ROCKVILLE, Maryland, April 16, 2019 /PRNewswire/ --Fact.MR has been actively inspecting the overall status prevailing across the global market for genealogy products & services. This assessment skillfully discourse that surging demand for genetic and DNA testing in a variety of industries, merged with increasing awareness related to genealogy is proving motivational for the overall market growth. In order to further acquire precise knowledge about expected opportunities and trends in the global genealogy products & services market, Fact.MR has published a new study titled "Genealogy Products and Services Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2024", which is available on its online portal. It is also been observed that leading players functioning in the target market are finding out fresh ways to bolster their online presence; this is achieved through the launch of innovative services to attract consumers.
As per this intelligent Fact.MR study, the genealogy products & services market is expected to acquire more than US$ 3 billion in 2019. Moreover, it is projected that the concerned market will exhibit growth at 11.4% CAGR through 2024. In addition, the concerned market is projected to retain its strong run with numerous factors prompting the strategy of key players. Overall, this assessment helps to educate readers about certain decisive aspects such as market dynamics, market value (US$ Mn), market size (US$ Mn), cost structure, market concentration and a lot more.
The role of technology is playing a crucial role in encouraging the genealogy products & services market. Further, it has been analyzed that genealogy products & services companies are coupling data analytics, big data, machine learning and artificial intelligence for successfully storing and scrutinizing a large amount of data. It has been noticed that increasing utilization of online platforms aimed at marketing services has proven to be another positive step.
Forensics Expected to Offer Safer Haven for DNA Testing in Coming Years
According to this well-compiled assessment, DNA and genetic testing is progressively gaining traction across the field of forensics. The inclusion of sophisticated technology as well as sequencing techniques are permitting proficient investigation. There have been additional advancement in genetic testing that has inspired forensics departments to classify suspects with the help of smaller and mixed DNA sample. Hence, all such factors are improving the adoption of genealogy products and services across the forensics domain.
Demand for Genetic Testing Rises as Pharmacogenomics Gain Traction
With the development of pharmacogenomics, there has been a stoking factor which has been favoring growth across the genealogy products & services market. To be precise, pharmacogenomics is the study of genetics basically to predict the effect of medication on the human body. Presently, genetic testing is already being bargained for prescribing personalized medications aimed at the treatment of anxiety, panic disorder, schizophrenia, post-traumatic disorder as well as bipolar disorder.
The research report finally receives closure with a detailed competitive analysis covering all the major companies operating in the global genealogy products & services market. Each of these players is studied on the basis of product portfolio, sales footprint and strategy overview. Some of the striking companies mentioned in the report are Familysearch, Geneanet, WikiTree, FindmyPast, Ancestry.com, Billion Graves and Family Tree DNA.
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