Global Direct-to-Consumer Genetic Testing Market Worth Usd 340 Mn by 2022: Credence Research

According to the latest report published by Credence Research, Inc. “Direct-to-Consumer Genetic Testing: Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the direct-to-consumer genetic testing market was valued at USD 70.2 Mn in 2015, and is expected to reach USD 340 Mn by 2022, expanding at a CAGR of 25.1% from 2016 to 2022.

Browse the full report Direct-to-Consumer Genetic Testing: Market Growth, Future Prospects and Competitive Analysis, 2016-2022 report at http://www.credenceresearch.com/report/direct-to-consumer-genetic-testing-market

Market Insights

Conventionally, genetic tests have been made available only through healthcare providers at recommendations from physicians . Direct-to-consumer (DTC) genetic testing is defined as genetic teats marketed directly to individuals through agencies such as internet, pharmacies and others. DTC genetic testing market is predominantly driven by growing awareness in public about genetic diseases, growing tendency to take proactive role in personal healthcare and the ongoing trend of understanding ancestral origins.

Since 2010, the prices of genome testing solutions have observed a sharp decline in prices and the market is mostly concentrated in the hands of a few market players. The utilization of genomic data is yet not perfected, however increasing researches and growing availability of these solutions will pave way for further improvements in the business dynamics. On the other hand, notable risks such as vulnerability to misleading outcomes from unproven or invalid diagnosis, taking improper precautions or health decisions sans involvement of physician assistance and the associated repercussions may hold back the pace of this market. Another challenge to the market growth is potential risk of invasion of genetic privacy through unauthorized use of consumer data.

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