Wellness Genomics Market Share, Size, Price, Trends, Growth, Analysis, Report, Forecast 2024-2032
According to a new report by Expert Market Research titled, “Wellness Genomics Global Market Size, Share, Report and Forecast 2024-2032″, the global wellness genomics market reached a value of USD 4.73 billion in 2023. Aided by increased awareness of healthcare and the changing preferences of the population for a healthier lifestyle, the market is projected to further grow at a CAGR of 15.10% between 2024 and 2032 to reach a value of USD 10.42 billion by 2032.
Wellness genomics encompasses a vast field of study that focuses on the intricate relationship between genes and individual health and wellness. This burgeoning science aids in decoding the complexities of DNA to understand individual health profiles and possible susceptibilities. As the age of personalised health is dawning, wellness genomics has solidified its stature, evolving as an indispensable tool in tailoring nutrition, fitness regimes, and overall wellness strategies to an individual’s genetic blueprint.
A prominent shift towards personalised healthcare is one of the growing wellness genomics market trends. Consumers are increasingly looking to understand their genetic predisposition to various health conditions, allergies, or nutritional needs, and adopt a lifestyle that suits their unique genetic structure. This is evident from the surge in demand for direct-to-consumer genomic tests that offer insights into nutrition, fitness, skincare, and more.
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Driving the wellness genomics market growth is the substantial investment in research and development, coupled with technological leaps in gene sequencing methods. Companies are continuously investing in advanced sequencing technologies, aiming to make genome decoding more accurate, faster, and affordable. Such advancements are paving the way for enhanced accessibility and affordability of genomics services to a broader consumer base.
The wellness genomics market demand is bolstering due to growing popularity of genetic counselling. Post genomic testing, individuals are inclining towards consultations to gain clarity on their results, comprehend the implications, and strategise their wellness journey based on expert advice. This aspect has led to the rise of numerous genetic counselling centres worldwide, aiming to guide consumers through their wellness genomics journey.
According to the wellness genomics market analysis, collaborations and partnerships between genomics firms and wellness brands are becoming increasingly prevalent. The symbiotic relationship allows wellness brands to offer products that are genetically aligned with consumer needs, be it in nutrition supplements, fitness equipment, or skincare solutions. On the other hand, genomics firms benefit by expanding their reach and commercial applications.
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Market Segmentation
The market can be divided based on type, setting type, application, and region.
Market Breakup by Type
• Predictive Testing
• Consumer Genomics
• Others
Market Breakup by Setting Type
• DTC
• Professional
Market Breakup by Application
• Breast and Ovarian Cancer Screening
• Cardiovascular Screening
• Diabetic Screening and Monitoring
• Colon Cancer Screening
• Alzheimer’s Disease
• Prostate Cancer Screening
• Orthopaedic and Musculoskeletal Screening
• Other Cancer Screening
• Other Diseases Screening
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global wellness genomics market. Some of the major players explored in the report by Expert Market Research are as follows:
• F. Hoffmann-La Roche Ltd.
• Abbott Laboratories
• Thermo Fisher Scientific, Inc.
• Agilent Technologies, Inc.
• Bio-Rad Laboratories, Inc.
• Illumina, Inc.
• QIAGEN N.V.
• Myriad Genetics, Inc.
• CooperSurgical, Inc.
• Others
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