Genomics Personalized Health Global Market Report 2024

The genomics personalized health market size has grown rapidly in recent years. It will grow from $13.79 billion in 2023 to $15.97 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The growth in the historic period can be attributed to government funding and support, advancements in genomics research, a rise in chronic diseases, technological innovations, and pharmaceutical industry investments.

The genomics personalized health market size is expected to see rapid growth in the next few years. It will grow to $29.0 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The expansion projected for the forecast period can be credited to heightened healthcare investments, wider acceptance of genomics technologies, broader utilization of personalized medicine, an uptick in genetic disorders' prevalence, the enlargement of biobanks, and the increasing incidence of chronic diseases. Significant trends during this period encompass the merging with wearable technology, the proliferation of direct-to-consumer genetic testing, progressions in CRISPR and gene editing, amalgamation of genomics with digital health, and the extension of precision medicine initiatives.

The increasing interest in personalized medicine is poised to drive the expansion of the genomics personalized health market in the future. Personalized medicine, also referred to as precision medicine, revolutionizes healthcare by customizing medical interventions to suit the unique characteristics of individual patients. The surge in demand for personalized medicine stems from a transition towards preventive healthcare, enhanced treatment outcomes, heightened patient involvement and empowerment, economic advantages, and the escalating prevalence of chronic and intricate ailments. Genomics personalized health plays a pivotal role in advancing personalized medicine by harnessing individual genetic data to tailor medical interventions, spanning from preventive measures and diagnosis to treatment and monitoring. For example, in February 2024, as reported by the Personalized Medicine Coalition, a non-profit organization based in the US, the Food and Drug Administration (FDA) sanctioned 16 innovative personalized therapies for rare diseases in 2023, in contrast to six in 2022. Hence, the escalating demand for personalized medicine underpins the growth of the genomics personalized health market.

Major players in the genomics personalized health market are concentrating on pioneering product development, exemplified by the creation of next-generation sequencing benchtop sequencers, aimed at securing a competitive advantage. Next-generation sequencing (NGS) benchtop sequencers are compact, high-throughput sequencing platforms that scrutinize an individual's genetic blueprint to guide decisions and interventions in genomics personalized healthcare. For example, in December 2021, Singular Genomics Sys, a US-based life science technology firm, introduced its next-generation sequencing (NGS) G4 benchtop sequencer for commercial applications across diverse fields such as oncology and immunology research. The G4 boasts exclusive chemistry for precise sequencing, accommodating up to 16 samples simultaneously, swift operational durations, and a data output per hour up to threefold higher than other benchtop instruments. Key specifications include data output ranging from 15-400 gigabases (Gb) per run, operational durations spanning 6-19 hours, and accuracy rates of 99.6-99.9% across all kits.

In January 2022, Exact Sciences Corp., a US-based biotechnology research company, completed the acquisition of PreventionGenetics for an undisclosed sum. This strategic move was intended to enhance Exact Sciences' capabilities in cancer screening and diagnostics, with a specific focus on hereditary cancer testing, in order to further the cause of personalized healthcare and promote early cancer detection. PreventionGenetics, also based in the US, is a biotechnology research company specializing in genomics personalized health.

Major companies operating in the genomics personalized health market are F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Quest Diagnostics, Agilent Technologies Inc., Lonza Group, PerkinElmer Inc., Illumina Inc., Bio-Rad Laboratories Inc., Exact Sciences Corporation, QIAGEN N.V, Natera Inc., Adaptive Biotechnologies Corporation, Myriad Genetics Inc., NanoString Technologies Inc., Pacific Biosciences of California Inc., Personalis Inc., DNA Genotek Inc., Twist Bioscience Corporation, GRAIL Inc., Eastern Biotech and Life Sciences, INVITAE Corporation, Genetic Technologies Limited, XCode Life Sciences Private Limited, Biome Inc., BGI Genomics Co. Ltd.

North America was the largest region in the personalized health market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genomics personalized health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the genomics personalized health market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Genomics personalized health involves customizing medical care and treatments based on an individual's genomic data, taking into account their specific genetic characteristics, lifestyle choices, and environmental factors. This method utilizes progress in genomics, bioinformatics, and personalized medicine to offer more accurate and efficient healthcare solutions personalized to each person's genetic inclinations, susceptibilities, and responses to treatment.

The primary test types of genomics personalized health comprise oncology testing, infectious disease testing, orphan disease testing, autoimmune disease testing, obstetrics testing, and others. Oncology testing involves employing genetic testing methods to identify cancer and ascertain its unique attributes, utilizing technologies such as NGS platforms, RT-PCR, microarray, and genetic analyzers. These tests cater to end users such as academic research institutes, diagnostic centers, and others.

The genomics personalized health market research report is one of a series of new reports that provides genomics personalized health market statistics, including the genomics personalized health industry global market size, regional shares, competitors with genomics personalized health market share, detailed genomics personalized health market segments, market trends, and opportunities, and any further data you may need to thrive in the genomics personalized health industry. These genomics personalized health market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The genomics personalized health market consists of revenues earned by entities by providing services such as genomic sequencing, bioinformatics analysis, genetic testing, and consulting services. The market value includes the value of related goods sold by the service provider or included within the service offering. The genomics personalized health market also includes sales of DNA sequencing kits, genomic data management solutions, pharmacogenomics tests, personalized wellness and nutrition products, and companion diagnostics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.