The global consumer genomics market size is projected to reach USD 4.63 billion by 2025 expanding at a CAGR of 20.3% during the forecast period

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Aug 20, 2019, 09:20 ET

NEW YORK, Aug. 20, 2019 /PRNewswire/ --

Consumer Genomics Market Size, Share & Trends Analysis Report By Application (Genetic Relatedness, Diagnostics, Lifestyle, Wellness, & Nutrition, Ancestry), By Region, And Segment Forecasts, 2019 - 2025

Download the full report: https://www.reportbuyer.com/product/5807282/?utm_source=PRN The global consumer genomics market size is projected to reach USD 4.63 billion by 2025 expanding at a CAGR of 20.3% during the forecast period. Key factors driving the market include increasing awareness about implementing the genomic tests for the prediction of disease susceptibility and adoption of these tests as a personalized guide to fitness. Consumer genomic products are marketed through online websites that encourage customers to implement end-to-end solutions. These solutions can be applied for screening vulnerabilities of inherited diseases, person's ancestry, carrier screening with just a swab of the saliva sample at their home settings.

The emergence of new consumer genomics market participants, such as Helix and Pathway Genomics, and the development of specific and user-friendly DTC tests lead to increased competition.Expanding scope of application of personalized medicine with the advancements in genetic technologies and single nucleotide polymorphism genotyping has paved the path for the treatment of complex diseases.

Reducing costs of sequencing has made it possible to deliver genetic test analysis at affordable prices. Thus, the growing trend of DTC testing has evolved and is empowering the customers to have an in-depth analysis of their genomic data to assist them in making proactive health-related decisions.

Further key findings from the study suggest:

• Advancements in the field of diagnostics supports the use of genomic data to extract the information about disease susceptibility, thereby fueling the consumer genomics market growth

• Easy availability of maternal and paternal tests with minimal requirement of genetic counseling attributes to the dominant share of genetic relatedness

• Growing awareness about non-invasive prenatal testing among drives the reproductive health application segment

• Presence of key companies like AncestryDNA and 23andMe and number of ongoing genomics-related studies in U.S. contribute to the largest share of North America

• Asia Pacific is expected to witness fastest CAGR from 2019 to 2025 owing to rising awareness about consumer genetic tests along with evolving genomic landscape in China

• Companies in the global market include Ancestry; 23andMe, Inc.; Helix OpCo LLC; Xcode Life; Diagnomics, Inc.; Gene By Gene, Ltd. (FamilyTree DNA); Color Genomics; Positive Biosciences, Ltd.; Futura Genetics; Mapmygenome; Pathway Genomics; MyHeritage Ltd.; and Toolbox Genomics

• These companies have undertaken several initiatives, such as the inclusion of pre- and post-genetic counseling for consumers

Download the full report: https://www.reportbuyer.com/product/5807282/?utm_source=PRN

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