Genealogy Products and Services Market Segmentation, Opportunities, Trends 2024

Posted by Preet on September 24th, 2019

The genealogy products and services market remains significantly fragmented, with numerous companies launching different services and websites specific to regions. Leading players operating in the genealogy products & services market continue to bolster their online presence while launching new and innovative services to draw in more consumers.

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Preventive healthcare is gradually gaining center stage with consumers becoming increasingly aware of the benefits of the practice. Genetic testing plays a vital role in preventive healthcare as it provides a potential technique for diagnosis of rare diseases. It is showing promising prospects for precisely predicting the risk of developing a particular disease by studying the complex genetic markup of the population.

Numerous researchers claiming the efficacy of genetic testing are promoting its adoption. The procedure can potentially enable doctors to suggest measures to prevent the development of a certain health condition. Investments by governments are further fueling the growth of the genealogy products & services market. For instance, the National Health Service in England recently announced its plan to expand genetic testing capabilities to improve the quality of health services in the country.

Development of pharmacogenomics is another factor imperative to genealogy products & services market growth. Pharmacogenomics is the study of genetics to predict the impact of medication on the human body. Genetic testing is already being leveraged for prescribing personalized medications in the treatment of panic disorder, anxiety, schizophrenia, bipolar disorder, and post-traumatic disorder.

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Genealogy products & services providers are foraying into an assortment of different verticals to extend their consumer base. Use of genealogy and genetic testing for offering personalized services in a multitude of markets is gradually gaining traction. Companies such as EpigenCare and SkinGenie are leveraging genetic testing to provide skin care products that particularly complement the genetic makeup of a person’s skin. On the other hand, Pheramor, a company based in Houston, is using genetic testing for finding people their compatible partners. Another example of the widening scope of genealogy products & services is Vinome, a company which provides a thorough report of the different wines a person may have an affinity for after studying their genetic makeup.

Aggressive marketing techniques, coupled with growing consumer inquisitiveness about such implications of genealogy, is aiding these applications in gaining popularity which, in turn, is expected to bolster genealogy products & services market growth.

Preet

About the Author

Preet
Joined: July 11th, 2019
Articles Posted: 812

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