New Delhi, September 29, 2019: According to a report, the global DNA test kits market was valued at US$ 747.0 Mn in 2018 and is projected expand at a CAGR of 23.4% from 2019 to 2027. Increase in demand for DNA kits for ancestry testing, increasing awareness among people regarding use of DNA test kits for disease risk assessment and rise in popularity of direct-to-consumer testing are anticipated to drive the global DNA test kits market.
Increase in Demand for Ancestry Testing to Drive Market
- Demand for ancestry testing using saliva-based or cheek swab DNA test kits is rising in the developed countries in North America and Europe. There is rapid increase in the number of users of DNA test kits for ancestry and health & fitness. The number of people interested in knowing about their ancestors and family tree has increased is also anticipated to increase the demand for DNA test kits, especially in developed countries across the globe
- Moreover, increase in number of applications of direct-to-consumer genetic testing and rise in demand for DNA testing for health & fitness are the other factors anticipated to drive the DNA test kits market
- During Christmas and Black Friday, companies offer high discounts and offers on DNA testing services and people gift DNA test kits to their relatives. Furthermore, companies offer diet, health & fitness for free or as a part of subscription leading to increase in number of customers using DNA test kits. Therefore, boom in ancestry testing in North America is likely to boost the growth of the DNA test kits market.
- Key players in the global DNA test kits market such as DNAFit and My Inner Go offer a number of DNA testing services to meet the demand for DNA test kits for fitness. These provide tailored fitness and weight management advice to the customers.
- Additionally, strategic approaches such as product launch, marketing efforts, distribution agreements and others are anticipated to propel the global DNA test kits market
- Along with the U.S., the DNA test kits market is booming in countries such as China and Japan. These genetic tests have become popular through social media and other online platforms. This is anticipated to boost the growth of the DNA test kits market.
- Recent acquisitions by companies in China have supported the growth of DNA test kits market in the region. For instance, Prenetics acquired DNAFit in April 2018.
- Moreover, people are concerned about increase in lifestyle diseases such as obesity and diabetes. Rise in awareness about preventive care measures to tackle the burden of diseases has led to an increase in the number of people interested in DNA test kits for diet & nutrition and health & fitness.
- Other factor driving the DNA test kits market in the region is increase in knowledge about processing and analysis of DNA sample by the companies
- Furthermore, a number of startups in China and Japan have launched new products for fitness testing considering an increase in genetic testing for diet and fitness
New Product Launch and Strengthening Distribution Channels: Key Strategies Adopted by Key Players in DNA Test Kits Market
The report also provides profiles of leading players operating in the global DNA test kits market. These include Ancestry, 23andMe, Inc., MyHeritage Ltd., Gene by Gene, Ltd., Living DNA Ltd., National Geographic Partners, LLC, Helix OpCo, LLC, Veritas, FitnessGenes, and EasyDNA.
- The leading companies in the global DNA test kits market are focused on strengthening distribution channel and product portfolio expansion to gain market share. In November 2018, Helix OpCo, LLC launched a new DNA test kits for ancestry and wellness DNA testing with customer access to two embedded apps, Ancestry Basics and Wellness Basic.
- In August 2016, Ancestry entered into a collaboration with Quest Diagnostics to expand consumer DNA test kits portfolio and expand its presence in DNA test kits market
These insights are based on a report on DNA Test Kits Market by Persistence Market Research.
Corporate Comm India(CCI NewsWire)