New statistical study of Genomic Medicine market has been published by Absolute Markets Insights. Primary and secondary research techniques have been used to give an effective and accurate data to make an informative decision in the businesses. According to research report, this Genomic Medicine market is expected to reach CAGR by the end of this year. It is aggregated on the basis of several key factors, such as classification, specification, and applications of Genomic Medicine industries. This gives a detailed description about dynamic aspects of the businesses, such as shares, profit margin, and revenue that helps to give a basic idea of business structure.
Different internal or external driving factors have been included to give a brief understanding about growth of the companies. In addition to this, restraining factors are also mentioned to state the challenges in front of the businesses. In order to identify the global opportunities several methodologies have been listed in this report.
Top Key Players includes: Abomics Ltd, Cerecor, Inc. (Aevi Genomic Medicine, Inc.), Congenica Ltd, DEEP GENOMICS, Editas Medicine, EUROESPES, Genome Medical, Inc., Helix OpCo LLC, Parexel International Corporation, Sangamo Therapeutics, and uniQure N.V.
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In terms of revenue, the global genomic medicine market was valued at US$ 4,840.0 Bn in 2020 and is expected to reach US$ 11,785.5 Bn by 2030 growing at a CAGR of 10.5% over the forecast period. The study analyzes the market in terms of revenue across all the major regions, which has been further bifurcated into countries.
Scientists and doctors have been studying genes and hereditary conditions for several years. Currently, it is possible for someone to have a genetic test for various types of medical conditions. A blood sample is taken and minutely studied for abnormal chromosomes but as so much information is stored on the deoxyribonucleic acid (DNA), scientists only tend to look for particular disorders. According to the Aetna Inc., genomic medicine is the study of genes and their interaction with health. Genomics investigates the intricate biological details of an individual and the use of these for effective diagnosis and customized treatment. Moreover, genomics denotes the study of someone's whole genetic makeup. It's about how they relate and respond with each other and is linked with conditions that have a wider range of causes such as heart disease, diabetes, asthma, and cancer. Genomic medicine is used for advanced sequencing in cancer pharmacogenomics, rare disorder diagnosis, and for tracking of epidemics of infectious diseases. Thereby, it is expected to support the genomic medicine market growth over the forecast period.
Results from genomic studies help researchers, physicians, and patients to better understand the diseases and the underlying mechanisms. It encourages decision-making based on evidence and hence assists to improve the customized treatment regime. Genomic medicine is a type of precision medicine in which genomics, epigenomics, and other related data are used to precisely help in the individual disease diagnosis. Genomic medicine can suspect if someone is susceptible to certain diseases such as stroke, heart disease, and cancer. It might be possible that they are likely to have high cholesterol levels or they might be suffering problems with their veins. If the patients have this knowledge, they can cope up with this risk through medicines, medical intervention, or by making positive variations in their lifestyle. Hence, it is assisting in driving the growth of the genomic medicine market.
Genomic Medicine Market Segmentation:
By Component
- Gene Medicine
- Platforms & Services
By Therapeutic Area
- Oncology
- Cardiology
- Endocrinology
- Respiratory Diseases
- Rare Genetic Diseases
- Infectious Diseases
- Diabetes
- Others
By End-User
- Hospitals & Clinics
- Academic Institutes & Research Centers
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin Americ
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