Artificial Intelligence
Global Direct-to-Consumer (DTC) Genetic Testing Market to Reach US$1.9 Billion by the Year 2026
New York, Jan. 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Direct-to-Consumer (DTC) Genetic Testing Industry” – https://www.reportlinker.com/p05442614/?utm_source=GNW
Growth in the global is being driven by new technological advances and rising prevalence of many genetic disorders such as diabetes, cancer, cystic fibrosis, and Alzheimer`s disease globally. Factors such as real time drug discovery, cutting-edge diagnostic methods, and advanced treatments will propel market growth. Increasing user awareness, disposable income, and healthcare expenditure combined with rising adoption of customized medicine to treat genetic disease are other factors driving growth in the market. Public awareness regarding the availability of DTC genetic testing in developing as well as developed countries is continually rising. Leading market players like Ancestry and 23andMe are focusing on offering high-quality DTC genetic testing solutions that ensure accurate and effective test results. Growing awareness among Europeans and Americans regarding racial testing is also driving market demand. Another key driver in the DTC genetic testing market includes elderly consumers who take a keen interest in their healthcare, which is intensified by access to genetic test kits that can detect genes whose variations are associated with an increased risk of developing an age-related disease such as Alzheimer`s.
Amid the COVID-19 crisis, the global market for Direct-to-Consumer (DTC) Genetic Testing estimated at US$971.7 Million in the year 2020, is projected to reach a revised size of US$1.9 Billion by 2026, growing at a CAGR of 12.3% over the analysis period. Ancestry & Relationship Testing, one of the segments analyzed in the report, is projected to grow at a 9.8% CAGR to reach US$915.4 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nutrigenomics Testing segment is readjusted to a revised 13.6% CAGR for the next 7-year period. This segment currently accounts for a 21% share of the global Direct-to-Consumer (DTC) Genetic Testing market. Ancestry & relationship testing is the most prevalent test type, and the segment is slated to benefit from recent advances that are likely to link ancestry testing with health-related genetic testing. Nutrigenomics testing is used by healthcare professionals to suggest personalized diet and nutritional guidance to overweight people to maintain a healthy lifestyle and manage weight. The segment`s growth is propelled by rising prevalence of obesity and increasing R&D related to nutritional aspects.
The U.S. Market is Estimated at $440.2 Million in 2021, While China is Forecast to Reach $149.8 Million by 2026
The Direct-to-Consumer (DTC) Genetic Testing market in the U.S. is estimated at US$440.2 Million in the year 2021. The country currently accounts for a 43% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$149.8 Million in the year 2026 trailing a CAGR of 15.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.3% and 13.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.6% CAGR while Rest of European market (as defined in the study) will reach US$170.8 Million by the end of the analysis period. The US dominates market growth due to the increased awareness about genetic diseases among general populace, growing tendency among general public to identify early and either prevent or provide management of various chronic diseases as well as technical and scientific advancements made in the field of medicine and science in general. Additionally, the regulatory mechanism in the US is relatively better streamlined compared to other markets. Europe represents the next leading market for DTC genetic testing. The market is fueled by increasing healthcare spending by various governments to ensure easy access to advanced genetic tests.
Predictive Testing Segment to Reach $373.2 Million by 2026
The predictive testing market is recording strong growth, driven by exponential growth in the number of diseases and medical conditions that are identifiable through genetic modalities, surging from a mere 90-100 diseases in the early 1990s, to about 1,800 to 2,000 conditions in the present day. In the global Predictive Testing segment, USA, Canada, Japan, China and Europe will drive the 16.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$134.3 Million in the year 2020 will reach a projected size of US$371 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$20.3 Million by the year 2026.
Select Competitors (Total 81 Featured)
- 23andMe, Inc.
- Ancestry.com, LLC
- Any Lab Test Now
- Color Health, Inc.
- Direct Laboratory Services, LLC
- DNA Diagnostics Center
- Easy DNA
- Full Genomes Corporation, Inc.
- Gene by Gene, Ltd.
- Genesis Healthcare
- Helix OpCo LLC
- Laboratory Corporation of America® Holdings
- Living DNA
- Mapmygenome India Limited
- MyHeritage
- OmeCare
- Positive Bioscience, Inc.
- Quest Diagnostics, Inc.
- Request A Test, Ltd.
- Sonora Quest Laboratories LLC
- Xcode Life Sciences
Read the full report: https://www.reportlinker.com/p05442614/?utm_source=GNW
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
A Prelude to Genetic Testing
Top Ten Genetic Diseases Worldwide
Different Types of Genetic Tests include
List of Genetic Disorders by Event, Genetic Manifestation and
Prevalence
A Prelude to Direct-to-Consumer (DTC) Genetic Testing
Pros and Cons of Direct-to-Consumer (DTC) Genetic Testing
Health Information provided by DTC genetic Tests
DTC Genetic Tests? Limitations
Market Segments
Ancestry Tests
Predictive Tests
Carrier Tests
Nutrigenomics Tests
Impact of Covid-19 on Market Prospects of DTC Genetic Testing
Market Prospects and Outlook
US and Europe Dominate the Global DTC Genetic Tests Market
Ancestry Testing Holds Major Share, Predictive Testing
Witnesses Rapid Growth
Competitive Scenario
Recent Market Activity
Changing Landscape of DTC Genetic Testing
Regulations to Determine Market Viability
Regulating DTC Genomic Testing in the UK
Data Privacy Concerns to Challenge Market Prospects
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Consumers Self-Managing Treatments: The New Trend Driving the
DTC Genetic Testing Market
DTC Genetic Testing Players Join War against COVID-19
DTC Genetic Tests for Cancer Susceptibility
EXHIBIT 1: Worldwide Breast Cancer Incidence and Mortality
Rates by Region: 2018
Advances in Genome Sequencing
Next-Generation Sequencing (NGS) Aids DTC Genetic Testing Market
DTC Genetic Testing Presents Lucrative Personalization
Opportunities
Growing Focus on Service Personalization Generates
Opportunities for DTC Genetic Tests
Immense Popularity of Ancestry Testing
Emergence of DNA-based Nutrition Plans Put the Spotlight on DTC
Nutrigenetics Testing
Biomarker Discovery Leads to Advanced Genetic Testing
Select List of Available Tumor Markers
Hybrid Approach of Genetic Testing to Bridge Gap Between
Traditional and DTC Models
Oncology – A Key Focus Area for Genetic Testing
EXHIBIT 2: Global Cancer Incidence: Number of New Cancer Cases
in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
Ageing Demographics to Drive Demand for Genetic Testing
EXHIBIT 3: Expanding Elderly Population Worldwide: Breakdown of
Number of People Aged 65+ Years in Million by Geographic
Region for the Years 2019 and 2030
Increased Demand for Online Sales of DTC Genetic Tests
Use of Artificial Intelligence Adds Value to DTC Genetic
Testing Market
4. GLOBAL MARKET PERSPECTIVE
Table 1: World Current & Future Analysis for Direct-to-Consumer
(DTC) Genetic Testing by Geographic Region – USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Thousand for
Years 2020 through 2027 and % CAGR
Table 2: World Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Geographic Region – USA, Canada, Japan,
China, Europe, Asia-Pacific and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Thousand for
Years 2015 through 2019 and % CAGR
Table 3: World 12-Year Perspective for Direct-to-Consumer (DTC)
Genetic Testing by Geographic Region – Percentage Breakdown of
Value Revenues for USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets for Years 2015, 2021 &
2027
Table 4: World Current & Future Analysis for Ancestry &
Relationship Testing by Geographic Region – USA, Canada, Japan,
China, Europe, Asia-Pacific and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Thousand for
Years 2020 through 2027 and % CAGR
Table 5: World Historic Review for Ancestry & Relationship
Testing by Geographic Region – USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World Markets – Independent
Analysis of Annual Revenues in US$ Thousand for Years 2015
through 2019 and % CAGR
Table 6: World 12-Year Perspective for Ancestry & Relationship
Testing by Geographic Region – Percentage Breakdown of Value
Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific
and Rest of World for Years 2015, 2021 & 2027
Table 7: World Current & Future Analysis for Nutrigenomics
Testing by Geographic Region – USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World Markets – Independent
Analysis of Annual Revenues in US$ Thousand for Years 2020
through 2027 and % CAGR
Table 8: World Historic Review for Nutrigenomics Testing by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2015 through 2019
and % CAGR
Table 9: World 12-Year Perspective for Nutrigenomics Testing by
Geographic Region – Percentage Breakdown of Value Revenues for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2015, 2021 & 2027
Table 10: World Current & Future Analysis for Predictive
Testing by Geographic Region – USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World Markets – Independent
Analysis of Annual Revenues in US$ Thousand for Years 2020
through 2027 and % CAGR
Table 11: World Historic Review for Predictive Testing by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2015 through 2019
and % CAGR
Table 12: World 12-Year Perspective for Predictive Testing by
Geographic Region – Percentage Breakdown of Value Revenues for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2015, 2021 & 2027
Table 13: World Current & Future Analysis for Carrier Testing
by Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2020 through 2027
and % CAGR
Table 14: World Historic Review for Carrier Testing by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2015 through 2019
and % CAGR
Table 15: World 12-Year Perspective for Carrier Testing by
Geographic Region – Percentage Breakdown of Value Revenues for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2015, 2021 & 2027
Table 16: World Current & Future Analysis for Other Test Types
by Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2020 through 2027
and % CAGR
Table 17: World Historic Review for Other Test Types by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2015 through 2019
and % CAGR
Table 18: World 12-Year Perspective for Other Test Types by
Geographic Region – Percentage Breakdown of Value Revenues for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2015, 2021 & 2027
Table 19: World Current & Future Analysis for Single Nucleotide
Polymorphism (SNP) Chips by Geographic Region – USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Thousand for
Years 2020 through 2027 and % CAGR
Table 20: World Historic Review for Single Nucleotide
Polymorphism (SNP) Chips by Geographic Region – USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Thousand for
Years 2015 through 2019 and % CAGR
Table 21: World 12-Year Perspective for Single Nucleotide
Polymorphism (SNP) Chips by Geographic Region – Percentage
Breakdown of Value Revenues for USA, Canada, Japan, China,
Europe, Asia-Pacific and Rest of World for Years 2015, 2021 &
2027
Table 22: World Current & Future Analysis for Targeted Analysis
by Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2020 through 2027
and % CAGR
Table 23: World Historic Review for Targeted Analysis by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2015 through 2019
and % CAGR
Table 24: World 12-Year Perspective for Targeted Analysis by
Geographic Region – Percentage Breakdown of Value Revenues for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2015, 2021 & 2027
Table 25: World Current & Future Analysis for Whole Genome
Sequencing (WGS) by Geographic Region – USA, Canada, Japan,
China, Europe, Asia-Pacific and Rest of World Markets –
Independent Analysis of Annual Revenues in US$ Thousand for
Years 2020 through 2027 and % CAGR
Table 26: World Historic Review for Whole Genome Sequencing
(WGS) by Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2015 through 2019
and % CAGR
Table 27: World 12-Year Perspective for Whole Genome Sequencing
(WGS) by Geographic Region – Percentage Breakdown of Value
Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific
and Rest of World for Years 2015, 2021 & 2027
Table 28: World Current & Future Analysis for Online by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2020 through 2027
and % CAGR
Table 29: World Historic Review for Online by Geographic Region –
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World Markets – Independent Analysis of Annual Revenues in US$
Thousand for Years 2015 through 2019 and % CAGR
Table 30: World 12-Year Perspective for Online by Geographic
Region – Percentage Breakdown of Value Revenues for USA,
Canada, Japan, China, Europe, Asia-Pacific and Rest of World
for Years 2015, 2021 & 2027
Table 31: World Current & Future Analysis for Over-the-Counter
by Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2020 through 2027
and % CAGR
Table 32: World Historic Review for Over-the-Counter by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Revenues in US$ Thousand for Years 2015 through 2019
and % CAGR
Table 33: World 12-Year Perspective for Over-the-Counter by
Geographic Region – Percentage Breakdown of Value Revenues for
USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of
World for Years 2015, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
Market Facts
Paradigm Shift amongst Consumers Spurring DTC Genetic Testing
Market
List of Direct-To-Consumer Genetic Tests with FDA Marketing
Authorization
California to Propose Stringent Legislation for DTC Genetic
Testing Providers
DTC Genetic Testing – A Highly Competitive Market
Regulatory Scenario in US DTC Genetic Testing Market
Timeline of Major Events in the US Consumer Genomics Regulations
Regulatory Authorities Involved in Regulating DTC Genetics
Testing Market
Food and Drug Administration
A Brief Glance on FDA Controls on DTC Genetic Testing
Federal Trade Commission
Centers for Medicare and Medicaid Services
Patent and Trademark Office
The Genetic Information Nondiscrimination Act (GINA)
Market Analytics
Table 34: USA Current & Future Analysis for Direct-to-Consumer
(DTC) Genetic Testing by Test Type – Ancestry & Relationship
Testing, Nutrigenomics Testing, Predictive Testing, Carrier
Testing and Other Test Types – Independent Analysis of Annual
Revenues in US$ Thousand for the Years 2020 through 2027 and %
CAGR
Table 35: USA Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Test Type – Ancestry & Relationship Testing,
Nutrigenomics Testing, Predictive Testing, Carrier Testing and
Other Test Types Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 36: USA 12-Year Perspective for Direct-to-Consumer (DTC)
Genetic Testing by Test Type – Percentage Breakdown of Value
Revenues for Ancestry & Relationship Testing, Nutrigenomics
Testing, Predictive Testing, Carrier Testing and Other Test
Types for the Years 2015, 2021 & 2027
Table 37: USA Current & Future Analysis for Direct-to-Consumer
(DTC) Genetic Testing by Technology – Single Nucleotide
Polymorphism (SNP) Chips, Targeted Analysis and Whole Genome
Sequencing (WGS) – Independent Analysis of Annual Revenues in
US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 38: USA Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Technology – Single Nucleotide Polymorphism
(SNP) Chips, Targeted Analysis and Whole Genome Sequencing
(WGS) Markets – Independent Analysis of Annual Revenues in US$
Thousand for Years 2015 through 2019 and % CAGR
Table 39: USA 12-Year Perspective for Direct-to-Consumer (DTC)
Genetic Testing by Technology – Percentage Breakdown of Value
Revenues for Single Nucleotide Polymorphism (SNP) Chips,
Targeted Analysis and Whole Genome Sequencing (WGS) for the
Years 2015, 2021 & 2027
Table 40: USA Current & Future Analysis for Direct-to-Consumer
(DTC) Genetic Testing by Distribution Channel – Online and
Over-the-Counter – Independent Analysis of Annual Revenues in
US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 41: USA Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Distribution Channel – Online and
Over-the-Counter Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 42: USA 12-Year Perspective for Direct-to-Consumer (DTC)
Genetic Testing by Distribution Channel – Percentage Breakdown
of Value Revenues for Online and Over-the-Counter for the Years
2015, 2021 & 2027
CANADA
Table 43: Canada Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Test Type –
Ancestry & Relationship Testing, Nutrigenomics Testing,
Predictive Testing, Carrier Testing and Other Test Types –
Independent Analysis of Annual Revenues in US$ Thousand for the
Years 2020 through 2027 and % CAGR
Table 44: Canada Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Test Type – Ancestry & Relationship Testing,
Nutrigenomics Testing, Predictive Testing, Carrier Testing and
Other Test Types Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 45: Canada 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Test Type – Percentage Breakdown of
Value Revenues for Ancestry & Relationship Testing,
Nutrigenomics Testing, Predictive Testing, Carrier Testing and
Other Test Types for the Years 2015, 2021 & 2027
Table 46: Canada Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Technology – Single
Nucleotide Polymorphism (SNP) Chips, Targeted Analysis and
Whole Genome Sequencing (WGS) – Independent Analysis of Annual
Revenues in US$ Thousand for the Years 2020 through 2027 and %
CAGR
Table 47: Canada Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Technology – Single Nucleotide Polymorphism
(SNP) Chips, Targeted Analysis and Whole Genome Sequencing
(WGS) Markets – Independent Analysis of Annual Revenues in US$
Thousand for Years 2015 through 2019 and % CAGR
Table 48: Canada 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Technology – Percentage Breakdown of
Value Revenues for Single Nucleotide Polymorphism (SNP) Chips,
Targeted Analysis and Whole Genome Sequencing (WGS) for the
Years 2015, 2021 & 2027
Table 49: Canada Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Distribution
Channel – Online and Over-the-Counter – Independent Analysis of
Annual Revenues in US$ Thousand for the Years 2020 through 2027
and % CAGR
Table 50: Canada Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Distribution Channel – Online and
Over-the-Counter Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 51: Canada 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Distribution Channel – Percentage
Breakdown of Value Revenues for Online and Over-the-Counter for
the Years 2015, 2021 & 2027
JAPAN
Table 52: Japan Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Test Type –
Ancestry & Relationship Testing, Nutrigenomics Testing,
Predictive Testing, Carrier Testing and Other Test Types –
Independent Analysis of Annual Revenues in US$ Thousand for the
Years 2020 through 2027 and % CAGR
Table 53: Japan Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Test Type – Ancestry & Relationship Testing,
Nutrigenomics Testing, Predictive Testing, Carrier Testing and
Other Test Types Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 54: Japan 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Test Type – Percentage Breakdown of
Value Revenues for Ancestry & Relationship Testing,
Nutrigenomics Testing, Predictive Testing, Carrier Testing and
Other Test Types for the Years 2015, 2021 & 2027
Table 55: Japan Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Technology – Single
Nucleotide Polymorphism (SNP) Chips, Targeted Analysis and
Whole Genome Sequencing (WGS) – Independent Analysis of Annual
Revenues in US$ Thousand for the Years 2020 through 2027 and %
CAGR
Table 56: Japan Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Technology – Single Nucleotide Polymorphism
(SNP) Chips, Targeted Analysis and Whole Genome Sequencing
(WGS) Markets – Independent Analysis of Annual Revenues in US$
Thousand for Years 2015 through 2019 and % CAGR
Table 57: Japan 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Technology – Percentage Breakdown of
Value Revenues for Single Nucleotide Polymorphism (SNP) Chips,
Targeted Analysis and Whole Genome Sequencing (WGS) for the
Years 2015, 2021 & 2027
Table 58: Japan Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Distribution
Channel – Online and Over-the-Counter – Independent Analysis of
Annual Revenues in US$ Thousand for the Years 2020 through 2027
and % CAGR
Table 59: Japan Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Distribution Channel – Online and
Over-the-Counter Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 60: Japan 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Distribution Channel – Percentage
Breakdown of Value Revenues for Online and Over-the-Counter for
the Years 2015, 2021 & 2027
CHINA
Table 61: China Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Test Type –
Ancestry & Relationship Testing, Nutrigenomics Testing,
Predictive Testing, Carrier Testing and Other Test Types –
Independent Analysis of Annual Revenues in US$ Thousand for the
Years 2020 through 2027 and % CAGR
Table 62: China Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Test Type – Ancestry & Relationship Testing,
Nutrigenomics Testing, Predictive Testing, Carrier Testing and
Other Test Types Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 63: China 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Test Type – Percentage Breakdown of
Value Revenues for Ancestry & Relationship Testing,
Nutrigenomics Testing, Predictive Testing, Carrier Testing and
Other Test Types for the Years 2015, 2021 & 2027
Table 64: China Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Technology – Single
Nucleotide Polymorphism (SNP) Chips, Targeted Analysis and
Whole Genome Sequencing (WGS) – Independent Analysis of Annual
Revenues in US$ Thousand for the Years 2020 through 2027 and %
CAGR
Table 65: China Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Technology – Single Nucleotide Polymorphism
(SNP) Chips, Targeted Analysis and Whole Genome Sequencing
(WGS) Markets – Independent Analysis of Annual Revenues in US$
Thousand for Years 2015 through 2019 and % CAGR
Table 66: China 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Technology – Percentage Breakdown of
Value Revenues for Single Nucleotide Polymorphism (SNP) Chips,
Targeted Analysis and Whole Genome Sequencing (WGS) for the
Years 2015, 2021 & 2027
Table 67: China Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Distribution
Channel – Online and Over-the-Counter – Independent Analysis of
Annual Revenues in US$ Thousand for the Years 2020 through 2027
and % CAGR
Table 68: China Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Distribution Channel – Online and
Over-the-Counter Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 69: China 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Distribution Channel – Percentage
Breakdown of Value Revenues for Online and Over-the-Counter for
the Years 2015, 2021 & 2027
EUROPE
Advantages of Liberalization of DTC Genetic Testing Regulations
EU Policymakers Need to Liberalize Regulations and Create
Single Market for DTC Genetic Testing
Market Analytics
Table 70: Europe Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Geographic Region –
France, Germany, Italy, UK and Rest of Europe Markets –
Independent Analysis of Annual Revenues in US$ Thousand for
Years 2020 through 2027 and % CAGR
Table 71: Europe Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Geographic Region – France, Germany, Italy,
UK and Rest of Europe Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 72: Europe 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Geographic Region – Percentage
Breakdown of Value Revenues for France, Germany, Italy, UK and
Rest of Europe Markets for Years 2015, 2021 & 2027
Table 73: Europe Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Test Type –
Ancestry & Relationship Testing, Nutrigenomics Testing,
Predictive Testing, Carrier Testing and Other Test Types –
Independent Analysis of Annual Revenues in US$ Thousand for the
Years 2020 through 2027 and % CAGR
Table 74: Europe Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Test Type – Ancestry & Relationship Testing,
Nutrigenomics Testing, Predictive Testing, Carrier Testing and
Other Test Types Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 75: Europe 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Test Type – Percentage Breakdown of
Value Revenues for Ancestry & Relationship Testing,
Nutrigenomics Testing, Predictive Testing, Carrier Testing and
Other Test Types for the Years 2015, 2021 & 2027
Table 76: Europe Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Technology – Single
Nucleotide Polymorphism (SNP) Chips, Targeted Analysis and
Whole Genome Sequencing (WGS) – Independent Analysis of Annual
Revenues in US$ Thousand for the Years 2020 through 2027 and %
CAGR
Table 77: Europe Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Technology – Single Nucleotide Polymorphism
(SNP) Chips, Targeted Analysis and Whole Genome Sequencing
(WGS) Markets – Independent Analysis of Annual Revenues in US$
Thousand for Years 2015 through 2019 and % CAGR
Table 78: Europe 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Technology – Percentage Breakdown of
Value Revenues for Single Nucleotide Polymorphism (SNP) Chips,
Targeted Analysis and Whole Genome Sequencing (WGS) for the
Years 2015, 2021 & 2027
Table 79: Europe Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Distribution
Channel – Online and Over-the-Counter – Independent Analysis of
Annual Revenues in US$ Thousand for the Years 2020 through 2027
and % CAGR
Table 80: Europe Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Distribution Channel – Online and
Over-the-Counter Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 81: Europe 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Distribution Channel – Percentage
Breakdown of Value Revenues for Online and Over-the-Counter for
the Years 2015, 2021 & 2027
FRANCE
Table 82: France Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Test Type –
Ancestry & Relationship Testing, Nutrigenomics Testing,
Predictive Testing, Carrier Testing and Other Test Types –
Independent Analysis of Annual Revenues in US$ Thousand for the
Years 2020 through 2027 and % CAGR
Table 83: France Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Test Type – Ancestry & Relationship Testing,
Nutrigenomics Testing, Predictive Testing, Carrier Testing and
Other Test Types Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 84: France 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Test Type – Percentage Breakdown of
Value Revenues for Ancestry & Relationship Testing,
Nutrigenomics Testing, Predictive Testing, Carrier Testing and
Other Test Types for the Years 2015, 2021 & 2027
Table 85: France Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Technology – Single
Nucleotide Polymorphism (SNP) Chips, Targeted Analysis and
Whole Genome Sequencing (WGS) – Independent Analysis of Annual
Revenues in US$ Thousand for the Years 2020 through 2027 and %
CAGR
Table 86: France Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Technology – Single Nucleotide Polymorphism
(SNP) Chips, Targeted Analysis and Whole Genome Sequencing
(WGS) Markets – Independent Analysis of Annual Revenues in US$
Thousand for Years 2015 through 2019 and % CAGR
Table 87: France 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Technology – Percentage Breakdown of
Value Revenues for Single Nucleotide Polymorphism (SNP) Chips,
Targeted Analysis and Whole Genome Sequencing (WGS) for the
Years 2015, 2021 & 2027
Table 88: France Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Distribution
Channel – Online and Over-the-Counter – Independent Analysis of
Annual Revenues in US$ Thousand for the Years 2020 through 2027
and % CAGR
Table 89: France Historic Review for Direct-to-Consumer (DTC)
Genetic Testing by Distribution Channel – Online and
Over-the-Counter Markets – Independent Analysis of Annual
Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 90: France 12-Year Perspective for Direct-to-Consumer
(DTC) Genetic Testing by Distribution Channel – Percentage
Breakdown of Value Revenues for Online and Over-the-Counter for
the Years 2015, 2021 & 2027
GERMANY
Table 91: Germany Current & Future Analysis for
Direct-to-Consumer (DTC) Genetic Testing by Test Type –
Ancestry & Relationship Testing, Nutrigenomics Testing,
Predictive Testing, Carrier Testing and Other Test Types –
Independent Analysis of Annual Revenues in US$ Thousand for the
Years 2020 through 2027 and % CAGR
Table 92: Germany Historic Review for Direct-to-Consumer (DTC)
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Artificial Intelligence
Free Your Hands, QIDI Vida Smart AR Glasses Lead the Way in New Sports Experience.
NEW YORK, April 19, 2024 /PRNewswire/ — Outdoor smart AR glasses, QIDI Vida, will officially launch on 23rd April on the Kickstarter platform. QIDI Vida integrates the many functions of smart watches, sports headphones, cycling computers, heart rate monitors, and walkie-talkies using AR+AI technology, allowing users to bid farewell to cumbersome device management and enjoy outdoor sports anytime, anywhere with just one pair of glasses.
Function:
QIDI Vida uses high-tech HUD (Head-Up Display) which is similar to the technology used for aircrafts and premium cars and introduces it to the sports industry. Users can activate the HUD function at any time using voice control, enabling them to focus on the route ahead whilst simultaneously having access to information such as navigation, speed, heart rate, power and cadence, among other metrics. Another great function of the QIDI Vida is that users can also enjoy audiovisual entertainment through the optically perceived 100-inch AR HUD screen, when having some down time.
As cyclists and hikers often travel in groups, QIDI Vida supports eSIM and team functionality, allowing real-time voice communication without releasing handlebars, and users can monitor their groups’ real-time locations. The glasses also have comprehensive sensing and monitoring capabilities including temperature, humidity, UV, air pressure, geomagnetism and acceleration. In addition to obtaining environmental and health information, it also features health warnings such as altitude sickness symptoms and high heart rate, as well as fall and collision detection functions. And, in the event of danger, it can send distress signals to teammates.
Perks:
QIDI Vida has a global voice recognition and interaction feature that allows you to control all functions within the device by voice. To better provide users with an immersive sports experience, QIDI Vida’s intelligent system will have the capability to instantly gather personalised sports data, enabling it to deliver timely voice alerts and broadcasts, including the duration of exercise, distance, the environment and the weather – all tailored to the user’s preferences.
QIDI Vida enables voice-controlled photos and video recordings, allowing users to capture moments whilst cycling or hiking without the need to stop. QIDI Vida supports connections with common cycling smart hardware such as Garmin, Wahoo, Apple, and Samsung, supports GPX route files, and is compatible with professional sports apps such as Strava, Keep, Zwift, Apple Health, and All Trails.
QIDI Vida stands out for its lightweight and comfortable design with a dual lens for a full-colour data display, unlike competing AR glasses that typically have a single lens and limited colour. This innovation significantly enhances and augments the user’s sports and reality experience.
QIDI Vida will launch on the Kickstarter platform: https://www.kickstarter.com/projects/109560964/qidi-vida-smart-ar-glasses-for-sports
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Artificial Intelligence
Risk Analytics Market worth $180.9 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, April 19, 2024 /PRNewswire/ — The growing use of real-time monitoring and advanced analytics, integration with cutting-edge technologies like blockchain and IoT, and an emphasis on cybersecurity, cross-industry applications, and regulatory compliance are the key factors that will shape the risk analytics market in the future. The market’s development will also be influenced by collaborative risk management, improved user experience, and an increasing focus on ESG factors and risk culture.
The Risk Analytics Market is estimated to grow from USD 59.7 billion in 2024 to USD 180.9 billion in 2029, at a CAGR of 24.8% during the forecast period, according to a new report by MarketsandMarkets™. Several trends fuel the global spread of Risk Analytics. Increasingly Increasing Data Complexity, Rising Cybersecurity Threats and Rising Adoption of Cloud-Based Solutions A growing talent pool of data scientists and engineers is building the necessary tools and infrastructure. Governments are recognizing the potential of risk analytics for economic growth and are investing in research and development. These trends make DI more accessible and valuable, leading to its global adoption.
Browse in-depth TOC on “Risk Analytics Market”260 – Tables 60 – Figures350 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019–2023
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD Billion
Segments Covered
Offering,Risk Type, Risk stages, Vertical, and Region.
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US)
By offering the services segment to account for higher CAGR during the forecast period
In the Risk Analytics Market, the highest CAGR of services is fueled by Increasing Complexity of Risks, AI and machine learning advancements, big data analytics integration, business process optimization, cloud-based solutions adoption, data-driven culture, and diverse industry adoption. These trends reflect a global shift towards leveraging data for competitive advantage, driving a continuous need for sophisticated risk analytics services across sectors. As businesses prioritize agility, the growth of services in the Risk Analytics Market is driven by the need for effective risk management strategies in an increasingly complex and uncertain business environment.
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By Type, GRC software is expected to hold the largest market size for the year 2024
GRC software typically offers comprehensive solutions that cover a wide range of risk management needs, including compliance management, policy management, audit management, and risk assessment. They also provide organizations with enhanced visibility into their risk landscape. Through features such as risk assessment, risk monitoring, and reporting, organizations can identify and prioritize risks more effectively, enabling proactive risk management strategies. GRC software streamlines risk management processes through automation, reducing manual effort and increasing efficiency. Tasks such as risk assessments, control testing, and incident management can be automated, freeing up resources to focus on strategic risk mitigation efforts. the combination of comprehensive functionality, regulatory compliance support, efficiency gains, scalability, integration capabilities, and culture enhancement makes GRC software a preferred choice for many organizations seeking to manage risk effectively.
By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period
The Healthcare and Lifesciences is experiencing a surge in the adoption of risk analytics due to a confluence of factors. Healthcare providers and life sciences companies wants to ensure the safety and well-being of patients. Risk analytics helps in identifying potential risks to patient safety, such as medication errors, adverse events, and medical device failures. The healthcare and life sciences industries are heavily regulated, with strict guidelines for patient care, data privacy, drug development, and clinical trials. Risk analytics helps organizations ensure compliance with these regulations by identifying and mitigating risks of non-compliance. Healthcare organizations and life sciences companies also face financial risks associated with fraud, billing errors, revenue cycle management, and reimbursement challenges. Risk analytics helps in detecting anomalies and optimizing financial processes to mitigate these risks.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The Asia-Pacific (APAC) region is experiencing rapid growth in the Risk Analytics Market, boasting the highest Compound Annual Growth Rate (CAGR). This surge is primarily attributed to rising demand for data-driven decision-making solutions, expanding digital transformation initiatives across industries.. Moreover, the region’s favorable regulatory environment, growing investments in big data analytics, and the integration of advanced technologies like the Internet of Things (IoT) further propel APAC’s dominance in Risk Analytics Market growth.
Top Key Companies in Risk Analytics Market:
The major risk analytics software and service providers include IBM (US), SAS Institute (US), Oracle (US), FIS(US), Moody’s Analytics (US), ProcessUnity(US), ServiceNow (US), Marsh (US), Aon (UK), MetricStream (US), Resolver (Canada), SAP (Germany), Milliman(US), LogicManager(US), Provenir(US), SAI360(US), Deloitte(UK), OneTrust(US), Diligent(US), Alteryx(US), CRISIL(India), Archer(US), ZestyAI(US), Fusion Risk Management(US), RiskVille(Ireland), SPIN Analytics(UK), Kyvos Insights(US), Imperva(US), Cirium(UK), Quantexa(UK), ClickUp(US), Sprinto(US), Ventiv(US), Adenza(US), Centrl.AI(Canada), SafetyCulture(Australia), Quantifi(US), CubeLogic(UK), Onspring(US), Riskoptics(US). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the Risk Analytics Market.
Recent Developments:
In March 2024, Orcale announced Oracle Risk Management Cloud in Release 24B. It offers comprehensive solution designed to help organizations identify, assess, and mitigate risks across their business operations. It offers advanced analytics, automation, and collaboration tools to streamline risk management.In March 2024, FIS Global announces card fraud detection capabilities leveraging artificial intelligence (AI) with aim to bolster FIS’s ability to identify and prevent fraudulent transactions, providing greater security for cardholders and financial institutions alike.In March 2024, Aon acquired an AI-powered platform to assist fleet and mobility clients in making data-driven decisions, enhancing operational efficiency and risk management. The platform utilizes artificial intelligence to analyze data and provide insights, enabling clients to optimize their fleet operations and improve decision-making processes.In March 2024, Crisp joined Resolver, with the aim to enhance Resolver’s risk intelligence capabilities by integrating Crisp’s expertise and technology into its platform, offering clients improved risk assessment and mitigation tools.In February 2024, SAS partnered with Carahsoft to bring analytics, AI, and data management solutions to the public sector. The aim is to leverage SAS’s expertise in advanced analytics and Carahsoft’s extensive government market reach to offer tailored solutions that enable public sector organizations to harness the power of data for informed decision-making and improved outcomes.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210662258
Risk Analytics Market Advantages:
By offering insights into potential risks, opportunities, and trends, risk analytics helps organisations make data-driven decisions that improve strategic planning and resource allocation.In order to improve risk management procedures and lessen exposure to possible threats, risk analytics solutions assist businesses in identifying, evaluating, and mitigating risks across a range of business activities, including finance, operations, and compliance.Through real-time monitoring and anomaly detection made possible by risk analytics, organisations may proactively address shifting market situations, legal requirements, and cybersecurity threats.Risk analytics solutions assist organisations lower operating costs, increase productivity, and streamline compliance activities, which results in cost savings and resource optimisation. They do this by streamlining risk management procedures and automating routine work.Accurate risk assessments, audit trails, and reporting capabilities are just a few of the ways that risk analytics solutions help organisations comply with regulations and stay out of trouble.Organisations can enhance their resilience and competitiveness by anticipating and mitigating potential hazards before they materialise through the use of predictive modelling and advanced analytics approaches in risk analytics.Report Objectives
To define, describe, and predict the Risk Analytics Market by offering, risk type, risk stages, vertical, and regionTo provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growthTo analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leadersTo forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo profile the key players and comprehensively analyze their market rankings and core competenciesTo analyze the competitive developments, such as partnerships, product launches, and mergers & acquisitions, in the Risk Analytics MarketBrowse Adjacent Markets: Analytics Market Research Reports & Consulting
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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Artificial Intelligence
Robotic Palletizer Market worth $1.9 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, April 19, 2024 /PRNewswire/ — The robotic palletizer market is projected to grow from USD 1.4 billion in 2024 and is expected to reach USD 1.9 billion by 2029, growing at a CAGR of 5.9% from 2024 to 2029 according to a new report by MarketsandMarkets™. Rising awareness towards workplace safety and reducing the risk of work-related injuries to drive the market. Robotic palletizers significantly enhance workplace safety and reduce the risk of work-related injuries and associated costs. By automating repetitive tasks like palletizing, businesses can redeploy their human workforce to higher-value activities that require human skills like problem-solving, critical thinking, and customer interaction. This allows them to optimize their workforce and leverage human capabilities more effectively.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=251064253
Browse in-depth TOC on “Robotic Palletizer Market” 100 – Tables60 – Figures200 – Pages
Robotic Palletizer Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 1.4 billion
Estimated Value by 2029
$ 1.9 billion
Growth Rate
Poised to grow at a CAGR of 5.9%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Component, Robot Type, Application, End-use Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
High initial investment cost
Key Market Opportunities
Increasing application in small and medium-sized enterprises
Key Market Drivers
Growing labor shortage and need for workforce optimization
Collaborative robots in the robot type segment are expected to witness higher growth rate during the forecast period.
Collaborative robots are expected to witness a higher CAGR during the forecast period. Unlike traditional industrial robots that often require physical barriers or cages to protect human workers, cobots are equipped with advanced safety features, such as force and torque sensors, collision detection, and speed monitoring. These features enable cobots to operate safely in proximity to humans without posing significant risks of injury.
The Pharmaceutical segment in the robotic palletizer market is expected to witness highest growth rate during the forecast period.
Pharmaceutical products are subject to strict regulations regarding storage, handling, and quality control. Robotic palletizers play a crucial role in providing greater precision and consistency in palletizing tasks and minimizing the risk of contamination within pharmaceutical manufacturing facilities. It also reduces human intervention in the handling and stacking of products and helps mitigate the potential for cross-contamination and ensures adherence to strict hygiene standards.
End-of-Arm- Tooling (EOAT) component is expected to witness the highest CAGR in the robotic palletizer market during the forecast period.
End-of-arm tooling (EOAT) is a crucial element of a robotic arm system, especially in applications like robotic palletizing, where the robot needs to interact with various objects or products. EOAT essentially acts as the hand of the robotic arm, designed to securely grasp, lift, and place boxes or cases onto pallets. Overall, EOAT plays a vital role in the effectiveness of robotic palletizers as it ensures secure handling of products, efficient palletizing patterns, and smooth operation of the entire system.
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North America is expected to hold the largest share of the robotic palletizer industry during the forecast period.
North America is home to major automobile and retail companies, which has accelerated the demand for robotic palletizers in this region. Additionally, the rise in manufacturing activity, fueled by plans for reshoring and technological improvements, has further driven the need for robotic palletizers. In North America, certain government funds are available to increase workplace safety. In 2023, the Occupational Safety and Health Administration announced a grant of approximately USD 12.7 million to 100 non-profit organizations across the nation to provide education and training for workers and employers about recognizing workplace hazards, injury prevention, and understanding workers’ rights and employers’ responsibilities under federal law. Businesses that use robotic palletizers may be eligible for funding as they lower the risk of worker injuries from manual lifting.
Key Players
Leading players in the robotic palletizer companies include FANUC CORPORATION (Japan), KION GROUP AG (Germany), KUKA AG (Germany), ABB (Switzerland), and Krones AG (Germany). Schneider Packaging Equipment Company, Inc. (US), Honeywell International Inc. (US), Kaufman Engineered Systems (US), Concetti S.p.A. (Italy), Sidel (France), Brenton, LLC. (US), A-B-C Packaging Machine Corporation (US), Antenna Group (Italy), BEUMER GROUP (Germany), Brillopak (UK), BW Integrated Systems (US), Columbia Machine, Inc. (US), Euroimpianti S.p.A. (Italy), Fuji Yusoki Kogyo Co., Ltd. (Japan), HAVER & BOECKER OHG (Germany), KHS Group (Germany), MMCI (US), Okura Yusoki Co., Ltd. (Japan), Rothe Packtech Pvt. Ltd. (India), and S&R Robot Systems, LLC. (US) are few other key companies operating in the robotic palletizer market.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports & Consulting
Related Reports:
Palletizer Market Size, Share, Statistics and Industry Growth Analysis Report by Technology (Conventional, Robotic), Product Type (Bags, Boxes and Cases, Pails and Drums), Industry (Food & Beverages, Chemicals, Pharmaceuticals, Cosmetics & Personal Care, E-commerce and Retail) & Region – Global Growth Driver and Industry Forecast to 2029
Autonomous Mobile Robots Market by Offering (Hardware, Software and Services), Payload Capacity (500 kg), Navigation Technology (Laser/LiDAR, Vision Guidance), Industry (Manufacturing, Retail, E-commerce) – Global Forecast to 2028
Automated Guided Vehicle Market Size, Share, Industry, Statistics & Growth by Type (Tow Vehicles, Unit Load Carriers, Forklift Trucks, Assembly Line Vehicles, Pallet Trucks), Navigation Technology (Laser Guidance, Magnetic Guidance, Vision Guidance), Industry, Region – Global Forecast to 2028
Automated Storage and Retrieval System Market by Function (Storage, Distribution, Assembly), Type (Unit Load, Mini Load, Vertical Lift Module, Carousel, Mid Load), Vertical (Automotive, Food & Beverages, E-Commerce, Retail) – Global Forecast to 2028
Automated Material Handling Equipment Market Size, Share, Statistics and Industry Growth Analysis Report by Product (Robots, ASRS, Conveyors And Sortation Systems, Cranes, WMS, AGV), System Type (Unit Load, Bulk Load), Industry (Automotive, E-Commerce, Food & Beverage) and Region – Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/robotic-palletizer-companies.aspContent Source: https://www.marketsandmarkets.com/PressReleases/robotic-palletizer.asp
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