The global personal genome testing market is on the brink of exponential growth, as per the latest market forecast revealing a substantial surge. Leading research firms project the global personal genome testing market to soar to a valuation of US$ 4,468 Million by 2032, marking a significant increase from US$ 1,545.5 Million in 2022. This trajectory signifies an impressive Compound Annual Growth Rate (CAGR) of 10.1% throughout the forecast period.
The surge in the personal genome testing market underscores the escalating demand for personalized healthcare solutions and the growing awareness and adoption of genetic testing worldwide. Personal genome testing equips individuals with insights into their genetic predispositions, facilitating informed decisions concerning health, wellness, and disease prevention.
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The factors driving this growth include technological advancements, greater accessibility to genetic testing, rising interest in personalized medicine, and the expanding scope of applications in healthcare. This surge not only signifies market expansion but also reflects a paradigm shift in how individuals approach and engage with their health and well-being.
Strong testing volumes requested and managed by non-geneticists have raised healthcare practitioners’ awareness of these diagnostics’ efficacy, which has accelerated the acceptance of personal genome testing.
Consumer demand for personal genome testing is rising as a result of the widespread availability of lifestyle- and nutrition-based genetic tests to support diet and lifestyle recommendations. The market share for personal genome testing is being driven by genetic testing’s accuracy and dependability as well as increased public knowledge of its advantages.
Key Takeaways from the Personal Genome Testing Market:
- The market is segmented by application into reproductive health, cancer screening, ancestry, and predictive and pre-symptomatic testing. The reproductive health segment is expected to hold the largest market share during the forecast period, owing to the increasing demand for prenatal testing and carrier screening.
- The direct-to-consumer (DTC) testing segment is expected to witness the highest growth rate during the forecast period, owing to the increasing availability of affordable and accessible DTC testing kits.
- North America is expected to remain the dominant regional market during the forecast period, owing to the high adoption of personal genome testing in the region.
- The key players in the personal genome testing market include Ancestry, 23andMe, Myriad Genetics, Illumina, and Thermo Fisher Scientific.
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The growth of the personal genome testing market is expected to be driven by the increasing demand for personalized medicine. Personalized medicine is an approach to healthcare that takes into account an individual’s genetic makeup to develop tailored treatment plans. Personal genome testing can provide insights into an individual’s risk of developing certain diseases, as well as their response to different medications. This information can be used to develop more effective and individualized treatment plans.
The personal genome testing market is still in its early stages of development, but it is rapidly growing. The increasing affordability and accessibility of DTC testing kits is expected to fuel the growth of the market in the coming years.
Key companies profiled:
- 23andMe Inc.
- Navigenics
- deCODEme
- Color Genomics Inc.
- Personal Genome Diagnostics Inc.
- Counsyl, Inc.
- Quest Diagnostics
- Gene By Gene Ltd.
- Laboratory Corporation of America Holdings
- Thermo Fisher Scientific
- QIAGEN N.V.
- Agilent Technologies, Inc.
- F. Hoffmann-La Roche Ltd.
- Bio-Rad Laboratories Inc.
- BGI, MYRIAD GENETICS, INC. (MYRIAD RBM, INC.)
- Eurofins Scientific
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Key Segments:
By Type:
- Multi-Targeted Testing
- Non-Targeted Testing
- Targeted Testing
By Application:
- Neurological Disorders
- Oncology
- Metabolic Disorders
- Autoimmune Disorders
By Region:
- North America
- Latin America
- MEA
- Asia Pacific
- Europe
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