Genome can be defined as set of DNAs in an organism. Genomics is a branch of science that helps to understand the functions, structure, and evolution of genes. In the recent years, there has been an increase in the usage of genomics owing to rising research activities and increase in number of initiatives to promote personalized medicine. The genomics market is also driven by increasing applications of genomics in cancer therapy and in early detection of other diseases.
The genomics market has been witnessing significant growth over the past few years owing to, owing to rise in availability of funding for research activities, increasing government initiatives in various countries, increasing adoption of personalized medicine, declining costs of sequencing, and increase in number of genomic sequencing initiatives. Factors such as rise in number of star-up companies in India and China and application of genomics in prevention & treatment of genetic diseases are expected to offer opportunities for the market growth in the years to come. However, the high costs of sequencing, data privacy and lesser availability of skilled labor are expected to restraint the market growth to a certain extent during the forecast period.
The report provides forecast and analysis of the global genomics market. It provides market overview of global genomics market in terms of revenue (in USD Mn). Furthermore, the report includes drivers, restraints, trends and opportunity of the genomics market and their impact on each country during the forecast period.
o Based on product, the market is segmented into instruments, consumables, and services
o Based on technology, the market is sectioned as PCR, sequencing, microarray, nucleic acid extraction & purification, and others
o Based on process, the genomics market is subdivided into library preparation, sequencing, and data analysis
o Based on application, the genomics market is categorized into diagnostics, drug discovery & development, precision medicine, agriculture & animal research and others
o Based on end user, the market is segmented as hospitals & clinics, academic & research centers, pharmaceutical & biotechnology companies and others
The genomics market based on the product, technology, process application, and end user is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American market is further segmented into US and Canada. The Europe market is categorized into UK, Germany, and France. The market for genomics in Asia Pacific is segmented into Japan, China, and India. The Latin American market is categorized as Mexico and Brazil. The Middle East & Africa region is classified as South Africa, Saudi Arabia, and UAE.
North America held the largest share of genomics market owing to factors such as, increasing focus of market players to expand their presence in US, availability of research funding to develop new products & applications, growth in the pharmaceutical & biotechnology industry, and initiatives such as, personalized medicine.
The genomics market for Asia Pacific includes consolidated markets for countries such as, India, China, Japan, and Rest of Asia Pacific. This region accounted for a major share in the global genomics market owing to the large population countries such as China and India, increasing focus of market players, and rising number of conferences & meetings. Genomics market in Asia Pacific is expected to grow at a CAGR of 15.0% during the forecast period.
Both primary and secondary research has been performed during the study. Secondary sources include Factiva, World Bank, and Hoovers, company annual reports, investor presentations, and publications. The key players included in the global genomics market report are
o Agilent Technologies
o Eurofins Scientific
o GE Healthcare
o Illumina, Inc.
o Oxford Nanopore Technologies
o Thermo Fisher Scientific Inc.
o F. Hoffmann-La Roche
o Bio-Rad Laboratories
o Beijing Genomics Institute
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