In the recent report by Research and Markets, the global genetic testing market is expected to grow from $4.6 billion in 2017 to $5.8 billion in 2022 with a CAGR of 11.76%. This calculation is measured by many different aspects of the industry such as, aging global population, rising incidences of genetic and hereditary diseases, growing awareness, technological advancements, etc. With genetic genealogy tests more than doubled in 2017, the genetic testing industry is one of the fastest-growing industries. Inside of this rapid-growth industry, 23andMe, Inc. is their major player.
23andMe, Inc. (23andMe) is the world’s largest personal genomics and biotechnology company, headquartered in Mountain View, California. Founded in 2006 by Chief Executive Anne Wojcicki, Linda Avey, Paul Cusenza , 23andMe has been researching and providing personal genetic information for over 12 years. The biotech giant has over 400 employees and has more than 5,000,000 customers in which 80 percent is involved in their research in genetic tests.
Some of the notable accomplishments are:
- In 2007, 23andMe became the first company to begin offering retail DNA testing services through saliva samples. A year later, their service was named Time’s Invention of the Year.
- In 2018, 23andMe named #2 Most Innovative Health Company in “50 Smartest Companies, 2017” list by MIT Technology Review.
As 23andme is a privately held company, it does not reveal its financial records. However, 23andMe has raised $250 million and the company has an estimated valuation of $1.75 billion.