SNS Insider Black Friday Offer
Predictive Genetic Testing & Consumer/Wellness Genomics Market

Predictive Genetic Testing & Consumer/Wellness Genomics Market Size, Share & Segment, By Test Type (Predictive Testing, Consumer Genomics, Wellness Genomics), By Application (Breast & Ovarian Cancer, Cardiovascular Screening, Diabetic Screening & Monitoring, Colon Cancer, Parkinsonism/Alzheimer’s Disease, Urologic Screening/Prostate Cancer Screening, Orthopedic & Musculoskeletal), By Setting Type (Proteomic Testing, Metabolic Testing, Genomic Testing), by Regions and Global Forecast 2022-2028

Report Id: SNS/HC/2445 | July 2022 | Region: Global | 127 Pages

Predictive Genetic Testing & Consumer/Wellness Genomics Market Overview:

The Predictive Genetic Testing & Consumer/Wellness Genomics Market Size was valued at USD 5.03 billion in 2021, and is expected to reach USD 12.60 billion by 2028, and grow at a CAGR of 14% over the forecast period 2022-2028.

A method for forecasting disease risk in asymptomatic patients is predictive genetic testing. This technique entails checking one's Deoxyribonucleic Acid (DNA) for changes to the genes of living things. It delivers accurate sequencing findings from a next-generation platform. It assists in studying genetic disorders in the search for a treatment. Growing consumer awareness of genetic disorders, the availability of genetic test kits directly to consumers (DTC), increased R&D spending, and the trend toward a healthier lifestyle are all important factors propelling the market growth.

Predictive Genetic Testing & Consumer/Wellness Genomics Market

MARKET DYNAMICS

DRIVERS

  • Uses of consumer/wellness genomics and predictive genetic testing

  • Increasing R&D efforts for new treatments

  • Growing tendencies of healthy lifestyle

RESTRAINTS

  • Insufficient resources and a shortage of qualified professionals

  • The method of genetic testing is complicated.

OPPORTUNITIES

  • Increase in applications for personalized medicine.

  • Emerging markets for consumer/wellness genomics and predictive genetic testing

CHALLENGES

  • Instruments for genetic research are expensive.

IMPACT OF COVID-19

The COVID-19 pandemic has expanded drug development and research activity, which is straining the healthcare sector further. Although the pandemic initially had a negative effect on workforces and supply chains, the increasing desire for novel therapies has had a positive effect on market demand overall.

The pandemic has a regional and worldwide impact on predictive genetic testing. Rising cancer incidence, enhanced benefits of Next Generation Sequencing (NGS) in cancer research, participation of new companies with creative ideas, annual growth in the number of start-ups in the genomics industry, and a wide range of applications are all predicted to propel the market. Examples include various single-gene disorders, cancer, and cardiovascular conditions. The consumer/wellness genomics market and predictive genetic testing have benefited from COVID-19 as a result.

VALUE CHAIN ANALYSIS

Over the course of the forecast period, the global predictive genetic testing & consumer/wellness genomics market is anticipated to increase significantly. This can be attributable to elements like the different testing applications and rising R&D expenditures. The value chain analysis for the market consists of five main parts, starting with research and product development, moving on to product manufacturing, distribution, and sales, and concluding with post-marketing surveillance.

By Test Type

In clinical settings and translational research, predictive testing is generally favoured for estimating the risk of diseases like cancer and neurological illnesses. It was able to hold the largest share because of this. The "predict and prevent" paradigm is likely to increase public awareness of early screening initiatives.

The use of tests for cancer susceptibility screening and suitable prognosis was supported by ongoing R&D activities in genetic susceptibility testing by identifying the best treatment plan. The usage of susceptibility testing has accelerated due to the availability of multigene panels for the identification of various gene mutations or variants, which has increased revenue generating. As a result of the growing commercialization of direct-to-consumer genetic tests, consumer genomics is predicted to have profitable growth during the projected period. Users using DTC tests can learn more about their ancestors, family tree, and risk of inheriting diseases.

By Application

Predictive genetic testing and consumer genomics market share is dominated by tests that forecast the likelihood of developing breast and ovarian cancer. These tests also generate the highest levels of market revenue. Globally rising rates of breast and ovarian cancer, together with widespread use of gene susceptibility testing, are contributing factors to the growth of this market. According to the nonprofit group Breastcancer.org, 5–10% of breast and ovarian cancer cases in the United States are hereditary and are caused by mutations in the BRCA1 and BRCA2 genes.

Due to the availability of products that cover testing for various disease categories, the market for illness indications is predicted to exhibit similar growth patterns. This area is heavily influenced by predictive and pre-dispositional genetic testing, which helps orthopedic surgeons and doctors identify disease risks before symptoms appear.

By Setting Type

The market for proteomics is anticipated to create the most revenue. Predictive genomic testing and the consumer/wellness genomics industries are expanding as a result of increased R&D spending, high prevalence, increased government funding, personalized medical research, and pharmaceutical discoveries. The market is anticipated to grow in response to applications for clinical diagnostics related to cardiovascular diseases, cancer, infectious diseases, diabetes, neurological disorders, and immunological diseases.

The increased prevalence of lifestyle disorders, which feeds the expansion of the industry, is causing the metabolic testing market to expand at a healthy CAGR. Predictive genomic testing and the consumer/wellness genomics market are expanding as a result of a number of important causes, such as the development of technology, rising healthcare spending, the expansion of the R&D sector, government efforts, and a rise in the standard of living.

For the purpose of identifying inherited disorders in living things, genomic testing kits or panels are marketed. Samples are first collected, and they are then transported to a lab for analysis as part of the detection process. It is anticipated to rise dramatically during the forecasted timeframe. Additional test kits used in testing include those for prenatal and neonatal examinations, diagnostic examinations, examinations for genetic diseases, pharmacogenomic examinations, and examinations for predictive and presymptomatic conditions. The three main growth factors that will push the market to its maximum are growing personalized medical research, rising awareness, and rising genetic condition prevalence.

COMPETITIVE LANDSCAPE

Some of the major key players are as follows: Abbott Laboratories, Bio-Rad Laboratories Inc., Counsyl, Inc., Agilent Technologies, Bureau Gravimétrique International, Genesis Genetics, ARUP Laboratories, Hoffmann-La Roche Ltd., Illumina, Inc., Myriad Genetics, Inc., Thermo Fisher Scientific, Inc.

MARKET SEGMENTS:

By Test Type

  • Predictive Testing

  • Consumer Genomics

  • Wellness Genomics

By Application

  • Breast & Ovarian Cancer

  • Cardiovascular Screening

  • Diabetic Screening & Monitoring

  • Colon Cancer

  • Parkinsonism/Alzheimer’s Disease

  • Urologic Screening/Prostate Cancer Screening

  • Orthopedic & Musculoskeletal

By Setting Type

  • Proteomic Testing

  • Metabolic Testing

  • Genomic Testing

Predictive Genetic Testing & Consumer/Wellness Genomics Market

REGIONAL ANALYSIS

Due to the existence of multiple companies based in the United States, North America dominated the industry in terms of revenue. These companies have a number of patents in the fields of wellness genomics and predictive testing. For the purpose of maintaining their respective market shares and boosting regional revenue production, participants operating herein are implementing a number of growth efforts.

Asia Pacific is predicted to have the highest CAGR since patients there have been benefiting from rising disposable income and healthcare spending. Along with demand expansion, this region's supply potential is anticipated to rise significantly over the next few years. By offering services through distribution partners, prominent participants are gaining access to economies in underdeveloped countries.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 

Predictive Genetic Testing & Consumer/Wellness Genomics Market Report Scope
Report Attributes Details
Market Size in 2021 US$ 5.03 Billion
Market Size by 2028 US$ 12.60 Billion
CAGR CAGR of 14% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Test Type (Predictive Testing, Consumer Genomics, Wellness Genomics)
• By Application (Breast & Ovarian Cancer, Cardiovascular Screening, Diabetic Screening & Monitoring, Colon Cancer, Parkinsonism/Alzheimer’s Disease, Urologic Screening/Prostate Cancer Screening, Orthopedic & Musculoskeletal)
• By Setting Type (Proteomic Testing, Metabolic Testing, Genomic Testing)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Abbott Laboratories, Bio-Rad Laboratories Inc., Counsyl, Inc., Agilent Technologies, Bureau Gravimétrique International, Genesis Genetics, ARUP Laboratories
Key Drivers • Increasing R&D efforts for new treatments
• Growing tendencies of healthy lifestyle
RESTRAINTS • Insufficient resources and a shortage of qualified professionals
• The method of genetic testing is complicated


Frequently Asked Questions (FAQ) :


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine ware

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

  

8. Predictive Genetic Testing & Consumer/Wellness Genomics Market Segmentation, By Test Type

8.1 Predictive Testing

8.2 Consumer Genomics

8.3 Wellness Genomics

 

9. Predictive Genetic Testing & Consumer/Wellness Genomics Market Segmentation, By Application

9.1Breast & Ovarian Cancer

9.2 Cardiovascular Screening

9.3 Diabetic Screening & Monitoring

9.4 Colon Cancer

9.5 Parkinsonism/Alzheimer’s Disease

9.6 Urologic Screening/Prostate Cancer Screening

9.7 Orthopedic & Musculoskeletal

 

10. Predictive Genetic Testing & Consumer/Wellness Genomics Market Segmentation, By Setting Type

10.1 Proteomic Testing

10.2 Metabolic Testing

10.3 Genomic Testing

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

 

 

12.Company Profiles

12.1 Abbott Laboratories

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Bio-Rad Laboratories Inc.

12.3 Counsyl, Inc.

12.4 Agilent Technologies

12.5 Bureau Gravimétrique International

12.6 Genesis Genetics

12.7 ARUP Laboratories

12.8 Hoffmann-La Roche Ltd.

12.9 Illumina, Inc.

12.10 Myriad Genetics, Inc.

 

13.Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14.Conclusion

 

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.