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Global Genomics Market to Exhibit Strong Growth During 2020-2025, Impelled by Development of Next-Generation Sequencing Technology

IMARC Group’s latest report, titled “Genomics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global genomics market size reached US$ 18.1 Billion in 2019. Genomics is the study of whole genomes to assemble, sequence and analyze the structure, function and evolutionary comparison of genomes. It uses a combination of DNA sequencing methods, recombinant DNA and bioinformatics. Today, next-generation sequencing technologies have resulted in significant improvements in genome sequencing speed, capability and affordability.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Genomics Market Trends:

In recent years, with the growing prevalence of chronic diseases like cancer, several companies have begun leveraging genomics to develop DNA liquid biopsy tests to detect cancer at an early stage. Apart from this, the increasing adoption of non-invasive cancer screening-based research and the rising demand for personalized medicines is also contributing to the market. Besides this, the integration of cloud computing solutions has helped in performing tasks in parallel computing nodes along with the processors. Moreover, next-generation sequencing technology has enabled the development of life-science databases and projects to support scientific research. Furthermore, biotechnology companies are using gene-editing techniques to overcome the complexities of personalized patient care through the production of genetically modified and recombinant drugs. Some of the other factors, such as improving healthcare infrastructure, rising awareness among patients and substantial investments in research by governmental organizations, are positively impacting the market growth. Looking forward, the market is anticipated to exhibit strong growth during the forecast period (2020-2025).

Market Summary:

  • Based on the type, the market has been segmented into products (instruments and software and consumables and reagents), and services (core genomics services, NGS-based services, biomarker translation services, computational services and others).
  • On the basis of the application, the market has been segregated into functional genomics, epigenomics, biomarkers discovery, pathway analysis and others.
  • The market has been categorized based on technology into sequencing, microarray, polymerase chain reaction, nucleic acid extraction and purification, and others.
  • On the basis of the end user, the market has been classified into research centers, hospitals and clinics, pharmaceutical and biotechnology companies, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, Indonesia, South Korea, Australia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being 23andMe Inc., Agilent Technologies Inc., Bayer Aktiengesellschaft, BGI Genomics Co. Ltd., Bio-RAD Laboratories Inc., Danaher Corporation, Illumina Inc., Oxford Nanopore Technologies, PerkinElmer Inc., Myriad Genetics Inc., Roche Holding AG and Thermo Fisher Scientific Inc.
     

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