According to Acumen Research and Consulting, the global predictive genetic testing & consumer/wellness genomics market is expected to grow at noteworthy CAGR around 13.2 % throughout the forecast period and reach around US$ 9 billion by 2026.
Genetic testing has become more popular as a pre-symptomatof disease in the prediction of potential hazards by offering data on the chromosomes and genetic mutations of an individual. Genetic testing in public health methods, particularly in developed countries is comparatively new but quickly emerging. It is used more and more to guide dietary policies and results of practice in a variety of conditions. Huntington disease, cystic fibrosis, phenylketonuria, downn syndrome, breast cancer and sickle-cell anemia are common diseases. In general, it includes the identification of genetic characteristics which could cause disease in subsequent years of life in healthy people. Genetic susceptibility, predictive diagnosis and demographic screening may be among the most prevalent of predictive genetic testing. They can be helpful in individuals with family history of some genetic disorders treated. The implementation of the whole genome sequencing to classify people under different risk kinds for different illnesses typically includes consumer genomics. Wellness genomics are used to help people make adequate health choices that encourage their well-being and help maintain better health. Typical data involves different genotypes and clinical data. Wellness and the genomics of consumers are a major part of health and wellness choices in different populations in conjunction with preventive drugs.
The report provides analysis of global market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
One of the main growth drivers is the expansion of the horizon of genetic prediction testing as a result of the increased amount of partner models between leading suppliers in the genomics sector. New partnerships allow businesses to offer consumer viable end-to-end alternatives, thus increasing the rate of client acceptance. These partnerships between government authorities and research organizations also improve the prospect of entry into the predictive field of genetic testing. Market advancements are complemented by a move towards the efficacy of genetic testing by federal legislative bodies ' concerns. This involves helping producers and doctors standardize the operation, thereby improving their sales volume.
The next-generation platform sequencing (NGS) is mainly used for predictive genetic testing and directly to consumer testing. Growing automation with sequencing methodologies is expected to improve predictive genetic tests based on the NGS principle, and implementation of effective and fast genomic sequencing processes.
The implementation of niche and fragmented point-of-care solutions throughout the genomic value chain is driving the market with NGS protocols for delivery. Furthermore, the increased penetration of outsourcing has led in a range of firms involved in offering sample-to-insight services or' sequence-as - a-service' services.
Test Type Stance
Predictive tests are extremely prized for anticipating risk of illnesses like neurodegenerative diseases and cancer in clinical procedures and translational research. In 2018, it was thus able to account for the biggest share. The paradigm "predict and deter" will probably increase the public's consciousness of early screening programmes. Continuing R&D activity in genetic susceptibility testing encouraged the introduction by identifying an ideal therapy program of cancer-sensitivity testing and suitable predictions. The presence of multigene panels for the identification of various gene variants or mutations also has accelerated the implementation of susceptibility tests to boost income production. The profit development of consumer genomics over the forecast period is expected due to the quick marketing of direct genetic tests to consumers. DTC tests enable users to gain insight into their ancestors, families and illness risk.
In 2018 the revenue flow from predictive breast and ovarian cancer trials was shown to be the highest in terms of preview genetic testing and consumer / genomics market. This segment is driven by a elevated incidence of breast and ovarian cancer worldwide, along with significant penetration of susceptibility gene tests. BRCA1 and BRCA2 mutations have been identified as a non-profit organisation that is hereditary to around 5–10 percent of the US breast and ovary cancer. Similar growth trends in the industry are anticipated in the disease indicator section because products covering trials for several disease classifications are available. Predictive genetic tests and predispositional ones help orthopedic surgeons and doctors to know before the onsets of diseases the danger of the disease growth, and thus drive this section considerably.
Setting Type Outlook
DTC (direct to consumers), due to the wider immediate accessibility to customer testing at cost-effectively-priced prices and increasing awareness of DTC testing methods amongst patients, has retained the biggest income share in 2018. This fact led to an rise in DTC test kits ' sales volume.
As fresh entrant entries take up approaches such as the start of gene-based services as well as post-genetic DTC counseling as an additional service, big players compete with fresh rivals on this market. This, however, led to a decrease in the penetration of professional exams, as customers are more inclined towards DTC testing suppliers than doctors. The prescription rate for these products is anticipated to improve significantly with the orientation of doctors on that market, thereby improving use in professional environments.
Due to the existence of several players in the United States, North America dominated the industry by income. These companies hold several patents relating to genomics and predictive testing. A number of development initiatives are taken by participants in this project to maintain their share and help generate greater income in the Region. In July 2018, for example, 23 and Me Inc. worked with GlaxoSmithKline plc to find novel goals for clearing up progressive pathways to diseases and create therapies for eradication of diseases. Asia Pacific is expected to record the highest CAGR, as both disposable earnings and health expenditures are growing in patients in nations in this area. Besides demand development, supplier potential in this region is anticipated to make significant strides over the next few years. In developing economies, prominent members use distribution partners to offer services.
Market By Test Type
Market By Application
By Setting Type
The market research study on “Predictive Genetic Testing and Consumer Wellness Genomics Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global predictive genetic testing & consumer/wellness genomics market segments with market dynamics and their impact. The report also covers basic technology development policies.
This report provides an analysis of the latest trends in the industry in each sub-segment between 2015 and 2026 for a growth in revenues at the global, regional and national levels. In the context of that research, ARC segmented on a sample type, implementation, setting type and region as the worldwide predictive genetic test and consumer / goodness genomics market report:
Key Players & Strategies
Some of the main market participants are Myriad Genetics, Inc 23andMe, Inc.; F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific, Inc.; Genesis Genetics; Abbott Laboratories; Agilent Technologies; BGI; Bio-Rad Laboratories Inc.; Counsyl, Inc.; Illumina, Inc.; and ARUP Laboratories. Several main players have introduced different agreements and models of cooperation between themselves and pharmaceutical producers. These partnerships help to benefit both vertical progress and consequent development.
According to the Acumen Research and Consulting, The global predictive genetic testing and consumer wellness genomics market value is expected to reach around US$ 9 billion by 2026.
According to the Acumen Research and Consulting, The global predictive genetic testing and consumer wellness genomics market value will witness over 13.2% CAGR from 2019 to 2026.
The major companies operating in the global predictive genetic testing and consumer wellness genomics industry are Myriad Genetics, Inc 23andMe, Inc.; F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific, Inc.; Genesis Genetics; Abbott Laboratories; Agilent Technologies; BGI; Bio-Rad Laboratories Inc.; Counsyl, Inc.; Illumina, Inc.; and ARUP Laboratories.
The main growth drivers is the expansion of the horizon of genetic prediction testing as a result of the increased amount of partner models between leading suppliers in the genomics sector.