Genomics Personalized Health Market Propelling Quickly To Reach USD 31.01 Billion By 2032

According to the report, the global Genomics Personalized Health market size was valued at approximately USD 9.28 billion in 2023 and is predicted to reach around USD 31.01 billion by the end of 2032, expanding at a CAGR of around 12.8% from 2024 to 2032.

This review is based on a report by Zion Market Research, titled “Genomics Personalized Health Market By Technology (NGS platforms, RT-PCR, Microarray, and Genetic Analyzers), By Test Type (Oncology Testing, Infectious Disease Testing, Autoimmune Disease Testing, and Others), By End-User (Academics & Research Institutes, Diagnostic Centers, and Others), and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2024 – 2032”

Increasing Affordability Of Healthcare To Boost The Development Of Genomics Personalized Health Market In The Years To Come

As per analysts at Zion Market Research, governments around the globe, especially in the developed countries are taking extra efforts to increase affordability of healthcare to their citizen. In line with this, they are taking favourable steps to improve the market scenario. For instance, the US government has introduced a Health Information Technology for Economic and Clinical Health (HITECH) Act, included as part of the American Recovery and Reinvestment Act of 2009 (ARRA), formalized the Office of the National Coordinator for Health Information Technology and established a funding stream for infrastructure and incentive payments to providers who adopt and use health IT in a meaningful way.

Nearly one of every four drugs FDA approved from 2014 – 2016 was a personalized medicine, and personalized medicines accounted for 27% of new drug approvals in 2016. Those numbers are a sharp increase from 2005, when personalized medicines accounted for just 5 percent of new drug approvals thus shifting Emphasis in Medicine from Reaction to Prevention, increasing patient adherence to treatment and revealing additional targeted uses for medicines and drug candidates.

Significant Development And Adoption Rate To Power The Global Genomics Personalized Health Market

North America spearheaded the global Genomics Personalized Health market in 2023 with over 40.31% share. The rising prevalence of rare diseases in the U.S. and Canada has elevated the demand for gene therapy techniques, to reduce the growth rate of rare diseases. As per the Rare Genomics Institute, 1 in 10 people suffer from rare diseases across the U.S. Also, developed countries, such as the U.S., have significant development and adoption rates of gene therapy technology due to an increase in research activities and the affordability of high-end technologies.

In addition to this, the country spends billions of dollars on healthcare infrastructure development every year and the U.S. government makes extra efforts to make healthcare affordable to everyone by offering reimbursement and incentives on some treatments, especially for cancer.

Browse the full “Genomics Personalized Health Market By Technology (NGS platforms, RT-PCR, Microarray, and Genetic Analyzers), By Test Type (Oncology Testing, Infectious Disease Testing, Autoimmune Disease Testing, and Others), By End-User (Academics & Research Institutes, Diagnostic Centers, and Others), and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2024 – 2032” Report at https://www.zionmarketresearch.com/report/genomics-personalized-health-market

The global genomics personalized health market is segmented as follows:

By Technology

• NGS platforms
• RT-PCR
• Microarray
• Genetic Analyzers

By Test Type

• Oncology Testing
• Infectious Disease Testing
• Autoimmune Disease Testing
• Others

By End-User

• Academics & Research Institutes
• Diagnostic Centers
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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