The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s consumer genomics market report forecasts the consumer genomics market size to grow to $6.0 Billion by 2027, with a CAGR (compound annual growth rate) of almost 20%.

Learn More On The Consumer Genomics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/consumer-genomics-global-market-report

Consumer Genomics Market Size Forecast
The global consumer genomics market is expected to grow from $2.42 billion in 2022 to $2.90 billion in 2023 at a compound annual growth rate (CAGR) of 19.55%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global consumer genomics market size is expected to reach $6.0 billion in 2027 at a CAGR of 19.94%.

North America held the largest consumer genomics market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Consumer Genomics Market Driver ­– Growth In Applications Of DTC Genomics In Diagnostics, Genetic Relatedness, Sports Nutrition And Personalized Medicines
For example, in February 2022, AlphaBiolabs, a UK-based company that offers a variety of DNA testing services such as paternity testing, ancestry testing, and drug and alcohol testing, published a journal stating that demand for prenatal paternity genomics testing increased by 47.0% in 2021 compared to pre-pandemic days. As a result, the rising applications of DTC genomics in diagnostics, genetic relatedness, sports nutrition, and personalised pharmaceuticals are propelling the consumer genomics industry forward.

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Key Consumer Genomics Market Trend – Technological Advancement
To strengthen their observation power and maintain their market position, major firms in the consumer genomics market are focusing on technological developments and the development of new products. In June 2021, for example, QIAGEN, a Netherlands-based provider of sample and assay technologies for molecular diagnostics, applied testing, academic, and pharmaceutical research, announced the release of the QIAprep& CRISPR Kit and Q-Primer Solutions, which allow researchers to analyse edited genetic material with unprecedented speed and efficiency to determine how their interventions have changed the function of the DNA sequence. The kit and treatments include liquid-based sample preparation, downstream PCR detection, and Sanger DNA sequencing.

Consumer Genomics Market Segment
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

Consumer Genomics Market Major Players and Strategies
Major players in the consumer genomics market are 23andMe Inc., Gene By Gene Ltd., Mapmygenome Ltd., Ancestry.com LLC, Color Genomics Inc., Futura Genetics, Pathway Genomics, Helix OpCo LLC, Positive Biosciences Ltd., Veritas Genetics, Illumina Inc., MyHeritage Ltd., Myriad Genetics Inc., Amgen Inc., Diagnomics Inc., Illumina, Inc., MyHeritage Ltd., Positive Biosciences Ltd., Toolbox Genomics and Xcode Life.

Myriad Genetics, Inc., a genetic testing firm based in the United States, paid $67.5 million for Gateway Genomics, LLC in November 2022. The acquisition expands access to personalised genetic tests both throughout and beyond a woman’s reproductive stage of life, adding to Myriad Genetics’ range of women’s health products. Gateway Genomics is a personal genomics firm established in the United States that manufactures the SneakPeek early gender DNA test for determining a baby’s gender.

The Consumer Genomics Global Market Report 2023 covers regional data on consumer genomics market size, consumer genomics market trends and drivers, opportunities, strategies, and consumer genomics market competitor analysis. The countries covered in the consumer genomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Consumer genomics is a subfield of genetics that focuses on providing genetic information to consumers directly, generally through commercial genetic testing services. Individual DNA samples are used to develop reports that provide information about genetic predispositions to certain traits, diseases, or conditions.

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