NEW YORK, Oct. 20, 2023 /PRNewswire/ — A latest research report [115+] pages with 360-Degree visibility, titled “Genealogy Products & Services Market Share, Size, Trends, Industry Analysis Report, By Category (Family Records, Family Trees, Forums, Cemeteries, Newspapers, Blogs, DNA Testing, Others); By Application; By Region; Segment Forecast, 2023 – 2032” published by Polaris Market Research in its research repository.
“According to research report, the global genealogy products & services market size/share was valued at USD 3.50 Billion in 2022 and is expected to touch USD 10.13 Billion By 2032, growing at a CAGR of 11.2% during the forecast period.”
Genealogy Products & Services Market: Report Overview
Genealogy is the terminology used to analyze families and family history and tracking of their lineages. Unearthing the roots by researching and traversing the historic content to alter the facts into delightful life stories is the procedure for genealogy. The research offers a comprehension of ancestors, where they came from, and how they lived their lives. The rapidly rising demand for genealogy products & services market can be attributed to the fact that the research is functional to maintain ethnic traditions and family culture for generations to come.
The absence of ceremonial records and growing interest in culture and heritage are some elements promoting the market. The genealogy service providers employ several analysis procedures involving genetic analysis, embracing an oral interview, and others. It is used to garner notable information about the family in question. The garnered information assists the genealogists to take out the lineage of a person’s family and its relationship with the members. This branch has acquired approval in varied parts of the world, which pushes the growth of the market.
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- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
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- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
- Includes Updated List of table & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Markets’s Key Understanding from the Report
- The speedily growing increase of preventive healthcare covering the globe because of the escalation in the number of consumers becoming growingly conscious of its advantages and the surfacing of genetic testing in preventive healthcare for the impactful recognition of several sparse illnesses are major elements anticipated to drive the global market.
- The market is primarily segmented based on category, application, and region.
- North America dominated the global market in 2022.
Market Growth Drivers and Trends
- The market is encountering speedy growth pushed by notable progressions in DNA testing technology and the growing availability of genetic information. The genealogy products & services market size is expanding due to the obtainability of progressive at-home testing kits, which has rendered it suitable and economical for persons to expose comprehensive insights into their ancestry and health. For instance, in June 2023, Maury Povich declared the instigation of its at-home DNA test kits named “The Results Are In.” It involves substances to garner DNA samples and directives and substances to dispatch the samples back to the lab and offer outcome in as little as one to two days.
- The boosting of online platforms and extensive internet approach has further rushed market expansion. These platforms authorize persons to research their family histories, generate panoramic family trees, and approach sizeable genealogical databases. The genealogy products & services market sales are soaring due to the simplicity of securing with distant relatives and traversing one’s heritage online, which has become a notable driver for market growth. As DNA testing technology persists to progress and as more and more people accept the occasion to traverse their genetic heritage, the market is assured for encouraging positive growth. This trend mirrors the growing gravity of personal genomics and coping with human curiosity to comprehend one’s emergence and heritage.
Prominent Players in the Market
- 23 and Me
- American Elements
- Billion Graves
- CK Life Sciences International Holdings Inc.
- K + S AG
- Living DNA
- Mitsui Co. Ltd.
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Genealogy Products & Services Market Outlook
Market value in 2022
USD 3.50 billion
Market value in 2032
USD 10.13 billion
11.2% from 2023-2032
Significant Segmental Breakdown
- The family records segment accounted for a notable market share
Based on category, the family records segment accounted for a notable market share. The genealogy products & services market demand is on the rise due to the growth of this segment market being excessively credited to an escalated aggregate of persons and families worried about maintaining their family history for their approaching and future generations. Apart from this, prominent genealogy firms are acquiring effective marketing and promotional schemes that also push regard and commitment in family records and boost the segment market growth.
- The households segment is anticipated to witness the highest growth
Based on application, the households segment is anticipated to witness the highest growth. The genealogy products & services market trends include an aggressive escalation in the aggregate of families and persons becoming highly peculiar about their ancestral root together with its escalating approval globally due to the potential to assist people associate with them they may not have known existed. Additionally, there has been a notable surge in the aggregate of genealogy websites and online platforms that have caused simpler access for households to their genealogical information; thus, the segment market is disposed to acquire notable traction soon.
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- North America: This region held the largest genealogy products & services market share due to the region’s well-advanced and accepted healthcare framework and speedy acquisition of progressive or inventive contemporary technologies in the healthcare expanse. Apart from this, the escalated obtainability of progressive as well as economical genealogy products and the increasing number of people pitching on genetic testing are also expected to promote the region’s market. For instance, as per the report produced by PubMed Central, there were 129,624 genetic tests developed and deferred to the genetic testing registry in the US as of November 2022. Two hundred labs executed 37,124 clinical tests in the US on the collective database.
- Asia Pacific: This region will grow at a rapid pace due to the existence of some of the most crowded nations, resulting in the extensive number of people developing illnesses and a growing rate of urbanization that has caused a more conscious population of the obtainability and possible advantages of genealogy products and services. For instance, as per the findings, India’s population has evolved by over 1 billion people since 1950. It is approximated to be approximately 1.4 billion people, and it is anticipated that India’s population will exceed 1.5 billion by the end of the decade.
Browse the Detail Report “Genealogy Products & Services Market Share, Size, Trends, Industry Analysis Report, By Category (Family Records, Family Trees, Forums, Cemeteries, Newspapers, Blogs, DNA Testing, Others); By Application; By Region; Segment Forecast, 2023 – 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/genealogy-products-and-services-market
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- In December 2022, RGD announced that they had added genealogical research tools to the list of their products & services, which will provide critical and useful information on a family’s history, factual evidence of the cause of death through generations, and also help in identifying the origin of family or discover unknown family members.
- In March 2023, The Strathclyde Institute for Genealogical Studies was established with the aim of providing academic excellence to create new courses & new research opportunities. The institute will also work with experts, organizations, and many other faculties to develop solutions for people who have an interest in family history.
What can the Report Help you Find?
- What is the expected industry size of the genealogy products & services market?
- Who are the top players in the market?
- Which region contributes notably towards the genealogy products & services market growth?
- What will be the expected CAGR of the market during the forecast period?
- What are the key segments in the market?
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