Personal Genome Testing Market is anticipated to witness a value of US$ 4,468 Million by 2032, driven by developments in Toxicogenomics and Pharmacogenomics | FMI

By 2032, the personal genome testing market is expected to be valued at US$ 4,468 million, up from US$ 1,545.5 million in 2022, growing at a CAGR of 10.1%. The growth of the market is attributed to the increasing awareness of the benefits of personal genome testing, rising demand for personalized medicine, and technological advancements in the field of genetic testing.

The need for personal genome testing is driven by advances in genetic testing as well as its widespread application in toxicogenomics and pharmacogenomics. The expansion of the personal genome testing business is encouraged by the growing use of paternity, maternity, and prenatal testing.

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Strong testing volumes requested and managed by non-geneticists have raised healthcare practitioners’ awareness of these diagnostics’ efficacy, which has accelerated the acceptance of personal genome testing.

Consumer demand for personal genome testing is rising as a result of the widespread availability of lifestyle- and nutrition-based genetic tests to support diet and lifestyle recommendations. The market share for personal genome testing is being driven by genetic testing’s accuracy and dependability as well as increased public knowledge of its advantages.

Key Takeaways from the Personal Genome Testing Market:

• The market is segmented by application into reproductive health, cancer screening, ancestry, and predictive and pre-symptomatic testing. The reproductive health segment is expected to hold the largest market share during the forecast period, owing to the increasing demand for prenatal testing and carrier screening.
• The direct-to-consumer (DTC) testing segment is expected to witness the highest growth rate during the forecast period, owing to the increasing availability of affordable and accessible DTC testing kits.
• North America is expected to remain the dominant regional market during the forecast period, owing to the high adoption of personal genome testing in the region.
• The key players in the personal genome testing market include Ancestry, 23andMe, Myriad Genetics, Illumina, and Thermo Fisher Scientific.

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The growth of the personal genome testing market is expected to be driven by the increasing demand for personalized medicine. Personalized medicine is an approach to healthcare that takes into account an individual’s genetic makeup to develop tailored treatment plans. Personal genome testing can provide insights into an individual’s risk of developing certain diseases, as well as their response to different medications. This information can be used to develop more effective and individualized treatment plans.

The personal genome testing market is still in its early stages of development, but it is rapidly growing. The increasing affordability and accessibility of DTC testing kits is expected to fuel the growth of the market in the coming years.

Key companies profiled:

• 23andMe Inc.
• Navigenics
• deCODEme
• Color Genomics Inc.
• Personal Genome Diagnostics Inc.
• Counsyl, Inc.
• Quest Diagnostics
• Gene By Gene Ltd.
• Laboratory Corporation of America Holdings
• Thermo Fisher Scientific
• QIAGEN N.V.
• Agilent Technologies, Inc.
• F. Hoffmann-La Roche Ltd.
• Bio-Rad Laboratories Inc.
• BGI, MYRIAD GENETICS, INC. (MYRIAD RBM, INC.)
• Eurofins Scientific

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Key Segments:

By Type:

• Multi-Targeted Testing
• Non-Targeted Testing
• Targeted Testing

By Application:

• Neurological Disorders
• Oncology
• Metabolic Disorders
• Autoimmune Disorders

By Region:

• North America
• Latin America
• MEA
• Asia Pacific
• Europe

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