(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 26, 2021, 06:58 /Comserve / -- DTC (Direct to Consumer) DNA Test Kits Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The DTC DNA Test Kits Market is anticipated to grow with a CAGR of nearly 24% during the forecast period. The major factors attributing to the growth of this market are increasing demand for paternity testing, rising prevalence of hereditary diseases, and rise in interest of consumers & physicians in DTC kits & consequent rise in sales of DNA test kits.
Furthermore, the growing number of laboratories researching the DNA kits for gynecological purposes is also a major factor that drives the market growth. For instance, the National Congenital Anomaly and Rare Disease Registration Service has stated that around 3 to 6% of babies worldwide are born with a congenital anomaly every year, this increases the need for the prenatal testing for anomalies. The difficulty in understanding the results of the kits and very less information about the companies selling the kits are restraining the growth of the market.
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Furthermore the market is largely penetrating towards new research fields of medicine and healthcare as such the innovation of probes for preimplantation, prenatal, and postnatal genetic testing research drives the overall market growth.
Key Market Trends
Demand for the Ancestry Testing is Expected to Increase During the Forecast Period
An ancestry test is a DTC DNA-based test that reads specific locations of a subject's genome, to find or validate ancestral hereditary relationships or to evaluate the ethnic combination of an individual. The increasing number of people who are interested in knowing their ancestors and family tree increases the demand for DTC DNA test kits, especially in developing countries.
The increasing number of companies such as 23andMe are found to offer various DNA kits that are helpful in ancestry testing. Developed countries are also witnessing the high demand for such products as awareness about such technologies is higher.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall DTC DNA test kits market, throughout the forecast period. The growth is due to factors such as the growing prevalence of congenital anomalies and increasing government initiatives for genetic diagnosis. In the North America region, the United States holds the largest market share due to factors such as high disposable income, and easy acceptance of such kits in the country is expected to increase the demand in this region.
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However, Asia Pacific is anticipated to be the fastest-growing market due to the increasing awareness programs and developments undertaken by government bodies to accelerate genetic research in Asian countries. The Asia Pacific will proliferate at a speedy rate due to rapid technological updation in the healthcare sector.
The market studied is moderately competitive and consists of few major players. Growing biotech industry is augmenting the rise in new entrants in this market. It is belived that there will be penetration of the few small to mid sized compaies in this market.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Paternity Testing
4.2.2 Increasing Number of Hereditary Diseases
4.2.3 Rise in Interest of Consumers & Physicians in DTC Kits & Consequent Rise in Sales of DNA Test Kits
4.3 Market Restraints
4.3.1 Lack of Awareness and Proper Genetic Counselling
4.3.2 Regulatory Challenges Pertaining to the Use of DTC Genetic Tests
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Sample Type
5.1.2 Cheek Swab
5.2 By Application
5.2.1 Genetic Relatedness
5.2.2 Health & Fitness
5.2.3 Ancestry Testing
5.2.4 Other Applications
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
5.3.5 South America
188.8.131.52 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Ancestry.com LLC
6.1.3 MyHeritage Ltd
6.1.4 Gene by Gene
6.1.5 Living DNA Ltd.
6.1.6 Helix OpCo, LLC.
6.1.7 Veritas Genetics
6.1.8 Futura Genetics
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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