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Evolving Market Trends In The Genomics Personalized Health Industry: Advancements In Next-Generation Sequencing (NGS) To Offer Broad Applications
Genomics Personalized Health
What Is the Expected Genomics Personalized Health Market Size During the Forecast Period?
The genomics personalized health market has grown rapidly in recent years. It will grow from $15.97 billion in 2024 to $18.58 billion in 2025, reflecting a compound annual growth rate (CAGR) of 16.4%. The historic growth is driven by advancements in genomics research, government funding and support, the rise in chronic diseases, technological innovations, investments from the pharmaceutical industry, and increased collaborations and partnerships.
The genomics personalized health market is projected to grow rapidly, reaching $33.6 billion by 2029, with a CAGR of 16.0%. This growth can be attributed to increased investments in healthcare, the expanding use of genomics technologies, the broadening scope of personalized medicine applications, rising rates of genetic disorders, the growth of biobanks, and the increasing prevalence of chronic diseases. Major trends include the integration of wearable technology, growth in direct-to-consumer genetic testing, advancements in CRISPR and gene editing, the convergence of genomics and digital health, and the expansion of precision medicine initiatives.
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What Are the High-Growth Segments in the Genomics Personalized Health Market?
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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What Key Drivers Are Expected to Influence Future Genomics Personalized Health Market Growth?
Rising interest in personalized healthcare is expected to boost the genomics personalized health market. Personalized medicine, which leverages genetic information for targeted care, is gaining traction thanks to preventive care trends, better outcomes, and chronic disease prevalence. Genomics supports this by informing decisions from diagnosis to treatment. In February 2024, the Personalized Medicine Coalition noted the FDA approved 16 personalized treatments in 2023, compared to six in 2022. Thus, growing demand for personalized care is advancing the genomics personalized health market.
Which Companies Hold the Largest Share Across Different Genomics Personalized Health Market Segments?
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 Genomics Personalized Health Market Trends Are Gaining Traction Across Different Segments?
Big players in the genomics personalized health market are prioritizing the development of inventive products like cloud-based software for advanced analysis of clinical next-generation sequencing (NGS) data, in order to get a competitive advantage. Clinical next-generation sequencing (NGS) data covers the genetic data produced from sequencing technologies that enable in-depth examination of DNA or RNA samples in a clinical context. For instance, in March 2023, Illumina, a US-based biotech firm that specializes in DNA sequencing and array-based technologies, introduced Connected Insights. This is a cloud-based software developed specifically for advanced analysis of clinical next-generation sequencing (NGS) data. The goal of this platform is to simplify the interpretation and reporting processes, especially for oncology applications, while also supporting thorough genomic profiling. Connected Insights incorporates multiple third-party information bases, ensuring accurate data analysis and improving the effectiveness of precision care initiatives.
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What Are the Emerging Geographies for The Genomics Personalized Health Market Growth?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Genomics Personalized Health Market?
2. What is the CAGR expected in the Genomics Personalized Health Market?
3. What Are the Key Innovations Transforming the Genomics Personalized Health Industry?
4. Which Region Is Leading the Genomics Personalized Health Market?
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