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Genealogy Products and Services Market

Genealogy Products and Services Market

Genealogy Products and Services Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2024

Genealogy Products and Services Market
FACT3083MR
  • Feb-2019
  • List of Figures : 32
  • 170 Pages
  • Healthcare

Fragmented Nature of Market to Prevail

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. Some of the recent notable developments in the genealogy products & services market include:

  • To capitalize on the surging demand for home DNA testing, MyHeritage signed an agreement with WHSmith, giving latter the right to sell and distribute its DNA kits in the UK. The agreement is the first of its kind in the UK and will allow MyHeritage to extend its network.
  • 23andMe, Inc., became the first company in the USA to receive an authorization for conducting direct-to-consumer test estimating the risks of cancer in the country. The authorization allows 23andMe to provide consumers with a report on BRCA1 and BRCA2 genes which are closely associated with higher risks of ovarian, breast, and prostate cancer.
  • com, a leading player in the genealogy products & services market, recently released 94 new and updated genetic communities specifically for African Americans to help them learn about their lineage and heritage.
  • To ensure precise and extensive results, FamilySearch announced it will be redesigning its database to include data about same-sex families. The company claims it will finish redesigning its system in 2019.

Other leading companies profiled in the report include Geneanet, WikiTree, FindmyPast, GenealogyBank, Living DNA, Billion Graves, and Family Tree DNA.

genealogy products services market perceptual mapping

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.

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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.

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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.

genealogy products services market growth analysis

Definition

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

An Adaptive Approach to Modern-day Research Needs

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.

genealogy products services market taxonomy

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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.

Fact.MR recently released a recent study titled, “Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018 to 2024” which provides valuable insights into the genealogy products & services market. The study identifies and assesses the key factors influencing the performance of the genealogy products & services market.

Both quantitative and qualitative analysis of the factors impacting the growth of genealogy products & services market has been propounded in the report. The report also provides a detailed assessment of all the macro and microeconomic market factors such as drivers, restraints, opportunities, and threats.

A comprehensive analysis of the competitive landscape prevalent in the genealogy products and services market has also been provided towards the end of the report.

Chapter 1 – Executive Summary

The report on genealogy products and services market commences with an executive summary which provides brief yet affluent information about the genealogy products & services market. In addition to this, the chapter highlights the key trends and analyses its impact on the genealogy products and services market.

A summary of key findings and statistics along with a detailed opportunity assessment and exclusive recommendations from Fact.MR analysts have been provided in the chapter.

Chapter 2 – Market Introduction

A concrete definition of the genealogy products & services market has been provided with a detailed taxonomy of the market. The chapter also sheds light on the scope of the report.

Chapter 3 – Global Genealogy Products and Services Market Analysis, 2018

The chapter provides a detailed historical analysis of the performance of the genealogy products and services market along with an authentic forecast of the market.

Additionally, a more detailed assessment of the market on the basis of region and category has also been provided in the chapter.

The chapter also highlights the various mediums through which genealogy products & services are extending their consumer base and provides a thorough comparison between free and paid products and services.

Chapter 4 – Genealogy Products & Services Comparison

A thorough comparison between the different services and products offered by the leading players operating in the genealogy products & services market has been provided in the chapter.

Chapter 5 – Genealogy Products & Services Market Dynamics

The chapter lists and analyses all the key market dynamics such as trends, restraints, challenges, and opportunities prevalent in the genealogy products & services market.

Chapter 6 – Genealogy Products & Services Market Background

A comprehensive assessment of all the factors influencing the genealogy products & services market performance.

The chapter also sheds light on the changing cost structure of the genealogy products & services market. A key assessment of the different regulations applicable to genealogy products & services market has also been provided.

Chapter 7 – Global Genealogy Products & Services Market Demand (in Value or Size in US$ Mn) Analysis 2013-2017 and Forecast, 2018-2024

The chapter commences with a brief overview of the genealogy products & services market.

The ensuing sections of the report offer a detailed analysis of the genealogy products & services market performance in the recent past along with an authentic forecast of the genealogy products & services market.

Chapter 8 – North America Genealogy Products & Services Market Demand Analysis 2013-2017 and Forecast, 2018-2024

A brief introduction of the genealogy products and services market prevalent in the North American region is provided at the start of the report.

The ensuing segments of the chapter provide a thorough analysis of the genealogy products & services market on the basis of the market taxonomy presented earlier in the report. A country-wise forecast and market share analysis has also been included in the chapter.

Chapter 6 – Latin America Genealogy Products and Services Market Demand Analysis 2013-2017 and Forecast, 2018-2024

The chapter assesses the genealogy products & services market existent in the Latin American region.

Along with a historical analysis of the genealogy products & services market in the region, the chapter assesses the price of different genealogy products & services and highlights factors and trends that influence the prices.

Chapter 10 – Europe Genealogy Products and Services Market Demand Analysis 2013-2017 and Forecast, 2018-2024

A detailed assessment of the genealogy products and services market prevalent in the European region has been propounded in the chapter. Additionally, the chapter analyzes the market in the region on the basis of country, product type, and category.

The chapter also provides a thorough assessment of the market share each of the segment holds along with a detailed pricing analysis of the genealogy products & services.

Chapter 11 – APAC Genealogy Products and Services Market Demand Analysis 2013-2017 and Forecast, 2018-2024

The chapter offers all-inclusive insights into the genealogy products and services market prevalent in the APAC region.

Additionally, it provides a detailed assessment of all the key market trends influencing the performance of the genealogy products & services market. A country-wise market share analysis has also been included in the chapter.

Chapter 12 – Middle East and Africa Genealogy Products and Services Market Demand Analysis 2013-2017 and Forecast, 2018-2024

A brief outlook of the genealogy products and services market is provided at the beginning of the chapter. The ensuing segments of the chapter provide a detailed assessment of the pricing and trends impacting the genealogy products and services market growth in the region.

An authentic forecast of the genealogy products & services market has also been propounded in the chapter.

Chapter 13 – Market Structure Analysis

The chapter sheds light on the distribution of revenue between different tier companies and provides a map detailing how much control of the genealogy products & services market do the companies have on the basis of region.

Chapter 14 – Competition Analysis

All the leading players operating in the genealogy products & services market are identified in the chapter.

Detailed profiling of each of the leading player sheds light on their product portfolios, market share, global footprint, notable business developments, and their revenue share in the genealogy products & services market.

The information provided in the report can be utilized by business professionals and stakeholders to streamline their strategy and gain maximum profitability by aligning them to the ongoing trends in the genealogy products & services market.

Chapter 15 – Assumptions and Acronyms Used

The chapter provides a list of all the assumptions and acronyms used across the report to help readers gain a better understanding of the genealogy products & services market.

Chapter 16 – Research Methodology

The report on genealogy products & services market is the consequence of a robust and exhaustive research methodology which has been thoroughly explained in the chapter.

A two-step research process involving primary and secondary researches was employed to obtain insights into the genealogy products & services market.

While primary research involved interviewing experts from the genealogy products & services market, secondary research was conducted by thoroughly studying trade journals, company press releases, paid sources, and other industry-related publications.

Results from both the steps of research were cross-referenced to filter out erroneous information and create an accurate forecast of the genealogy products & services market.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.