Consumer Genomics
Market: Overview
The global consumer
genomics market is poised to touch new heights, thanks to
increasing consumer awareness.
Consumer genomics included the number of DNA data of
consumers that helps in offering vital information related to ancestry, drugs
response and disease susceptibility.
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report on the consumer genomics market to its vast repository. The report is
expected to offer an in depth analysis of the industry with all important
segments. Along with this, the report will help users with several vital data
that will help indicating growth and latest trend in the consumer genomics market
during the forecast period.
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Consumer Genomics
Market: Notable Developments
Some of the recent development in the consumer
genomics market are-
The players in the consumer genomics market are
focusing of several strategies to gain consumer loyalty and trust. Along with
this, new product launch is the prominent strategy of the player to increase
their market share. For instance, in 2019 Helix a key player offered a test
that looks for two types of cancer and cholesterol. In addition to this,
players in the consumer genomics are experimenting with the news mode of supply
chain to concretize their market hold. For instance, Helix raised a funding of
USD 200 million in order to create their footprints on online marketplace for
genetic test kits.
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Some of the prominent players operating in the
consumer genomics market are Checkpoint Systems, Johnson Controls, Amersec, TAG
Company, ALL-TAG Corporation, Ketec, WG Security Products, Shenzhen Emeno
Technology.
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Consumer Genomics
Market: Key Trends
The global consumer genomics market is poised to
rise at a significant pace in the years to come. This is mainly due to the
rising adoption of genealogy service by the patient owing to substantial
decline in the cost of sequencing. There is several new technology equipment
that has lower down the price sequencing thus reduced the price of overall
genomics. Sequencing is an important and vital procedure in genomics.
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In addition to this, increase in the prevalence of
chronic diseases and rising population burden are some other factors which are
expected to drive the consumer genomics market in the coming few years.
Further, improvement in regulatory reforms
pertaining to DNA is anticipated to propel the market growth. In the year 2018,
FDA removed some regulatory legislation for the marketing of consumer genomic
products. This will help companies to sell their products in market without any
additional review.
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Consumer Genomics
Market: Regional Outlook
On the basis of geography, the consumer genomics
market is segmented into North America, Europe, Asia Pacific, Middle East &
Africa and Latin America. Among all these regions, North America is
expected to hold the largest share of the consumer genomics market in the year
2018 and it is anticipated to maintain its position over the forecast years.
Other region like Asia Pacific is also projected to
witness a fast growth in the during the forecast. It is anticipated that region
surpass North America’s market share by the end of forecast period on account
of several reforms undertaken by government bodies to accelerate genetic
research in Asian countries.
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