The global Genomics Market size is expected to be worth around USD 94.65 billion by 2028, according to a new report by Fortune Business Insights. The global Genomics market size was valued at USD 27.81 billion in 2021 and is anticipated to grow at a CAGR of 19.4% during forecast period 2021 to 2028.
One of the key factors promoting the significance of this field of biology is its potential to manage zoonotic diseases, such as rabies, bird flu, plague, and the evident coronavirus. These diseases are life-threatening and can cause huge burdens if not monitored carefully. According to the World Health Organization, in 2020, rabies accounted for nearly 55 000 deaths in Asia and Africa.
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Industry Developments:
August 2020 – Ancestry, a privately-held genealogy company launched AncestryHealth, which comprises next-generation sequencing and screening capabilities of genes associated with diseases such as colon cancer, breast cancer, blood disorders, and heart diseases.
Market Segmentation
We have categorized the market on the basis of type, technology, application, end-user, and geography. In terms of type, the market is divided into products (instruments & software and consumables) and services. On the basis of technology, it is segmented into Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), microarray, Sanger sequencing, and others. Based on the application, it is fragmented into diagnostics, research, and others. In terms of the end-user, the market is divided into research institutes, healthcare facilities & diagnostic centers, pharmaceutical & biotechnological companies, and contract research organizations (CROs). Lastly based on the region, it is classified into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.
By Type
- Products
- Instruments & Software
- Consumables
- Services
By Technology
- Polymerase Chain Reaction (PCR)
- Next-generation Sequencing (NGS)
- Microarray
- Sanger Sequencing
- Others
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What Does the Report Offer?
The report provides a detailed analysis of the market aspects, namely, the dominant companies, end-users, and leading product types. Apart from this, it contains tangible insights into the current & upcoming market trends and highlights prominent industry developments. In addition to these factors, the report supplies a holistic understanding of the main drivers, restraints, and segments that are contributing to the growth of the market.
Regional Insights
Surging Adoption of Third-generation Sequencing to Boost Demand in North America
The market value of North America stood at USD 10.16 billion in 2020. The increasing adoption of the latest generation of sequencing is predicted to strengthen the genomics market share in the region. Another factor boosting growth is the presence of best-in-class healthcare infrastructure in the U.S. In addition, the growing inclination toward personalized therapy and treatment of diseases is anticipated to propel the demand for genomics in the region.
The rapidly surging demand for genetic sequencing and testing in China and advancements in bioinformatics in the region are some of the key factors driving the genomics market in Asia Pacific. In addition, the high interaction of people with livestock in India and China increases the risk of animal-based zoonotic diseases, further strengthening the demand for genomics in the region.
List of Key Companies Covered in the Genomics Market Report:
- Illumina, Inc. (California, U.S.)
- Thermo Fisher Scientific Inc. (Massachusetts, United States)
- Pacific Biosciences of California, Inc. (California, U.S.)
- F. Hoffmann-La Roche Ltd. (Basel, Switzerland)
- Agilent Technologies, Inc. (California, U.S.)
- Oxford Nanopore Technologies (England, U.K.)
- Danaher (Washington, D.C., U.S.)
- QIAGEN (Hilden, Germany)
- BGI (Guangdong, China)
- IntegraGen (Evry, France)
- General Electric Company (Illinois, U.S.)
- Other Players
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Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Global Genomics Market Analysis, Insights and Forecast, 2016-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Products
- Instruments & Software
- Consumables
- Services
- Products
- Market Analysis, Insights and Forecast – By Technology
- Market Analysis, Insights and Forecast – By Application
- Diagnostics
- Research
- Others
- Market Analysis, Insights and Forecast – By End User
- Research Institutes
- Healthcare Facilities & Diagnostic Centers
- Pharmaceutical & Biotechnological Companies
- Contact Research Organizations (CROs)
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Genomics Market Analysis, Insights and Forecast, 2016-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Products
- Instruments & Software
- Consumables
- Services
- Products
- Market Analysis, Insights and Forecast – By Technology
- Polymerase Chain Reaction (PCR)
- Next-generation Sequencing (NGS)
- Microarray
- Sanger Sequencing
- Others
- Market Analysis, Insights and Forecast – By Application
- Diagnostics
- Research
- Others
- Market Analysis, Insights and Forecast – By End User
- Market Analysis, Insights and Forecast – By Country
TOC Continued……
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