The global Consumer Genomics market is forecast to reach USD 6.58 Billion by 2027, according to a new report by Reports and Data. The growing demand for in-depth knowledge of consumer’s ancestry and a reduction in the price of genetic procedures are boosting the growth of the market.
The market is witnessing an increased demand owing to the massive change in technology. The development of innovative machines and increased spending on research is further propelling the demand. The government is taking initiatives to encourage the growth of the market. The growing trend of personalized medicine is also another trend impacting market demand. However, the high cost of the genomic instruments and regulatory guidelines are hampering the growth of the market.
Advancement in genomics will continue to give rise to the economic, environmental, and ethical, legal, and social implications, all of which will garner attention from the public and the policymakers. Several healthcare and research companies are working towards the integration of genomic data, while major clinical centers like Stanford Health Care and many cancer research centers are using genomic data to personalize treatments for treating life-threatening diseases such as cancer.
The latest report extensively assesses this particular business sphere and, simultaneously, elaborates on production and consumption aspects of the market. In the later sections of the report, numerous factors, including market drivers, opportunities, restraints, and challenges, have been discussed at length. The authors have meticulously performed the SWOT analysis and Porter’s Five Forces analysis to help the reader clearly interpret the competitive hierarchy of the global Consumer Genomics market as well as distinguish the top market contenders from the others.
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Top Companies Profiled in this Report are:
23andMe, Inc., Ancestry, Mapmygenome, Gene By Gene, Ltd. (FamilyTree DNA), Color Genomics, Inc., Futura Genetics, Positive Biosciences, Ltd., Helix OpCo LLC, Pathway Genomics, and MyHeritage Ltd, among others.
COVID-19 Impact Assessment
The Consumer Genomics market report is the first document to cover the current scenario of the global Consumer Genomics market that is brawling with the adverse economic effects of the ongoing COVID-19 pandemic. Besides affecting countless lives across the world, the pandemic has wreaked major disruptions to this otherwise lucrative business sector. The latest report thoroughly studies the current situation of the market and the unfavorable impact of the pandemic on its crucial segments and sub-segments.
This section underscores the leading players in this business space, the current market state, disrupted supply chains, and the key sales and distribution channels in the context of the COVID-19 pandemic. Additionally, the global Consumer Genomics market study discovers a wide array of business-centric strategies adopted by leading market players to gain robust traction in the post-COVID market situation.
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Overview of the Consumer Genomics report:
The latest market study broadly segments the industry based on the product type range, application gamut, end-use industry, key regions, and the competitive background. One of the central components of the report is a detailed explanation of the gross profits, revenue shares, sales volume, manufacturing costs, individual growth rate, and the financial standing of the leading market players. The developmental scope of the Consumer Genomics market’s new entrants and established companies has also been emphasized in the report.
For the purpose of this report, Reports and Data have segmented into the global Consumer Genomics market on the basis of the product and services, technology, application, and region:
Product and Services Outlook (Revenue, USD Billion; 2017-2027)
- System and Software
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Nucleic Acid Extraction and Purification
Application Outlook (Revenue, USD Billion; 2017-2027)
- Genetic Relatedness
- Lifestyle, Wellness, & Nutrition
- Reproductive Health
- Sports Nutrition & Health
- Personalized Medicine & Pharmacogenetic Testing
In market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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- The study analyzes various manufacturing processes of the product.
- It further examines the consumption volume and patterns of the product types.
- The report provides actionable insights into the production capacity, estimated growth, and regional market revenues amassed over the forecast period.
- The report encompasses vital information on market dynamics, such as product pricing patterns, the total revenue generated, and anticipated growth rate.
- The report highlights the competitive spectrum of the global Consumer Genomics market, focusing on the company profiles of top market rivals.
- The report emphasizes the product portfolios as well as respective specifications and applications of these products of each market player.
- Furthermore, production capacities, gross margins, manufacturing costs, pricing models, and revenue shares of these market players have also been discussed.
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