Consumer genomics is referred to as direct-to-consumer genetic testing which involves direct collection of DNA samples from consumers and providing health reports directly to them without involving a health professional. Consumer genomics products and services including health, wellness, ancestry information and traits reports drive personalized nutrition and lifestyle changes and help in family planning. Factors such as falling genetic testing costs, increasing technologically advanced direct-to-consumer genetic tests and growing popularity of personalized medicines are fueling market growth.

Key Takeaways

Key players operating in the Global Consumer Genomics market are Ancestry, Gene By Gene, Ltd. 23andMe,Inc., Color Genomics,Inc, Myriad Genetics,Inc, Mapmygenome, Positive Biosciences, Ltd, Futura Genetics, Helix OpCo LLC, MyHeritage Ltd., Pathway Genomics, Veritas, Amgen, Inc., Xcode Life, Diagnomics, Inc., Toolbox Genomics, SomaLogic, Inc., inui Health, AgeCurve, QuickCheck Health, Biomeb, Metabolomic Discoveries GmbH, Illumina, Inc., Genetic Technologies Limited.

Key opportunities in the market include development of innovative genetic testing kits and services with focus on personalized preventive care, precision medicine and chronic disease management. Growing awareness about genetic ancestry tracing and predisposition to diseases is expected to drive huge growth.

The Global Consumer Genomics Market Size is expanding rapidly with Asia Pacific and Middle East & Africa regions expected to exhibit high growth driven by increasing healthcare expenditures, growing middle-class population and rising disposable incomes. Large untapped markets, favorable regulations and technological advancements will further propel market expansion in emerging economies.

Market Drivers

The global consumer genomics market is witnessing high growth driven by increasing adoption of direct-to-consumer genetic tests globally. Other major growth drivers include declining cost of whole genome sequencing enabling increased accessibility and affordability of tests. Growing prevalence of chronic diseases and rising demand for individualized treatment and care based on genomic data analysis is further fueling industry expansion. Additionally, increasing collaboration between biotech firms and DTC genetic testing companies to develop more robust and accurate genetic testing solutions will boost market revenues during the forecast period.