Convenience, Privacy, and Cost Benefits Drive Proliferation of Direct-to-Consumer (DTC) Genetic Testing
Published: March 2017
- Code: MCP-6897
- Pages: 107
- Tables: 8
- Companies: 41
DIRECT-TO-CONSUMER (DTC) GENETIC TESTING: A RESEARCH BRIEF
The global market for Direct-to-Consumer (DTC) Genetic Testing is projected to exceed US$350 million by 2022, spurred by strong initiatives taken to drive public health education, emerging era of consumer self-management of diseases and treatment, growing prominence of personalized healthcare, declining costs of tests and ease of ordering a test. The growing incidence of genetic diseases and rising cost of traditional healthcare at hospitals and physician offices are helping drive interest in at-home genetic tests. The United States represents the largest market worldwide supported by high levels of consumer literacy about diseases, and the importance of early diagnosis for better treatment outcomes. Asia-Pacific is poised to grow at the fastest CAGR of over 31% through the analysis period driven by growing population and a parallel increase in healthcare burden; increased competition in healthcare diagnostics; growing disposable incomes and rising healthcare spending; digitalizing lifestyles of the expanding base of middle class population well conversant with the dynamics of electronic healthcare including mHealth and tele-health.
- Technology Developments Making DNA Sequencing Exponentially Faster and Affordable Provide the Cornerstone for the Growth of DTC Genetic Testing
- Developments in Internet Infrastructure Including Bandwidth Improvements Encourage the Evolution of Business Models That Provide Genetic Information via the Internet
- Unanimous Banning of the Patentability of Human Genes and Gene Sequences in Several Countries Across the World Encourages the Proliferation and Penetration of DTC Genetic Testing as a Competitive Substitute to Laboratory Clinical Tests
- Non-Invasive Prenatal Genetic Testing, Cystic Fibrosis Testing & Genetic Testing of Inherited Eye Diseases: The Popular Classes of DTC Genetic Testing
- Regulatory Restrictions & Issues Pertaining to Invasion of Genetic Privacy: Key Challenges to Growth
Summary of Findings
- Market Estimates and Forecasts for 2014-2022
Timeline for Analysis
- US, Canada, Japan, Europe, Asia-Pacific, and Rest of World
Geographic Markets Analyzed
- 23andMe, Inc.
- Ancestry.com, LLC
- Any Lab Test Now
- Color Genomics, Inc.
- Counsyl, Inc.
- Direct Laboratory Services, LLC
- Gene by Gene, Ltd.
- Laboratory Corporation of America® Holdings
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable