After meteoric take-off in the 2010s, use of genetic testing has slowed—forcing major players in the space to branch away from solely selling testing kits to directly to consumers. Some are partnering with hospitals to support precision medicine initiatives, while others are linking up with pharmaceutical company to leverage their troves of genetic data to enhance drug development. Especially as the coronavirus pandemic has halted customer interest in nonessential health products, companies will need to dig deeper into the healthcare space to forge alternate revenue opportunities.
Three Key Questions This Report Will Answer:
WHAT’S IN THIS REPORT? In this report, Insider Intelligence will examine the industry forces that have helped evolve genomic information from a consumer novelty to a transformative healthcare technology. We outline how some of the key players in the genetic testing space have altered their business models to appeal not only to consumers but also to healthcare players across the industry, including health systems and pharma companies. We provide a glimpse at what's next for the implementation of genomic information—namely, the barriers that are holding genetic testing companies back from reaching new customers, including how the coronavirus pandemic could impact growth in the space.
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