Genomics Personalized Health Market is Projected to Expand Significantly at the CAGR of 14.9% between 2017 and 2024
by poojam · August 21 Ronald Jones II Youth Jersey , 2018
Global Genomics Personalized Health Market: Snapshot
The 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 marketwill 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 Vita Vea Youth Jersey , 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.
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Diagnostic Centers and Academic and Research Institutes Lead the Pack due to Growing Investments in R&D
On 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% Ali Marpet Womens Jersey , 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.
Asia Pacific to Offer Lucrative Opportunities due to Increasing Awareness about Diseases
The global genomics personalized health market has been segregated into North America, Europe Donovan Smith Womens Jersey , Asia Pacific, Latin America, and the Middle East and Africa in terms of geography. The North America genomics personalized health market accounts for major share of the global market in 2016, followed by Europe.聽 Asia Pacific is expected to grow at a faster rate due to advanced acceptance rate for innovative technology in the region. Latin America is anticipated to provide lucrative opportunities to the global manufacturers in the region due to increasing awareness and increase in healthcare expenditure, the industry will enhance the demand for genomics personalized health system in this region.
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Others reason for the market growth are expanding pharmaceutical and biotechnology companies in Mexico and Brazil has provided lucrative growth prospects for the genomics personalized health market in the region. The MEA genomics personalized health market is expected to grow at a lower rate when compared to other regions in global genomics personalized health market.
Leading players in the genomics personalized health market include are QIAGEN, Illumina, Inc. Thermo Fisher Scientific Noah Spence Womens Jersey , Inc. Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Lonza Group, INVITAE Corporation, Genetic Technologies Limited, Interleukin Genetics Inc. Vernon Hargreaves III Womens Jersey , Eastern Biotech and Life Sciences, DNA Genotek Inc. (Subsidiary of OraSure Technologies, Inc.), uBiome, Inc., and XCode Life Sciences Private Limited.
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