Consumer Genomics Market Size, Share & Trends Analysis Report By Application (Genetic Relatedness, Ancestry, Diagnostics, Sports Nutrition & Health), By Region (North America, Europe), And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the consumer genomics market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for consumer genomics market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of consumer genomics market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Consumer Genomics Market Categorization:

The consumer genomics market was categorized into two segments, namely application (Genetic Relatedness, Ancestry, Lifestyle, Wellness, & Nutrition, Diagnostics, Sports Nutrition & Health, Reproductive Health, Personalized Medicine & Pharmacogenetic testing), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The consumer genomics market was segmented into application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The consumer genomics market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-four countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia; Switzerland; South Korea; Thailand; Brazil; Mexico; Argentina; Saudi Arabia; South Africa; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Consumer genomics market companies & financials:

The consumer genomics market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Ancestry: Ancestry is a private company involved in providing personal DNA and family history testing services. It provides information found in family trees and genetics for understanding health. Ancestry's brands include Ancestry, AncestryDNA, AncestryHealth, AncestryProGenealogists, Archives.com, Family Tree Maker, Find a Grave, Fold3, Newspapers.com, and Rootsweb. Ancestry.com operates foreign sites that provide access to services and records specific to other countries in their respective local languages. These include Australia, Canada, China, Japan, Brazil, New Zealand, the UK, and several other countries in Europe and Asia (covered by Ancestry Information Operations Company).

• Gene By Gene, Ltd.: The company operates through different subdivisions such as Family Tree DNA, DNA Traits, and DNA DTC, which provide clinical genetic tests and genetic tests for research. Family Tree DNA develops and provides DNA tests for studying genealogy and ancestry. The company has partnerships with National Geographic’s Genographic Project, for the provision of genetic tests. The company is accredited with CAP, Clinical Laboratory Improvement Amendment, and CDPH. The accreditations for relationship testing include AABB and DOH State of New York Department of Health. The company was established as FamilyTree DNA.

• Mapmygenome: The company is a molecular diagnostics company that offers personalized health solutions and genetic tests as preventive care. It integrates genetic health profile & health history with genetic counseling. Its services include sample collection services, data analytics, and genetic counseling services. Its branches are located in Delhi and Hyderabad. It offers products and services in brain wellness, DNA forensics, molecular diagnostics, personal genomics, and TB diagnostics.

• Positive Biosciences Ltd.: It is a start-up genomics company, that is engaged in developing advanced disease management solutions to improve patient outcomes. The company offers personalized health solutions based on genetic information. It integrates customized data algorithms with advanced technology to investigate genetic testing results. Its hospital partners are Medanta, the Medicity, Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute, Breach Candy Hospital, Saifee Hospital, & Kapadia Hospital and Myriad Genetics is an industry partner.

• Futura Genetics: Futura Genetics is a privately held company engaged in developing solutions to serve the fields of lifestyle and healthcare genetic testing. The company performs DNA analysis, PCR & DNA fragmentation, APEX reaction, APEX detection, and data analysis & interpretation in its lab. Its lab is CLIA, ISO 15189, ISO 9001, and DNA Profiling External Quality Assessment certified. The company has the provision of ordering its DNA test online.

• Helix OpCo LLC: It is a privately held American company that focuses on personal genomics and citizen science. Helix sequences & analyzes genetic data and has a secure data storage facility. Helix has partnered with various organizations and operates as a service provider enabling the customers to explore their respective genealogy, health, fitness, nutrition, lifestyle, and inherited traits.

• MyHeritage Ltd.: MyHeritage is one of the leading global companies that deals with discovering, preserving, and sharing family history. The company relies on an online genealogy platform—MyHeritage—and DNA kits that make it easier for customers to create family trees and search their historical records. Services provided by the company are available in 42 languages across North America and Europe, and they have about 92 million users globally. The company offers several applications that help customers obtain deep analysis regarding their family history, immigration, and travel records along with the addition of historical records and preservation of headstone information.

• Pathway Genomics: Pathway Genomics is a privately held company that designs tests for the detection of a wide range of diseases, which include tests for maintaining body weight, skin health, cardiac health, and reproductive health. It also offers tests that predict the risk of developing cancer in the entire lifetime. Recently, the company introduced a wellness program app “Pathway Genomics OME,” which is a personalized genetic testing app designed to provide consumers with personalized wellness information. The company offers these services across more than 40 countries.

• Veritas: The company enables screening of an individual’s DNA to gain insights into carrier status, ancestry, inherited disease risks, drug sensitivities, and traits. It offers consumers genetic testing and interpretation solutions, offers doctors a portal to order, track, and review reports of all patients, and provides researchers with a comprehensive on-the-cloud data ecosystem to accelerate research. It offers its products across more than 100 countries. Its U.S. lab is certified with CLIA and China Lab is certified with CAP.

• Amgen, Inc.: The company was formerly called Applied Molecular Genetics and was later renamed to Amgen. It is a biotechnology company, which develops medicines for various conditions. The company relies on genetic tools to understand diseases for the development of medicines. It is present in nearly 100 countries. It focuses on six therapeutic fields: Cardiology, nephrology, oncology/hematology, bone health, inflammation, and neuroscience. In December 2012, Amgen entered into a definitive agreement to acquire deCODE Genetics.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Consumer Genomics Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Consumer Genomics Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.