The Genomics Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Genomics Market is estimated to be USD 16.47 billion in 2018 and predicted to rise to USD 26.4 billion by 2023with a CAGR of 9.9%. The market is segmented by product ( Instruments/systems, Consumables and Services) , by Technology ( Sequencing, Microarray technology, PCR, Nucleic acid extraction and other technologies) , by Process ( Library preparation, Sequencing and Imaging and Data Analysis) , by application ( Diagnostics, Drug discovery and development, Personalized medicine, Agriculture& animal research and other applications) , by end user ( Research centers, Hospitals and clinics, Pharmaceutical companies and other end users). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The global genomics market is chiefly driven by the intensifying level of competition in the global pharmaceutical industry and the increased use of genomics in research and development of new drug classes. An increased demand for genetically modified animals and plants and the constantly reducing prices of genetic procedures are also leading to significant developments in the global genomics market through a rising scope for research and innovation. The use of genomics concepts in the field of synthetic biology, to study gene sequences of plants and living organisms, is expected to leverage the progress made in the field of synthetic cells and DNAs in the near future. Such rise in applications is also expected to lead to vast traction to the global genomics market in the future. However, the high cost of genomic instruments is one of the major restraints of the market.
The report segments the market based on product, technology, process, application and end user. The various product segments of the genomics market include instruments/systems, consumables, and services. The consumables segment is expected to account for the largest share of the genomics market. This is attributed to factors such as repeated usage of consumables for the genomic experiments, increasing research programs by academic institutes and non-profit organizations. The market by technology is segmented into Sequencing, Microarray technology, PCR, Nucleic acid extraction and other technologies. Based on the various application areas of genomics, the report segments the market into diagnostics, drug discovery & development, personalized medicine, and agriculture & animal research, among others. The market by process is segmented into the library preparation, sequencing & imaging, and data analysis. Based on the end users the genomics market is segmented into research centers, academic institutes, & government institutes; hospitals & clinics; and pharmaceutical & biotechnology companies, among others. The research centers, academic institutes, and government institutes segment accounted for the largest share of the market, by end user. This largest share is attributed to the increasing research initiatives and projects in the area of genomics worldwide.
On the basis of geography, the market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Developed regions such as North America and Europe presently lead the global genomics market. The market is expected to witness the most significant development across Asia Pacific owing to strengthening economies of developing countries such as India and China.
Some of the key players in this market include Affymetrix, Inc., Agilent Technologies, BGI, Bio-Rad Laboratories Inc., GE Healthcare, Illumina Inc., Qiagen, Roche Diagnostics, Life Technologies, Cepheid.
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