Home DNA Test Kit Market Opportunity Forecast 2028 Report Highlights:
In last few decades, the field of genetics has witnessed rapid evolution which has eventually led to the development of genetic tests. In recent times, home genetic testing kits have entered the market which can be done at home without the prescription of healthcare professional. The introduction of home genetic testing kit has empowered people and gave them a feeling of personal control in improving the quality of their lives. It allows the rapid diagnosis of disorders when public or other private healthcare resources are in short supply. Till date, several home genetic testing kits have entered the global market which provides insights on various things including genetic disease risk analysis, personal wellbeing, ancestry, diet, nutrition, parenting, and others.
One of the early players in home genetic testing kit market is 23andMe which has been known for its at-home DNA testing kit that only requires customers to mail in a little tube of saliva in order to gain useful insight into their genetic predispositions. Other private companies that are pushing the innovation edge and warrant watching include companies like Forward, which is a subscription-based service that combines DNA sequencing, AI, full-body scanning, and wearable’s for mobile health monitoring along with instant access to medical care via smartphone app. The other key players in the market include Everlywell, Ancestry, MapmyGenome, EasyDNA, MedGenome, DNAwise, DNA labs, Genes2me, and others.
Further, the arrival of COVID-19 pandemic has also pushed the home test kits market during the past two years. The rising COVID-19 cases globally have encouraged several pharmaceutical companies to develop cost-effective and easily available kit for diagnosis of the virus. In November 2020, Lucira COVID-19 All-In-One Test Kit was the first COVID-19 diagnostic kit for self-testing at home and that provides rapid results. More recently in October 2021, FDA issued EUA for the Acon Laboratories Flowflex COVID-19 home test, which is an over-the-counter antigen test.
Cancer has a major impact on society across the world. It is one of the leading causes of death across the globe and is more prevalent in developed and emerging markets. On the basis of application, cancer diagnostic home genetic testing kits occupy the major share in the market. The rise in geriatric population and subsequent increase in the prevalence of cancer will drive the segment during the forthcoming years. In addition, initiatives by government and other organizations to spread cancer awareness and surge in number of home genetic cancer testing kits in developed countries will also boost the growth of market during forthcoming years.
In last few years, there have been rising collaborations, partnerships, and strategic alliances among pharmaceutical companies in global home genetic testing kit market. For instance, Myriad Genetics announced strategic collaboration with Illumina for Illumina to create a kit based version of the myChoice diagnostic test for international markets. The agreement between the companies combines companion diagnostics and next generation sequencing to advance comprehensive genomic profiling of tumor samples and improved outcomes in oncology. In addition to this, South Korea’s leading mobile carrier SK Telecom has collaborated with Macrogen to develop artificial intelligence backed genome analysis solution. Under this agreement, SK Telecom plans to set up system that analyzes, cumulates, and manages genomic data and medical information owned by Macrogen using artificial intelligence.
As per our report findings, the global home genetic testing kit market is expected to surpass US$ 10 Billion by 2028. The report covers a detailed study of home genetic testing kit market size, growth and share, trends, consumption, segments, application, and forecast till 2028. In addition to this, the report also provides comprehensive analysis on the availability of home genetic testing kit across various geographical regions along with their commercial information.