The "Genomics Market - Growth, Trends, and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The Global Genomics Market is anticipated to grow at a CAGR of 9.3% during the forecast period.
The major factors attributing to the growth of the genomics market are growing government support and increased number of genomics studies, declining sequencing cost, increased genomics applications.
The genomics market is geared to exponential growth as a result of the essential genetic developments and also because of its applications in numerous areas of study, such as intragenomic phenomena like epistasis, heterosis, pleiotropy, and other associations within the genome between alleles and loci - and there are few more factors which are playing crucial roles in taking the genomics market to the next level, among them one is on-bioengineering and synthetic biology applications which are expected to further propel the growth of the genomics market.
Key Market Trends
Consumables Segment is Expected to Hold the Largest Market Share in the Genomics Market
Genomics is widely used in medical, biotechnology, agriculture, diagnostics, and DNA Sequencing. Genomics is used in the healthcare sector to build vaccines and medicines. The use of consumables while making vaccines and drugs and in their testing have great applications.
According to the U.S. National Center for Biotechnology Data, oncology expenditure (research and treatment of tumors) is projected to increase by 7 percent - 10 percent yearly through 2020, with universal oncology costs approaching USD 150 billion. The use of genomics in making possible biomarkers for cancers and in the exploration of cell-free circulating DNA by several R&D sectors is upsurging the market growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall genomics market, throughout the forecast period. This is owing to the factors such as the rising incidence of chronic diseases such as cancer, increasing government entities investment in research, raising awareness of patients, and the availability of advanced healthcare infrastructure has contributed to growing technological advances in this sector and rising demand for biotechnological practices in the region, is anticipated to further drive the growth in this region. Further, the domicile presence of some of the major players in the region is also ensuring the dominance of the region.
The genomics market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions across the globe. Some of the companies which are currently dominating the market are Illumina, Inc., Thermo Fisher Scientific, Agilent Technologies, Luminex Corporation, and Myriad Genetics, Inc.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Widening Range of Applications of Genomics and Government Support
4.2.2 Technological Advancements and Growing Adoption of Genomic Medicine
4.3 Market Restraints
4.3.1 High Cost of Equipment & Consumables
4.3.2 Dearth of Skilled Professionals
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product & Services
5.1.2 Systems & Software
5.2 By Techniques
5.2.4 Nucleic Acid Extraction and Purification
5.3 By Application
5.3.2 Drug Discovery and Development
5.3.3 Precision Medicine
5.4 By End User
5.4.1 Hospitals & Clinics
5.4.2 Research Centers
5.4.3 Pharmaceutical and Biotechnology Companies
5.5.1 North America
5.5.4 Middle-East & Africa
5.5.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Illumina, Inc.
6.1.2 Thermo Fisher Scientific
6.1.3 Agilent Technologies
6.1.4 Luminex Corporation
6.1.5 Myriad Genetics, Inc.
6.1.6 Perkinelmer Inc.
6.1.7 GE Healthcare
6.1.8 F. Hoffmann-La Roche Ltd.
6.1.9 Pacific Biosciences of California, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/6hkd8d
View source version on businesswire.com: https://www.businesswire.com/news/home/20200813005596/en/
ResearchAndMarkets.comLaura Wood, Senior Press Managerpress@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470For U.S./CAN Toll Free Call 1-800-526-8630For GMT Office Hours Call +353-1-416-8900
Recommendation and review posted by G. Smith