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DUBLIN, June 24, 2022 /PRNewswire/ — The “Direct-to-Consumer (DTC) Genetic Testing – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Direct-to-Consumer (DTC) Genetic Testing Market to Reach US$1.9 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Direct-to-Consumer (DTC) Genetic Testing estimated at US$971.7 Million in the year 2020, is projected to reach a revised size of US$1.9 Billion by 2026, growing at a CAGR of 12.3% over the analysis period.
Ancestry & Relationship Testing, one of the segments analyzed in the report, is projected to grow at a 9.8% CAGR to reach US$915.4 Million by the end of the analysis period.
Growth in the global is being driven by new technological advances and rising prevalence of many genetic disorders such as diabetes, cancer, cystic fibrosis, and Alzheimer`s disease globally. Factors such as real time drug discovery, cutting-edge diagnostic methods, and advanced treatments will propel market growth.
Increasing user awareness, disposable income, and healthcare expenditure combined with rising adoption of customized medicine to treat genetic disease are other factors driving growth in the market. Public awareness regarding the availability of DTC genetic testing in developing as well as developed countries is continually rising.
Leading market players like Ancestry and 23andMe are focusing on offering high-quality DTC genetic testing solutions that ensure accurate and effective test results. Growing awareness among Europeans and Americans regarding racial testing is also driving market demand.
Another key driver in the DTC genetic testing market includes elderly consumers who take a keen interest in their healthcare, which is intensified by access to genetic test kits that can detect genes whose variations are associated with an increased risk of developing an age-related disease such as Alzheimer`s.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nutrigenomics Testing segment is readjusted to a revised 13.6% …
Full story available on Benzinga.com
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