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22-Apr-2021

CAGR of 14.5% | DNA Testing Market Boost Factor Increased the Adoption of Personalized DNA Level Diagnostic Applications

Summary

The global DNA Testing market is projected to be US$ 1,032.1 Mn in 2020 to reach US$ 3,899.0 Mn by 2030 at a CAGR of 14.5%. The first five-year cumulative revenue (2021–2025) is projected to be over US$ 1,922.0 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Editor: Krutika Bhoot Last Updated: 22-Apr-2021

Global DNA Testing Market: Market Overview

DNA testing establishes the absence or presence of a particular sequence of deoxyribonucleic acid by molecular testing methodology. It is present in the genetic or hereditary material present in every cell in the human body. It could also be applied to establish relationships among individuals through a comparison of their respective DNA material.

The global DNA Testing market is projected to be US$ 1,032.1 Mn in 2020 to reach US$ 3,899.0 Mn by 2030 at a CAGR of 14.5%. The first five-year cumulative revenue (2021–2025) is projected to be over US$ 1,922.0 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.

Global DNA Testing Market: Market Dynamics

Various chronic and infectious diseases such as cervical cancer, hepatitis B, HIV, and others depend on DNA prototyping for treatment, which has increased the adoption of personalized DNA level diagnostic applications. This is a significant factor expected to fuel the target market’s growth over the next 10 years.

Manufacturing of DNA is a complicated, costly, and time-consuming process. The pre-clinical and clinical stage products may not get approved, leading to an immense loss of investment, efforts, and time. This factor is expected to hamper the growth of the global DNA testing market to a certain extent.

Increasing focus on research and development activities, government support for setting cost-effective facilities in order to expand customer base can provide a beneficial opportunity to manufacturers of DNA Testing.

Global DNA Testing Market: Market Forecast

The comprehensive research report comprises a complete forecast of the global DNA Testing market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global DNA Testing market is estimated to expand at a moderate CAGR of 14.1% during the forecast period.

Global DNA Testing Market: Segmental Snapshot

The market report has been segmented based on testing technology, product type, end-users, and region. The testing technology segment includes Microarrays Based, PCR Based, In-Situ Hybridization, & NGS. The product type segment includes DTC Genetic Tests, Traditional Genetic Tests. The end-user segment comprises Ancestry Testing, Diet & Nutrition, Health & Fitness, Disease Risk Assessment, & Other End-Users. The region covered in the analysis is North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

By testing technology: The PCR-based segment is expected to register a CAGR of over 39.1% over the forecast period, thereby accounting for the highest revenue share among the application segments.

By product type: The DTC genetics test segment is expected to register a CAGR of over 68.8%, thereby accounting for the highest revenue share among the type segments.

By end-user: The ancestry testing segment is expected to register a CAGR of over 41.9% over the forecast period, thereby accounting for the highest revenue share among the application segments.

By region: North America’s market accounted for the highest revenue share in the global DNA Testing market in 2018 and is estimated to register a CAGR of over 49.0% between 2019 and 2028.

Global DNA Testing Market: Competitive Analysis

The research report on the global DNA Testing market includes profiles of prominent companies such as Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Ancestry.com LLC, DC Thomson, 23andme, MyHeritage Ltd., DNA Diagnostics Center, Inc., Living DNA Ltd., RSC Health, and Atlas Biomed.

Browse More Detailed Insights Of DNA Testing Market Research Report Here: https://marketresearch.biz/report/dna-testing-market/