Predictive Genetic Testing and Consumer Genomics Market 2031

Report Description

The global predictive genetic testing and consumer genomics market size is estimated to expand at a considerable CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to rising numbers of collaborative research models and favourable policies by government regulatory authorities.
 

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The predictive genetic testing, based on mutation in gene associated with a particular disease, is a method in which medical professionals gather information about physiological condition of human body. Depending on the results, the medical professional try to predict whether or not an individual is likely to develop disease or other biological abnormalities in the later years in life. This test is carried out by using blood sample that further helps to examine in the genetic laboratory to identify the change associated in some genes or genes related to a particular disease or disorder. At present, genetic predictive testing is used to identify various diseases such as cancer, Huntington disease, hereditary ataxia & spastic paraplegia, myotonic dystrophy, and hypertrophic cardiomyopathy.

With the increasing demand for advanced genetic testing solutions, several regulatory bodies are increasingly introducing policies for improving efficacy of genetic test. These processes are expected to help manufacturers and medical professionals in standardizing the process that can further enhance selling of their testing devices. Predictive genetic testing and services that directly reach customers are largely executed on next generation sequencing technology. Increasing technological automation integrated with proficient and fast paced genomic methods is a key market trend anticipated to foster the market growth.

Market Trends, Drivers, Restraints, and Opportunities

• Rising number of collaborative research models between key biotech players are providing attainable services to customers. This is expected to propel market expansion.
• Favorable policies of government agencies encouraging academic research and studies to enhance patient care by improving predictive genetic testing method are key drivers for the market.
• The outbreak of COVID-19 pandemic is expected to propel the market growth due to increasing concerns of several risks associated with chronic disease patients.
• Possible infection or bleeding in the testing of blood sample or analysis and lack of skilled medical professionals & infrastructure in the laboratories are key challenges that can hamper the market growth.
• Development of advanced technology such as Artificial Intelligence (AI) and increasing awareness among people for inherited disease diagnosis are creating key opportunities for the market expansion during the forecast period.

Scope of the Report

The report on the global predictive genetic testing and consumer genomics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Global Predictive Genetic Testing and Consumer Genomics Market Segment Insights

Predictive testing segment is expected to grow at a rapid pace
Based on test types, the global predictive genetic testing and consumer market is divided into predictive testing, consumer genomics, and wellness genomics. The predictive testing segment is further divided into general susceptibility test, predictive diagnostics, and population screening. The wellness genomics segment is subdivided into nutria genetics, skin & metabolism genetics, and others. The predictive testing segment is anticipated to grow at a rapid pace during the forecast period owing to high utilization of the testing type in medical laboratories and gene mutation research for prognosis of disease possibility namely neurodegenerative disorders and cancer. Continuous research mainly focused on genetic vulnerability diagnosis, accelerating adoption of tests for cancer screening, and existence of more than one genetic panel for identification of various gene mutations are key factors driving the segment growth. However, the consumer genomics segment is anticipated to expand at a rapid pace during the forecast period due to fast paced commercialization that enable genetic test directly reach to customer.

Breast & ovarian cancer is projected to account for a key share
On the basis of applications, the market consists of predictive genetic testing and consumer genomics. The segment is further divided into breast & ovarian cancer, cardiovascular screening, diabetic screening & monitoring, colon cancer, Parkinsonism/Alzheimer’s disease, urologic screening/prostate cancer screening, orthopedic & musculoskeletal, other cancer screening, and other diseases. The breast & ovarian cancer segment is expected to grow at rapid pace during the forecast period due to global high prevalence rate of breast and ovarian cancer along with a significant rise in the usage of gene predictive testing.

DTC segment constituted dominant market share
In terms of setting types, the global predictive genetic testing and consumer market is segregated into DTC and professional. The direct-to-customer (DTC) segment held a major market share in 2019 and is projected to expand at significant rate in the upcoming years. The broad accessibility of direct to customer test at low-cost along with increasing awareness of DTC between individuals which subsequently increases supply of products related to DTC testing method is expected to boost segment growth. Gynecology and endocrinology-based research and diagnosis are closely associated with widely utilization of predictive genetic testing that offer characterization of genes associated mutation in adenomyosis, endometriosis, and postmenopausal osteoporosis. This is further enable to grasp a large share of the total revenue by the segment.
 

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North America is projected to register a major market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to register a significant CAGR during the forecast period owing to increase in the adoption rate of technology, well developed infrastructure, and increasing incidence of chronic disease. The presence of key global players especially in the US presents another major factor driving the regional market growth. On the other hand, the market in Asia Pacific is expected to expand in the upcoming years due to increased health expenditure from growing number of the health-conscious population in the region. Increasing geriatric populace, changing lifestyle, and rising government initiative for healthcare awareness are the factors that estimated to foster the regional market growth during the forecast period.

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