Genomics Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4171
Genomics Market size is projected to experience significant growth from 2019 to 2025.
The complete set of DNAs including all genes of an organism is called as genome. Genomics is the branch of biology that deals with the function, structure, mapping, evolution and editing of genomes. The influence of various genes on an organism is studied under genomics. Genes are responsible for production of proteins that maintain and regulate various functions of body. In genomics, various interpretation techniques are used for analyzing and decoding genomes.
Factor like decreasing cost of sequencing and growing number of genomics related research projects all over the world will augment the global genomics market growth in the estimation period. The rising adoption of genomics in government institutes and academics will also boost the genomics market growth over the foreseeable future.
Growing significance of biomarker in biotechnology and pharmaceutical industries is boosting the growth of the global genomics market. With advancements in pharmacogenomics and rising adoption for genomics for discovery and development of drugs, the demand for genomics will rise. Such factors will augment the genomics market over the forecast period.
Furthermore, genomics help improve the productivity of livestock and crops through genetic modifications. Genomics is also used in finding out the most effective treatment based on the genetics of the patient. Hence. The abovementioned reasons will contribute for augmenting the global genomics market growth over the estimation period.
Moreover, growing applications of sequencing in animal breeding, agriculture and human genomics along with increasing number of genomics projects and rising number of market entrants and start-ups will drive the global genomics market growth over the forecast period. Also, usage of genomics for personalized and specialized medicines will augment the market growth all over the globe. However, lack of skilled labor for conducting genomics related experimentation will restrict the market growth.
The PCR segment of the global genomics market is expected to show promising growth over the forecast period. This growth is attributed to high usage of the technique in modern molecular biology, scientific research and diagnostic medicine. PCR is used to make desired number of copies of target DNA. These reasons will augment the segmental growth.
The U.S. contributed for the largest share by country in the global genomics market. Factors such as growing adoption of genetically modified crops and rising government initiatives related to promotion of precision medicine will drive the U.S. genomics market growth. Also, high government spending on R&D of genomics will propel the market growth.
The fastest growing country is expected to be Japan in the global genomics market over the forecast period. This growth is due to rising government spending on genomics, increasing focus of government on cancer research and growing demand for genetically modified plants and animals and technological advancements in pharmaceutical and biotechnology industries. The above-mentioned factors will boost the growth of Japan genomics market.
Qiagen N.V., Thermo Fisher Scientific Inc., Agilent Technologies, Illumina Inc., Eurofins Scientific, BGI, Danaher Corporation, Bio-Rad Laboratories, GE Healthcare Inc., Eppendorf, F. Hoffmann-La Roche Ltd., and Oxford Nanopore Technologies. Strategic initiatives such as R&D, technological advancements, acquisitions and capacity expansion are undertaken by key market players to improve their market presence.
Genomics Market by Type, 2014-2025 (USD Million)
Genomics Market by Technology, 2014-2025 (USD Million)
- Nucleic Acid Extraction and Purification
Genomics Market by Application, 2014-2025 (USD Million)
- Drug Discovery and Development
- Precision Medicine
- Agriculture and Animal Research
Genomics Market by End-use, 2014-2025 (USD Million)
- Research Centers and Academic Institutes
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Qiagen N.V.
- Thermo Fisher Scientific Inc.
- Agilent Technologies
- Illumina Inc.
- Eurofins Scientific
- Danaher Corporation
- Bio-Rad Laboratories
- GE Healthcare Inc.
- F. Hoffmann-La Roche Ltd.
- Oxford Nanopore Technologies
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