The genomics market is expected to reach US$ 32,995.3 million by 2025 from US$ 14,728.6 million in 2017; it is estimated to grow at a CAGR of 10.8% from 2018 to 2025.
Genomics is defined as the study of a gene and its functioning. The concept of genomics aims to understand the genome’s architecture, which comprises the deoxyribonucleic acid (DNA), ribonucleic acid (RNA), and proteins. Genomics is meant to examine the molecular mechanisms and the interaction of genetic and environmental factors in the diseases. Genomics is a broad spectrum that includes functional genomics, structural genomics, comparative genomics, epigenomics (epigenetics), and pharmacogenomics. Factors such as growth in investments & funds for genomics, declining cost of sequencing procedures, increasing number of start-up companies, technological advancements in genomics are expected to boost the market growth over years. However, the growth of the market is restrained by various factors such as nonexistence of skilled professionals and high cost of equipment used in genomics.
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The major players operating in the genomics market include Thermo Fisher Scientific Inc., Illumina Inc., and Eurofins, Qiagen, Agilent Technologies, BGI, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Danaher, and GE Healthcare. For instance, in October 2018, Roche launched the three new next-generation sequencing (NGS) AVENIO Tumor Tissue Analysis Kits, the AVENIO Tumor Tissue Targeted Kit, Expanded Kit and Surveillance Kit. The kits detect all four mutation classes in solid tumours, complement Roche’s NGS ctDNA kits for oncology research. The developments performed by the companies are helping the market to grow in the coming years.
Global genomics market, based on technology was segmented into sequencing, microarray, PCR, nucleic acid extraction and purification, and others. In 2017, sequencing segment held the largest share of the market, by technology. Moreover, the sequencing segment held the largest share of the market owing to its variant libraries, genes, operons, increase the function of proteins, and to test the particular gene. However, the microarray segment is expected to grow at the fastest rate during the coming years.
The market for genomics is expected to grow as growth in investments & funds for genomics, declining cost of sequencing procedures, increasing number of start-up companies, technological advancements in genomics are expected to fuel the market growth during the forecast period. In addition, the technologies of genomics are likely to have a positive impact on the growth of the market in the coming years.
TABLE OF CONTENTS
1. INTRODUCTION 23
1.1 SCOPE OF THE STUDY 23
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE 23
2. GLOBAL GENOMICS MARKET – KEY TAKEAWAYS 25
3. GLOBAL GENOMICS MARKET – MARKET LANDSCAPE 28
3.1 OVERVIEW 28
3.2 MARKET SEGMENTATION 28
3.2.1 Global Genomics Market – By Technology 29
3.2.2 Global Genomics Market – By Product & Services 29
3.2.3 Global Genomics Market – By Application 30
3.2.4 Global Genomics Market – By End User 30
3.2.5 Global Genomics Market – By Geography 30
3.3 PEST ANALYSIS 31
3.3.1 North America – PEST Analysis 31
3.3.2 Europe– PEST Analysis 33
3.3.3 Asia Pacific– PEST Analysis 35
3.3.4 Middle East And Africa– PEST Analysis 37
3.3.5 South and Central America – PEST Analysis 39
4. GLOBAL GENOMICS MARKET – KEY MARKET DYNAMICS 41
4.1 KEY MARKET DRIVERS 41
4.1.1 Growth in Investments & Funds for Genomics 41
4.1.2 Declining Cost of Sequencing Procedures 42
4.1.3 Increasing Number of Start-up Companies 42
4.1.4 Technological Developments in Genomics 43
4.2 KEY MARKET RESTRAINTS 44
4.2.1 Nonexistence of Skilled Professionals 44
4.2.2 High Cost of Equipment Used in Genomics 44
4.3 KEY MARKET OPPORTUNITIES 45
4.3.1 Scopes for the Consumer Genomics 45
4.3.2 Extensive Use of Genomics for Medical Applications 46
4.4 FUTURE TRENDS 46
4.4.1 Technologies of Genomics 46
4.5 IMPACT ANALYSIS 47
5. GENOMICS MARKET – GLOBAL ANALYSIS 48
5.1 GLOBAL GENOMICS MARKET REVENUE FORECASTS AND ANALYSIS 48
5.2 GLOBAL GENOMICS MARKET, BY GEOGRAPHY – FORECASTS AND ANALYSIS 49
5.3 MARKET POSITIONING/ MARKET SHARE 50
5.4 PERFORMANCE OF KEY PLAYERS 50
5.4.1 Thermo Fisher Scientific Inc. 50
5.4.2 Illumina, Inc. 51
5.5 EXPERT OPINIONS 51
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