Genomics Market: was worth US$ 23.18 Bn. in 2021 and total revenue is expected to grow at a rate of 15.35% CAGR from 2021 to 2029, reaching almost US$ 72.67 Bn. in 2029.
Genomics Market Overview:
Maximize Market Research’s new report, Global Genomics Market 2022-2029, is useful for understanding the market’s competitors. The research provides a broad and basic examination of the market, including an examination of subjective factors that might provide readers with vital business insights. The research provides a market overview that explains the value chain structure, geographical analysis, applications, market size, and forecast (2022-2029). The research will serve as a vehicle for a more accurate assessment of the current and future conditions of the worldwide Genomics market.
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Market Scope:
The research provides an analytical view of the business by studying several elements such as worldwide Genomics market growth, consumption volume, market trends, and company pricing structures throughout the projected period. The analysis includes extensive research to explore the market’s complexities. The research provides an overview of the worldwide Genomics market, including market characteristics, market segmentation analysis, market size, customer landscape, and geographical landscape. The study considers growth drivers, current trends, advancements, prospects, and the competitive environment in its research. This market has been examined in several areas based on productivity and manufacturing base.
Segmentation:
by Product & Service
• Consumables
• Systems and software
• Services
The market is further divided into Consumables, Systems and software, and Services based on Product and Service. In 2021, consumables will have the biggest market share (%). Consumables are still being used in the genomic system, and the number of genomic tests being performed worldwide is rising. This is one of the market-influencing elements. The segment’s income is produced by significant players using nucleic acids and reagents. With the debut of a product meant to make whole genome sequencing accessible and inexpensive for laboratories of all sizes in June 2021, Illumina Inc. announced the NovaSeqTM 6000 reagent kit in August 2021. The Magbind viral RNA Xpress kit was introduced by Omega bio-tek Inc. to quickly and accurately isolate viral RNA from swab samples;
by Technology
• Sequencing
• Microarray
• PCR
• Nucleic Acid Extraction and Purification
• Others
The market is divided into Sequencing, Microarray, PCR, Nucleic Acid Extraction and Purification, and Others based on technology. In 2021, the genomics market’s highest share, or %, belonged to the PCR category. The market for genomics is expanding mostly due to technological advancements, an increase in genomics research, and decreased costs for DNA amplification using PCR. The market is primarily driven by technology investment and DNA expansion utilising PCR. In 2021, the second segment will have the highest share of %. Sequencing technology has benefits including ultra-high throughput, scalability, and fast speed. It is utilised for a variety of tasks, including farming and animal breeding.
by Test Type
• Diagnostic Test
• Genetic Test
• Newborn Screening
• Pre-implantation Testing
• Prenatal Testing
• Carrier Testing
by Application
• Diagnostic
• Drug Discovery
• Precision Medicine
• Others
The market is further divided into the Application sub-segments of Diagnostic, Drug Discovery, Precision Medicine, and Others. The genomics market’s largest and fastest-growing application sector is diagnostics. The expansion of this market can be due to rising study of diseases including cancer and genetic disorders as well as falling sequencing costs. With more research being done on diseases like cancer and genetic disorders, together with lower sequencing costs, the drug discovery segment is currently holding the second-place spot in the market.
by Method
• Molecular Test
• Chromosomal Test
• Biochemical Test
by End User
• Research Centers
• Hospitals and Clinics
• Pharmaceutical Companies
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Key Players:
It then discusses the top competitors in the worldwide Genomics market, as well as emerging players, in detail, including market share based on revenue, demand, high-quality product makers, sales, and service providers. In addition, the research assesses capacity utilization, raw material sources, import-export, the value chain, price structure, and the industrial supply chain. The following players are featured in this report:
• Thermo Fisher Scientific Inc
• Illumina Inc.
• QIAGEN N.V.
• Agilent Technologies Inc
• Eurofins Scientific
• BGI
• GE Healthcare
• Bio-Rad Laboratories Inc
• F. Hoffmann-La Roche Ltd
• Oxford Nanopore Technologies
• Beijing Genomics Institute
• Foundation Medicine, Inc
• 23andMe, Inc
• Pacific Biosciences of california
• Myriad Genetics, Inc.
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Regional Analysis:
The report has analyzed the global Genomics market in the following regions:
- America, North (the United States, Canada, and Mexico)
- European Union (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
- Latin America (Brazil, Argentina, Colombia, and Rest of South America)
- Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)
The research provides comprehensive insights into numerous development opportunities and challenges in the regions mentioned above based on various types of goods, applications, end-users, and countries, among others. The research also includes key features of the worldwide Genomics market, such as sales growth, product price and analysis, growth potential, and suggestions for tackling market issues in the given regions.
COVID-19 Impact Analysis on Genomics Market:
COVID-19 is an unprecedented worldwide public health emergency that has impacted practically every business, and the long-term impacts are expected to have an influence on industry growth throughout the projection period. Our continuing study expands our research methodology to include fundamental COVID-19 concerns and potential next steps. The research provides insights on COVID-19 by taking into account changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and substantial government initiatives. The revised report contains insights, analysis, projections, and predictions based on the influence of COVID-19 on the market.
Key Questions Answered in the Genomics Market Report are:
- Which are the major companies in the Genomics market?
- Which is the potential market for Genomics in terms of the region?
- Which application area of Genomics is expected to grow at a significant rate in the market in the next 5 years?
- What are the opportunities for new market entrants?
- What will be the Genomics market size by 2027?
- What are the growth prospects for the Genomics market?
- What is the base year considered in the Genomics market report?
- Which region holds the largest market share in the Genomics market?
- What factors are anticipated to drive the Genomics market?
