May 22, 2024
global DNA test kits

The DNA Test Kits Market is Trending towards Personalized Medicine

The DNA test kits market involves direct-to-consumer genetic testing products that allow individuals to collect DNA samples themselves and send them to a lab for analysis. DNA test kits provide personalized health, ancestry and genealogy reports to customers by analyzing specific locations in the human genome. These kits help determine genetic relationships between individuals and ethnic or geographic origins alongside health insights.

The global DNA test kits market is estimated to be valued at US$ 5.40 billion in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the DNA test kits market are Devyser, Illumina, Inc., Living DNA Ltd, MyHeritage Ltd., Gene by Gene, Ltd., Ancestry, EasyDNA, Fitness Genes, Living DNA Ltd., Helix OpCo LLC, Veritas, Genesis Healthcare Co., Mapmygenome, and Pathway Genomics. These players are focusing on launching advanced DNA test kits with expanded health and ancestry results. For instance, in 2023 AncestryDNA launched a new ethnicity update that provides over 1,500 new regional ethnicity estimates.

The growing demand for personalized healthcare and medicine is expected to drive the Global DNA Test Kits Market Share during the forecast period. Customers are increasingly using DNA test kits to understand their individual disease risks and make lifestyle changes. Additionally, growing curiosity about family history and ancestry among millennials and younger generations is fueling the demand for direct-to-consumer DNA kits.

The DNA test kit manufacturers are also expanding their operations globally to tap the demand from international markets. For example, in 2022 23andMe received approval to sell its Health + Ancestry Service DNA test kit in several European markets and plans further expansion. The increasing accessibility of DNA test kits worldwide will support the growth of this market.

Market key trends
The integration of DNA test results with medical records and health management tools is a key trend in this market. Companies are working on making ancestry and trait reports from DNA tests more actionable for preventive healthcare. Additionally, the reduction in DNA sequencing costs is allowing test kit manufacturers to offer advanced DNA analysis with bigger health panels and higher accuracy at affordable prices. This rising precision is improving customer experience and the use of DNA data for assisting lifestyle changes, disease management and personalized medicines.

Porter’s Analysis
Threat of new entrants: The capital requirement and expertise needed to operate in the DNA test kits industry is moderately high limiting new entrants.

Bargaining power of buyers: Individual consumers have moderate bargaining power as there are few players, but rising competition may increase options.

Bargaining power of suppliers: Suppliers of DNA sequencing machines and technologies have significant bargaining power as the industry is dependent on their innovations.

Threat of new substitutes: Potential alternatives using non-DNA based approaches could emerge but current products are DNA-based with limited substitutes.

Competitive rivalry: The industry has few major players controlling most of the market share currently with room for others to grow and compete based on new features and customization.

Geographical Regions
North America currently holds the largest share of the DNA test kits market in terms of value due to early adoption of direct-to-consumer genetic testing and well established 23andMe, Ancestry and other major brands. The high disposable income and awareness among consumers have contributed to North America being the most concentrated region.

The Asia Pacific region is emerging as the fastest growing market for DNA test kits due to growing interest in genealogy among younger population and increasing availability of affordable kits. Rising disposable incomes and massive population in countries like India and China are expected to drive the market growth in Asia Pacific at a higher pace over the forecast period.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it