Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!

What is the Expected Growth Rate of the Consumer Genomics Market for the Period 2024 to 2033?

The size of the consumer genomics market has seen a swift expansion in the past few years. The forecast indicates an increase from $2.9 billion in 2023 to $3.48 billion in 2024, with a compound annual growth rate (CAGR) of 19.9%. The reasons for this historic period of growth can be associated with a decrease in sequencing costs, the introduction of direct-to-consumer testing, innovation from leading companies in consumer genomics, concerns over data privacy and security and the overcoming of initial adoption obstacles.

The market for consumer genomics is anticipated to expand significantly in the coming years, reaching a valuation of $7.27 billion in 2028, with a compound annual growth rate (CAGR) of 20.3%. This potential upsurge in the forecast period can be credited to numerous factors such as the enlargement of the genetic data pool, a rise in demand for disease risk assessments, integration with wearable technology, a pivot towards preemptive healthcare and the growth of genetic counseling services. Key trends expected to emerge in the forecast period include an emphasis on genetic counseling services, a decrease in sequencing costs, a growth in personalized medicine, an uptick in direct-to-consumer testing demand, and increased consciousness regarding health and wellness.

Claim Your Free Sample of the Global Consumer Genomics Market Report Today!

https://www.thebusinessresearchcompany.com/sample.aspx?id=10621&type=smp

What Factors Are Responsible for the Growth of the consumer genomics Market?

The continual rise in the usage of DTC genomics for diagnostics, genetic relatedness, sports nutrition, and personalized medicines is projected to fuel the expansion of the consumer genomics market. Direct-to-consumer (DTC) genomics test kits are home-based tests that individuals can buy to gain deeper insights into their genetic structure and potential health threats. For example, in February 2022, AlphaBiolabs-a United Kingdom-based establishment offering an array of DNA testing services such as paternity testing, ancestry testing, and drug and alcohol testing- reported that the request for prenatal paternity genomics testing jumped by 47.0% in 2021 compared to the pre-COVID-19 period. Consequently, the increasing utilization of DTC genomics in diagnostics, genetic relatedness, sports nutrition, and personalized medicines is propelling the expansion of the consumer genomics market.

Which Segments Are Important for Insight into the Consumer Genomics Market?

1) By Product: Consumables, Systems And Software, Other Products

2) By Technology: Polymerase Chain Reaction (PCR), Sequencing, Microarray, Nucleic Acid Extraction And Purification

3) By Application: Genetic Relatedness, Diagnostics, Lifestyle, Ancestry, Wellness And Nutrition, Reproductive Health, Personalized Medicine And Pharmacogenetic Testing, Sports Nutrition And Health, Other Applications

What Are the Significant Trends Reshaping the Consumer Genomics Sector?

The key trend coming to light in the consumer genomics market is escalating advancements in technology. Firms leading the consumer genomics market are prioritizing tech enhancements and product innovation to sharpen their observational abilities and retain their market standing. For example, in June 2021, QIAGEN, a prominent Netherlands-based company offering sample and assay technologies for molecular diagnostics and research in various sectors, launched the QIAprep& CRISPR Kit and Q-Primer Solutions. These innovations allow researchers to scrutinize edited genetic material with unparalleled speed and efficiency, helping them understand how their interventions have altered the DNA sequence functionality. The Kit and solutions merge liquid-based sample preparation, downstream PCR detection, and Sanger technique-based DNA sequencing.

Order Now for Fast Delivery of Your Consumer Genomics Market Report!

https://www.thebusinessresearchcompany.com/report/consumer-genomics-global-market-report

Which Regions Are Essential for the Growth of the Consumer Genomics Market?

North America was the largest region in the consumer genomics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global consumer genomics market report during the forecast period. The regions covered in the consumer genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Consumer Genomics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the consumer genomics market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Consumer Genomics Market Include

1. Consumer Genomics Market Executive Summary

2. Consumer Genomics Market Segments

3. Consumer Genomics Market Size And Template Market Growth Rate

4. Key Consumer Genomics Market Trends

5. Major Consumer Genomics Market Drivers

……

25. Key Mergers And Acquisitions In The Consumer Genomics Market

26. Top Consumer Genomics Companies

27. Consumer Genomics Market Opportunities And Strategies

28. Consumer Genomics Market, Conclusions And Recommendations

29. Appendix

Discover Related Reports by The Business Research Company:

Plant Genomics Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/plant-genomics-global-market-report

Cell and Gene Therapy Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/cell-and-genes-therapy-global-market-report

Content Streaming Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/content-streaming-global-market-report

Learn More About The Business Research Company

The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: