Consumer Genomics Market Size

Consumer Genomics Market Analysis

The consumer genomics market is expected to register a CAGR of 20% during the forecast period.

The market peaked during the COVID-19 pandemic. Consumer genomics was a valuable tool in the characterization and identification of the SARS-CoV-2 virus. It had the potential to determine the genetic sequence of a virus and help scientists understand the mutations. Throughout the pandemic, government authorities worldwide constantly worked with the private sector to bring consumer genomics as a diagnostic tool into the market.

As per the report published by Oxford University Press in March 2021, the COVID-19 pandemic sparked the development and adaptation of several informatics techniques in addition to bioinformatics research. Next-generation sequencing was the central technology for detecting genomes of SARS-CoV-2 that provided the primary data about the virus. These included computational methods for tracing and tracking infected individuals, collaborative data infrastructures for COVID-19 research, sentiment analysis techniques for evaluating the effectiveness of lockdown measures, artificial intelligence techniques, and robotics applications to support remote patient assistance.

Furthermore, post-pandemic, people have become more health-conscious, potentially leading them to use new and advanced techniques, such as consumer genomics. Hence, owing to the increasing DNA-based research and development activities and bioinformatics in developing diagnostic tools or effective therapeutics for COVID-19, the market is likely to continue its significant growth rate during the forecast period.

The major factors fueling the market growth are the rise in interest of consumers and physicians in DTC kits, advancements in technology, increasing applications of consumer genomics, favorable government policies, and the growing trend of personalized genomics. For instance, according to an article published by ScienceDirect, in 2022, direct-to-consumer (DTC) tests gained popularity. This was because consumers could purchase them directly without any test orders from healthcare professionals. Therefore, DTC tests allowed patients to be actively engaged in their health management.

The DTC industry has been booming due to the increasing awareness and desire for rapid and accessible testing by the public. Such increased demand for DTC tests is expected to drive market growth. In September 2021, MedGenome Labs launched a direct-to-consumer category under the brand name Genessense. Under the new category, MedGenome offered genetic screening tests that can be ordered online through the Genessense website or e-commerce platforms. These advantages and initiatives for DTC tests on consumer genomics are expected to drive the market's growth over the forecast period.

The increasing product innovation and collaboration by key players will also support market growth over the forecast period. In July 2022, 1health.io Inc. expanded its testing in both the clinical and direct-to-consumer markets rapidly and securely. It also partnered with Apollo Health Group to bring Apollo's specialized high-performing NGS tests, such as hereditary cancer genetic screenings (CGx) and pharmacogenetics screenings (PGx), to the broader clinical market. Such expansions are also aiding the market growth.

Thus, the abovementioned factors are positively impacting the market growth. However, stringent regulatory challenges and misleading results will create challenges in adopting home-based genetic tests. This is expected to hinder market growth over the forecast period.