Global Consumer Genomics Market Size and Forecast 2033 | Top Major Players Analysis

The Consumer Genomics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Consumer Genomics Global Market Report 2024, 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.

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.

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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

Technological advancements are the key trend gaining popularity in the consumer genomics market. Major companies involved in the consumer genomics market are focused on technology advancements and innovating new products to improve their observation power and sustain their position in the market. For Instance, in June 2021, QIAGEN, a Netherlands-based provider of sample and assay technologies for molecular diagnostics, applied testing, academic, and pharmaceutical research, announced the release of the QIAprep&amp CRISPR Kit and Q-Primer Solutions, which enable researchers to analyze edited genetic material with unprecedented speed and efficiency to determine how their interventions have changed the function of the DNA sequence. Kit and remedies combine liquid-based sample preparation, downstream PCR detection, and DNA sequencing using the Sanger technique.

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
….
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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