Personalized Genomics Market Growth Accelerated by Rapid Adoption of Genetic Testing

Personalized Genomics Market

 

Personalized genomics involves genetic testing to understand specific genes and DNA variations associated with an individual's health and disease risks. Genetic testing enables early detection of genetic conditions and diseases, thereby improving patient outcomes. It aids in identifying customized drug prescriptions and treatment plans suitable for the individual's genetic make-up.

The global Personalized Genomics Market is estimated to be valued at US$ 9.14 Bn in 2024 and is expected to exhibit a CAGR of 0.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rapid adoption of genetic testing has accelerated market growth for personalized genomics. Genetic testing has gained immense popularity in recent years due to increasing awareness about its benefits. It enables people to understand their risks of developing certain diseases based on their DNA makeup and take preventive measures accordingly. This is driving more individuals to opt for genetic testing and fueling the growth of the personalized genomics market.

Segment Analysis
The global Personalized Genomics Market is segmented into direct-to-consumer testing and professional testing. The direct-to-consumer testing segment currently dominates the market as these tests enable individuals to receive genetic risk assessments directly without involving a healthcare professional. The ease of use and lower costs associated with direct-to-consumer tests are driving their higher adoption.

Key Takeaways
Global Personalized Genomics Market Demand is expected to witness high growth.

Regional analysis: The North America region is currently the fastest growing market for personalized genomics due to favorable government initiatives and increasing investments in genome sequencing research.

Key players related content comprises Key players related content (Key players operating in the Personalized Genomics Market are 23andMe, Ancestry, Color, Helix, Identigene, and Xcode Life.

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