BANGALORE, India, Aug. 6, 2020 /PRNewswire/ -- Factors such as increased government funding and growth in the number of genomics initiatives, decreased sequencing costs, expanded genomics application areas, and the entry of new players and start-ups into the genomics sector drive market growth.
The global Genomics market size was valued at USD 13.4 Billion in 2019 and is projected to reach USD 27.8 Billion by 2026, at a CAGR of 11%.
This study predicts revenue growth at the global, regional, and national levels and analyses the emerging market developments and opportunities in each sub-segments. Furthermore,this study profiles leading industry players in the market and extensively analyses their tactics, which helps recognize the competitive landscape of the global genomics sector.
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TRENDS INFLUENCING THE GENOMICS MARKET SIZE
The rise in preference for modified medicine and the popularization of alliances between research institutes and companies are expected to drive the growth of genomics market size during the forecast period.
Liquid biopsy solutions identify cancer-causing DNA mutations that enable early cancer detection. Several companies have begun to use genomics to develop DNA liquid biopsy tests to detect cancer early on. This, in turn, is expected to increase the genomics market size during the forecast period.
The continuous developments in genomics have drawn interest from military organizations, resulting in a dramatic rise in the use of genetic engineering in their healthcare systems. This growing adoption of genomics from the various sector is expected to fuel the growth of Genomics Market size during the forecast period.
Medicine and biomedical sciences are now witnessing a radical shift driven by the breakthrough in genomics. Increasing demand for customized medicines will push the growth for genomics market size during the forecast period.
Furthermore, rising investments from both government and private entities towards genetic research on personalized medicines are expected to increase the genomics market size.
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GENOMICS MARKET SHARE ANALYSIS
Based on the Type, the Consumables segment accounted for the largest market share in 2018, while the services segment is expected to show the highest growth over the forecast period. The strong growth in the services segment is due to the growing number of start-ups in genomic services.
Based on the region, North America is expected to hold the largest genomics market share in 2018. The dominance of North America is attributed to the growing funding for research and government initiatives.
Asia Pacific is expected to witness the highest growth rate during the forecast period. The significant growth in this area is due to an increased understanding of genomics and the the government increased emphasis on promoting genomics research.
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GENOMICS MARKET SEGMENTATION
Genomics Breakdown Data by Type
- Instruments
- Consumables
- Services.
Genomics Breakdown Data by Application
- Hospitals
- Research Institutes
- Others.
Key Companies
- Illumina Inc
- Agilent Technologies
- Roche Diagnostics
- Cancer Genetics Inc
- Bio-Rad Laboratories
- Sigma Aldrich
- Qiagen
- Perkin Elmer
- Affymetrix
- GE Healthcare
- Others.
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SIMILAR REPORTS
- NGS Informatics and Clinical Genomics Market Report
The major factors expected to increase the NGS Informatics and Clinical Genomics Market size are the growing number of genomic trials carried out worldwide, the plummeting expense of genome sequencing, and the intensified emphasis on lowering cancer care costs through allowing the use of genomic profiling for each person.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-4O281/ngs-informatics-and-clinical-genomics
- Single Cell Sequencing Market Report
Advances in the area of single-cell research are projected to the growth during the forecast period.
Furthermore, strong industry player engagement and commitment to product upgrades play a significant role in business development. Increasing levels of corporate partnerships and mutual alliances are encouraging the creation of a collective portfolio within the network.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-2C328/single-cell-sequencing
- Single Cell Genomics Market Report
North America is the dominating region in the single-cell genomics market owing to the advancing biopharmaceutical and biotechnology and genomics fields.
The Single Cell, Genomics Market report, includes a country-wise and region-wise market size for 2015-2026. It also includes market size and forecast by each application segment in revenue for the period 2015-2026.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-088/global-single-cell-genomics-market
- Genomics In Cancer Care Market Report
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-9Z2480/global-genomics-in-cancer-care
- Genomics Personalized Health Market Report
The global Genomics Personalized Health market size is projected to reach USD 9517.9 Million by 2026, from USD 8721.3 Million in 2020.
Genomics Personalized Health market is growing because of rising competition in the biopharmaceutical and healthcare industries. Rising the prevalence of cancer, rising the geriatric population, increasing exposure to health in developing economies are the other drivers for genomics personalized health the sector.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-2E329/genomics-personalized-health
- Metagenomics Market Report
The global metagenomics market was valued at USD 176 million in 2017 and is expected to reach USD 523 million by 2024 at a CAGR of 16.8% during the forecast period.
Metagenomic technologies have allowed a better understanding of the microbial ecology and microbiology through functional metagenomics in the global geochemical cycles.
View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-0V276/metagenomics
- Agrigenomics Market Report
Agrigenomics is widely used in Crops and Livestock. The most proportion of Agrigenomics is used in Crops, and the proportion was about 75.6% in 2016.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-29Y525/global-agrigenomics
- Genomics Biomarkers Market Report
Growing instances of low-cost clinical trials in developing countries will drive the growth of Genomics Biomarkers Market size during the forecast period.
This globalization of clinical trials has been attributed to multiple components, including coordinated trials, participants willingness to promote participation, accessibility of trained local investigators, expanded incentives in various Tier 2 and Tier 3 countries, and lower clinical trial expenses in developing countries.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-4V164/genomics-biomarkers
- Nutrigenomics Market Report
In 2019, the global Nutrigenomics market size was USD 10070 Million and it is expected to reach USD 19170 Million by the end of 2026.
This study focuses on the global status of Nutrigenomics, future outlook, opportunities for growth, key market, and key actors. The objective of this study is to present the progress of Nutrigenomics in North America, Europe, China, Japan, Southeast Asia, India, and Central and South America.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3S289/nutrigenomics
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