Genomics Market is estimated to value over USD 67.08 billion by 2027 end with a CAGR of over 18.8% during the forecast period 2020 to 2027.

The augmentation of the genomic pool data owing to research and development activities has allowed biologists, patients and physicians to further understand the predisposition of genomes to specific diseases. Applications of this pool of data is predicted to be an integral factor in the transformation of the healthcare system with reference to more effective, reliable and accurate solutions for managing diseases.

The research and healthcare community are making efforts to effectively integrate genetic information into clinical systems. Multiple clinical centres, for instance, Stanford Health Care, have taken initiatives in using the accessible information of genes in order to design a regime of personalized treatment. This aids in bridging the gap between clinical treatment and diagnosis and translational research.

Rising number of investments done by the biotechnology companies, the funding agencies and the government to speed up the research activities in genomics is predicted to have major consequences on the global genomics market growth. International bodies like Welcome Trust and NIH are providing financial backing for genetic studies, which is expected to spur the genomic research scenario in developing as well as developed economies.

The most crucial factor predicted to affect the proliferation of this market is to what extent the healthcare community will use the accessible information of genomes for personalized medicine. Scientists are combining diagnostics with the data generated from sequencing, which is an effective technique in inflating the landscape of personalized treatment.

Generating a lot of data for genomic sequencing has resulted into substantial augmentation of functional genomics. The development of technologies providing high-throughput for protein as well as gene research studies has bolstered the segment growth. The genome industry is making progress from analysing proteomes and the entire genome sequence as well as individual genes within a short span of time shows the proliferation of this segment. Integration of solutions providing high-throughput in genomics that are functioning has offered the likeability of productive drugs with lesser harmful effects. Moreover, the usage of behavioural genetics hold immense global market potential for evaluating peculiarities of particular behaviour and competitive hypotheses with respect to modules.

With the decline in the cost of gene sequencing and improvement in the provision of genetic and informatics solutions are now comprehensively available in different sectors ranging from clinical settings to small labs. Important user segments include biotechnology and pharmaceutical companies, academic and government institutes, clinics and hospitals and other end users. Amidst all these segments, the biotechnology and pharmaceutical companies accounted the largest global genomics market share due to an increase in genetic research activities that focused at development of effective drugs with fewer side effects and improving the process of drug discovery.

The Asia Pacific region is predicted to exhibit rapid growth in the upcoming years. The infrastructural development in these nations has resulted into the risen insistence for biomarkers to be used for diagnosis. The global market is projected to proliferate due to an increase in the awareness and adoption of numerous genomic technologies in the developing nations such as India and China for prognosis, detection and treatment of multiple genetic disorders for instance, cancer, diabetes and others.

Key market players include
Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Merck KGaA, Danaher Corporation, Waters Corporation, Bio-Rad Laboratories, Inc., Bruker Corporation, GE Healthcare, Perkinelmer, Inc., Luminex Corporation, Creative Proteomics, Promega Corporation.

Genomics Market Segmentation:

By Product and Service

  • Consumables
  • Systems & Software
  • Services

By Technology

  • PCR
  • Sequencing
  • Microarray
  • Nuclei Acid Extraction and Purification
  • Other Technologies

By Application

  • Diagnostics
  • Drug Discovery
  • Precision Medicine
  • Agriculture & Animal Research
  • Other Applications

By End User

  • Research Centres and Academic & Government Institutes
  • Hospitals & Clinics
  • Pharmaceutical & Biotechnology Companies
  • Other End Users

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

FutureWise Key Takeaways:

  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth

Objectives of the Study:

  • To provide with an exhaustive analysis on the global genomics market by product and service, by technology, by application, by end user and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific Latin America and Middle East & Africa
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
  • Profiling of companies to evaluate their market shares, strategies, financials and core competencie

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