Predictive Genetic Testing and Consumer Wellness Genomics Market Size Worth Around US$ 9 Billion by 2026


Acumen Research and Consulting, Recently Published Report On “Predictive Genetic Testing and Consumer Wellness Genomics Market Size, Share Report 2019-2026”.

LOS ANGELES, June 25, 2019 (GLOBE NEWSWIRE) -- he global predictive Genetic testing and consumer wellness genomics market is estimated to grow at CAGR above 13.2% over the forecast time frame 2019 to 2026 and reach the market value around USD 9 billion by 2026.

An increased understanding of the use of genetic tests to prevent genetic susceptibility before symptoms factory influences the business progression. Increased sales of these products are also driving the market due to the increasing tendency of physicians.

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Improving predictive genetic and consumer genomics kits precision is helped with the introduction of new platform in next generation gene sequencing. Market respondents are committed to adopting new product launch protocols which require minimum technical support and optimum customer satisfaction. Pharmaceutical companies are involved in various contract models for genomics suppliers, which are based on phenotypic and genotypic patient data, to disclose novel therapies. GlaxoSmithKline plc, for example, bought 23andMe client information for the development of a fresh medicine in July 2018, supporting health services focused on patients.

The services offered by predictive genetic testing and the consumer / genomics market should play a crucial part in discovering personalized therapies and medications in the last analysis. Several DTC companies worldwide give genetic testing products and services that are not primarily aimed at danger of diseases, but that provide data that is used by people in order to provide data with distinct levels of scientific validity to guide their decisions about fitness, nutrition and athlecy.

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The growing awareness of health care and population preference for a healthy lifestyle led to the growth of the predictive genetic testing and consumer / genomics market. The worldwide predictive genetic testing & consumer genomics industry is predicted to be driven over the forecast era by factors such as the enhanced attention of the government and other private regulator's towards health care, enhanced genetic testing efficiency & quality, incidence of chronic illnesses & genetic illnesses such as Parkinson's & cystic fibrosis. The growing necessity of understanding the history of one's family also pushes the worldwide market.

Key Findings

In clinical practice, high adoption rates for these products for the identification of susceptibility to disease led to the biggest proportion in this section in 2018. 

The fastest expanding of the consumer genomics segment is the result of growing knowledge of genetic testing and fresh player entry linked to direct consumer (DTC). 

The gynecology and endocrinology related research and diagnostics show a major importance for genetic susceptibility exams so that it can capture the greatest share of income. These studies allow for the identification of adenomyosis, endometriosis or postmenopausal osteoporosis prone genes and mutations.

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In breast and ovarian cancer predictive genomics are used most highly because these trials have the ability to identify mutations in BRCA in patients. 

In the years ahead, the development of MLH1 predictive exams will boost the development of MSH2 genes for colorectal cancer diagnosis. 

The segment development will increase with colorectal screening projects, like mass screening and population screening. 

Due to the existence of significant players and elevated adoption rates, North America dominated the market in 2018 with the biggest income share.

The development of such goods in the developing economies in Asia Pacific is anticipated to be significant in the next few years.

Key Players & Strategies

Some of the main market participants are Myriad Genetics, Inc 23andMe, Inc.; F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific, Inc.; Genesis Genetics; Abbott Laboratories; Agilent Technologies; BGI; Bio-Rad Laboratories Inc.; Counsyl, Inc.; Illumina, Inc.; and ARUP Laboratories. Several main players have introduced different agreements and models of cooperation between themselves and pharmaceutical producers. These partnerships help to benefit both vertical progress and consequent development.

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