North America Genomics Market Size (2021 to 2026)
The Genomics Market size in North America is predicted to be USD 6.03 billion in 2021 and is estimated to be growing at a CAGR of 9.7%, to reach USD 9.59 billion by 2026.
Genomics, the science of studying genomes and their interaction with various stimuli, has focused on extensive research and development activities in a few years. The field has witnessed a significant rise in technologies that promise a better understanding of genomes and their interaction with the environment and tools that use research results to understand the role played by genomes in the growth and survival of all organisms. It finds its application in various fields such as genomic medicine, biotechnology, anthropology, and other social sciences.
One of the major drivers of the North American market is the availability of abundant funds and many companies researching molecular biology. Genomics is being extensively used in pharmaceutical industries to develop new classes of drugs. In addition, there was a rise in the demand for genetically modified plants and animals, due to which there has been a surge in the market. With genomics being used in various industries, the market growth is expected to boost during the forecast period.
However, the high cost of genomic instruments is likely to restrain the market's growth during the forecast period.
This research report on the North American Genomics Market has been segmented & sub-segmented into the following categories:
By Product:
- Instruments/Systems
- Consumables
- Services
Based on the product, the consumables segment is expected to account for the largest share of the North American genomics market during the forecast period. This is attributed to repeated consumables usage for genomic experiments, increasing research programs by academic institutes and non-profit organizations.
By Technology:
- Sequencing
- Microarray Technology
- PCR
- Nucleic Acid Extraction
By Process:
- Library Preparation
- Sequencing
- Imaging
- Data Analysis
By Application:
- Diagnostics
- Drug Discovery & Development
- Personalized Medicine
- Agriculture & Animal Research
By End User:
- Research Centres
- Hospitals & Clinics
- Pharmaceutical Companies
Based on end-user, the research centers, academic institutes, and government institutes segment accounted for the largest share of the market. This largest share is attributed to the increasing research initiatives and projects in the area of genomics worldwide.
By Country:
- The United States
- Canada
- Rest of North America
The North American genomics market is expected to dominate the global market during the forecast period and accounted for 36.7% in 2020. The market growth is majorly driven by the availability of advanced technology in the healthcare sector, developed infrastructure, and favorable reimbursement policies. In addition, a surge in FDA regulatory approvals and changing reimbursement and usage rules are expected to accelerate the adoption of genetic testing in this region. Moreover, the U.S. and Canada dominating the Genomics market in the region.
The United States genomics market is forecasted to play a leading role in the North American genomics market during the forecast period and witnessed a significant share in the recent past. Increasing investment and funding by the government in research and development activities of genomics is projected to propel market growth. Color Genomics, Inc. completed the delivery of clinical genomics in regular care under its U.S. program in January 2020, in cooperation with NorthShore University HealthSystem. In addition, Sanford's genomics initiative, Imagenetics, has also received assistance from the firm to enhance clinical decision-making.
On the other hand, the Canadian genomics market is anticipated to witness a considerable share and contribute to the North American regional market growth. The increasing use of personalized medicine, a growing number of start-ups, and the rising number of collaborations and partnerships drive market growth.
KEY MARKET PLAYERS:
A few notable players operating in the North American 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.
- Introduction
- Market Definition
- Study Deliverables
- Base Currency, Base Year and Forecast Periods
- General Study Assumptions
- Research Methodology
- Introduction
- Research Phases
- Secondary Research
- Primary Research
- Econometric Modelling
- Expert Validation
- Analysis Design
- Study Timeline
- Overview
- Executive Summary
- Key Inferences
- Epidemology
- Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
- Market Drivers
- Market Restraints
- Key Challenges
- Current Opportunities in the Market
- Market Segmentation
- Product
- Introduction
- Instruments/systems
- Consumables
- Services
- Y-o-Y Growth Analysis, By Product
- Market Attractiveness Analysis, By Product
- Market Share Analysis, By Product
- Process
- Introduction
- Library preparation
- Sequencing and imaging
- Data Analysis
- Y-o-Y Growth Analysis, By Process
- Market Attractiveness Analysis, By Process
- Market Share Analysis, By Process
- Technology
- Introduction
- Sequencing
- Microarray technology
- PCR
- Nucleic Acid Extraction and Purification
- Other technologies
- Y-o-Y Growth Analysis, By Technology
- Market Attractiveness Analysis, By Technology
- Market Share Analysis, By Technology
- Application
- Introduction
- Diagnostics
- Cancer diagnostics
- Monogenic diagnostics
- Other diagnostic applications
- Drug discovery and development
- Personalized medicine
- Agriculture and animal research
- Other applications
- Y-o-Y Growth Analysis, By Application
- Market Attractiveness Analysis, By Application
- Market Share Analysis, By Application
- End user
- Introduction
- Research Centers, Academic Institutes, and Government Institutes
- Hospitals and clinics
- Pharmaceutical and biotechnological companies
- Other end users
- Y-o-Y Growth Analysis, By End user
- Market Attractiveness Analysis, By End user
- Market Share Analysis, By End user
- Geographical Analysis
- Introduction
- Regional Trends
- Impact Analysis
- Y-o-Y Growth Analysis
- By Geographical Area
- By Product
- By Process
- By Technology
- By Application
- By end user
- Market Attractiveness Analysis
- By Geographical Area
- By Product
- By Process
- By Technology
- By Application
- By end user
- Market Share Analysis
- By Geographical Area
- By Product
- By Process
- By Technology
- By End user
- US
- Canada
- Strategic Analysis
- PESTLE analysis
- Political
- Economic
- Social
- Technological
- Legal
- Environmental
- Porter’s Five analysis
- Bargaining Power of Suppliers
- Bargaining Power of Consumers
- Threat of New Entrants
- Threat of Substitute Products and Services
- Competitive Rivalry within the Industry
- Market Leaders' Analysis
- Affymetrix Inc.
- Overview
- Product Analysis
- Financial analysis
- Recent Developments
- SWOT analysis
- Analyst View
- Agilent Technologies
- BGI
- Bio-Rad Laboratories Inc.
- GE Healthcare
- Illumnia Inc.
- Qiagen
- Roche Diagnostics
- Life technologies
- Cepheid
- Competitive Landscape
- Market share analysis
- Merger and Acquisition Analysis
- Agreements, collaborations and Joint Ventures
- New Product Launches
- Market Outlook and Investment Opportunities
- Appendix
- List of Tables
- List of Figures
- Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
