Predictive Genetic Testing and Consumer/Wellness Genomics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 - 2032
The predictive genetic testing and consumer/wellness genomics market is anticipated to reach at a CAGR of 13.9% in the foreseeable years from 2022 to 2032. The broadening horizon for testing of predictive genetics as the consequence of the increasing count of partnership models in key vendors from the industry is likely to propel revenue generation opportunities in the predictive genetic testing and consumer/wellness genomics market in the coming years. Further, the newly established partnerships among companies enable them to serve with feasible end-to-end solutions to customers.
The partnerships established among research institutions and government authorities further enhance entry prospects in the realm of predictive genetic testing. In addition to this, the growth in the market is supplemented by shifting concerns of various federal regulatory bodies regarding the effectiveness of these genetic tests. The issues are likely to aid physicians and manufacturers in procedure standardization and thus bolster sales avenues in the Predictive Genetic Testing and Consumer/Wellness Genomics market.
Direct to consumer tests and predictive genetic testing is primarily implemented on NGS (next-generation sequencing) platforms. Further, the increasing rate of automation in the methodologies of sequencing and the introduction of rapid along with efficient genomic sequencing processes have been expected to bolster advancements in the predictive genetic testing and consumer/wellness genomics market.
Implementation of protocols related to NGS for the delivery of niche and fragmented solutions in the genomic value chain is projected to drive expansion opportunities in the market. Along with this, higher penetration of outsourcing solutions has further resulted in the onset of various companies that have been working to provide ‘sequencing-as-a-service’.
The players operating in the predictive genetic testing and consumer/wellness genomics market are adopting different strategies to create novel growth opportunities.
The key players profiled in the predictive genetic testing and consumer/wellness genomics market include:
North America, the Middle East & Africa, Asia Pacific, Europe, and Latin America are prominent regions that are analyzed in the research report on the predictive genetic testing and consumer/wellness genomics market. Of these, North America is likely to hold a dominating position in the market owing to the presence of various players in the region.
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