Genealogy Products and Services Market to Witness Steady Expansion During 2018 to 2024 – Bulletin Line

DNA

Study on the Global Genealogy Products and Services Market

The market study on the Genealogy Products and Services market published by Fact.MR highlights the essential parameters that are expected to shape the growth of the Genealogy Products and Services market in the upcoming years. The report maps the trajectory of the Genealogy Products and Services market by taking into account historical data for the period between 20XX-20XX and considering 20XX-20XX as the forecast period.

The presented study evaluates the different factors that are likely to influence the dynamics of the Genealogy Products and Services market including the current trends and recent developments on the technological front. In addition, the micro and macro-economic factors that are likely to impact the growth of the Genealogy Products and Services market during the assessment period are assessed in detail.

Request Sample Report @ https://www.factmr.co/connectus/sample?flag=S&rep_id=3083

Segmentation of the Genealogy Products and Services Market

The analysts have segmented the Genealogy Products and Services market into various sections to offer a microscopic understanding of the market. The different segments studied in the report include:

competitive landscape, get in touch with our experts

Demand for Genetic Testing to Surge as Preventive Healthcare and Pharmacogenomics Gain Traction

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.

For detailed analysis on all the key market factors, request a sample

Genealogy Service Providers Widening the Scope of Application

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.

Technological Innovations Complementing Market Growth

Genealogy products & services market is estimated to benefit from headways in technology. Genealogy products & services companies are harnessing data analytics, machine learning, big data, and artificial intelligence for effectively storing and analyzing a large amount of data. Genealogy products and services companies are increasingly using online platforms for marketing their services and increaing penetration into the market.

Enhanced DNA sequencing technology is further helping companies in analyzing genetic sequences at a faster rate and affordable costs while providing them accurate results. For instance, scientists in Estonia were successfully able to develop a genetic testing technology which analyzes genes at single-molecule level, paving way for enhancing the efficacy of precision medicines at lower costs. Other factors such as the development of sophisticated infrastructure for efficient sharing of huge DNA datasets is estimated to bolster genealogy products & services market growth.

Data Confidentiality Continues to Pose Challenges

The current status-quo in the genealogy products and services market involves digital storage of data exposing it to the dangers of cybercrime and hacking. Additionally, genetic testing also influences life insurance premiums with companies considering results from the process to determine premiums. Insurance companies in Australia include genetic tests results in the risk classification for underwriting and are allowed to deny insurances in case the results predict the development of life-threatening diseases in the future. Further, the procedure can potentially cause discrimination during employment with the employers denying applications on the possibility of an applicant developing a disability in the future. Although the law prohibits companies from doing so, illegal leaking of information can influence the process.

While registering for genealogy processes, consumers compulsorily need to provide valuable information such as credit card numbers, name, and email addresses. This makes the companies a favorite target of cybercriminals. In addition to this, the increasing instances of data breaches are estimated to discourage consumers from using the services. Presence of lax or no regulations for classifying genetic testing as effective is adding to consumers’ confusion and poses a vital challenge to the genealogy products & services market growth.

Definition

Genealogy is the study of heritages and lineages, and comprises lineage tracing, DNA testing, cemetery records, family tree creation, and other related services.

About the Report

The report on genealogy products and services market provides an all-inclusive assessment of all the factors influencing the genealogy products & services market. Additionally, the report on genealogy products & services market provides a qualitative and quantitative assessment of each of the factors identified. The report also includes an opportunity assessment of the genealogy products & services market. An assessment of the competitive landscape prevalent in the genealogy products & services market has also been included in the report.

Market Structure

The report on genealogy products and services market segments the genealogy products & services market on the basis of category and region. Based on the category, the genealogy products & services market can be segmented into family records, family tree, forum, cemetery, newspapers, blogs, links, and DNA testing.

Additional Questions Answered

In addition to the aforementioned insights about the genealogy products & services market, the report answers the following vital questions about the genealogy products and services market:

  • Which region held the bulk of the genealogy products and services market share in 2018?
  • What category promises the best prospects of growth in the genealogy products & services market in 2019?
  • What are the lucrative opportunities on offer in the genealogy products & services market?
  • What are the challenges in the genealogy products & services market growth?
  • What are the threats that could dampen genealogy products & services market growth?

Research Methodology

The report on genealogy products & services market is a consequence of robust and exhaustive research methodology. A two-step research process was employed to obtain insights into the genealogy products and services market. Interviewing experts from the genealogy products & services market formed the basis of primary research while secondary research was conducted by thoroughly studying genealogy products & services trade journals, paid sources, and other industry-related publications. Results from both the steps were triangulated to produce an accurate forecast of the genealogy products and services market.

Request methodology of this Report.

Request Methodology On This Report @ https://www.factmr.co/connectus/sample?flag=RM&rep_id=3083

Critical insights enclosed in the report:

  • Country-wise assessment of the Genealogy Products and Services market
  • Underlying opportunities for emerging players in the Genealogy Products and Services market
  • Y-o-Y growth projection of the different segments and sub-segments of the Genealogy Products and Services market
  • SWOT and Porter’s Five Forces analysis to provide a clear understanding of the various companies in the Genealogy Products and Services market
  • Key strategies, product line, and market position of the established players in the Genealogy Products and Services market

The report aims to provide answers to the following questions related to the Genealogy Products and Services market:

  1. Which product is expected to witness the highest adoption rate across various geographies?
  2. What are the organic and inorganic strategies adopted by market players in the Genealogy Products and Services market?
  3. What are the current trends that are impacting the growth of the Genealogy Products and Services market?
  4. Who are the leading companies operating in the Genealogy Products and Services market?
  5. What are the marketing strategies adopted by key players to improve their sales and standing in the market?

Ask analyst about this report at https://www.factmr.co/connectus/sample?flag=AE&rep_id=3083

     Why Choose Fact.MR?

  • Nearly 70% of our current clientele are repeat customers
  • Analysis of the markets in over 150 countries
  • 24×7 customer support to address client queries at the earliest
  • Over 100,000 data points saved in our database
  • Custom reports available at affordable prices