Promising market, but China’s DTC genetic testing startups have to first overcome a few hurdles
- China
- 5 min read
- Apr 19, 2019
- By Hua Nan , Wang Xiao'e
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Genetic information is being used for everything from predicting health risks to personalizing exercise and dietary regimes. China represents a huge potential market for direct-to-consumer (DTC) genetic testing
In 2017, more than 15 million US consumers had their DNA analyzed through direct-to-consumer (DTC) genetic testing. The number was about 300,000 in China, a market penetration rate of only 0.03%.
Over 200 genetic testing startups have sprung up in China the past few years, including 23mofang, WeGene and Somur. And VC firms are chomping at the bit to get in on the action. In 2016, 95% of Chinese genomic startups received more than RMB 10 million in financing each.
However, in order to exploit fully the potential of the market, these startups have some significant obstacles to surmount.<...
Over 200 genetic testing startups have sprung up in China the past few years, including 23mofang, WeGene and Somur. And VC firms are chomping at the bit to get in on the action. In 2016, 95% of Chinese genomic startups received more than RMB 10 million in financing each.
However, in order to exploit fully the potential of the market, these startups have some significant obstacles to surmount.<...
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