Increasing awareness about utilization of genetic tests and integration of predictive genetic testing with advanced technology are factors expected to drive market growth.

Market Size – USD 4.5 billion in 2020 Market Growth – 14% Market Trends – Increasing demand for predictive healthcare

 

-The global predictive genetic testing & consumer/wellness genomics market size is expected to reach USD 12.8 billion by 2028, registering a CAGR of 14% over the forecast period, according to the latest report by Reports and Data. Major factor driving market revenue growth is increasing awareness about utilization of genetic tests globally. Moreover, increasing growth of pharmaceutical companies involved in research of genomics will further enhance market growth.

 

Predictive genetic testing is used to predict potential disease risk in asymptomatic people. Genetic research entails examining one's DNA, which may show mutations or modifications in the genes of living organisms.

 

Growing understanding about benefits of predictive genetic testing and introduction of Next-generation Platform Sequencing (NGS) would propel the market growth going ahead.

 

Predictive genetics research and consumer/wellness genomics are in high demand as a result of rising healthy lifestyle patterns and increasing health-care awareness initiatives. Genetic testing can help predict potential disease risk and provide knowledge and data about a child's genetic makeup. Furthermore, these tests are useful in people with a history of genetic disorders. For example, a global research study conducted by the Mayo Clinic in the U.S. found that one out of every ten people who choose predictive genetic testing discovered that they had an inherited risk for a health condition and might benefit from preventive treatment.

 

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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.

 

Key companies operating in the market and profiled in the report include:

Myriad Genetics, Inc., Color Genomics Inc., Helix, 23andMe, Inc, Illumina, Inc, Gene by Gene, ARUP Laboratories, Laboratory Corporation of America, Pathway Genomics, Genesis Genetics, BGI, Quest Diagnostics, Thermo Fisher, and WeGene.

 

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The Predictive Genetic Testing & Consumer/Wellness Genomics market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.

 

Segments Covered in the report

Type Outlook (Revenue, USD Billion; 2018 – 2028)

  • Predictive Testing
  • Consumer Genomics
  • Wellness Genomics

Application Outlook (Revenue, USD Billion; 2018 – 2028)

  • Predictive Genetic Testing & Consumer Genomics
    • Diabetic Screening & Monitoring
    • Colon Cancer
    • Breast & Ovarian Cancer
    • Urologic screening/ Prostate cancer screening
    • Cardiovascular screening
    • Parkinsonism / Alzheimer's Disease
    • Orthopedic & Musculoskeletal
    • Other cancer screening
    • Other diseases
  • Wellness Genomics
    • Skin & Metabolism Genetics
    • Nutria Genetics
    • Others

Setting Type Outlook (Revenue, USD Billion; 2018 – 2028)

  • Clinic
  • Direct to Consumer
  • Hospital

 

Key Regions Analyzed in the Report include:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • Italy
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Rest of MEA

 

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Furthermore, it consists information about individual segment of the Predictive Genetic Testing & Consumer/Wellness Genomics market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.

 

Key Benefits of the Report:

  • Comprehensive overview of the changing dynamics of competitive landscape
  • Detail oriented futuristic prospects of factors driving and restraining growth of the market
  • Valuable insights on key market growth driving trends and monetary competence in the forecast period
  • Strategic recommendations to key players and new entrants to overcome barriers and challenges in the market
  • Revenue forecasts for the period of 2028

 

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