As per our research report, the global genomics market size is predicted to worth USD 29.02 billion by 2026 from USD 18.1 billion in 2021, growing at a CAGR of 9.9% during the forecast period.
Genome is the genetic material of an organism. Genomics is a discipline that analyses the function and structure of genomes. It uses various sampling, sequencing, data analysis, and interpretation techniques to decode, assemble, and analyze genomes. The complete set of DNA knowledge helps identify specific genetic diseases, develop the best course of treatment, and contribute to precision medicine.
MARKET DRIVERS:
Growing support from the governments, genomics role in developing personalized medicine, and increasing adoption of genomics in identifying and treating cancer are majorly promoting the global genomics market growth.
It contains both non-coding DNA and genes, along with chloroplastic DNA and mitochondrial DNA. Liquid biopsy solutions identify cancerous DNA mutations, allowing early detection of cancer. Several companies have begun leveraging genomics to expand liquid DNA biopsy tests to detect cancer at an early stage. The growing applications of genomics in medicine have attracted the attention of military organizations, which has resulted in a significant increase in the adoption of genetic tests in their health systems. Military professionals are implementing guidelines for detecting genetic diseases in carriers, which recommend detecting spinal muscular atrophy (SMA) in pregnant women.
According to the National Center for Biotechnology Information, the United States, the growth in oncology (study and treatment of tumors) expects to increase between 7% and 10% per year during 2020, with a universal oncology cost higher than USD 150 billion. According to the WHO, cancer is a significant cause of death worldwide, accounting for approximately 9.6 million deaths in 2018. And the total annual economic cost of cancer in the initial period of this decade was estimated at around USD 1.16 billion.
Genomics, the science of learning the interaction of genomes with various stimuli, has been the subject of numerous research and growth activities over the years. This area provides a clear understanding of the genome and the use of research results to understand the role of genomics in the growth and survival of all living organisms. The growth of the genomic dataset in research activities has allowed physicians, biologists, and patients to study genetic predisposition to certain diseases. Increasing the development of research in human genetics in various public health programs, such as consumer health programs and others, will support the growth of the Asia-Pacific market. Increasing investment from government agencies, funding agencies, and biotech companies is also to accelerate market demand.
MARKET RESTRAINTS:
However, improper knowledge over the utilization of specific technologies in research centers due to fewer training programs is a significant factor hindering the market's growth. The high cost of genomic research equipment and lack of trained technicians are slowly hampering the market demand. People diagnosed might susceptible to develop some diseases in the future.
People with genetic disorders may become under pressure not to have children as they can't pass the faulty gene to next-generation, and rigorous rules and regulations by the government overuse genetics are some factors impeding the market's growth.
Impact of covid-19 on the global genomics market:
The world health organization announced the COVID-19 as the emergence of healthcare. The pandemic has shown profound changes in healthcare. Market players have increased their research and development activities and raised investments to develop an efficient treatment for the novel coronavirus. Monitoring the genome sequence of coronavirus helps track the manner of spread virus and its effect on the human genome. The collected information can be used to develop an effective treatment of the virus. The researchers used the virus genome to track coronavirus infection's origin to develop medicine to treat the virus. However, the market is to have continuous flow in the coming years.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2020 to 2026 |
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Base Year |
2020 |
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Forecast Period |
2021 to 2026 |
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Segments Covered |
By Product, Application, Technology, Process, End-User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
This research report segmented and sub-segmented the global genomics market based on the product, application, technology, process, end-user, region.
Genomics Market - By Product:
Based on the product, the consumable segment had accounted for the leading share in the global genomics market in 2019 and is likely to display a high growth rate during the forecast period. The increasing number of patients with chronic illnesses like diabetes, cancer, and others greatly influences the demand for this segment. The prevalence of the R&D activities in the development of new drugs is escalating the growth rate of the market.
Genomics Market - By Technology:
Based on technology, the PCR segment is dominating the genomics market concerning technology owing to the significant market drivers like the adoption of PCR for DNA amplification at reduced costs, technological enhancements, and boost in research investments in genomics.
Genomics Market - By Process:
The data analysis process is expected to maximum share to the market during the forecast period based on the process. Sequencing and imaging process segments are to have growth opportunities in the coming years. The rapid adoption of the latest technologies in the laboratories and the launch of new products in favor of the common people are expanding the demand of these segments.
Genomics Market - By Application:
Based on application, the diagnostic testing segment is holding the highest share of the market. Growth in awareness among people regarding health and the increase in incidences of mortality rate due to the genetic diseases in the world is fueling the market growth. Increasing disposable income and rising expenditure on healthcare are fuelling the growth rate of the market. The personalized medicine segment is holding the highest CAGR in the market.
Genomics Market - By End User:
Based on end-users, the Hospitals and Clinics segment is having the highest shares of the market. Active participation of key market players and increasing focus on improving the infrastructure is boosting factors for expanding the genomics market. The research centers segment is in the next position in leading the dominant shares of the market. Raising funds for research and intensifying the focus of research centers and key market players to develop innovative technologies and products are the contributing factors for the expansion of the genomics market.
Genomics Market - By Region:
Geographically, the North American genomics market is forecasted to play a dominating role in the global market due to growing funds for research and government initiatives in genomics. It is because of increasing genetic disabilities and abnormalities, the presence of sophisticated infrastructure, and governmental support for the research and development in genetics. The North American market is predicted to showcase a CAGR of 9.7% between 2020 to 2025. The U.S. lead this regional market, followed by Canada.
The European genomics market follows North America, owing to the well-developed health sector, technological advances, and governmental support for research and development of different tests and devices. The European market had accounted for a substantial share in the global genomics market in 2019 and is forecasted to worth USD 7.54 Billion by 2025. The UK market is expected to grow at an aggressive rate during the forecast period.
The Asia Pacific genomics market is another primary market for genomics and is likely to display growth at a high CAGR during the forecast period. The Asia Pacific is witnessing the fastest growth in the genomics market due to the presence of a large patient population, rapidly developing technology.
The Latin American genomics market is predicted to grow at a steady rate during the forecast period. The Brazilian and Mexican genomics markets are expected to account for most of the share in this regional market between 2020 to 2025.
The Middle East and Africa genomics markets are standing at a nascent stage. Still, they will show inclined growth in the future because of growing investment by government bodies, funding agencies, and biotechnology companies anticipated to drive the market in this region.
KEY MARKET PARTICIPANTS AND SHARE INSIGHTS:
Companies playing a promising role in the global genomics market profiled in this report are Affymetrix, Inc., Agilent Technologies, BGI, Thermo Fisher Scientific, Bio-Rad Laboratories Inc., GE Healthcare, Illumina Inc., Qiagen, Roche Diagnostics, Life Technologies, and Cepheid.
Illumina Inc. and Thermo Fisher Scientific were played a prominent role in the global genomics market in 2019. Illumina Inc. acquired Pacific Biosciences in November 2018; this action has helped Illumina Inc. to further better its market share. Key strategies that the key market players have adopted in the recent past to maximize their market share are acquisitions, collaborations, regional expansion, and new product launches.
NOTABLE HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Instruments/systems
5.1.3 Consumables
5.1.4 Services
5.1.5 Y-o-Y Growth Analysis, By Product
5.1.6 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
5.2 Process
5.2.1 Introduction
5.2.2 Library prepration
5.2.3 Sequencing and imaging
5.2.4 Data Analysis
5.2.5 Y-o-Y Growth Analysis, By Process
5.2.6 Market Attractiveness Analysis, By Process
5.2.7 Market Share Analysis, By Process
5.3 Technology
5.3.1 Introduction
5.3.2 Sequencing
5.3.3 Microarray technology
5.3.4 PCR
5.3.5 Nucleic Acid Extraction and Purification
5.3.6 Other technologies
5.3.7 Y-o-Y Growth Analysis, By Technology
5.3.8 Market Attractiveness Analysis, By Technology
5.3.9 Market Share Analysis, By Technology
5.4 Application
5.4.1 Introduction
5.4.2 Diagnostics
5.4.2.1 Cancer diagnostics
5.4.2.2 Monogenic diagnostics
5.4.2.3 Other diagnostic applications
5.4.3 Drug discovery and development
5.4.4 Personalized medicine
5.4.5 Agriculture and animal research
5.4.6 Other applications
5.4.7 Y-o-Y Growth Analysis, By Application
5.4.8 Market Attractiveness Analysis, By Application
5.4.9 Market Share Analysis, By Application
5.5 End user
5.5.1 Introduction
5.5.2 Research Centers, Academic Institutes, and Government Institutes
5.5.3 Hospitals and clinics
5.5.4 Pharmaceutical and biotechnological companies
5.5.5 Other end users
5.4.6 Y-o-Y Growth Analysis, By End user
5.4.7 Market Attractiveness Analysis, By End user
5.4.8 Market Share Analysis, By End user
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Process
6.1.3.4 By Technology
6.1.3.5 By Application
6.1.3.6 By end user
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Process
6.1.4.4 By Technology
6.1.4.5 By Application
6.1.4.6 By end user
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Process
6.1.5.4 By Technology
6.1.5.5 By End user
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Affymetrix Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Agilent Technologies
8.3 BGI
8.4 Bio-Rad Laboratories Inc.
8.5 GE Healthcare
8.6 Illumnia Inc.
8.7 Qiagen
8.8 Roche Diagnostics
8.9 Life technologies
8.10 Cepheid
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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