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Steady Expansion Forecast for Genomics Personalized Health Market, Projected to Reach $33.6 Billion by 2029
Genomics Personalized Health Market
Genomics Personalized Health Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for genomics personalized health has seen a substantial increase in the recent years. The value is projected to escalate from $15.97 billion in 2024 to $18.58 billion in 2025, with a compound annual growth rate (CAGR) of 16.4%. The notable growth during the historic period is due to enhancements in the field of genomics research, government backing and funding, an increase in chronic diseases, technological advancements, investments by the pharmaceutical industry, as well as collaborations and partnerships.
Genomics Personalized Health Market Size Forecast: What's the Projected Valuation by 2029?
The forecast for the genomics personalized health market size is a swift expansion in the upcoming years, reaching a value of $33.6 billion by 2029 with a compound annual growth rate (CAGR) of 16.0%. This anticipated boom during the forecast period is chiefly due to factors such as a surge in healthcare investments, wider acceptance of genomics technologies, an increase in the application range of personalized medicine, a higher frequency of genetic disorders, biobanks expansion, and a rise in the prevalence of chronic illnesses. The forecast period is expected to witness trends such as pairing up with wearable technology, rise in the use of direct-to-consumer genetic testing, advancements made in CRISPR and gene editing, digital health fusing with genomics, and the broadening of precision medicine initiatives.
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What Are the Drivers Transforming the Genomics Personalized Health Market?
The increasing need for personalized medicine is anticipated to drive the genomics personalized health market's growth in the future. Personalized medicine or precision medicine is a healthcare strategy that adjusts medical treatments and practices according to each patient's distinct characteristics. The surge in demand is attributed to the shift towards preventative healthcare, enhanced treatment outcomes, increased patient involvement and economic advantages, along with the growing prevalence of chronic and complicated diseases. Personalized health genomics greatly enhances personalized medicine by using an individual's genetic information to customize medical care, from prevention and diagnosis to treatment and monitoring. As an example, in February 2024, the Personalized Medicine Coalition, a non-profit organization in the US, reported that the Food and Drug Administration (FDA) gave approval to 16 new personalized treatments for patients with rare diseases in 2023, compared to only six in 2022. Consequently, the escalating demand for personalized medicine is fueling the growth of the genomics personalized health market.
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What Long-Term Trends Will Define the Future of the Genomics Personalized Health Market?
Leading businesses in the genomics personalized health sphere are endeavoring to develop innovative items such as cloud-based software engineered for tertiary analysis of clinical next-generation sequencing (NGS) data, to bolster their market position. Clinical next-generation sequencing (NGS) data is the genetic details gathered through sequencing technologies that enable thorough, high-volume analysis of DNA or RNA samples clinically. For example, Illumina, a biotech firm from the US well known for DNA sequencing and array-based technologies, introduced Connected Insights in March 2023. This is a cloud-based application tailored for the tertiary analysis of clinical next-generation sequencing (NGS) data. The platform's goal is to simplify interpretation and reporting, particularly for oncology applications, and back comprehensive genomic profiling. Integrated within Connected Insights are various third-party databases which aid precise data analysis, thus boosting the efficiency of precision care initiatives.
Which Segments in the Genomics Personalized Health Market Offer the Most Profit Potential?
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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Which Firms Dominate the Genomics Personalized Health Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in the Genomics Personalized Health Market?
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.
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