Genomics personalized health refers to using genomic information to tailor medical care and interventions to individual patients, considering their unique genetic makeup, lifestyle factors, and environmental influences. This approach leverages advancements in genomics, bioinformatics, and personalized medicine to provide more precise and effective healthcare solutions tailored to each individual’s genetic predispositions, risk factors, and treatment responses.
Sizing and Forecast
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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Segmentation & Regional Insights
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
North America was the largest region in the personalized health market in 2023. 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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Major Driver Impacting Market Growth
The growing demand for personalized medicine is expected to propel the growth of the genomics personalized health market going forward. Personalized medicine, also known as precision medicine, is an approach to healthcare that tailors medical treatment and practices to the individual characteristics of each patient. The demand for personalized medicine is due to a shift toward preventive healthcare, improved treatment outcomes, patient empowerment and engagement, economic benefits, and rising incidence of chronic and complex diseases. Genomics personalized health significantly advances personalized medicine by leveraging individual genetic information to tailor medical care, from prevention and diagnosis to treatment and monitoring. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the Food and Drug Administration (FDA) approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Therefore, the growing demand for personalized medicine is driving the demand for genomics personalized health market.
Key Industry Players
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.
The genomics personalized health market report table of contents includes:
1. Executive Summary
2. Genomics Personalized Health Market Characteristics
3. Genomics Personalized Health Market Trends And Strategies
4. Genomics Personalized Health Market – Macro Economic Scenario
5. Global Genomics Personalized Health Market Size and Growth
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32. Global Genomics Personalized Health Market Competitive Benchmarking
33. Global Genomics Personalized Health Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Genomics Personalized Health Market
35. Genomics Personalized Health Market Future Outlook and Potential Analysis
36. Appendix
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