Genomics Market

Genomics Market

New York, January 2024: According to a new research study by Global Insight Services (GIS), the Genomics Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 126.8 billion by 2033.

Genomics is the study of genes and their function. The market for genomics is expected to grow in the coming years as the technology becomes more affordable and accessible.

Products in the genomics market include sequencing, microarrays, and PCR. Sequencing is the most popular product, accounting for over half of the market share. Microarrays are used for gene expression and SNP analysis, while PCR is used for DNA amplification and sequencing.

The applications of genomics include drug discovery, disease diagnosis, and agricultural biotechnology. The drug discovery market is the largest application, accounting for over half of the market share. Genomics is also used in disease diagnosis, such as cancer, and in agricultural biotechnology, such as crop improvement.

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Global Genomics Market: Market Drivers and Trends

Genomics is an agreement between a solar energy service provider and a customer wherein the service provider agrees The key trends in the genomics market are the increasing demand for personalized medicine and the increasing funding for genomics research.

Global Genomics Market: Market Restraints and Challenges

The key restraints in the market are the high cost of sequencing and the lack of skilled labor. The challenges in the market are the need for data storage and data management, the need for data interpretation and data analysis, and the need for data security.

Global Genomics Market Report Findings

https://www.globalinsightservices.com/reports/genomics-market/

The academic & research institutes segment is likely to hold the major share of the market in 2023                                            

Based on end user, the Genomics Market is segmented into hospitals & clinics, academic & research institutes, pharmaceutical & biotechnology companies, and others. The academic & research institutes segment is expected to dominate the market during the forecast period.

The epigenomics segment is likely to hold the major share of the market in 2023

By study type, the market is classified into functional genomics, biomarker discovery, pathway analysis, epigenomics, and others. The epigenomics segment dominated the market in 2023 in terms of revenue and is expected to dominate the market during the forecast period.

The sequencing segment is likely to hold the major share of the market in 2023

Based on technology, the Genomics Market is segmented into sequencing, PCR, flow cytometry, microarrays, and others. In 2023, the sequencing segment dominated the market in terms of revenue and is expected to be the same during the upcoming years.

The consumables & reagents segment is likely to hold the major share of the market in 2023

Based on Product & Services, the Genomics Market is segmented into consumables & reagents, services, and instruments, systems & software. The consumables & reagents segment is expected to dominate the market during the forecast period.

The drug discovery & development segment is likely to hold the major share of the market in 2023

Based on application, the Genomics Market is segmented into drug discovery & development, diagnostics, agriculture & animal research, and others. The drug discovery & development segment is expected to dominate the market during the forecast period.

The North America region is accounted for the majority of market share in 2023

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America has the biggest market share in terms of Genomics Market value followed by Asia Pacific. There are several factors contributing to the growth of the genomics market in the region. These include favorable initiatives by government and private bodies, as well as the increasing adoption of NGS and PCR-based diagnostics. Additionally, there has been a rise in the number of genomics startups and an increase in cancer research. Growing awareness of genomics services has also played a role, along with the presence of major players in the market, such as Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), and Danaher Corporation (US).

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Competitive Landscape

The key players studied in the global Genomics Market are Oxford Nanopore Technologies (U.K)Danaher Corporation (U.S)Thermo Fisher Scientific Inc. (U.S)Eurofins Scientific (Luxembourg)F. Hoffmann-La Roche Ltd. (Switzerland)Illumina Inc. (U.S)Bio-Rad Laboratories (U.S)Agilent Technologies (U.S)Eppendorf (Germany)GE Healthcare Inc. (U.S), among others.

Global Genomics Market: Recent Developments

  • In March 2023, Illumina, Inc (US) has introduced Connected Insights, a new cloud-based platform that enables tertiary analysis of clinical next-generation sequencing data. This program will aid in genomic profiling (CGP) for advanced malignancies, whole-genome sequencing for uncommon disorders, and other sophisticated applications.
  • In February 2023, Eppendorf AG (Germany) expanded its production facilities in China by securing a contract to develop a new plant in Shanghai.
  • In February 2023, TrueMark STI Select Panel, a polymerase chain reaction (PCR) test developed for research purposes only, detects Chlamydia trachomatis, Neisseria gonorrhoeae, Trichomonas vaginalis, and Mycoplasma genitalium.
  • In October 2022, Oxford Nanopore Technologies (UK) worked with 10x Genomics (US) to create a simplified approach for sequencing full-length transcripts in single reads using easily accessible Oxford Nanopore devices.

Global Genomics Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Genomics Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global Genomics Market potential from 2023 to 2033 in terms of revenue ($ Million), and Volume (Units).
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Genomics Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Genomics Market industry.

Global Genomics Market Segmentation

Market Segmentation:

By Products and Services

  • Consumables & Reagents
  • Services
  • Instruments, Systems & Software

By Technology

  • PCR
  • Sequencing
  • Microarray
  • Flow Cytometry
  • Others

By Application

  • Diagnostics
  • Drug Discovery and Development
  • Agriculture and Animal Research
  • Others

By Study Type

  • Functional Genomics
    • Transfection
    • Real-Time PCR
    • RNA Interference
    • SNP Analysis
    • Mutational Analysis
    • Microarray Analysis
  • Epigenomics
    • Bisulfite Sequence
    • High-Resolution Melt
    • Microarray Analysis
    • Chromatin Accessibility
  • Pathway Analysis
    • Bead-Based Analysis
    • Microarray Analysis
    • Real-Time PCR
    • Proteomics Tools
  • Biomarker Discovery
    • Mass Spectrometry
    • DNA Sequencing
    • Bioinformatics
    • Statistical Analysis
    • Real-Time PCR
  • Others

By End-Use

  • Research Centers and Academic Institutes
  • Hospitals & Clinics
  • Pharmaceutical & Biotechnology Companies
  • Others

By Region

  • North America
    • The U.S.
    •  Canada
    •  Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    •  Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    •  Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  •  Rest of the World
    •  Latin America
    •  The Middle East
    •  Africa
Key Players