Genomics involves the sequencing and analysis of genomes. Genomics is also concerned with the structure, function, comparison, and evolution of genomes. Genomics Market key growth factors driving the growth of the overall genomics market include the growing demand for a rise in research activities in the field of genomics, and increasing application of genomic sequencing in the diagnostics, personalized medicine, growing investments, grants, and funds by the government.
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Complete report is now available on Genomics Market by Product and Services (Instruments/Systems, Consumables, Services), Technology (Sequencing, Microarray, PCR), Process (Library Preparation, Sequencing, Data Analysis), Application (Diagnostics) - Forecast to 2022 at www.rnrmarketresearch.com/genomics…rket-report.html
The services segment is projected to grow at the highest CAGR during the forecast period. Based on products and services, the genomics market is segmented into instruments/systems, consumables and services.
During the forecast period, the services segment is expected to grow at the highest CAGR. The increasing awareness of genomics and reducing DNA sequencing costs are expected to drive the growth of the segment.
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The global genomics market is estimated to grow at a CAGR of 10.2% from 2017 to 2022, to reach USD 23.88 billion in 2022 from 14.71 billion in 2017. The key factors driving the growth of the overall genomics market include the growing demand for rise in research activities in the field of genomics, increasing number of start-up companies, and increasing application of genomic sequencing in the diagnostics, personalized medicine, growing investments, grants, and funds by the government.
However, the high costs of genomic sequencing instruments/systems are expected to restrain the growth of this market to a certain extent during the forecast period.
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Based on application, the genomics market is segmented into diagnostics, drug discovery and development, personalized medicine, agriculture and animal research, and other applications such as bio fuels, marine research and coal mines. During the forecast period, the diagnostics market is poised to grow at the highest CAGR.
Owing to the growing applications of genomics in the diagnosis of various rare and infectious diseases this segment is expected to grow during the forecast period.
Based on end user, the genomics market is segmented into research centres, academic and government institutes, hospital and clinics, pharmaceutical and biotechnology companies, and other end users such as NGO’s. During the forecast period, hospitals and clinics are anticipated to grow at the highest CAGR.
Factors driving the growth of this segment are the increasing demand for growing availability of genetic tests, pharmacy genomics, and rising emphasis on providing personalized medicine in hospitals.
North America is expected to grow at the highest CAGR in the global genomics market during the forecast period of 2017–2022. The new pan – Canadian program, Research grants and funding by the government institutes in the US, and the US Precision Medicine Initiative are expected to drive the market growth during the forecast period.
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Break of primary participants in Genomics Market was as mentioned below:
By Company Type – Tier 1: 56%, Tier 35%, and Tier 9%
By Designation – C-level: 27%, Director Level: 15%, others: 58%
By Region – North America: 38%, Europe: 23%, Asia-Pacific: 25%, RoW: 15%
Major players of Genomics Market Report are:
The various players in the Genomics market include QIAGEN (Netherlands), Thermo Fisher Scientific (US), Bio-Rad Laboratories (US), Agilent Technologies, (US), Illumina (US), Pacific Biosciences of California (US), Eurofins Scientific (Germany), , BGI (China), GE Healthcare (UK), F. Hoffmann-La Roche (Switzerland), Oxford Nanopore Technologies (UK), and Eppendorf (Germany) among others.
Key Benefits of Genomics Market Report
This report covers the following aspects that will benefit the client:
Market segmentation on the basis of type, application, and region
Market dynamics including drivers, restraints, and opportunities
Porter’s Five Forces analysis
Profile of key players in the global Genomics market
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