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Genomics Personalized Health Market Outlook Report 2024-2033 | Size, Trends, Analysis, Insights, Overview
Genomics Personalized Health Market Outlook
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According to The Business Research Company's, The genomics personalized health market size has grown rapidly in recent years. It will grow from $13.79 billion in 2023 to $15.97 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The growth in the historic period can be attributed to advancements in genomics research, government funding, and support, a rise in chronic diseases, technological innovations, pharmaceutical industry investment, collaborations, and partnerships.
The genomics personalized health market size is expected to see rapid growth in the next few years. It will grow to $29.00 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to increasing healthcare investments, growing adoption of genomics technologies, expanding applications of personalized medicine, rising prevalence of genetic disorders, expansion of biobanks, and increasing prevalence of chronic diseases. Major trends in the forecast period include integration with wearable technology, growth of direct-to-consumer genetic testing, advancements in CRISPR and gene editing, integration of genomics with digital health, and expansion of precision medicine initiatives.
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Market Drivers and Trends:
Major companies operating in the genomics personalized health market are focused on developing innovative products, such as next-generation sequencing benchtop sequencers, to gain a competitive edge in the market. Next-generation sequencing (NGS) benchtop sequencers are compact, high-throughput sequencing platforms that analyze an individual's genetic information to inform genomics personalized healthcare decisions and interventions. For instance, in December 2021, Singular Genomics Sys, a US-based life science technology company, launched its next-generation sequencing (NGS) G4 benchtop sequencer for commercial usage in various applications, such as research in oncology and immunology. The G4 features proprietary chemistry for accurate sequencing, the ability to run up to 16 samples independently, rapid run times, and up to three times more data output per hour than other benchtop instruments. Its key specifications include 15-400 gigabases (Gb) of data per run, 6-19-hour run times, and 99.6-99.9% accuracy across all kits.
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Major Key Players of the Market:
F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Quest Diagnostics, Agilent Technologies Inc., Lonza Group, PerkinElmer Inc., Illumina Inc., Bio-Rad Laboratories Inc., Exact Sciences Corporation, QIAGEN N.V, Natera Inc., Adaptive Biotechnologies Corporation, Myriad Genetics Inc., NanoString Technologies Inc., Pacific Biosciences of California Inc., Personalis Inc., DNA Genotek Inc., Twist Bioscience Corporation, GRAIL Inc., Eastern Biotech and Life Sciences, INVITAE Corporation, Genetic Technologies Limited, XCode Life Sciences Private Limited, Biome Inc., BGI Genomics Co. Ltd.
Genomics Personalized Health Market 2024 Key Insights:
• The genomics personalized health market size is expected to see rapid growth in the next few years. It will grow to $29.00 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%.
• Rising Demand For Personalized Medicine Drives Growth In Genomics Personalized Health Market
• Advancements In Next-Generation Sequencing (NGS) To Offer Broad Applications
• North America was the largest region in the personalized health market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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