Global Genealogy Products & Services Market Size By Application (Household and Institution), By Product (Newspaper, Blog Links, DNA Testing), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGenealogy Products And Services Market Size And Forecast
Genealogy Products And Services Market size was valued at USD 4.66 Billion in 2024 and is projected to reach USD 10.10 Billion by 2031, growing at a CAGR of 11.19% during the forecast period 2024-2031.
The technological advancements in genealogy can create new opportunities for the market to grow with a higher CAGR. The Global Genealogy Products And Services Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Genealogy Products And Services Market Definition
Genealogy? It's basically digging into your family's past – figuring out where you come from! We're talking family history, tracing your lineage, and uncovering stories. It's about more than just names and dates, though. It's about researching and exploring those historical documents to transform facts into engaging life stories. You get to understand where your ancestors lived, what their lives were like. Plus, it's a cool way to preserve ethnic traditions and family culture for future generations. Oh, and it can help you learn about your medical history and even sort out family legends from the real deal! Finally, some people even use it to assemble and publish a family history book, either for profit or just for the family members themselves.
The lack of formal records and rising curiosity about culture and heritage are some factors promoting the market. The genealogy service provider makes use of various analysis methods, including genetic analysis, comprising an oral interview, and others. It is used to collect significant information about the family in question. The collected information helps the genealogists to extract the lineage of a person’s family and its relationship with the members. This field has gained popularity in different parts of the world, which triggers the growth of the genealogy products and services market.
With surging demand for medical testing such as genetic and DNA testing in an assortment of industries, the market is experiencing strong growth. The growing awareness about genealogy is another factor that accelerates the market to grow at a pace in the forecasted period. For instance, the rise in demand for tracing the lineages in China with a significant percentage population owing to lack of records is boosting the growth. The records were destroyed during the wars in China and the Cultural Revolution.
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Global Genealogy Products And Services Market Overview
Genetic analysis is very important in creating genealogy data. Most genealogy service providers apply different genealogy analysis methods such as oral interviews of individuals, genetic analysis, and family history information, amongst others. Genetic analysis can be carried out with a sample of DNA collected from an individual. The analysis helps in studying the changes in the DNA and also collecting biological information.
Genetic analysis offers various advantages; thus, the need for genetic analysis is increasing across the world population. Genetic analysis provides potential benefits in medication and helps the caregivers and the patients to change the treatment and medical care provided to the individual as well as the family. Effective genetic analysis can also offer diagnostic information to the individual to take necessary medication or treatment.
Sadly, we're seeing more and more people in Canada struggling with cancer and heart disease. According to the Canadian Cancer Society, cancer was responsible for about 28.2% of all deaths in Canada. It's estimated that in 2021, we'll see 229,200 new cancer diagnoses, and tragically, around 84,600 people will lose their battle with the disease, according to Canadian cancer researchers. The good news is that thanks to advancements in treatments like biological drugs and chemotherapy, the cancer mortality rate is expected to decline by 37% in men and 22% in women by 2021. This highlights the importance of continued research and access to quality care.
Thus, people around the world are becoming more aware of the development of cancer and mutations in DNA. DNA testing helps in estimating the chance of developing cancer in an individual. DNA testing provides benefits for inherited cancer susceptibility syndromes. Thus, individuals can take an opportunity to understand the pattern of developing cancer and manage the cancer risks.
Furthermore, the next-generation sequencing (NGS) is the most recent development in DNA-testing technology. NGS is characterized as whole-exome sequencing and whole-genome sequencing that can be used to evaluate the entire exome or genome. Next-generation sequencing (NGS) has potential applications in evaluating individuals with a personal or family history. The NGS results can help individuals to prevent breast cancer and ovarian cancer from susceptibility to a pathogen. Therefore, technological advancements in genealogy can create new opportunities for the market to grow with a higher CAGR.
But hey, it's not all sunshine and roses! Things like big data breaches of old family records and even your genealogical data could really slow things down. Plus, DNA testing can actually mess with family and personal relationships – awkward! Finding out your DNA results can affect not just you, but other family members too. And sometimes, people just don't want to know about potential risks or genetic disorders. That kind of information can feel like a real invasion of privacy, you know? It's like, my body, my choice... my DNA, my choice to not know!
Global Genealogy Products And Services MarketSegmentation Analysis
The Global Genealogy Products And Services Market is segmented on the basis of Application, Product, and Geography.
Genealogy Products And Services Market, By Application
• Household• Institution
To Get Summarized Market Report By Application-
Based on Application, the market is bifurcated into Household and Institution. The Institution segment is accounted for the largest market share in 2021 and is projected to grow at a CAGR of 11.51% during the forecast period. Amateur genealogists usually research their own and their spouses’ ancestors. Professional genealogists can also do research for others, write books about genealogical methods, teach, and create their databases.
They could work for a company that develops software or creates materials for professionals and amateurs alike. Both attempts to comprehend not only where and when people lived, but also their lifestyles, biographies, and motives. This frequently necessitates—or leads to—a thorough understanding of antiquated laws, old political boundaries, migration patterns, and historical socioeconomic and religious conditions. Thus, the institution segment is expected to account for a larger share during the forecast period
Genealogy Products And Services Market, By Product
• Family Records, and Family Tree• Forum• Cemetery• Newspaper• Blog Links• DNA Testing• Others
Looking at the types of things people use, the genealogy market is split into areas like Family Records, Family Trees, forums, and even things like looking at old cemeteries, newspapers, blog links, DNA testing, and other related stuff. In 2021, digging into Family Records and building out Family Trees was the most popular thing to do, and it's expected to keep growing fast – maybe even the fastest, at around 13.61% each year. Why's that? Well, lots of diseases run in families. Building a family tree can help you spot potential hereditary health problems you might not even know about. Finding these issues early can mean getting treatment sooner, which could lead to a better outcome. So, tracing your family history can really help understand your health risks.
Genealogy Products And Services Market, By Geography
• North America• Europe• Asia Pacific• Rest of the World
To Get Summarized Market Report By Geography-Â
Okay, so when we look at different regions, the Global Genealogy Products And Services Market breaks down into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Right now, North America is the biggest player and it's expected to keep growing fast – we're talking an 11.82% jump each year! Why? Well, a lot of the big companies are based there, and they've got a pretty solid healthcare setup. Plus, the economy's doing well, and these companies are investing a lot. People are also getting more aware of how good treatments can help them, and that, combined with decent healthcare reimbursement options, is really helping the market take off.
Key Players
The major players in the market are Ancestry.com, MyHeritage, 23 and Me, Familysearch, Geneanet, and Others. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Genealogy Products & Services Market Infographic
Key Developments
• In November 2022, The company announced that Ancestry had acquired Geneanet, a leading French genealogy company. This acquisition enabled family history discoveries and connections for even more people around the world.
• In December 2021, MyHeritage announced the release of Genetic Groups, a long-awaited enhancement of ethnicity results on MyHeritage DNA. Genetic Groups accurately identify ancestral origins with an incredibly high-resolution of 2100 geographic regions, more than any other DNA test on the market.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Ancestry.com, MyHeritage, 23 and Me, Familysearch, Geneanet, and Others. |
| SEGMENTS COVERED | Application, Product, and Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Market Research
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