Genomic personalized medicine and surgery is a novel approach to healthcare that modifies a patient's medical treatment as per genetic information. The enhanced approach is the consequence of better understanding of the human genome and strategies for using that information by physicians in medical and surgical management of their patients. These can help to identify a variety of complicated diseases and lead to the identification of more specialized treatments based on genomic profiling, removing some conventional treatments that may fail or have adverse side effects in specific patient population. The increased spending in research & development activities linked to biomarkers is driving the global genomics personalized health market. This technique is used to detect the physiological condition of a disease in an organism.
COVID-19 Impact Analysis
- COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
- Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness a significant growth in the future, owing to the demand for vaccine and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the global genomics personalized health market.
Top Impacting Factors
High incidence of chronic various chronic diseases such as cancer and diabetes is expected to drive the demand for genomics personalized health market.
Expansion of the pharmaceutical sector and assessment & prediction of treatment response are expected to drive the growth of the market.
In addition, the genomics personalized health market is influenced by the constantly thriving molecular biology sector and innovation within the technology related to healthcare sector.
Moreover, rising geriatric population has led to the increased prevalence of different chronic diseases, which boosts the growth of the market in near future.
The augmented spending by diagnostic health care and governments is projected to return as an vital factor promoting growth of the genomics personalized health market.
Increasing research investments and technological advancements are anticipated to drive the market growth.
However, lack of awareness in emerging countries, time-consuming regulatory guidelines, data security & regulatory issues, and large data management issues hamper the market growth.
New Product Launches to Flourish the Market
- In April 2021, NorthShore Taps Sema4 launched System-Wide Genomics Program. The program will leverage predictive analytics to provide targeted treatment regimens to prevent and treat diseases at their earliest stages, when they are most treatable.
- In Feb 2021, Quantgene and Vikor Scientific partner launched Serenity Ground-breaking advancement in precision genomics personalized medicine. Liquid biopsy to detect cancer-related mutations in the blood to support early detection.
Key Benefits of the Report
- This study presents the analytical depiction of the genomics personalized health market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the genomics personalized health market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Genomics Personalized Health Market Report
- Which are the leading market players active in the genomics personalized health market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is genomics personalized health market?
- What is genomics personalized health market prediction in the future?
- Who are the leading global players in the genomics personalized health market?
- What are the current trends and predicted trends?
- What are the key benefits of the genomics personalized health market report?
Genomics Personalized Health Market Report Highlights
By Test Type
By End User
Key Market Players
Bio-Rad Laboratories Inc.,, Illumina Inc.,, INVITAE Corporation,, Genetic Technologies Limited,, QIAGEN,, Thermo Fisher Scientific Inc.,, Interleukin Genetics Inc.,, XCode Life Sciences Private Limited., DNA Genotek Inc.,, F. Hoffmann-La Roche AG,, Eastern Biotech and Life Sciences,, Lonza Group,, Biome Inc.,