Genomics Market: Demand Analysis and Growth Forecast
According to a recent business publication by IndustryARC titled “Genomics Market: By Product Types (Microarray chip, Sequencers, Others); By Services (Bioinformatics, Laboratory, Others); By Technique (PCR, Electrophoresis, others); By Application (Genotyping, SNP analysis, others); (By End-User (Anthropology, Diagnostics, Others); By Geography – Forecast (2019-2025),” there were opportunities worth $16.0 billion to 16.5 billion as of 2018, and the analyst estimates the demand to grow with a CAGR of 9.2% to 10.2% during the forecasted period of 2019 to 2025.
Genomics is the sequencing and analysis of genome that uses DNA sequencing and bioinformatics for assembling and analyzing the genome functions. Genomics market is undoubtedly influenced by global health imbalance, which is substantially divided into small and mid-size companies. Genomics is involved in determining complete DNA, DNA sequencing, and genesis mapping to understand diseases. According to the World Health Organization, Low- to middle-income countries account for 85% of the world’s population and 92% of the global burden of disease. Pharmaceutical companies are highly influenced by the genomics market for value chain. These companies can reduce cost by using genomics information that helps them in making better decisions. Considering achieving the global health goals by the government, the global health inequalities are to be brought down by providing the efficient and cost-effective initiative to the developing countries. The government is aiming at raising awareness of genomics amongst people that aren’t aware of it. This will eventually popularize the effectiveness of genomics and drive growth in the genomics market.
Browse 66 Market Tables, 177 Figures spread through 163 slides and an in-depth TOC “Genomics Market (2019 - 2025)”
Genomics Market: Leading Segment
North America is currently home for genomics market. The market is gaining tremendous revenue due to huge development in vaccines and drugs. Genomics is widely used in biotechnology, healthcare, agriculture, and diagnostics in North America due to which the North American region is flourishing with the regional genomics market share of nearly 39% to 40%. The drug discovery application of genomics is estimated to have a CAGR of 10.1% to 10.7% through to 2025. The country has plunge cost of series enabling the whole genome market series at a very less price.
Genomics Market: Market Trends
Since DNA sequencers are very expensive the companies are mainly focusing on developing a cost effective sequencing methods and equipment. These products improve the data quality and are very useful for various applications such as whole genome protein binding replacing the old equipment. When the circulating tumor cells in DNA die, they release fragments in the bloodstream. Many R&D companies and sectors are exploring a lot of information for the biomarkers for cancers, as these cells grow quickly and cause damage to neighboring cells. This is chiefly influencing the genomics market growth.
New technologies have boosted genomics market drastically. Biologists are launching revolutionary genomes in the market, by developing sequencing technologies which has led to high quality plant and animal genomes. The biotechnology industry has grown in the recent years and has generated good revenue. The genomic and biotech impacts the agriculture sector by improving the crop yielding quality and by developing crops that are stress tolerant. Biotechnology companies that are investing in the Asian countries are PierianDx and ScienceVision.
Genomics Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority genomics market shares are Cepheid, Inc., Affymetrix, Inc., Bio-Rad Laboratories, Inc. , Agilent Technologies, GE Healthcare, Illumina, Inc. ,, Danaher Corporation, and F. Hoffmann-La Roche.
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