Increasing occurrence of chronic diseases and the growing demand for personalized medicine is expected to drive the demand for global telegenomics market for the forecast period.
Market players provide the telegenomics platforms to the patients through the help of high-speed internet connection and allow them to schedule virtual visits with the genetic experts. These experts can deliver counseling, education, and other guidance and can also arrange expert consultations to solve the queries of the patients. Service providers can then provide the patient's personalized plan for each patient based on the results of their particular test and can also recommend the patients about what kind of genetic tests they should order. Experts are also able to provide information about the risk for transmission of specific conditions by reviewing the genomic data and drawing a hereditary tree with the available information. The absence of telegenomics can lead to the absence of informed information decision-making about testing and patients lacking the information can order unnecessary and costly genetic tests resulting in unrequired financial loss of patients.
However, the privacy and data security concerns regarding confidential patient genomic data may restrain the global telegenomics market growth for the forecast period.
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Global telegenomics market is segmented into service, specialities, end user, regional distribution, and company. Based on the end user, the market can be divided into patients & their families, health professionals, health & pharma companies, and others. The patients & their families segment is expected to account for major global telegenomics market share for the forecast period, 2022-2026. Counselors identify the patients and the families who are prone to get infected with a genetic condition and can easily interpret information about disorders which can prove crucial for successful treatment of disease.
With the obtained data from genetic data analysis, the disease's inheritance pattern can easily recognize, and the risks of occurrence and reoccurrence of disease can be found which helps the patients to make an informed decision. Based on specialities, the market can be divided into cancer genetics, cardio genetics, proactive genetics, reproductive genetics, and others. The cancer genetics segment is expected to hold a significant market share for the next five years.
The high prevalence of cancer around the globe and the high occurrence of breast cancer due to hereditary reasons is driving the growth of the segment. Telegenomics aids in devising better cancer management strategies and helps in lowering the patient's stress level by providing appropriate information. It provides the patients with a high satisfaction level and is also cost-effective.
Genome Medical, Inc., FDNA Telehealth Services, Inc., Gene Matters LLC, IIF Management Company LLC (Illumina Ventures), InformedDNA, Invitae Corporation are the leading players operating in global telegenomics market. Service providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several telegenomics service providers are coming up with their technologically advanced offerings.
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“Telegnomics technology can be crucial for prenatal diagnosis and pharmacogenomics in patients. The occurrence of disorders such as neurofibromatosis type 1, Down's Syndrome, Turner's syndrome, and other disorders can be diagnosed in the parents or relatives and the implications of adverse effects, and the long-term impact of the birth defect information are made available to patients which helps them to make informed decisions. The adoption of telegnomics technology is still at an initial stage and the growing awareness among consumers with high-end investments for technological advancements are expected to propel the global telegenomics market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Telegenomics Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Services (On-Demand Access, Genetic Assessment, Test Ordering, Expert Follow-Up), By Specialities (Cancer Genetics, Cardio Genetics, Proactive Genetics, Reproductive Genetics, Others), By End User (Patients & Their Families, Health Professionals, Health & Pharma Companies, Others) and By Region” has evaluated the future growth potential of global telegenomics market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global telegenomics market.
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