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Key Influencer in the Genomics Personalized Health Market 2025: Rising Demand For Personalized Medicine Drives Growth In Genomics Personalized Health Market Driver
Genomics Personalized Health Market
The market size of genomics personalized health has experienced swift expansion in the past few years. The projections indicate that it will rise from $15.97 billion in 2024 to $18.58 billion in 2025, with a compound annual growth rate (CAGR) of 16.4%. This growth in the past period can be credited to developments in genomic studies, governmental funding and assistance, increase in chronic diseases, advancements in technology, investments from the pharmaceutical sector, and various collaborations and partnerships.
The market size of genomics personalized health is projected to experience an upsurge in the coming years, rising to $33.6 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 16.0%. This augmentation during the projected period is attributable to a surge in healthcare investments, a growing acceptance of genomics technologies, the proliferation of personalized medicine applications, an increasing incidence of genetic disorders, biobanks expansion, and the escalating prevalence of chronic diseases. The notable trends anticipated during the forecast period are the interface with wearable technology, the rise of direct-to-consumer genetic testing, breakthroughs in CRISPR and gene editing, the consolidation of genomics with digital health, and the broadening of precision medicine initiatives.
What Are the Primary Growth Drivers for the Genomics Personalized Health Market?
Expectations for the growth of the genomics personalized health market are fueled by increasing demand for personalized medicine. Personalized or precision medicine is a healthcare approach that personalizes medical treatments and practices to the specific characteristics of each patient. The urge for such specialized healthcare can be attributed to advancements in preventive healthcare, enhanced treatment results, patient participation and empowerment, economic benefits, and the escalating prevalence of complex and chronic illnesses. By utilizing individual genetic information, genomics personalized health considerably augments personalised medicine, from prevention and diagnosis to treatment and surveillance. For example, as reported by the Personalized Medicine Coalition, a nonprofit organization based in the US, in February 2024, the Food and Drug Administration (FDA) approved 16 novel personalized therapies for patients suffering from uncommon diseases in 2023, which is a considerable growth from six in 2022. Hence, the escalating demand for personalized medicine is fueling the demand in the genomics personalized health market.
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Which Businesses Are at the Forefront of Genomics Personalized Health Market Development?
Major companies operating in the genomics personalized health market are 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.
What Are the Latest Innovations in the Genomics Personalized Health Market?
Key players in the genomics personalized health market, are putting great emphasis on the development of inventive items, such as cloud-based software meant for tertiary analysis of clinical next-generation sequencing (NGS) data, to gain an advantage in the industry. Clinical next-generation sequencing (NGS) data refers to the gene-related data produced through sequencing technologies that allow for extensive, in-depth analysis of DNA or RNA samples in a clinical environment. For instance, in March 2023, Illumina, an American biotech firm noted for its proficiency in DNA sequencing and array-based technologies, introduced Connected Insights. It's a cloud-based software meant for tertiary analysis of clinical next-generation sequencing (NGS) data. The platform's goal is to simplify the interpretation and reporting procedures, especially in oncology applications, and supports extensive genomic profiling. Connected Insights incorporates various third-party knowledge bases, allowing accurate data analysis and improving the effectiveness of precision care initiatives.
How Is the Genomics Personalized Health Market Segmented?
The genomics personalized health market covered in this report is segmented -
1) By Test Type: Oncology Testing, Infectious Disease Testing, Orphan Disease Testing, Autoimmune Disease Testing, Obstetrics Testing, Other Test Type
2) By Technology: NGS platforms, RT-PCR, Microarray, Genetic Analyzers
3) By End User: Academic Research Institutes, Diagnostic Centers, Other End Users
Subsegments:
1) Oncology Testing: Cancer Genomic Profiling, Liquid Biopsy Testing, Tumor Mutational Burden Testing, Genetic Biomarker Testing
2) Infectious Disease Testing: PCR-Based Tests, Next-Generation Sequencing (NGS) Tests, Microbial Genomic Profiling
3) Orphan Disease Testing: Genetic Screening For Rare Diseases, Genetic Testing For Inherited Disorders, Targeted Gene Panels
4) Autoimmune Disease Testing: Genetic Screening For Autoimmune Conditions, Immune System Gene Profiling, HLA Typing Tests
5) Obstetrics Testing: Non-Invasive Prenatal Testing (NIPT), Genetic Screening For Birth Defects, Carrier Screening Tests
6) Other Test Type: Cardiovascular Genetic Testing, Neurological Disease Testing, Metabolic Disease Genetic Testing
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Where Is the Genomics Personalized Health Market Growth Most Prominent?
North America was the largest region in the personalized health market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genomics personalized health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Genomics Personalized Health Global Market Report?
- Market Size Analysis: Analyze the Genomics Personalized Health Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Genomics Personalized Health Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Genomics Personalized Health Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Genomics Personalized Health Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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