Global genomics market is expected to reach USD 48.11 Billion by 2026, at a CAGR of 13.34% from 2019 to 2026. Growing institutional support for the genomic research, considerable decrease in the sequencing costs as well as emergence of new start-ups dealing in genomic research are driving the global genomics market.
Genomics is a study of the genomes of organisms. Main aim of genomics is to determine the entire sequence of DNA or the composition of the atoms that make up the DNA and the chemical bonds between the DNA atoms. Knowledge of the DNA sequence has become an integral part of biological research. Genomics is also playing a vital role in other research disciplines such as medicine, biotechnology, forensic, etc. Data collected from the genomic research has potential for enabling the physicians, biologists, and scientists to further investigate the genetic predisposition to certain diseases. Increasing research activities in the field of personalized medicines coupled with rise in the financial support for the genomic research activities are driving the global genomics market.
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- The base year for the study has been considered 2018, historic year 2016 and 2017 and, the forecast period considered is from 2019 to 2026. The global genomics market is analysed on the basis of value (USD Billion).
- The study delivers a comprehensive analysis of global genomics market by product and service, technology, application, end user, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global genomics market. This report incorporates the industry analysis which is focused on providing an extensive view of the genomics market.
- The study also includes attractiveness analysis of product and service, technology, application, end user, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the genomics market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Growing institutional support for the genomic research projects
- Significant decrease in the sequencing costs
- Increasing applications of genomics in the medicine, biotechnology, forensic sectors
- High cost of the genomic research equipment
- Future application in the personalized medicines
- Advancements in the noninvasive cancer screening techniques
- Emergence of advanced genome editing techniques
- Lack of trained technicians
- Security of large volumes of sequenced data
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region is home to world class genomic research facilities. Increase in government support for the genomic research was the primary factor propelling the North America region lead the global genomics market with USD 6.97 billion revenue in 2018. On the other hand the Asia Pacific region is anticipated to grow at an accelerated CAGR of 15.73% over the forecast period. This increased growth rate can be credited to the rising adoption of biomarkers for diagnostics purposes.
Major players in the global genomics market are Thermo Fisher Scientific, Inc., Illumina, Inc., QIAGEN N.V., Agilent Technologies, Inc., Eurofins Scientific, BGI, GE Healthcare, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Oxford Nanopore Technologies, BGI, Danaher Corporation, Eppendorf, Pacific Biosciences, Foundation Medicine, Inc., Myriad Genetics, Inc. AstraZeneca, and among others.
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