The global fitness genomics market is to expand with a 9.04% CAGR from 2023-2028.

FITNESS GENOMICS MARKET ANALYSIS (2023 - 2030)

The global fitness genomics market size is estimated to be growing at a CAGR of 9.04% from 2023 to 2028.

The development of the fitness genomics market can be attributed to factors such as the increasing demand for gene therapy, personalized medicare facilities, rapid rate of new drug discoveries, and growing incidence of cancer cases worldwide. Moreover, an increasing number of joint ventures, mergers, and partnerships amongst the key market players are also anticipated to have a positive impact on the fitness genomics market growth. The COVID-19 pandemic outbreak had posed several challenges to applications of fitness genomics in terms of research and therapeutics in the healthcare sector. However, some applications were of great use to mankind during the coronavirus pandemic situation to clear the way for immediate attention for designing effective diagnostic processes, effective therapeutics, and measures to curb the spread of the virus. The viral genome mutational rate (~1-2 bases per month) was computed for the validity of PCR cycle and was predicted to understand the efficacy rate of the re-purposed anti-viral treatments and thereby the vaccine development process was developed and streamlined globally.

KEY MARKET INSIGHTS:

Based on technology and application, the functional genomics segment dominated the global market with the largest revenue share of around 37.3% in 2022. The authority of the segment is attributed to research and development studies focussing to understand a specific phenotypical expression of a specific disease condition. Several gene therapies for cancers are developed on the basis of functional genomics. Single-cell RNA sequencing provides in-depth insights into levels of gene expression in each individual cell and can analyse functional fitness genomics screens. The biomarker discovery segment is anticipated to project a substantial growth rate over the forecast timeline due to the probable favorable outcomes and the level of efficacy rate offered by genomics in several diagnostic applications. Researchers worldwide are identifying and developing novel biomarkers that could possibly suggest a disease condition like a specific type of cancer.
Based on deliverables, the product segment dominates the market and accounts for a revenue share of around 69.5% of the market in 2022. The products used in fitness genomics are broadly classified into two sub-segments—instruments or systems that are essential for the synthesis and sequencing of nucleic acid sequences. The service segment is anticipated to project a considerable CAGR by 2028. The rising cost of products, the demand for the expertise required for genomics, and the aim of core operations by the end user are the primary factors driving the services segment.
Based on end-use, the pharmaceutical and biotechnology companies' segment is leading the market and accounts for a revenue share of around 43.3% in 2022. This is due to the rising demand for use of genomics in the drug discovery segment. Also, the market is augmented by novel therapeutic options available like gene editing and the need for precision and personalized medicine globally. The hospital and clinic segment anticipated to grow at a remarkable pace during the forecast timeline. Several hospitals and clinics are currently providing genomic sequencing services to patients and hospitals and are determining the use of this technology in the practice of medicine.
Based on region, North America accounts for the highest market share of 45.25% in 2022. This is due to the financial support of research institutes and pharmaceutical giants. There are emerging innovations in the region for the usage of genomics with collaborative efforts. Asia Pacific is anticipated to be the fastest-growing segment over the forecast timeline owing to the rising demand for genomics applications in diagnostics and the increasing demand for novel therapeutic drugs to curb the increased incidence of diseases in the region.
Companies playing a leading role in the global fitness genomics market profiled in this report are Agilent Technologies, Bio-Rad Laboratories, Inc., BGI Genomics, Color Genomics, Inc., Danaher Corporation, Eppendorf AG, Eurofins Scientific, F., GE Healthcare, Illumina, Inc., Oxford Nanopore Technologies, Hoffmann-La Roche Ltd, Pacific Biosciences of California, Inc. QIAGEN N.V., Quest Diagnostics Incorporated, Thermo Fisher Scientific, Myriad Genetics, Inc., Inc., 23andMe, Inc. The market is highly fragmented and the involvement of these major players is contributing greatly to the expansion of the global market size. Moreover, the increasing number of mergers and acquisitions of these players further augment the market size.

MARKET SEGMENTATION:

Application & Technology
- Functional Genomics
  - Transfection
  - Real-Time PCR
  - RNA Interference
  - Mutational Analysis
  - SNP Analysis
  - Microarray Analysis
- Epigenomics
  - Bisulfite Sequencing
  - Chromatin Immunoprecipitation (ChIP & ChIP-Seq)
  - Methylated DNA Immunoprecipitation (MeDIP)
  - High-Resolution Melt (HRM)
  - Chromatin Accessibility Assays
  - Microarray Analysis
- Pathway Analysis
  - Bead-Based Analysis
  - Microarray Analysis
  - Real-time PCR
  - Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
- Biomarker Discovery
  - Mass Spectrometry
  - Real-time PCR
  - Microarray Analysis
  - Statistical Analysis
  - Bioinformatics
  - DNA Sequencing
- Others
Deliverables
- Products
  - Instruments/Systems/Software
  - Consumables & Reagents
- Services
  - NGS-based Services
  - Core Genomics Services
  - Biomarker Translation Services
  - Computational Services
  - Others
End-use
- Clinical Research
- Academic & Government Institutes
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Other End Users