New Delhi, July 01, 2024 (GLOBE NEWSWIRE) -- The global genomics personalized health market is projected to attain a valuation of US$ 57.9 billion by 2032 from US$ 17.0 billion in 2023 at a CAGR of 14.6% During the Forecast Period 2024–2032.
Genomics personalized health has experienced a significant surge in demand in recent years, driven by a confluence of technological advancements, increased public awareness, and a shift towards precision medicine. According to a report by Grand View Research, the global genomics market is projected to reach USD 82.60 billion by 2025, growing at a compound annual growth rate (CAGR) of 13.3% from 2020 to 2025. This growth is fueled by the increasing prevalence of chronic diseases, advancements in genomics technologies, and the rising adoption of personalized medicine. For instance, the application of genomics in oncology has seen a remarkable uptake, with the global market for cancer genomics projected to grow from USD 12.45 billion in 2021 to USD 35.52 billion by 2026, reflecting a CAGR of 23.5%.
Request Free Sample PDF Copy: https://www.astuteanalytica.com/request-sample/genomics-personalized-health-Market
The demand for genomics personalized health market is driven by several factors. One of the primary drivers is the escalating burden of chronic diseases, such as cancer, diabetes, and cardiovascular diseases, which require more precise and individualized treatment approaches. According to the World Health Organization, chronic diseases are responsible for approximately 71% of all deaths globally. Additionally, the decreasing cost of genome sequencing has made personalized health more accessible. The cost of sequencing a human genome has plummeted from US$ 2.7 billion in 2003 to about US$ 600 in 2023, making it feasible for a larger population to benefit from personalized health solutions. Moreover, the increasing awareness about the benefits of personalized medicine among healthcare providers and patients has further propelled the market demand.
Key technologies underpinning the genomics personalized health sector include next-generation sequencing (NGS), CRISPR-Cas9 gene editing, and bioinformatics. NGS has revolutionized genomics by allowing rapid sequencing of entire genomes, with the global NGS market expected to reach US$ 18 billion by the end of 2024. CRISPR-Cas9, a groundbreaking gene-editing technology, continues to show promise in treating genetic disorders, with over 50 clinical trials currently underway, giving a boost to the genomics personalized health market. Bioinformatics plays a critical role in interpreting vast amounts of genomic data, with the global bioinformatics market anticipated to grow to USD 19.8 billion by 2025, driven by the need for sophisticated data analysis tools.
The global response to the rise of genomics personalized health has been overwhelmingly positive, with significant investments from both public and private sectors. Governments across the world are recognizing the potential of genomics in transforming healthcare. For example, the UK has committed over GBP 200 million to the Genomics England project, aimed at sequencing 500,000 genomes by 2025. In the United States, the National Institutes of Health (NIH) has allocated USD 1.45 billion for genomics research in 2024, reflecting a 10% increase from the previous year. Additionally, pharmaceutical companies are heavily investing in genomics-based drug development, with the global genomics-based drug discovery market expected to reach USD 12.3 billion by 2025. This widespread support underscores the transformative potential of genomics personalized health in improving patient outcomes and shaping the future of medicine.
Key Findings in Global Genomics Personalized Health Market
| Market Forecast (2032) | US$ 57.9 billion |
| CAGR | 14.6% |
| Largest Region (2023) | North America (36.2%) |
| By Technology | NGS (58.6%) |
| By End User | Research and Diagnostic centers (66.0%) |
| By Test Type | Oncology Testing (42.2%) |
| Top Trends |
|
| Top Drivers |
|
| Top Challenges |
|
NGS Wave is Transforming Genomics Personalized Health Market, Set to Generate Over 58.6% Market Revenue
Next-Generation Sequencing (NGS) has emerged as the cornerstone of personalized health in genomics due to its unparalleled speed, accuracy, and cost-efficiency. NGS technology can sequence entire genomes in a matter of hours, a feat that was unimaginable a decade ago. In 2023 alone, the global NGS market was valued at $10.3 billion, with a projected growth rate of 19.1% CAGR till 2028. One of the critical factors driving this growth is the decrease in sequencing costs—from $100 million in 2001 to less than $1,000 today—making personalized genomics more accessible. Furthermore, NGS platforms have reduced error rates to 0.1%, ensuring high precision in genetic analysis, which is crucial for personalized treatment plans.
The demand for NGS in genomics personalized health market is also driven by its application in rare disease diagnosis, cancer genomics, and pharmacogenomics. In 2023, 75% of rare disease diagnoses were facilitated by NGS, leading to more accurate and timely treatments. Additionally, 90% of oncologists reported using NGS to tailor cancer therapies, highlighting its critical role in precision oncology. Pharmacogenomics has also benefited, with 60% of new drug approvals in 2023 relying on genetic information obtained through NGS. This integration of genomics into clinical practice not only enhances treatment efficacy but also reduces adverse drug reactions by 30%.
NGS's role in genomics personalized health market is further underscored by its contribution to population genomics and preventive healthcare. Large-scale projects, such as the UK Biobank and the All of Us Research Program in the US, leverage NGS to analyze genetic data from millions of individuals, offering insights into disease predisposition and population health trends. In 2023, over 5 million genomes were sequenced for these initiatives, providing a robust dataset for predictive modeling. This proactive approach enables early intervention, potentially reducing healthcare costs by 20% and improving patient outcomes. With these advancements, NGS continues to revolutionize personalized health, making it a pivotal technology in modern genomics.
Oncology Testing is Topping the Chart as Cancer Prevalence Reached 10.6 Million Case a Year, Contribute Over 42.2% Market Revenue
Oncology testing is a prime application of genomics personalized health market due to its precision in identifying specific genetic mutations driving cancer. GPH integrates genomic data to tailor treatments, enhancing efficacy and minimizing adverse effects. For instance, the application of next-generation sequencing (NGS) in oncology has revolutionized the identification of actionable mutations in over 75% of cancer patients, leading to personalized treatment plans. Moreover, studies show that personalized medicine can reduce chemotherapy use by up to 50%, significantly improving patient quality of life.
Genomics Personalized Health stands out in oncology testing through its innovative approaches and robust data analytics. GPH has been pivotal in the advancement of liquid biopsies, which detect cancer-related genetic alterations from a simple blood draw. This non-invasive method has shown a detection accuracy rate of 85% for early-stage cancers and 95% for advanced stages. Additionally, GPH's comprehensive genomic profiling tests in the genomics personalized health market cover over 500 genes, offering a detailed landscape of tumor genetics. The company’s collaboration with leading research institutions has resulted in a 40% increase in the identification of novel therapeutic targets, positioning GPH at the forefront of oncology innovation.
The impact of Genomics Personalized Health in oncology is underscored by compelling statistics. For example, personalized treatments based on genomic testing have improved survival rates by 30% in lung cancer patients and by 20% in breast cancer patients. Furthermore, the precision medicine approach has led to a 60% reduction in treatment costs for certain cancers. With over 2 million genomic tests conducted annually, GPH's influence is evident in the 80% patient satisfaction rate and the 70% success rate in treatment adjustments based on genomic insights. These figures illustrate why GPH is a leader in oncology testing, continually enhancing patient outcomes and driving forward the era of personalized cancer care.
Inquire more about this report before purchase @ https://www.astuteanalytica.com/inquire-before-purchase/genomics-personalized-health-Market
Genomics Goldmine: North America's Billion-Dollar Personalized Health Frontier
North America's unparalleled leadership in global genomics personalized health market is anchored in its substantial financial investments, advanced technological infrastructure, and innovative healthcare strategies. In 2023, the United States alone invested an impressive $43 billion in genomics research and development, with the National Institutes of Health (NIH) dedicating $3.8 billion to genomic initiatives. Private sector giants like Illumina and 23andMe also received over $1.5 billion in venture capital funding. Canada, while smaller, mirrors this commitment with $1.2 billion in federal R&D spending on genomics. This robust financial backing is further amplified by over 1,200 active clinical trials across North America, showcasing a collaborative approach between universities, research institutions, and biotech firms.
The United States is strategically positioned to lead this genomics personalized health market revolution, driven by its extensive adoption of genomic technologies in healthcare. In 2023, the U.S. conducted over 1.2 million genomic tests, marking a 25% year-on-year increase. Canada reported a 30% rise, with 300,000 tests performed. The U.S. market for Next-Generation Sequencing (NGS) technologies is currently valued at $4.2 billion, underscoring its pivotal role in personalized medicine. Government programs like the All of Us Research Program, which aims to gather genetic data from one million Americans, highlight the nation's focus on precision health. The U.S. precision medicine market is on track to reach $112 billion by 2026, reflecting the high demand for tailored health interventions.
The economic potential of the genomics personalized health industry in North America is immense. In the U.S., genomic data now influences 60% of healthcare decisions, significantly reducing adverse drug reactions by 30%. The global genomics market, expected to grow at a CAGR of 15.7% to $35.7 billion by 2027, is heavily driven by North American innovations. In Canada, the precision medicine market is projected to double from $1.5 billion in 2023 to $3.2 billion by 2027. These figures illustrate the region's ability to not only lead but also revolutionize global healthcare through genomics, making it a highly lucrative industry poised for exponential growth.
Prominent Players and Their Recent Development Shaping the Genomics Personalized Health Market
Illumina Inc.
Illumina is a leading provider of genomic sequencing and array-based solutions for genetic analysis across the global genomics personalized health market. The company offers services in molecular diagnostics, translational and consumer genomics, and oncology. Illumina is a major player in the direct-to-consumer genetic testing market and the next-generation sequencing reagents market.
Technological Developments:
- Connected Insights: In March 2023, Illumina released Connected Insights, a cloud-based software for tertiary analysis of clinical next-generation sequencing (NGS) data, enhancing comprehensive genomic studies.
Thermo Fisher Scientific Inc.
Thermo Fisher Scientific is a major player in the genomics market, providing a range of genomic technologies and solutions.
Technological Developments:
- Ion Torrent Genexus Dx Integrated Sequencer: Introduced with CE-IVD grading, this platform offers rapid, automated next-generation sequencing (NGS) with same-day results.
- Collaboration with TPMI: Partnered with the Taiwan Precision Medicine Initiative to genotype one million individuals in Taiwan, advancing large-scale genomics studies.
Roche
Roche is a key player in the genomics personalized health market, focusing on developing companion diagnostics and integrated sequencing solutions.
Technological Developments:
- AVENIO Edge System: Launched as a fully-automated, integrated sequencing solution.
- Collaboration with Janssen Biotech: Expanded collaboration to develop companion diagnostics for targeted therapies.
Invitae Corp.
Invitae offers genetic testing services for hereditary disorders, focusing on cardiology, neurology, and pediatric genetics.
Technological Developments:
- Acquisition of Ciitizen: In September 2021, Invitae acquired Ciitizen, a consumer health technology company, to expand its consumer genomics product portfolio.
Global Genomics Personalized Health Market Key Players
- F. Hoffmann-La Roche AG
- Interleukin Genetics Inc.
- Biome Inc.
- Thermo Fisher Scientific Inc.
- QIAGEN
- INVITAE Corporation
- XCode Life Sciences Private Limited
- Genetic Technologies Limited
- Eastern Biotech and Life Sciences
- Bio-Rad Laboratories Inc.
- Illumina Inc.
- Lonza Group
- DNA Genotek Inc.
- Other Prominent Players
Key Segmentation:
By Technology
- NGS platforms
- RT-PCR
- Microarray
- Genetic Analyzers
By Test Type
- Oncology Testing
- Infectious Disease Testing
- Genetic Disease Testing
- Autoimmune Disease Testing
- Others
By End Users
- Research
- Diagnostic centers
- Academics
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Request Free Customization of this report: https://www.astuteanalytica.com/inquire-before-purchase/genomics-personalized-health-Market
About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Contact Us:
Astute Analytica
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
For Sales Enquiries: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/
LinkedIn | Twitter | YouTube
