The DNA testing market is one of the fastest growing markets in the world today. It’s currently valued at $930 million, and by 2024 it’s expected to be worth more than $2 billion.
Contrary to popular belief, DNA testing is not just about finding out more about your heritage. The market has extended into everything from detecting the likelihood of contracting serious health conditions to determining someone’s reproductive health.
The changes the DNA testing market has made is what’s driving this incredible growth.
Harvesting the True Potential of DNA Testing
The DNA testing market once focused almost exclusively on helping people to discover their heritage. They claimed you can find lost family members, find out about your ethnic background, and where in the world your family originated from.
DNA testing groups continue to do this, but these days they can do so much more. Testing for diseases, analyzing reproductive health, and even testing for allergies are all possible.
These areas have taken off, with reproductive health accounting for 33% of the market alone.
Genetic Privacy Concerns
Another way in which the DNA testing market is changing is through alterations to the way in which consumer privacy is maintained.
There are increasing concerns regarding the security and privacy of the DNA held by major companies. Organizations like CRI Genetics are constantly reviewing their privacy policies and providing reassurance that they can keep DNA data safe.
Reliability has Improved Significantly
What consumers fail to realize is that there are no genetic markers that can conclusively say you will have a long nose or red hair. The world of genetics is a probabilistic science, as one prominent scholar says.
That means DNA testing relies on looking at specific markers of the genome sequence. It’s also why different companies may provide you with different results.
Accuracy, therefore, increases when there’s a larger database to compare results to.
The growth of the DNA testing market is increasing the reliability of these tests. Someone who takes the test in 2020 will get more accurate results than someone who took the same test in 2010.
Like in all forms of science, the more studies and the more results available the greater the accuracy and reliability of the following test.
Health is Taking Priority
Personal DNA testing kits is a market that has been largely tapped out. This is the sort of service that doesn’t appeal itself to repeat buyers.
Healthcare and pinpointing health risks is becoming the big market driver within this industry. Many DNA testing companies are also providing major research groups access to their databases so they can develop new cures.
Ordinary people are also becoming more aware of genetic healthcare risks, so therefore the market has started to focus upon this area.
Last Word – DNA Testing is Changing to Focus on Modern Needs
Concerns over privacy and worries over inherited health conditions are taking priority within the DNA testing market of today.
These market trends are forcing brands to think about its target markets and how to reach them through advertising.
Have you used a personal DNA testing kit before?