Genomics Personalized Health Global Market 2024 To Reach $29.00 Billion By 2028 At Rate Of 16.1%
Genomics Personalized Health Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
The Business Research Company’s Genomics Personalized Health Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 29, 2024 /EINPresswire.com/ -- The genomics personalized health market has experienced robust growth in recent years, expanding 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.
Strong Future Growth Anticipated
The genomics personalized health market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Genomics Personalized Health Market
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.
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Major Players And Market Trends
Key players in the genomics personalized health market include F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Quest Diagnostics, Agilent Technologies Inc., Lonza Group.
Major companies operating in the genomics personalized health market are focused on developing innovative products, such as next-generation sequencing benchtop sequencers, to gain a competitive edge in the market. Next-generation sequencing (NGS) benchtop sequencers are compact, high-throughput sequencing platforms that analyze an individual's genetic information to inform genomics personalized healthcare decisions and interventions.
Segments:
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
Geographical Insights: North America Leading The Market
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.
Genomics Personalized Health Market Definition
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.
Genomics Personalized Health Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Genomics Personalized Health Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on genomics personalized health market size, genomics personalized health market drivers and trends, genomics personalized health market major players, genomics personalized health competitors' revenues, genomics personalized health market positioning, and genomics personalized health market growth across geographies. The genomics personalized health market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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