Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth

07/gen/2021 06:47:10 Automotive Market Research Reports Contatta l'autore

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Direct-to-consumer genetic testing is beneficial for people residing in remote areas as it provides people access to their genetic information at ease without visiting the hospital or getting involved with a healthcare provider or health insurance company in the process. Some consumers of DTC genetic testing view it as an opportunity to gather essential medical information about themselves. The DTC genetic testing is of three types mainly; Ancestry tests, which can be used to investigate an individual’s deep ancestry; Paternity tests, which have been used to establish definitive parental rights and health information and Disease Risk test, which is used in disease risk assessments of diseases like cancer, obesity, Alzheimer’s disease, and heart attacks.

The rising incidences of genetic diseases such as cancer across the world along with escalating patient count in developed economic regions like North America and Europe demanding for personalization of genetic testing service will surge the demand for DTC genetic testing. Various genetic predisposition to several genetic diseases can be detected in earlier stages with the use of DTC genetic tests. Growing acceptance of DTC genetic testing due to its capabilities of early disease diagnosis and recognition of genetic mutation preceding its manifestation will further propel the DTC genetic testing market. In addition, the fears of genetic discrimination push the DTC testing, as a significant alternative to undergoing testing, because it allows individuals to keep their test results out of their medical records. In the U.S., implementation of the Genetic Information Nondiscrimination Act (GINA) in May 2008 is expected to reduce consumer fears in this area.

Companies covered:

  • Easy DNA
  • Ancestry
  • Color Genomics
  • Full Genome Corporation
  • Helix OpCo LLC
  • Identigene
  • Karmagenes
  • FamilytreeDNA
  • Mapmygenome
  • Pathway genomics
  • Genesis Healthcare

COVID – 19 scenario analysis:  

  • The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
  • Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
  • Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
  • Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers

Recent technological advancements owing to R&D activities have enabled researchers and healthcare professionals to decode the information in human genetic material and derive valuable insights to aid in the treatment of various diseases. This has led to development of wide verity of direct-to-consumer genetic tests resulting into opportunities for expansion of the market.

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