Predictive Genetic Testing and Consumer/Wellness Genomics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 - 2032

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Predictive Genetic Testing and Consumer/Wellness Genomics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 - 2032

Status : November, 2022 | Healthcare IT

Report Digest


Predictive Genetic Testing and Consumer/Wellness Genomics Market: Overview

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.

Predictive Genetic Testing and Consumer/Wellness Genomics Market: Key Trends

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’.

Predictive Genetic Testing and Consumer/Wellness Genomics Market: Competitive Dynamics and Key Developments

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:

  • Abbott Laboratories
  • 23andMe, Inc.
  • Illumina, Inc.
  • Myriad Genetics, Inc.
  • BGI
  • F.Hoffmann-La Roche Ltd
  • Agilent Technologies
  • Genesis Genetics
  • Thermo Fisher Scientific, Inc.
  • Bio-Rad Laboratories Inc.

Predictive Genetic Testing and Consumer/Wellness Genomics Market: Regional Assessment

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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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

Frequently Asked Questions

The widening horizon for testing of the predictive genetic due to increasing count of partnership models among vendors is likely to create growth avenues in the market.
North America, the Middle East & Africa, Asia Pacific, Europe, and Latin America
Implementation of NGS protocols for the delivery of niche as well as fragmented solutions across genomic value chain is estimated to fuel growth avenues in the market.
The shifting concerns of the federal regulatory bodies for efficient genetic tests are likely to attract trends in the market.