As per our research report, the global genomics market size was worth USD 16.47 billion in 2019 and forecasted to be growing at a CAGR of 9.9%, to reach USD 26.4 billion by 2024.
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, and data analysis and interpretation techniques to decode, assemble and analyze genomes. The knowledge of the complete set of DNA helps to identify specific genetic diseases, develop the best course of treatment, and contribute to precision medicine.
MARKET DRIVERS
Growing adoption of Genomics In the Identification and Treatment of Cancer is a major growth driver to the Global Genomics Market
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 for the expansion of 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 the detection of genetic diseases in carriers, which recommend detection of spinal muscular atrophy (SMA) in pregnant women.
According to the National Center for Biotechnology Information, the United States, the growth in spending on oncology (study and treatment of tumours) expects to increase between 7% and 10% per year during 2020, with a cost of universal oncology higher than $ 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 $ 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 are also to accelerate the demand of the market.
MARKET RESTRAINTS
However, improper knowledge over the utilization of specific technologies in research centres due to less training programs is a significant factor hindering the growth of the market. The high cost of the genomic research equipment and lack of trained technicians are slowly hampering the demand of the market. People diagnosed might susceptible to develop some diseases in 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 of genetics are some factors impeding the growth of the market.
RECENT MARKET DEVELOPMENTS
REPORT COVERAGE
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2018 to 2024 |
|
Base Year |
2018 |
|
Forecast Period |
2019 to 2024 |
|
Segments Covered |
By Product, Application, Technology, Process, End-User and Region |
|
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 |
|
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 has contributed a significant share to the market and is likely to display a high rate of growth during the forecast period.
Genomics Market - By Technology:
Based on technology, 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 the genomics.
Genomics Market - By Process:
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.
Genomics Market - By End User:
Based on end-users, raising funds for research and intensifying focus of research centres and key market players to develop innovative technologies and products are the contributing factors for the expansion of the genomics market.
Regional Analysis
North America dominated the global genomics market due to growing funds for research and government initiatives in genomics. It is because of increasing genetic disabilities and abnormalities, presence of sophisticated infrastructure, and governmental support for the research and development in genetics.
Europe is following North America, owing to the well-developed health sector, technological advances, along with governmental support for research and development of different tests and devices.
Asia Pacific is another primary market for genomics and is likely to display growth at high CAGR during the forecast period. The Asia Pacific witnessing the fastest growth in genomics market due to the presence of a large patient population, rapidly developing technology.
The Middle East and Africa are standing at a nascent stage. Still, they will show inclined growth in future because of growing investment by government bodies, funding agencies, and biotechnology companies anticipated to drive the market in this region.
TOP COMPANIES IN THE MARKET
Key participants dominating the Global Genomics Market profiled in this report are Affymetrix, Inc., Agilent Technologies, BGI, Bio-Rad Laboratories Inc., GE Healthcare, Illumina Inc., Qiagen, Roche Diagnostics, Life Technologies and Cepheid.
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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