Consumerization of genetic testing | KPMG | SG
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Consumerization of genetic testing

Consumerization of genetic testing

Perspectives from Asia

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Partner, Life Sciences; International Tax Partner

KPMG in Singapore

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Rapid technological advancement in recent years has placed affordable genetic testing in the hands of consumers and the global direct-to-consumer genetic testing (DTC-GT) market is forecast to be worth over US$1bn by 2020. However, 65% of people willing to use a DTC-GT service reported privacy as a top concern, specifically the sharing of their data with third parties such as pharmaceutical companies. There are also concerns over the accuracy of the results and subsequent recommendations or decisions taken, epidemiological considerations with regard to disease patterns and socio-economic factors, and the psychological impact.

How can DTC-GT companies address these market concerns?
 

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