The consumer genomics market is expected to register a CAGR of 20% during the forecast period.
The market peaked during the COVID-19 pandemic. Consumer genomics was a valuable tool in the characterization and identification of the SARS-CoV-2 virus. It had the potential to determine the genetic sequence of a virus and help scientists understand the mutations. Throughout the pandemic, government authorities worldwide constantly worked with the private sector to bring consumer genomics as a diagnostic tool into the market.
As per the report published by Oxford University Press in March 2021, the COVID-19 pandemic sparked the development and adaptation of several informatics techniques in addition to bioinformatics research. Next-generation sequencing was the central technology for detecting genomes of SARS-CoV-2 that provided the primary data about the virus. These included computational methods for tracing and tracking infected individuals, collaborative data infrastructures for COVID-19 research, sentiment analysis techniques for evaluating the effectiveness of lockdown measures, artificial intelligence techniques, and robotics applications to support remote patient assistance.
Furthermore, post-pandemic, people have become more health-conscious, potentially leading them to use new and advanced techniques, such as consumer genomics. Hence, owing to the increasing DNA-based research and development activities and bioinformatics in developing diagnostic tools or effective therapeutics for COVID-19, the market is likely to continue its significant growth rate during the forecast period.
The major factors fueling the market growth are the rise in interest of consumers and physicians in DTC kits, advancements in technology, increasing applications of consumer genomics, favorable government policies, and the growing trend of personalized genomics. For instance, according to an article published by ScienceDirect, in 2022, direct-to-consumer (DTC) tests gained popularity. This was because consumers could purchase them directly without any test orders from healthcare professionals. Therefore, DTC tests allowed patients to be actively engaged in their health management.
The DTC industry has been booming due to the increasing awareness and desire for rapid and accessible testing by the public. Such increased demand for DTC tests is expected to drive market growth. In September 2021, MedGenome Labs launched a direct-to-consumer category under the brand name Genessense. Under the new category, MedGenome offered genetic screening tests that can be ordered online through the Genessense website or e-commerce platforms. These advantages and initiatives for DTC tests on consumer genomics are expected to drive the market's growth over the forecast period.
The increasing product innovation and collaboration by key players will also support market growth over the forecast period. In July 2022, 1health.io Inc. expanded its testing in both the clinical and direct-to-consumer markets rapidly and securely. It also partnered with Apollo Health Group to bring Apollo’s specialized high-performing NGS tests, such as hereditary cancer genetic screenings (CGx) and pharmacogenetics screenings (PGx), to the broader clinical market. Such expansions are also aiding the market growth.
Thus, the abovementioned factors are positively impacting the market growth. However, stringent regulatory challenges and misleading results will create challenges in adopting home-based genetic tests. This is expected to hinder market growth over the forecast period.
According to a research article published in Plos One in February 2022, the future of genomic analyses rests in the ability to understand large and ever-growing data. Genetic sequence analysis is mainly suited for determining genetic relatedness, particularly for human identification. Furthermore, according to a report published by the University of Cambridge, in November 2021, compared to normal tests, genome sequencing from a single blood test detects 31% more instances of uncommon genetic diseases. This is expected to impact segmental growth.
Additionally, genetic relatedness has been extensively harnessed in oncology screening. The high incidence of cancers worldwide is expected to drive the studied market. For instance, according to the American Cancer Society, 1,898,160 new cancer cases were projected to occur in 2021 in the United States. Additionally, the unknown cancer incidence is estimated to reach 30.2 million by 2040, as per the International Agency for Research on Cancer (IARC). Thus, genetic screening aids in providing information on whether cancer runs in the family and the risk factors associated with the development of cancers in the future.
Thus, given the factors mentioned above, the genetic-relatedness segment is expected to propel significantly over the forecast period.
Additionally, the high concentration of major regional players, along with numerous product approval and launches, is a significant driving factor. For instance, in October 2021, F. Hoffmann-La Roche Ltd launched AVENIO Tumor Tissue CGP Kit, a comprehensive genomic profiling kit to make tailored cancer research more accessible. This kit provides comprehensive genomic profiling of solid tumors from formalin-fixed paraffin-embedded (FFPE) tissue samples. Thus, given the growing cancer incidence and strategies key regional players take, the consumer genomics market is expected to boost.
Given the factors above, the studied market is expected to propel significantly in North America over the forecast period.
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The market peaked during the COVID-19 pandemic. Consumer genomics was a valuable tool in the characterization and identification of the SARS-CoV-2 virus. It had the potential to determine the genetic sequence of a virus and help scientists understand the mutations. Throughout the pandemic, government authorities worldwide constantly worked with the private sector to bring consumer genomics as a diagnostic tool into the market.
As per the report published by Oxford University Press in March 2021, the COVID-19 pandemic sparked the development and adaptation of several informatics techniques in addition to bioinformatics research. Next-generation sequencing was the central technology for detecting genomes of SARS-CoV-2 that provided the primary data about the virus. These included computational methods for tracing and tracking infected individuals, collaborative data infrastructures for COVID-19 research, sentiment analysis techniques for evaluating the effectiveness of lockdown measures, artificial intelligence techniques, and robotics applications to support remote patient assistance.
Furthermore, post-pandemic, people have become more health-conscious, potentially leading them to use new and advanced techniques, such as consumer genomics. Hence, owing to the increasing DNA-based research and development activities and bioinformatics in developing diagnostic tools or effective therapeutics for COVID-19, the market is likely to continue its significant growth rate during the forecast period.
The major factors fueling the market growth are the rise in interest of consumers and physicians in DTC kits, advancements in technology, increasing applications of consumer genomics, favorable government policies, and the growing trend of personalized genomics. For instance, according to an article published by ScienceDirect, in 2022, direct-to-consumer (DTC) tests gained popularity. This was because consumers could purchase them directly without any test orders from healthcare professionals. Therefore, DTC tests allowed patients to be actively engaged in their health management.
The DTC industry has been booming due to the increasing awareness and desire for rapid and accessible testing by the public. Such increased demand for DTC tests is expected to drive market growth. In September 2021, MedGenome Labs launched a direct-to-consumer category under the brand name Genessense. Under the new category, MedGenome offered genetic screening tests that can be ordered online through the Genessense website or e-commerce platforms. These advantages and initiatives for DTC tests on consumer genomics are expected to drive the market's growth over the forecast period.
The increasing product innovation and collaboration by key players will also support market growth over the forecast period. In July 2022, 1health.io Inc. expanded its testing in both the clinical and direct-to-consumer markets rapidly and securely. It also partnered with Apollo Health Group to bring Apollo’s specialized high-performing NGS tests, such as hereditary cancer genetic screenings (CGx) and pharmacogenetics screenings (PGx), to the broader clinical market. Such expansions are also aiding the market growth.
Thus, the abovementioned factors are positively impacting the market growth. However, stringent regulatory challenges and misleading results will create challenges in adopting home-based genetic tests. This is expected to hinder market growth over the forecast period.
Consumer Genomics Market Trends
Genetic Relatedness Expected to Witness High Growth
Genetic relatedness generates a large amount of sequencing and screening data in a massively parallel manner to provide a differential tool for the patient. Several companies in the market give genomic consumer services for a range of genetic disorders and screening of DNA, RNA, and specialized samples.According to a research article published in Plos One in February 2022, the future of genomic analyses rests in the ability to understand large and ever-growing data. Genetic sequence analysis is mainly suited for determining genetic relatedness, particularly for human identification. Furthermore, according to a report published by the University of Cambridge, in November 2021, compared to normal tests, genome sequencing from a single blood test detects 31% more instances of uncommon genetic diseases. This is expected to impact segmental growth.
Additionally, genetic relatedness has been extensively harnessed in oncology screening. The high incidence of cancers worldwide is expected to drive the studied market. For instance, according to the American Cancer Society, 1,898,160 new cancer cases were projected to occur in 2021 in the United States. Additionally, the unknown cancer incidence is estimated to reach 30.2 million by 2040, as per the International Agency for Research on Cancer (IARC). Thus, genetic screening aids in providing information on whether cancer runs in the family and the risk factors associated with the development of cancers in the future.
Thus, given the factors mentioned above, the genetic-relatedness segment is expected to propel significantly over the forecast period.
North America Expected to Dominate Consumer Genomics Market
North America is expected to dominate the market throughout the forecast period. The presence of high per capita healthcare expenditure, high patient awareness levels, and high prevalence of target diseases contribute to the growth of the market studied in the region. According to the Centers for Disease Control and Prevention data on chronic diseases updated in July 2022, chronic diseases are the leading cause of death and disability every year in the United States. The rising number of chronic diseases in the nation adds to the country's consumer genomics growth.Additionally, the high concentration of major regional players, along with numerous product approval and launches, is a significant driving factor. For instance, in October 2021, F. Hoffmann-La Roche Ltd launched AVENIO Tumor Tissue CGP Kit, a comprehensive genomic profiling kit to make tailored cancer research more accessible. This kit provides comprehensive genomic profiling of solid tumors from formalin-fixed paraffin-embedded (FFPE) tissue samples. Thus, given the growing cancer incidence and strategies key regional players take, the consumer genomics market is expected to boost.
Given the factors above, the studied market is expected to propel significantly in North America over the forecast period.
Consumer Genomics Market Competitor Analysis
The consumer genomics market is moderately fragmented due to the presence of companies operating globally and regionally. The competitive landscape includes an analysis of international and local companies that hold market shares and are well-known, including 23andMe, Inc., Positive Biosciences, Ltd, Futura Genetics, Helix OpCo LLC, and MyHeritage Ltd, among others.Additional benefits of purchasing the report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 23andMe, Inc.
- Positive Biosciences, Ltd
- Futura Genetics
- Helix OpCo LLC
- MyHeritage Ltd
- Pathway Genomics
- Veritas
- Illumina, Inc.
- Xcode Life
- Toolbox Genomics
Methodology
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