PUBLISHER: GlobalData | PRODUCT CODE: 1706656
PUBLISHER: GlobalData | PRODUCT CODE: 1706656
Genomics refers to the study of an entire set of DNA within an organism. This includes researching their molecular components, structures and functions of genes, and developing technologies that map and edit sequences of DNA. There are many facets to the genomics market, like direct-to-consumer genetic (DTC-GT), prenatal screening, carrier, cancer, human leukocyte antigen (HLA) typing, and rare disease testing.
DTC-GT had been a rapidly expanding market that generated substantial amounts of revenue and public interest. DTC-GT is one format a person can get genetic testing through, the other option is through a healthcare provider. Thus, test types like genetic risk and carrier screening can be seen in both test formats. However, some of these DTC-GT tests can tell you if you have genetic markers for certain cancers or diseases. It has gained public scrutiny over privacy concerns over the service providers' handling of consumers' genomic data. For instance, in 2023, there was a huge security breach of seven million people by 23andMe. Although this market had grown remarkably in earlier years, a slower growth rate in the past couple of years suggests the market has approached saturation, with continued declining future usage.