Genomics Market to be dominated by growing demand for Personalized Medicines through 2027
Growing importance of
personalized medicines to drive the Genomics market in the forecast period,
2023-2027.
According to TechSci Research
report, “Genomics Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2017-2027”, the global genomics
market is anticipated to grow at a significant rate in the forecast period,
2023-2027. The increase in demand for specialized medicines and vast
application in several fields are the primary factors driving the demand for
the global genomics market. Growing advancement in diagnostic therapeutics and
heavy investments in R&D activities are expected to influence the market
demand. Also, the growing number of startups and rise in genetic and chronic
diseases are also a key factor for increasing the growth of the genomics market,
globally.
However, the high cost of genomic equipment
and lack of education about genomics are likely to hinder the growth of market.
Additionally, stringent regulatory framework to develop new products is likely
to hamper the growth of the market.in the forecast period.
Browse over XX market
data Figures spread through 110 Pages and an in-depth TOC on "Global
Genomics Market"
The global
genomics market is segmented into products & services, technology,
application, end user, and company.
Based on products
& services, the market is divided into systems & software, consumables,
and service. The consumables segment is slated to proliferate during the
forecast period due to increasing efficiency in genomic systems given their
disposable nature and extreme safety to the health workers. They are used
majorly in genomic systems, which increase the usage due to the growing number
of genomic tests performed across the globe.
Based on technology, the
market is divided into sequencing, PCR, nucleic acid extraction and
purification, microarray, and others. The sequencing segment is expected to witness largest
market share as it is the mostly used in research across animal breeding, agriculture,
and human genomics. Also, due to their high speed & scalability, and ultra-high
throughput, they are widely used in modern molecular biology, scientific
research, and diagnostic medicine.
Based on application,
the market is segmented into drug discovery & development, diagnostics,
agriculture & animal research, and others. The drug
discovery & development segment is anticipated to grow during the forecast
period. This is attributed to the growing research on diseases such as cancer,
chronic diseases, genetic disorders, and the reducing cost of sequencing.
Based on end
user, the market is divided into hospitals & clinics, academic &
research institutions, biotechnology & pharmaceutical companies, and others.
The hospitals & clinics segment is anticipated to grow during the forecast
period as large number of pets are diagnosed by this disease, and greater
number of medicines are approved for the treatment.
Major
operating companies operating in global genomics market are:
·
Illumina,
Inc.
·
Thermo
Fischer Scientific, Inc.
·
QIAGEN
N.V.
·
Agilent
Technologies, Inc.
·
F.
Hoffmann-La Roche AG
·
Bio-Rad
Laboratories, Inc.
·
Eurofins
Scientific SE
·
Oxford
Nanopore Technologies Limited
·
Pacific
Biosciences of California, Inc.
·
Danaher
Corporation
·
GE
Healthcare
·
Myriad
Genetics, Inc.
·
23andMe,
Inc.
·
Eppendorf
AG
·
Quest
Diagnostics Inc.
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“North America region
dominates the market in 2021 and is expected to maintain its dominance in the
coming years due to the availability of funds provided by both the government
and companies researching molecular biology. Also, the rising burden of chronic
diseases, genetic disorders and the presence of advanced healthcare
infrastructure in the region are expected to propel the global genomics market
growth till 2027” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Genomics Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By
Products & Services (Systems & Software, Consumables, Service), By
Technology (Sequencing, PCR, Nucleic Acid Extraction and Purification,
Microarray, Others), By Application (Drug Discovery & Development, Diagnostics,
Agriculture & Animal Research, Others), By End User (Hospitals &
Clinics, Academic & Research Institutions, Biotechnology &
Pharmaceutical Companies, Others), By Company, and By Region”, has evaluated the future
growth potential of global genomics market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global genomics market.
Contact
Mr. Ken Mathews
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Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com