About Genetic Ancestry Testing
Genetic ancestry testing is a way for people interested in family history to go beyond what they can learn from relatives or from historical documentation. It gives clues about where a person's ancestors might have come from and about relationships between families.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.0% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Genetic Ancestry Testing market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
MyHeritage (Israel), Laboratory Corporation (United States), Myriad Genetics, Inc. (United States), Ancestry.com LLC (United States), Quest Diagnostics (United States), Gene By Gene (United States), DNA Diagnostics Center, Inc. (United States), Invitae (United States), IntelliGenetics (United States) and Ambry Genetics Corp. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Pathway Genomics (United States) and Centrillion Technology (United States).
Segmentation Overview
AMA Research has segmented the market of Global Genetic Ancestry Testing market by Type (Y Chromosome Testing, Mitochondrial DNA Testing and Single Nucleotide Polymorphism Testing) and Region.
On the basis of geography, the market of Genetic Ancestry Testing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Service, the sub-segment i.e. Online Testing will boost the Genetic Ancestry Testing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in the Field of Medical Science
Market Growth Drivers:
Increasing Public Interest in Direct-to-Consumer (DTC) Genetic Ancestry Testing and High Demand for Numerous Applications of Genetic Ancestry Testing
Challenges:
Dearth of Experienced Professionals in Developing and Underdeveloped Countries
Restraints:
High Cost Associated with Testing
Opportunities:
Growing Adoption of Genetic Testing and Development of Healthcare Infrastructure in Emerging Economies
Market Leaders and their expansionary development strategies
In February 2021, Francisco Partners announced the acquisition of MyHeritage.com, an online genealogy platform that allows people to test their DNA and track family lineage. The acquisition will enable Francisco Partners to expand its services and help MyHeritage to accelerate its growth.
In August 2021, Myriad Genetics launched its first polygenic breast cancer risk assessment test with RiskScore to expand its genetic testing portfolio. RiskScore provides a breast cancer risk assessment for women to improve patient outcomes and minimize healthcare disparities.
Key Target Audience
Genetic Ancestry Testing Providers, Research Professionals, Emerging Companies, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.