Personalized Genomics Market Growth Accelerated by Increasing Adoption of Personalized Genetic Tests

Personalized genomics utilizes advanced genomic tools and technologies to analyze an individual's DNA to understand their genetic makeup and how it relates to their specific health characteristics and ancestry. Personalized genetic tests provide information about health predispositions, drug responses, ancestry composition and other traits. This has helped consumers gain valuable insights into their genetic risk factors, family histories, and make informed lifestyle choices. The Global Personalized Genomics Market Size is estimated to be valued at US$ 10.53 Bn in 2024 and is expected to exhibit a CAGR of 17.2% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing awareness and adoption of personalized genetic tests over the recent years have accelerated the growth of the personalized genomics market. These tests allow consumers to understand their genetic risk for certain life-threatening diseases like cancer at an early stage and take preventive measures. As such, consumers are increasingly opting for genetic screening to gain control over their health and prepare for any risk factors. Additionally, introduction of direct-to-consumer genomics services by major players at affordable prices have further aided the mass adoption of personalized genomics. This, coupled with rapid advancement in genomic technologies, is expected to drive the market growth over the forecast period.

Segment Analysis
The global personalized genomics market is segmented based on technology, application, end-use and region. Based on technology, the market is segmented into NGS (Next-generation sequencing), microarray, whole genome sequencing and whole exome sequencing. Among these, the next-generation sequencing segment is dominating the market as it is more advanced than microarray. It provides higher accuracy and resolution at lower costs.

Key Takeaways

The global personalized genomics market is expected to witness high growth.

Regional analysis: The North American region is expected to hold the largest share in the personalized genomics market during the forecast period. This is attributed to high awareness about precision medicine and increasing adoption of personalized genomics services in the United States. Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period due to rising geriatric population, increasing healthcare expenditure and growing focus on R&D activities in countries such as China and India.

Key players operating in the personalized genomics market are 23andMe, Ancestry, Mapmygenome, Helix, MyHeritage, Gene by Gene, Pathway Genomics, Veritas Genetics, Xcode, Color Genomics, Positive Biosciences, Futura Genetics, Myriad Genetics, Quest Diagnostics, Laboratory Corporation of America, Illumina, Thermo Fisher Scientific, Qiagen, Genomic Health and Nebula Genomics. 23andMe and Ancestry are leading the market as they provide direct-to-consumer genomics and genome analysis services to consumers.

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