Genomic Personalized Health Market Expected to Reach US$ 25.1 Billion by 2025

Genomic personalized health refers to the detection of various pathogenic mutations in DNA or RNA samples for proper diagnosis and monitoring of chronic and infectious diseases. The global genomic personalized health market is growing at a rapid pace due to increase in the number of genetic diseases, autoimmune diseases, infectious diseases, and growing cancer cases globally. According to the National Cancer Institute estimated that 1,685,210 new cases of cancer will be diagnosed in the U.S. in 2016 and the disease will account for 595,690 deaths by 2016. National expenditure for cancer care in the U.S. stood at US$ 125 Bn in 2010 and is expected to be reach US$ 156 Bn in 2020.According to the European Union (EU) and European Economic Area (EEA), approximately 28,038 Europeans were diagnosed with HIV in 2011. Additionally, according to the World Health Organization, 78,000 Europeans were diagnosed with tuberculosis in the same year. Hence, the government of various countries emphasizes on using sensitive, rapid and specific molecular techniques to prevent such diseases. In addition, technological advancement related to molecular diagnostic method and increasing awareness of the patient population is also expected to drive the growth of genomic personalized health market globally.

The global genomic personalized health market has been segmented into five major regions:  North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America and Europe accounted for major market share in the global genomic personalized health market in 2016 due to increasing investments by government in support of genomic personalized health. Rising incidences of cancer and unhealthy lifestyle leading to severe infectious diseases is further boosting the genomic personalized health market in the region. Increase in research ,launch of technologically advance platforms and presence of a large number of manufacturers in the region are the major factors driving the growth of the genomic personalized health market in North America. In North America, U.S. had the largest market share in 2016 as cancer and infectious diseases remain a leading cause of death and social and economic disruption in the region. Other factors such as large geriatric population, rising demand for personalized medicines are expected to boost market growth in the region.

Europe was the second largest market for global molecular diagnostic market in 2016 due to factors such as significant use of genomic personalized health by means of various technologies such as polymerase chain reaction, next generation sequencing, etc. The Rest of Europe had the largest market share of global genomic personalized health market followed by Germany due to sophisticated healthcare infrastructures and large patient population base.

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The global genomic personalized health market in Asia Pacific is anticipated to expand at the fastest growth rate during the forecast period from 2017 to 2025. The initiatives taken by the government to promote health care and robust economic growth are the key driving factor responsible for growth of market in the region. Moreover, improving purchasing power, consumer awareness regarding heath issues and better disease management would also fuel the growth of genomic personalized health market in Asia Pacific. In Asia Pacific, Japan held major share in 2016 for genomic personalized health market owing to availability of good health care infrastructure and technology in country. India and China are the major contributors to the global genomic personalized health market in Asia Pacific region due to increasing incidences and prevalence of a number of diseases that require genetic diagnostic tests, and increasing government support to set up modern health care infrastructure.

The global genomic personalized health market exhibits intense competition among the existing players. The market is fragmented, characterized by the presence of both established as well as emerging companies. Major players operating in the global genomic personalized health market are QIAGEN, Illumina, Inc., Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc.,  F. Hoffmann-La Roche Ltd., Lonza Group, INVITAE Corporation, Genetic Technologies Limited, Interleukin Genetics, Inc., Eastern Biotech and Life Sciences, DNA Genotek, Inc., uBiome, Inc., XCode Life Sciences Private Limited, and others.

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