The ultimate in personal care personalization will involve formulations practically tailored to each and every individual, if science keeps up its pace of discovery and advancement.
How big a market will that be? Already, analysts are making lofty predictions about the overall direct-to-consumer “genomics market,” which includes companies ranging from 23andMe and Ancestry.com to startups like Exploragen, who wants to sell us apps uncovering DNA-based insights into how we engage with nutrition, fitness, health, ancestry, family and even entertainment. UBS says the market, while still nebulous and undeveloped, may represent anywhere between $2 billion and $7 billion per year in sales.
About .04 percent of the world populace has taken a consumer genomics test, according to UBS’ best analysis, though four out of five U.S. residents said they knew about genomics testing, and 13 percent claimed they’d taken such a test – an estimate the analysts found inflated, possibly because people didn’t have a clear understanding of what constitutes a genomics test.
Genomics “is a very new concept to consumers,” explains UBS analyst Jonathan Groberg. “There are all kinds of reasons today to say it’s not going to be very big, but the whole point of markets is that these technologies, these applications, these business models, and people themselves, evolve.”
Taking DNAim at skin care consumers…
Yep we said it: “DNAim.” Sorry, but we couldn’t resist. Neither can the many marketers and startups rushing to get DNA-associated skin care products into the market as fast as possible.
One example? HomeDNA is an Ohio company offering a variety of DNA analysis kits for consumers claiming to provide insights into everything from weight management to joint health. Their HomeDNA Skin Care product that “examines your genetic markers (SNPs) related to skin performance,” so people can make smarter choices about skin care products. As their ad copy puts it:
HomeDNA™ Skin Care is a scientifically-based DNA test that identifies your skin’s genetic potential in seven key areas: Collagen Quality, Skin Elasticity, Fine Lines & Wrinkles, Sun Protection, Pigmentation, Skin Antioxidants, and Skin Sensitivity. Simply take the easy, at-home test and in just a few weeks, you receive a comprehensive genetic report from the lab that gives you personalized recommendations—based on your unique DNA—for the most effective topical ingredients, supplement ingredients, and professional treatments.
“Over the last five years, personal genetic testing has moved to a point where it can help consumers make meaningful choices in how they care for themselves,” said Connie Hallquist, president and CEO of DNA Diagnostics Center, producers of the product, in a story at GCI. “We recognized the opportunity to offer a skin-based DNA test that provides actionable recommendations to improve personal skin care; it is predicated on academic research that specific genes can influence skin health.”
In other words, we’re moving far beyond just figuring out what our skin’s pH balance happens to be.
How big is one-to-one skincare formulation?
It’s certainly already here, though it’s not clear what the sales figures are. There’s plenty of marketing and buzz around companies like GeneU, which has been making headlines for a few years, and newcomers such as Skinome, a startup claiming to have developed a “new customer-to-manufacturer (C2M) subscription model to reinvent the cosmetics industry.” By applying DNA sequencing to each customer, “we can use our proprietary algorithms to precisely formulate a personalized sunscreen with your name on the label.”
That may be alluring for many consumers, though their details are sketchy. The price – $49 for a 50-milliliter bottle – might seem steep, even if it’s got personalized packaging, if compared to mass-market brands. Purchasers of premium anti-aging products won’t blink at the cost, though, which is on a par with other brands in the segment. Many of them use a premium product like Skinome for facial protection and a less-expensive item for the rest of their epidermis.
If DNA-based, individually-profiled personal care products take hold with any large number of consumers, formulators and manufacturers will find themselves entering a whole new world of opportunity, one that will compel transformation of their business and production models. People have already shown they’re willing to pay for higher-quality anti-aging and personal care products, and appealing to the individuality of affluent (or even not-so-affluent) consumers is always a solid bet.
In our next post, we’ll take a look at some of the other innovators on this front, and what the true potential of DNA-based cosmetics and personal care products is for transforming the global anti-aging market.
