Future of Direct-to-Consumer (DTC) Genetic Testing Market Remains Fraught with Challenges, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Direct-to-Consumer (DTC) Genetic Testing markets. Global Direct-to-Consumer (DTC) Genetic Testing market is projected to reach US$233.7 million by 2018. DTC Genetic Testing is an evolving segment in the laboratory testing industry, driven by the increase in aging population, and benefits such as lower costs and privacy and anonymity provided by at-home testing. Advancements in genetic testing reagents and test procedures unravel new opportunities for genetic testing products and services. Despite the prospects, the market is fraught with umpteen challenges.

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Direct-to-Consumer (DTC) Genetic Testing: A Global Strategic Business Report

San Jose, CA (PRWEB) August 08, 2012

Follow us on LinkedIn – Genetic testing (GT) is a significantly lucrative segment in molecular diagnostics, as appropriate diagnosis forms the basis of advanced healthcare. ‘Targeted’ therapeutics and diagnostics leverage knowledge of the genetic makeup of an individual for creating a more personalized healthcare approach. Advancements in genetics, coupled with reduced costs of screening the human DNA, has led to the rapid uptake of genetic test kits for a wide range of ‘lifestyle’ factors and diseases. Few companies have taken genetic testing a notch higher by popularizing the same through social media and advertisements, and today genetic testing kits are being offered directly to the consumer through web-based stores. The Human Genome Project, which was completed a decade back, is one of the major factors responsible for this evolving trend. Increasing knowledge about the probable benefits of genetic testing has been one of the key reasons for individuals to opt for genetic testing. Pharmacogenomics constitute a highly profitable category in the genetic testing market.

The increasing prominence of DTC genetic testing highlights the sea of change that public health and healthcare has undergone in recent times. Some of the major changes cited include increasing number of individuals taking personal responsibility of their health, growing demand for health information among individuals, eroding importance of traditional physician-led treatment and evolution of a global online healthcare industry. Accordingly, many view the growth of DTC GT as part of an increasing trend towards online medicine and personalized health care. However, on the downside, this increasing shift towards online healthcare raises concerns over growing empowerment and control among individuals regarding their health. Inappropriate referrals and misleading claims often result in creating confusion and undue anxiety among individuals and result in added strain on healthcare costs owing to people seeking unnecessary medical interventions. Moreover, in case the privacy of test results is not appropriately maintained, it could result in discrimination and stigmatization.

Issues regarding the use of DTC genetic testing differ as per the business model of the company that is providing the test, the laboratory testing quality, and the motive of the test. There exists varying degree of regulatory restrictions with respect to Direct-to-Consumer Genetic Testing across countries. For instance, DTC genetic testing is banned in South Korea and Germany, while in countries such as the UK and Japan, it is a self regulated industry. The apparent lack of involvement of a medical practitioner in DTC testing process highlights the necessity for regulating the quality of genetic testing. The initial step in reducing risks associated with DTC genetic testing would be in developing scientific standards that communicate the value and quality of particular genetic tests to the customers. Tighter and clear regulatory authority and self-regulation by the industry could address such concerns as well as protect DTC firms from any possible liability.

As stated by the new market research report on Direct-to-Consumer Genetic Testing, the United States represents the largest market. In Europe, the United Kingdom dominates as the largest market for DTC Genetic Testing.

Key players profiled in the report include 23andMe, deCODE genetics, Atlas Sports Genetics, DNA Direct, DNA Plus, Eastern Biotech & Life Sciences, Genelex Corporation, GeneLink Biosciences, Interleukin Genetics, Lumigenix Pty Ltd., MediChecks.com Ltd., and Navigenics, among others.

The research report titled “Direct-to-Consumer (DTC) Genetic Testing: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, product profile, end-use analysis, mergers, acquisitions, and other strategic industry activities. Market estimates and projections are presented for the United States, Canada, Japan, Europe, and Rest of World.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Direct_to_Consumer_DTC_Genetic_Testing_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Email: press(at)StrategyR(dot)com
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