Personalized genomics involves the use of genomic sequence information and patient's health record to understand individual variability in genes and predict individual predispositions or risks to certain diseases. Personalized genomics allows for targeted treatment and intervention strategies based on individual genomic information. With advancement in sequencing technologies, the cost of sequencing an individual's genome has reduced significantly making personalized genomic analysis affordable. This has paved way for increased adoption of personalized genomics approach for targeted diagnosis and treatment of diseases.

The global Personalized Genomics Market is estimated to be valued at US$ 9.14 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing focus on precision medicine and targeted drug development is one of the key trends driving growth of the personalized genomics market. Conventionally disease diagnosis and treatment strategies were based on symptoms and characteristics common to population. However, with personalized genomics, diseases can be diagnosed and treated basis individual patient's genetic makeup and molecular profile of disease. This allows for more effective interventions and targeted therapies. Major pharmaceutical companies are increasingly investing in development of companion diagnostics and precision medicines based on genetic insights from personalized genomics. This is expected to revolutionize medical treatments in the coming years and further propel demand for personalized genomic services.

Segment Analysis
The global personalized genomics market is dominated by the genetic testing sub segment. Genetic testing enables identification of diseases through the examination of DNA, RNA or chromosomes derived from an individual. This subsegment accounts for over 60% of the total market share as genetic testing helps diagnose, treat and prevent genetic diseases and disorders. It also plays a pivotal role in determination of ancestry and biogeographical origins.

Key Takeaways
The Global Personalized Genomics Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Personalized Genomics Market is estimated to be valued at US$ 9.14 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.

Regional analysis shows that North America currently dominates the market with over 40% share due to strong presence of leading players and adoption of personalized genomics for clinical diagnostics in the region. Asia Pacific is expected to be the fastest growing market during the forecast period supported by increasing healthcare expenditure, large patient pool and growing awareness.

Key players analysis:
Key players operating in the personalized genomics market are Harris Corporation, KeyW Corporation, Septier Communication, Digital Receiver Technology (DRT), Rayzone Group, Rohde & Schwarz, L3Harris Technologies, CellAntenna Corporation, PKI Electronic Intelligence, Shoghi Communications Ltd., Ability Computer & Software, Advanced Tactical Systems (ATS), ESD America, NovoQuad Inc., GSMK CryptoPhone.

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