, the growing applications of DTC genomics in diagnostics, genetic relatedness, sports nutrition and personalized medicines is driving the growth of the consumer genomics market.
Key Industry Players
Major companies operating in the consumer genomics market report are 23andMe Inc., Gene by Gene Ltd., Mapmygenome Ltd., Ancestry.com LLC, Color Genomics Inc., Futura Genetics LLC, Pathway Genomics Corporation, Helix Operating Company LLC, Positive Biosciences Corporation, Veritas Genetics Inc., Illumina Inc., MyHeritage Ltd., Myriad Genetics Inc., Amgen Inc., Diagnomics Inc., Toolbox Genomics Inc., Xcode Life Sciences Inc., CircleDNA Inc., DNAfit Ltd., 24Genetics S.L.U., Living DNA Ltd., SelfDecode Inc., MyTrueAncestry Inc., WeGene Technology Co. Ltd., EasyDNA LLC, HomeDNA Inc., Gencove Inc., GenoMind Inc., Genos Inc., Nebula Genomics Corporation, Strategene Corporation
The consumer genomics market report table of contents includes:
1. Executive Summary
2. Consumer Genomics Market Characteristics
3. Consumer Genomics Market Trends And Strategies
4. Consumer Genomics Market – Macro Economic Scenario
5. Global Consumer Genomics Market Size and Growth
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31. Global Consumer Genomics Market Competitive Benchmarking
32. Global Consumer Genomics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Consumer Genomics Market
34. Consumer Genomics Market Future Outlook and Potential Analysis
35. Appendix
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