Global Direct-To-Consumer (DTC) Genetic Testing Market, By Service (Diagnostic Screening, Prenatal, Newborn Screening, Pre-Implantation Diagnosis, Relationship Testing), By Distribution Channel (Direct Sales, Retail Sales, Laboratory Sales) and opportunities and forecast 2020-2027
Direct-to-consumer (DTC) genetic testing is genetic tests or services, which directly advertised to consumers and purchased through consumers’ requests. The DTC genetic testing market contains two business models: one-to-one and one-to-many. The key companies operating in this market gain profit from the sales of DTC genetic testing kits to consumers and physicians and the sales of genetic data to pharmaceutical companies. This major factor is expected to boost the growth of the DTC genetic testing market.
Furthermore, factors such as the increasing old age population across the globe and increasing prevalence of chronic disorders such as cardiovascular diseases (CVDs), type 2 diabetes, diabetic retinopathy, and other chronic diseases are contributing more to the market’s growth. Moreover, increasing customer awareness about direct-to-consumer genetic testing as well as the growing prevalence of major chronic diseases has resulted in rising healthcare expenditure and the high demand for DTC genetic testing is an increase for early diagnosis of various diseases. These important factors will remarkably be contributing to the growth of the direct-to-consumer genetic testing market in the coming years.
On the downside, DTC genetic testing raises several issues such as scientific, technical, and clinical issues, along with First Amendment issues of honesty, fidelity to facts, and truth-in-advertising, are hampering the growth of the market.
Covid-19 Impact on Direct-To-Consumer (DTC) Genetic Testing Market:
In addition, the current Direct-To-Consumer (DTC) Genetic Testing Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Direct-To-Consumer (DTC) Genetic Testing Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Based on service, the Diagnostic Screening segment has significant growth in the global Direct-To-Consumer (DTC) Genetic Testing market. This is because it helps in identifying the gene responsible for chronic diseases such as cancer. This includes carrier screening and hereditary testing that are generally conducted for DTC genetic testing. According to the distribution channel, the direct sales segment generates high revenue due to pricing strategies.
Direct-To-Consumer (DTC) Genetic Testing Market, By Service
In terms of region, North America dominated the global DTC genetic testing market. This can be attributed to the importance of early diagnosis for better treatment outcomes, and a high level of consumer literacy about diseases. Similarly, Asia Pacific is expected to be the most prominent market during the forecast period. This is because of rising health care awareness and growing disposable income in this region.
Direct-To-Consumer (DTC) Genetic Testing Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)