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Genomics Personalized Health Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

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Global Genomics Personalized Health Market: Overview

Personalized genomics refers to a specialized sub-segment of the field of genomics that is concerned with the sequencing and analysis of an individual’s genome for identification of the probability of acquiring a disease or determining trait expressions. The genotype of the individual is identified with the help of techniques such as single-nucleotide polymorphism (SNP) analysis, next-generation sequencing (NGS), full genome sequencing, and partial genome sequencing. 

The field of personalized genomics has significantly evolved in the past few years and the expertise in this field is playing a key role in the development of the fields of predictive and personalized medicines. Owing to the recent developments in the area of data analytics and gene sequencing techniques, genetic testing has also become affordable and the applications of personalized genomics are rising at an encouraging pace. In the next few years, genomics personalized health is expected to transform into a highly lucrative market owing to these developments. 

Global Genomics Personalized Health Market: Trends and Opportunities

The key factors driving the market for genomics personalized health include the expanding array of application of genomic testing, their increasing affordability, and increased usage across research activities. Technological advancements in the areas of next-generation sequencing are also contributing to the positive development of the global genomics personalized health market.

However, certain factors such as the reducing costs of genomics instruments and services and the overall delay in regulatory approvals for genomics personalized health solutions and products are expected to hinder the overall growth prospects of the genomics personalized health market to a certain extent in the next few years

The key varieties of instruments used in personalized genomics include sequencing and genetic analyzers, RT-PCR, NGS platforms, and microarray. Some of the key areas of applications of genetic tests include infectious disease testing, oncology testing, autoimmune disease testing, obstetrics testing, and orphan disease testing. Services offered by companies in the genomics personalized health market include microarray services, and genomic sequencing services. 

Global Genomics Personalized Health Market: Geographical and Competitive Dynamics

From a geographical perspective, the global genomics personalized health market is presently dominated by North America, followed by Europe. North America presently accounts for the leading share in the global market owing to the high prevalence of several autoimmune and chronic disease and the high adoption of genetic testing services to diagnose these diseases. The region is presently witnessing a significant surge in cancer cases and the numbers are expected to rise at an alarming pace in the next few years. The scenario has increased the focus of the research community on novel ways of diagnosis and treating cancers, of which, genetic testing is gaining increased prominence owing to its accurate results. 

In regions such as Asia Pacific, Middle East and Africa, and Latin America, the rising demand for personalized medicines and advanced diagnostics solutions will be the key factors driving the market for genomics personalized health. In Asia Pacific, a thriving pharmaceutical industry and a significant surge in research activities in the field of genomics will also be crucial to the growth of the genomics personalized health market. 

The global genomics personalized health market presently features a high level of competition owing to the presence of several established vendors. Some of the leading companies operating in the market are Bio-Rad Laboratories, Inc., Life Technologies, Corp., InoLife Technologies, Inc., Eastern Biotech & Life Sciences, Genelex Corporation, Interleukin Genetics, Genetic Technologies Group, uBiome, Inc., Genotek, Indian Biosciences, Invitae, Illumina, Inc., QIAGEN, Roche Diagnostic, Knome, Inc., and Xcode Life Sciences.

Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.

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