According to IMARC Group’s latest report, titled “Genomics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,”. Looking forward, IMARC Group expects the market the global genomics market to continue its strong growth during the next five years.
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Genomics refers to the study of structure, function, and inheritance of the genetic material present in the deoxyribonucleic acid (DNA) of an organism. It identifies the effect of a combined intrarelationship of genes on the overall growth and development of the organism. Genomics includes various consumables, software, and services for diagnostics, drug discovery, precision medicine development, and agricultural research. It aids in the production of targeted and personalized medicines, along with enabling newborn genetic screening programs and military genomics. Few technologies used in genomics are microarray, sequencing, polymerase chain reaction (PCR), nucleic acid extraction and purification, and single-cell genomics analysis.
The growth in non-invasive cancer screening-based research, along with the high prevalence of chronic diseases has augmented the demand for personalized medicines, involving genomics. Additionally, the integration of clinical workflows with genomic data has further catalyzed the market growth. Moreover, the propelling demand for genetically modified plants and organisms in the agriculture industry is also catalyzing the market growth. Rising technological advancements have led to the development of genomics-based apps and tests, thereby inducing the demand for genomics. Robust research and development (R&D) in the bioinformatics sector, coupled with the growing demand for next-generation sequencing services, is further anticipated to bolster the genomics market.
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Genomics Market 2020-2025 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 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
- Thermo Fisher Scientific Inc.
The report has segmented the market on the basis of component, application, technology, end-user and region.
Breakup by Component:
- Instruments and Software
- Consumables and Reagents
- Core Genomics Services
- NGS-Based Services
- Biomarker Translation Services
- Computational Services
Breakup by Application:
- Functional Genomics
- Biomarkers Discovery
- Pathway Analysis
Breakup by Technology:
- Polymerase Chain Reaction
- Nucleic Acid Extraction and Purification
Breakup by End-User:
- Research Centers
- Hospitals and Clinics
- Pharmaceutical and Biotechnology Companies
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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