Analysis - by Test Type (Ancestry Testing, Predictive Testing, Nutrigenomics Testing, Carrier Testing, and Others), Technology (Whole Genome Sequencing, Single Nucleotide Polymorphism Chips, Targeted Analysis, and Others), and Distribution Channel (Online and Offline)
No. of Pages:
77
|
Report Code:
BMIRE00029623
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Category:
Life Sciences
The Europe direct-to-consumer genetic testing market was valued at US$ 507.98 million in 2022 and is expected to reach US$ 2,103.66 million by 2030; it is estimated to grow at a CAGR of 19.4% from 2022 to 2030.
Increasing Awareness About Potential Benefits of Genetic Testing Fuels the Europe Direct-to-Consumer Genetic Testing Market
Consumers are increasingly driven by self-curiosity and empowerment, reflected by increased awareness of services that offer genetic testing and follow-up counseling. Awareness and acceptance of genetic testing is steadily increasing among the population worldwide. The shift from passive to empowered and self-aware customers is driving the genetic testing market. The inherent accessibility of direct-to-consumer genetic testing (DTC-GT) is a major advantage, giving consumers free access to their genetic information and personalized insights and recommendations. Many industries are seeing a significant increase in customers seeking tailored products and experiences, with an increased willingness to pay to identify and meet individual needs.
Genetic testing plays an important role in addressing the increasing burden of various diseases, such as diabetes and certain cancers, by eliminating the need for unnecessary examinations and screening tests and pointing the person to the best available options for prevention, treatment, and monitoring of the condition. The role of genetic testing in all areas of medicine is rapidly increasing. Genetic testing is already speeding up diagnoses, and it aids in identifying people with a genetic predisposition to highly resilient diseases. Preconception and prenatal genetic testing assist potential patients with reproductive decisions by informing them of their carrier status for genetic disorders.
The increasing awareness of the importance of genetic variations across a wide range of phenotypes associated with different diseases is further expected to promote market growth. These tests reveal whether a person has a genetic predisposition to a particular disease or phenotype of concern, which can be diagnosed as early as possible to initiate the disease treatment. The first sequencing of the human genome and advances in genome sequencing technology have enabled rapid growth in genomics research. This has also led to direct-to-consumer genetic testing becoming a new service. The Europe direct-to-consumer genetic testing market has influenced many people as these tests provide valid information about various health risks, personal characteristics, and overall well-being. Further, the rapid transition of the clinical laboratory workforce to DTC-GT is another crucial factor driving the market. For example, according to MIT Technology Review, approximately 8%, or nearly 26 million, people in the US took DNA tests in 2019. That number is expected to rise to over 100 million in the coming years.
Thus, the growing awareness among the population regarding genetic testing drives the direct-to-consumer genetic testing market.
Europe Direct-to-Consumer Genetic Testing Market Overview
The Europe direct-to-consumer genetic testing market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. The regional market is expected to grow significantly in the coming years owing to the rising awareness regarding genetic tests, and rising prevalence of genetic disorders and cancer. The rising technological advancements in the past few years have opened numerous opportunities for the direct-to-consumer genetic testing market expansion. The development of customized testing kits for niche therapeutic areas and rising prevalence of chronic diseases benefits the direct-to-consumer genetic testing market in Germany. Moreover, genetics has become vital in clinical practices with an exponential drop in the cost of an individual's genome sequencing. Genetics provides doctors with valuable presymptomatic diagnostic and, in some cases, analytical tools, which can be used to manage diseases more effectively and take preventive actions. The exponential fall in the price of genome analysis tools also allows individuals to access their genetic profiles quickly and economically.
According to the German Cancer Research Center, breast cancer was diagnosed in nearly 69,000 women and 700-800 men in Germany in 2022. This makes breast cancer one of the most frequently occurring cancers in Germany. The government of Germany announced a plan to include Breast Cancer gene 1 (BRCA) genetic testing in the national cancer plan, which was initiated in 2008 with an aim to ensure women who are at a higher genetic risk of breast cancer are legally entitled to thorough screening and risk-reducing options. The increasing focus of the German government on regulating and creating awareness regarding genetic tests triggers the adoption of direct-to-consumer genetic tests across Germany.
Europe Direct-to-Consumer Genetic Testing Market Revenue and Forecast to 2030 (US$ Million)
Europe Direct-To-Consumer Genetic Testing Market Segmentation
The Europe direct-to-consumer genetic testing market is segmented into test type, technology, distribution channel, and country.
Based on test type, the Europe direct-to-consumer genetic testing market is segmented into ancestry testing, predictive testing, nutrigenomics testing, carrier testing, and others. The ancestry testing market segment held the largest share in 2022.
In terms of technology, the Europe direct-to-consumer genetic testing market is categorized into whole genome sequencing, single nucleotide polymorphism chips, targeted analysis, and others. The single nucleotide polymorphism chips segment held the largest share in 2022.
Based on distribution channel, the Europe direct-to-consumer genetic testing market is bifurcated into online and offline. The online segment held a larger share in 2022.
Based on country, the Europe direct-to-consumer genetic testing market is segmented Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe direct-to-consumer genetic testing market in 2022.
Ancestry Genomics Inc, Myriad Genetics, Inc., Living DNA Ltd, 23andMe Inc, and Genetic Technologies Ltd are some of the leading companies operating in the Europe direct-to-consumer genetic testing market.
Europe Direct-to-Consumer Genetic Testing Strategic Insights
Strategic insights for the Europe Direct-to-Consumer Genetic Testing provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
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Europe Direct-to-Consumer Genetic Testing Report Scope
Report Attribute
Details
Market size in 2022
US$ 507.98 Million
Market Size by 2030
US$ 2,103.66 Million
Global CAGR (2022 - 2030)
19.4%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Test Type
Ancestry Testing
Predictive Testing
Nutrigenomics Testing
Carrier Testing
By Technology
Whole Genome Sequencing
Single Nucleotide Polymorphism Chips
Targeted Analysis
By Distribution Channel
Online
Offline
Regions and Countries Covered
Europe
UK
Germany
France
Russia
Italy
Rest of Europe
Market leaders and key company profiles
Ancestry Genomics Inc
Myriad Genetics, Inc.
Living DNA Ltd
23andMe Inc
Genetic Technologies Ltd
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Europe Direct-to-Consumer Genetic Testing Regional Insights
The geographic scope of the Europe Direct-to-Consumer Genetic Testing refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Identical Market Reports with other Region/Countries
The List of Companies - Europe Direct-to-Consumer Genetic Testing Market
1. Ancestry Genomics Inc 2. Myriad Genetics, Inc. 3. Living DNA Ltd 4. 23andMe Inc 5. Genetic Technologies Ltd
Frequently Asked Questions
How big is the Europe Direct-to-Consumer Genetic Testing Market?
The Europe Direct-to-Consumer Genetic Testing Market is valued at US$ 507.98 Million in 2022, it is projected to reach US$ 2,103.66 Million by 2030.
What is the CAGR for Europe Direct-to-Consumer Genetic Testing Market by (2022 - 2030)?
As per our report Europe Direct-to-Consumer Genetic Testing Market, the market size is valued at US$ 507.98 Million in 2022, projecting it to reach US$ 2,103.66 Million by 2030. This translates to a CAGR of approximately 19.4% during the forecast period.
What segments are covered in this report?
The Europe Direct-to-Consumer Genetic Testing Market report typically cover these key segments-
Test Type (Ancestry Testing, Predictive Testing, Nutrigenomics Testing, Carrier Testing)
Technology (Whole Genome Sequencing, Single Nucleotide Polymorphism Chips, Targeted Analysis)
Distribution Channel (Online, Offline)
What is the historic period, base year, and forecast period taken for Europe Direct-to-Consumer Genetic Testing Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Direct-to-Consumer Genetic Testing Market report:
Historic Period : 2020-2021
Base Year : 2022
Forecast Period : 2023-2030
Who are the major players in Europe Direct-to-Consumer Genetic Testing Market?
The Europe Direct-to-Consumer Genetic Testing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
Ancestry Genomics Inc
Myriad Genetics, Inc.
Living DNA Ltd
23andMe Inc
Genetic Technologies Ltd
Who should buy this report?
The Europe Direct-to-Consumer Genetic Testing Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Europe Direct-to-Consumer Genetic Testing Market value chain can benefit from the information contained in a comprehensive market report.
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WHAT'S INCLUDED IN FULL REPORT : Market Dynamics,
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Trends, Market Size and Share Analysis, Growth Driving Factors, Future Commercial
Potential, Identify Regional Growth Engines