Global Direct To Consumer Kit Market Sales Is Expected To Surpass USD 10 Billion By 2028 Says Kuick Research
Singapore, May 19, 2022 (GLOBE NEWSWIRE) -- Home DNA Test Kit Market Opportunity Forecast 2028 Report Highlights:
Global DNA Test Kit Market Opportunity > USD 10 Billion by 2028
DNA Test Kit Price Analysis by Company, Country & Indication
DNA Testing Kit Availability By Country & Application
Home Genetic Testing Kit Market Analysis by Application: Ancestry, Nutrigenomics, Parenting, Chronic Diseases
Ancestry Genetic Testing Kit Market Opportunity > USD 2 Billion
Global Market Analysis By Country: US, Canada, UK, Japan, India, China, Russia, Taiwan, South Korea, Europe, Singapore, Malaysia, Turkey, Australia, middle East
Download Report: https://www.kuickresearch.com/report-dna-test-kit-market
With the success in science and technology there is significant reduction in the cost of sequencing and genotyping for genetic testing. Genetic testing refers to a medical test which analyzes the changes in gene, chromosome, or proteins to identify potential diseases or susceptibility to the disease. Recently, home DNA test kits or direct to consumer genetic testing kits are becoming popular among population. Home DNA kits are a way of providing genetic tests to consumers with zero or partial involvement of an independent healthcare provider. These kits are directly sold to the consumer through website or newspaper media.
In comparison to conventional genetic testing, home DNA testing kits over several advantages, which help in boosting their market growth. The conventional genetic testing are mainly aimed at diagnosing and treating patients’ diseases, mainly limited to genetic diseases or cancers. However, home DNA kits are indicated for wide range of genetic tests for diseases, biometric/life-related concerns, such as obesity, nutrition, skin, hair loss, ancestry, and life cycle. Apart from this, the home DNA kits are relatively cheaper and faster than genetic testing carried out in hospitals. The sample in home kits are collected non-invasively, such as through gathering saliva or scratching the inside of one’s mouth with a cotton swab, instead of drawing blood, as is performed at the hospital.
Currently, several home DNA kits have gained entry into the market which provides information on various things including ancestry, parenting, nutrients, carrier testing, and diseases such as cancer, cardiovascular, diabetes, and others. The major kits entered into the market include 23andme, deCODE genetics, pathway genomics, Color genomics, and others. 23andMe is one of the pioneers and widely used home DNA kit which analyses three main categories including ancestry, health, and traits.
Apart from their several conferred advantages, the home DNA kits also have several pitfalls, which need to be overcome. These kits often do not provide conclusive results on whether the consumer will develop a disease or not. Most genetic tests performed by home DNA kits are limited to few major genetic variants related to the phenotypes of interest, which leads to poor discriminatory power. Apart from genetic factors, several factors such as age, race, nutrition, and stress also contribute in the development of diseases. The consumer may make decisions based on false DNA kits results which cause damage and stress to patients.
The number of companies providing direct-to-consumer genetic testing is growing, along with the range of health conditions and traits covered by these tests. Because there is currently little regulation of direct-to-consumer genetic testing services, it attracts several pharmaceutical companies to invest in this sector. The major key players in the market include Ancestry, Color Genomics, Easy DNA, FamilytreeDNA (Gene By Gene), Full Genome Corporation, Helix OpCo LLC, Identigene, Karmagenes, Living DNA, Mapmygenome, MyHeritage, Pathway genomics, Genesis Healthcare, and 23andMe.
The pharmaceutical companies have adopted several organic and inorganic business strategies to garner more revenue share and sustain market competition. In January 2021, myDNA, a major Australian genomics company, announced a merger with FamilyTreeDNA, a US-based consumer DNA test company, and with Gene By Gene, the parent company of FamilyTreeDNA. Furthermore, 23andMe recently announced that it had been merging with VG Acquisition Corporation, which will further enhance the growth of market during the forecast period.
The home based DNA genetic testing market's growth has been primarily attributed to the major drivers in this market, such as the growing amount of direct-to-consumer genetic testing, increasing research funding in the field of molecular biology, and an increase in awareness and acceptance of personalized medicine on a global level. Moreover, presence of major industry players in the market and increasing technological advancements will boost the global market growth. Increasing prevalence of genetic diseases is another factor that positively impacts the home DNA kit market. As per our analysis, the global home DNA kits market is expected to surpass US$ 10 Billion by 2028. Apart from this, a significant rise in market in 2020 is mainly attributed to increase in prevalence of COVID-19 and high demand of home kits for its identification.
CONTACT: Contact: Neeraj Chawla Research Head Kuick Research email@example.com +91-9810410366