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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.
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
Payment Processing Solutions Market Size 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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