Consumer genomics is an area within genetics that is related with the sequencing and interpretation of an organism’s genome. It is widely used in applications such as diagnostics, wellness, nutrition, reproductive healthcare, genetic relatedness, and ancestry. If genotypes are known, this helps individuals to know about their ancestry inference, disease risks, and other trait expression. It helps to collect the DNA data, which in response enables to evaluate the susceptibility of drugs, diseases, and information related to ancestor. It widely finds the application in the diagnostic center.
COVID-19 scenario analysis
At the early phase of COVID-19 pandemic, there was no availability of specific diagnostic tests to detect the disease in patients. Alternative diagnostic tests were used initially but were not much effective. This unavailability of specific COVID-19 diagnostic tests presented lucrative opportunities for diagnostic manufacturers to introduce their COVID-19 diagnostic kits. Many leading players as well as some start-ups from various countries utilized this opportunity and introduced COVID-19 diagnostics kits into local as well as global market. These players achieved edge over other diagnostics players capitalizing the opportunity from demand for COVID-19 diagnostic tests, which, in turn, helps them in maintaining their revenues in such a crisis.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Increase in health awareness among the population owing to rise in prevalence of the diseases boosts the need for genomic testing, which acts as a key factor driving the growth of the global market. Customers and physicians are adopting genealogy services to gain knowledge about their ancestors and to locate family members. Increase in demand for personalized genomics, access to direct-to-consumer (DTC) service due to decrease rate of genotyping, rise in consumers’ & physicians’ interest in DTC kits, and increase in investments by companies in consumer genomics have resulted in increased adoption of consumer genomics. Surge in adoption of consumer genomics for COVID-19 research is further anticipated to drive the market.
New product launches to flourish the market
Rise in the adoption of consumer genomics for COVID-19 research is anticipated to drive the market. In April 2020, AncestryDNA announced to use its consumer genomics database (with the patient’s consent) to explore potential genetic cues for COVID-19. In July 2020, the study announced that the IVNS1ABP gene region in males is associated with COVID-19 susceptibility. This explained the harsh effects of the viral disease in males as compared to females.
Key benefits of the report
- This study presents the analytical depiction of the global consumer genomics market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the consumer genomics market research report
- Which are the leading players active in the genomics market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Consumer Genomics Market Report Highlights
By Product and service
By Industry Vertical
Key Market Players
DanaherCorporation, Ancestry, Agilent Technologies, General Electric, F. Hoffmann-La Roche, QIAGEN, Illumina, Inc., Thermo Fisher Scientific, Pacific Biosciences of California, Bio-Rad Laboratories