Single Nucleotide Polymorphism Chips Segment by Technology is estimated to grow at the fastest CAGR in Direct-to-Consumer Genetic Testing Market during 2022–2030

According to our new research study on “Direct-to-Consumer Genetic Testing Market Forecast to 2030 – Geography Analysis – by Test Type, Technology, Distribution Channel, and Geography,” the direct-to-consumer genetic testing market size is valued at US$ 1,715.84 million in 2022; and is expected to reach US$ 7,191.68 million by 2030 and it estimated to grow at a rate of 19.6% from 2022 to 2030. The report highlights trends prevailing in the market, and factors driving and hindering the direct-to-consumer genetic testing market growth.

The direct-to-consumer genetic testing market growth is due to the growing prevalence of genetic diseases and increasing awareness about the benefits of genetic testing are the key driving factors behind the market development. However, the high cost associated with direct-to-consumer genetic testing is hampering the market growth.

By technology, the direct-to-consumer genetic testing market is segmented into whole genome sequencing, single nucleotide polymorphism chips, targeted analysis, and others. The single nucleotide polymorphism chips segment held a larger market share in 2022 and is anticipated to register a higher CAGR during the forecast period. Single nucleotide polymorphism (SNP) chips technology is a set of methods and tools used to identify, analyze, and study SNP variations in a single nucleotide base (A, T, C, or G). SNP technology is crucial in various fields, including genetics, genomics, and medicine. SNP is the most common genetic variation among people. Each SNP signifies a difference in a single DNA building block called a nucleotide. SNP technology has many potential uses in forensic genetic investigations, including the estimation of ethnicity, human traits, or diseases. Over 50% of human disease-causing genetic mutations are single nucleotide polymorphisms (SNPs). Tests for detecting single-point mutations require significant sample processing, infrastructure, expensive reagents, DNA amplification, and advanced optical equipment.

SNP technology has a wide range of applications, including disease association studies. SNP is used to identify genetic variations associated with diseases and conditions, helping understand the genetic basis of diseases such as cancer, diabetes, and heart disease. In June 2023, Illumina Inc. announced the new PrimateAI-3D, an artificial intelligence (AI) algorithm that accurately predicts disease-causing genetic mutations in patients. Hence, the above factors significantly augment the market growth for the segment.

Genesis Healthcare Co, Ancestry Genomics Inc, Color Health Inc, Helix Inc, Myriad Genetics, Inc, Living DNA Ltd, 7andMe Inc, Genetic Technologies Ltd, Gene By Gene Ltd, and Full Genomes Corp Inc. are among the leading companies operating in the  

Companies operating in the direct-to-consumer genetic testing market adopt various inorganic strategies, such as mergers & acquisitions, collaborations, and partnerships.

A few of the significant developments by key market players are listed below.

• In September 2023, 23andMe Holding Co. and Sickle Cell 101 joined forces to expand awareness of people’s sickle cell carrier status. The collaboration will include DNA testing and access to 23andMe’s Health + Ancestry Service for up to 1,000 eligible participants, and 23andMe will be providing monetary support to Sickle Cell 101 to support this effort.
• In June 2023, The American Cancer Society (ACS) and Color Health announced a partnership that will provide convenient, accessible, and comprehensive cancer prevention and screening solutions for the highest-burden cancers including breast, prostate, lung, cervical, and colorectal for more than 150 million Americans who receive health care through either their employer or union.
• August 2022, WellSpan Health and Helix, announced a partnership to create a comprehensive population genomics program to improve patient healthcare outcomes by integrating genetic insights into clinical care and research.

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com