Genomics Personalized Health Market by Technology, Test Type, End Users & Forecast - 2024

Genomics Personalized Health Market – SnapshotThe global genomics personalized health market is primarily driven by the augmented investments in research and development activities related to biomarkers. This system is utilized in the spotting of physiological state of a specific illness in an organism. The high incidence of chronic illnesses, expansion of the pharmaceutical sector, and assessment and prediction of treatment response is likely to bolster the growth of the global genomics personalized health market in the years to come.
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In addition to that, the global genomics personalized health market is influenced by the constantly thriving molecular biology sector and innovation in the technology associated with healthcare sector. In comparison with the conventional methods, development and design of the modern day methods of testing come with multiple benefits. This factor is predicted to work in favor of the global genomics personalized health market in near future. Besides, utilizing various technologies, genomics personalized health market offers a wide variety of platforms.Technological Progress and Innovations are Estimated to Bolster Market GrowthThe augmented spending by diagnostic health care and governments is likely to come up as an important factor promoting growth of the global genomics personalized health market. Furthermore, high prevalence of various chronic diseases such as cancer, diabetes is likely to drive the demand for genomics personalized health in the years to come. Based on the type of testing, the market can be broadly categorized into the followingBesides, expansion in the pool of geriatric population has led to the increased prevalence of various chronic diseases, which is likely to bolster the growth of the global genomics personalized health market in near future.On the other hand, the market is prophesized to be impeded by the certain factors prevailing in the market. The complex regulatory framework can lead to delays in the approval of novel testing methods, which is likely to restrain growth of the market.

Oncology testing
Autoimmune disease testing
Infectious disease testing
Obstetrics testing
Orphan disease testing

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Global Genomics Personalized Health Market: SnapshotThe global market for genomics personalized health is set to create a remarkable incremental opportunity in the come years owing to rise in the biopharmaceutical and healthcare industry. The other drivers for global genomics personalized health the market are increase in prevalence of cancer, increase in geriatric population, increasing attentiveness towards health in emerging economies. Transparency Market Research estimates that the global genomics personalized health market will expand at a CAGR of 14.9% over the forecast period between 2017 and 2025. The global market is estimated to reach US$25,112.5 mn by the end of 2025 from US$7,243.0 mn in 2016.Based on technology type the market is segmented as NGS platforms, RT-PCR, microarray, genetic analyzers, and others. In 2016, the NGS platform segment under technology type held a prominent market share of over 32.0% of the global genomics personalized health market. This segment is expected to propel with high growth rate during the forecast period as compared to other segments. Its growth will be associated with introduction of highly efficient technologies and instruments by leading companies such as F. Hoffmann- La Roche, Thermo Fisher Scientific and Illumina Inc. This segment consists of the most prominent best-selling and advance sequencing products used for various genetic analysis.Buy _ Research Report Now – https://www.transparencymarketresearch.com/checkout.php?rep_id=12197&ltype=SDiagnostic Centers and Academic and Research Institutes Lead the Pack due to Growing Investments in R&DOn the basis of end users, the global genomics personalized health market is divided into academics and research institutes, diagnostic centers, and others. Diagnostic centers and academic and research institutes are the major shareholders in the genomics personalized health market with a combined share of around 88.0%, as was recorded in 2016. In April, 2017, the Institute of Medical Genetics and Pathology and Thermo Fisher Scientific at University Hospital Basel signed a strategic agreement for development and validation of next-generation sequencing (NGS)-based cancer diagnostics. Thus, the increasing research activities in the field of genomics along with increase in genetic disorders, increasing strategic alliance between market leaders, and research institutes is expected to drive these segments over the forecast period.