Global Consumer Genomics Market Projected Around USD 5,230 Million By 2026

26-Mar-2020 | Facts and Factors

Findings from Facts and Factors has authored “Consumer Genomics Market By Application (Diagnostics, Genetic Relatedness, Nutrition, Wellness, & Lifestyle, Reproductive Health, Ancestry, Sports Nutrition & Health, Pharmacogenetic Testing, Personalized Medicine, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2026” States that the global consumer genomics market in 2019 was approximately USD 1,440 Million. The market is expected to grow above a CAGR of 20.2% and is anticipated to reach over USD 5,230 Million by 2026.

Consumer genomics is a stream of genomics that includes the sampling, analysis and description of a person's genome. The consumer genomics sector is evolving steadily and rapidly into a normal view. Market genomics has a large role to play in pushing forward new concepts and their implementations to the majority. The decreasing cost of sequencing has reduced the cost of consumer genomic products and has improved market accessibility along these lines. It is attributable to the reduction in fixed costs and the utilization of internal capital by companies such as Illumina and Veritas, for example, for the delivery of whole-genome sequences at low cost for the presentation of functional hereditary tests.

Browse the full “Consumer Genomics Market By Application (Diagnostics, Genetic Relatedness, Nutrition, Wellness, & Lifestyle, Reproductive Health, Ancestry, Sports Nutrition & Health, Pharmacogenetic Testing, Personalized Medicine, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2026" https://www.fnfresearch.com/consumer-genomics-market-by-application-diagnostics-genetic-relatedness-940

Factors such as lowering the cost of sequencing, increasing accessibility of genomic products to consumers, reduction in prices of personal genomic products, decrease in fixed costs, in-house resource deployment by corporations,lowering the cost of individual genomic products, attempts by major organizations to reduce the cost of whole genomic sequencing will be the main driving force behind the growth of global consumer genomics market. Expanding the use of customer genomics and large-scale policy approaches in urban growth would serve as an open door for industry participants in the consumer genomics industry. In either case, the lack of knowledge, the lack of skilled workers and the lack of awareness in low-wage countries would restrict the growth of the global consumer genomics market.

The global consumer genomics market has been segmented on the basis of application and region. On the basis of application, the consumer genomics market has been segmented into wellness, & lifestyle,  diagnostics, personalized medicine, nutrition, ancestry, pharmacogenetic testing,  reproductive health, genetic relatedness, sports nutrition & health, and others. The genetic relatedness section holds for major market share in 2019.

Geographically market is categorized as Latin America, North America, APAC, Europe, and the MEA regions. North America is estimated to dominate the global market in the near future owing to the increasing adoption of the technically advanced products in the countries of this region. This growth is attributed due to rising awareness among the individuals regarding the use of advanced healthcare gadgets in the region.

Top key players operating in the market are Xcode Life, Toolbox Genomics, Positive Biosciences, Ltd., Pathway Genomics, MyHeritage Ltd., Mapmygenome, Helix OpCo LLC, Gene By Gene, Ltd., Futura Genetics, Diagnomics, Inc., Color Genomics, Ancestry, and 23andMe, Inc. Key operating players of the consumer genomics market are focusing on the development of more advanced, reliable, and cost-effective products in order to contribute to the revenue growth of the global market.

Report Scope

This report segments the consumer genomics market as follows:

Global Consumer Genomics Market: By Application Segmentation Analysis

• Diagnostics
• Genetic Relatedness
• Nutrition, Wellness, & Lifestyle
• Reproductive Health
• Ancestry
• Sports Nutrition & Health
• Pharmacogenetic Testing
• Personalized Medicine
• Others

 Global Consumer Genomics Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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