Pune, Maharashtra -- (SBWIRE) -- 05/24/2019 -- According to a recent Fact.MR study, the genealogy products and services market is likely to be valued at over US$ 3 billion in 2019. The market is likely to continue its bullish run with a myriad of factors influencing the strategy of key players. Surging demand for genetic and DNA testing in an assortment of industries, coupled with the growing awareness about genealogy are some of the vital factors bolstering market growth. Technological advancement also remains a key influencer, as efficient data storage and retrieval become key priorities for market players.

Demand for genealogy in tracing lineage and creating family trees is on the rise with service providers using aggressive marketing techniques to draw in new consumers. Commercials promoting self-discovery through lineage tracing are increasingly finding greater appeal as they resonate with the human psychology of tracing their heritage in order to gain a sense of wider connection. Additionally, the concept is being popularized by an array of television programs such as "Who Do You Think You Are?" and features providing information about the ancestry of famous personalities and linking it to their career and life.

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According to the study, in addition to curiosity about culture and heritage, lack of formal records is also promoting the growth of the market. For instance, demand for tracing lineages in China is on the rise with a significant percentage of population eager to trace their genealogy owing to the lack of records that were destroyed during wars in China and the Cultural Revolution. The Fact.MR study finds that the family records segment is one of the largest in the genealogy products and services market, accounting for nearly 45% of total share.

The substantial reduction in the costs of DNA sequencing technology is also aiding genealogy products & services companies to find an extensive consumer base. Reduction in the size of DNA testing kits and the convenience it offers to consumers is another key cause behind the surge in demand for genealogy products & services.

DNA Testing Finding Greater Penetration in Forensics

DNA and genetic testing is gradually gaining traction in the field of forensics with sophisticated technology and sequencing techniques enabling efficient investigation. Advancement in genetic testing is allowing forensics departments to identify suspects using smaller and mixed DNA samples which, in turn, can aid in solving complex crimes. These factors are boosting the adoption of genealogy products and services in the forensics domain.

According to the Fact.MR study, concerns surrounding the misuse of genealogy products and services are creating clamor for imposing strict regulations on market functioning. Use of genealogy products and services has been linked to the creation of predictive criminal profiles which can potentially influence policing decisions. Additionally, increasing instances of police departments basing their decision on the analysis of the DNA databases created using direct-to-consumer genetic testing data is raising concerns about the system in place. These factors could potentially restrain market growth with consumers becoming increasingly aware of the drawbacks of participating in genetic testing.

The Fact.MR report tracks the genealogy products and services market for the period 2018-2024. According to the report, the genealogy products and services market is projected to grow at 11.4% CAGR through 2024.

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To deliver a seamless understanding of the Genealogy Products & Services  market, the report is divided into 18 sophisticated chapters whose snapshots are provided below.

Chapter 1 – Executive Summary
The report commences with the chapter of the executive summary which delivers brief yet affluent information of the Genealogy Products & Services  market. The chapter includes discussion on the market overview, market analysis and market recommendations regarding the Genealogy Products & Services  market derived based on Fact.MR's proprietary wheel of fortune.

Chapter 2 – Market Introduction
In the market introduction chapter, the Genealogy Products & Services  market is introduced along with the
market segmentation in the form of market taxonomy. The chapter also introduces the Genealogy Products & Services  in the market definition section.

Chapter 3 - Genealogy Products & Services  Market Background
In this chapter, macroeconomic factors, market dynamics, a complete value chain and pricing
analysis with regard to Genealogy Products & Services  market is elaborately discussed. Discussion on the
market drivers, restraints, trends and opportunities and their impact on the market forecast is also
covered in this chapter.

Chapter 4 - Global Genealogy Products & Services  Market Analysis 2013–2017 and Forecast 2018–2026
This chapter provides the Genealogy Products & Services  market size in terms of market volume and value
during the forecast period. Market analysis based on absolute $ opportunity and y-o-y growth of the Genealogy Products & Services  market is also covered in this chapter.

Chapter 5 - Global Genealogy Products & Services  Market Analysis 2013–2017 and Forecast 2018–2026,

By System Type Based on system types in the Genealogy Products & Services  market, the chapter elaborates market size of individual systems and analysis by system types and summary of this section is covered in the chapter.

Chapter 6 - Global Genealogy Products & Services  Market Analysis 2013–2017 and Forecast 2018–2026, By Application

Based on applications, Market size of individual applications, their market attractiveness analysis and summary are also covered.

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Chapter 7 - Global Genealogy Products & Services  Market Analysis 2013–2017 and Forecast 2018–2026, By End User

This chapter elaborates the segmentation of the Genealogy Products & Services  market based on end users
including independent end users, Market attractive analysis by end users is also discussed to fathom relative lucrativeness of different end users of the Genealogy Products & Services  market.

Chapter 8 - Global Genealogy Products & Services  Market Analysis 2013–2017 and Forecast 2018–2026, By Region

With the geographical perspective, the Genealogy Products & Services  market is analyzed on a total of seven regions including North America, Latin America, Europe, South East Asia & Pacific, Middle East & Africa, China and Japan. Historical data and prevailing trends in the Genealogy Products & Services  market and their influence on the global market performance is discussed in this chapter.

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