Consumer Genomics Market - Forecast(2024 - 2030)

Consumer Genomics Market Overview

Consumer Genomics Market size is forecast to reach 3.1 billion by 2026, growing at a CAGR of 19.5% during the forecast period 2021-2026. Consumer genomics include investigation, genetic screening sequencing, precision medicine and analysis of the genome of an individual. It helps in collecting the DNA data that enables to evaluate the usage of the diseases, drugs, and information related to ancestor. It occupy an ambiguous space between the less regulated and high regulated medical domain. 

Reduction in price of sequencing, growing consumer interests in DTC kits along with rising investments by companies in consumer genomics, and favorable government policies along with the rise in consumer genomics  are the major factors driving the growth of the market. Rise in preference of modified medicine, rise in application of molecular biology, and enhancing healthcare infrastructure is set to further enhance the overall market development of the Consumer Genomics Market for the period 2021-2026.

Report Coverage

Key Takeaways                                                                                            

Consumer Genomics Market Segment Analysis – By Technology

Next Generation Sequencing held the largest share in the Consumer Genomics Market in 2020 and is estimated to grow at a CAGR 24.3% during the forecast period 2021-2026. Next-generation sequencing  is less expensive as well as less time consuming as it generates the masses of DNA sequencing data. It can be sequenced within a single day using NGS. It is also used to decipher the human genome that is required to deliver the final draft. 

Polymerase chain reaction is widely used to make millions of copies of DNA sample that allows scientists to take a small sample of DNA. PCR primers are short pieces of single stranded DNA the are usually designed to hold the target region and it also bind to the template by complementary base pairing. It provides information regarding drug  efficacy. PCR are estimated to register the highest CAGR over the period 2021-2026.

Consumer Genomics Market Segment Analysis – By Application

Genetic Screening held the largest share in the Consumer Genomics Market in 2020 and is estimated to grow at a CAGR of 21.1% during the forecast period 2021-2026. Genetic screening involves more than just tests and requires coordination among the testing, program management levels, and clinical services to ensure accountability. In genetic ancestry testing, certain patterns of genetic variation are shared among peoples and are more closely related two individuals. 

Precision medicine for consumer genomics is an emerging approach for prevention and treatment that takes individual account variability in genes. It helps doctors and researchers to predict more accurately with treatment and prevention strategies to reduce the risk of complications. Genetic screening are estimated to register the highest CAGR over the period 2021-2026.

Consumer Genomics Market Segment Analysis – By Geography

North America dominated the Consumer Genomics Market with a major share of 37.1% in 2020. This is attributed to the increasing research funding and government support. Presence of advanced healthcare facilities, changing regulations for reimbursements, increasing government initiatives, and increasing adoption of genetic tests are increasing the growth of the market in this region.

However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing prevalence of the diseases and rising government initiatives. Increasing area of application along with the deduction in the sequencing cost are also increasing the growth of the market in this region.

Consumer Genomics Market Drivers

Rising Prevalence of Chronic Diseases

Technological Advancements

Consumer Genomics Market Challenges

Lack of Skilled and Trained Healthcare Professionals

Consumer Genomics Market Landscape

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