Press release
Personal Genome Testing Market: Accurate & Reliable Technology And Highly Utilized By Consumers In Healthcare Sector During 2018-2028
The personal genome is the study of sequencing and analysis of the genome of an individual. Human genome identifies and differentiates the unique set of variations in the DNA sequence, which is useful to access the genes involved in a disease. Personal genome testing has multiple clinical applications such as in cancer therapeutics and the diagnosis of childhood disorders. This application has been in practice, and the manufacturing companies are focusing on developing machines which are portable and small in size.
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The personal genome testing market operates direct-to-customer as the products are directly available to the customer online. A genome testing kit comes in a small size with a tube, removable cap, and sealable split funnel. The market highly depends on the analytical and clinical validity and is covered under the regulatory framework.
Personal Genome Testing Market: Segmentation
Personal genome testing is increasingly becoming a trend in many regions based on the personal genome test kit reliability. By personal genome testing kit potential to diagnose diseases, we can segment the market into the following application areas:
Neurological Disorders
Oncology
Metabolic Disorders
Autoimmune Disorders
Others
By personal genome test characteristics we can segment the personal genome testing market into the following:
Targeted Testing: The test is conducted for a single particular disease, the genome of a particular individual is analyzed for a particular disease
Non-Targeted Testing: The genotype is analyzed to find SNPs and focuses on multifactorial diseases and other genetic diseases.
Multi-Targeted Testing: Companies provide multi-targeted testing kits which will scan the genome for a particular set of diseases.
Personal Genome Testing Market: Dynamics
Personal genome testing market has come into highlight due to the ability of the testing in predicting chronic diseases, and low-cost health risk assessment. Personal genome testing market is growing at a rapid pace however due to criticism from the healthcare professionals regarding the lack of evidence, a utility of the product directly by consumers, and utilization of ethical data the market is highly affected. Since personal genome testing is accurate and reliable technology, it is highly utilized by consumers.
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Personal Genome Testing Market: Region-wise Outlook
Based on geography, the personal genome testing market can be segmented into five major regions: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. At present, North America holds a leading position in the personal genome testing market followed by Europe. The major driving factors which have driven the growth of the personal genome testing market in these regions are constantly increasing the prevalence of genetic diseases, and rising demand for technologically advanced medical equipment for treatment. Following North America, European countries are also anticipated to show steady growth in the personal genome testing market. In the next few years, Asia-Pacific would show remarkable growth in the personal genome testing market as it is developing at a very rapid pace and has shown the emergence of many regional players. The factors which would fuel the growth of personal genome testing market in Asia-Pacific are increasing awareness regarding various genetic disorders, increase in the number of patients getting affected with genetic disorders, and rapid development of the healthcare infrastructure across the Asian countries. Personal genome testing market would evolve at a rapid rate across the regions, however, North America would maintain its position in the overall personal genome testing market.
Personal Genome Testing Market: Key Players
It is expected that with due course of time, there will be an influx of well-established players in the personal genome testing market. Some of the top players operating in the personal genome testing market are 23andMe, Inc., Navigenics, deCODEme, Color Genomics, Inc., Personal Genome Diagnostics, Inc., Counsyl, Inc., Quest Diagnostics, Gene By Gene, Ltd., Laboratory Corporation of America® Holdings, mapmygenome.in, Positive Bioscience, Inc and many others. Personal genome testing market has a presence of many regional players which have a huge market share in emerging countries.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies
The main aim of the report is to:
Enable key stakeholder’s in the market bet right on it
Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution
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