New York, USA, Oct. 19, 2022 (GLOBE NEWSWIRE) -- The Global Genomics Market to Exhibit Growth at a CAGR of 16.90% During the Forecast Period (2022–2027) | DelveInsight
As per DelveInsight analysis in the genomics market, the increasing application of genome analysis across various medical fields, as well as the rise in the burden of the population suffering from various disorders such as cancer and genetic disorders, among others, are expected to drive the genomics market growth in the coming years.
DelveInsight’s Genomics Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies’ market shares, challenges, genomics market drivers, barriers, and trends, and key genomics companies in the market.
Key Takeaways from the Genomics Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global genomics market during the forecast period.
- Notable genomics companies include Thermo Fisher Scientific, Inc., Agilent Technologies, BGI, Bio-Rad Laboratories, Inc., Danaher., F. Hoffmann-La Roche Ltd, Illumina, Inc., Oxford Nanopore Technologies plc., PacBio., QIAGEN, Quest Diagnostics, Myriad Genetics, Inc., Color Health, Inc., Veritas., CD Genomics., GenomSys, IntegraGen., NimaGen B.V., NRGene, Abbott, and others and several others are currently operating in the genomics market.
- On October 27, 2021, GenomSys, launched its latest CE-marked GenomSys Variant Analyzer, a platform natively operating on MPEG-G genomic data format that enables accurate variants identification, annotation, and interpretation (SNVs, indels, CNVs).
- On May 22, 2020, Roche acquired Stratos Genomics to strengthen its DNA based sequencing for diagnostic use
- On February 18, 2020, Nebula Genomics, the leading privacy-focused personal genomics company, launched a new product, 30x whole-genome sequencing for USD 299 in the direct-to-consumer market segment. With this launch, Nebula Genomics also expands its services to 188 countries.
- Thus, owing to such developments in the market, there will be rapid growth observed in the genomics market during the forecast period.
To read more about the latest highlights related to the genomics market, get a snapshot of the key highlights entailed in the Genomics Market Report
Genomics Overview
The World Health Organization (WHO) defines genomics as the study of an organism’s complete or partial genetic or epigenetic sequence information in order to understand the structure and function of these sequences. Furthermore, in the healthcare or medical field, genomics is used to analyze the molecular mechanism of genes or DNA and to use this molecular information in conjunction with health intervention and environmental factors to diagnose and detect any diseases.
The rise in the prevalence of various disorders such as cancer, genetic disorders, and others among the global population is expected to drive the genomics market in the coming years.
Learn more about genome testing @AI in Genomics Market
Genomics Market Insights
The global genomics market is studied geographically for North America, Europe, Asia-Pacific, and the Rest of the World. North America currently leads the global genomics market in terms of revenue share and is expected to maintain that position during the forecasted period. This dominance is due to the key manufacturers’ increased adoption of various strategies to provide better genomic solutions in the region.
Furthermore, companies assisting government organizations in the region in scaling up genome sequencing for the purpose of identifying biomarkers for infectious diseases such as COVID-19 are expected to boost the genomics market during the forecasted period (2022–2027).
To know more about why North America is leading the market growth in the global genomics market, get a snapshot of the Genomics Market Research
The global genomics market is expected to grow significantly as a result of rising government-funded genome projects, technological advancement in the product arena, an increase in product approvals and launches, and an increase in the influx of startup companies offering genomics-related products or services.
However, a lack of skilled professionals and the high cost of establishing and maintaining genome analysis and sequencing facilities are two factors that are likely to hamper the growth of the genomics market.
Additionally, the unprecedented COVID-19 pandemic devastated healthcare facilities in the early stages and impacted the overall healthcare market. However, the genomics market grew significantly during the pandemic. This is due to an increase in the use of genomic surveillance to combat the pandemic.
Furthermore, during the pandemic, the approval of various products for analyzing the COVID-19 genome has propelled the genomics market.
Get a sneak peek at the Genomics market dynamics @Genomics Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2019–2027 |
| Base Year | 2021 |
| Market CAGR | 16.90% |
| Genomics Market Size in 2021 | USD 21.81 Billion |
| Projected Genomics Market Size by 2027 | USD 55.45 Billion |
| Key Genomics Companies | Thermo Fisher Scientific, Inc., Agilent Technologies, BGI, Bio-Rad Laboratories, Inc., Danaher., F. Hoffmann-La Roche Ltd, Illumina, Inc., Oxford Nanopore Technologies plc., PacBio., QIAGEN, Quest Diagnostics, Myriad Genetics, Inc., Color Health, Inc., Veritas., CD Genomics., GenomSys, IntegraGen., NimaGen B.V., NRGene, Abbott, and others |
Genomics Market Segmentation
- Market Segmentation By Type: Product (Systems & Software, Consumables), Services,
- Market Segmentation By Technology: PCR, Sequencing, Microarray, Others
- Market Segmentation By Application: Diagnostics, Drug Discovery, and Development, Precision Medicine, Others
- Market Segmentation By End-User: Hospitals and Clinics, Research Centers, Pharmaceutical, and Biotechnology Companies, Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View
Which MedTech key players in the genome sequencing market are set to emerge as the trendsetter explore @Genomics Companies
Table of Contents
| 1 | Genomics Market Report Introduction |
| 2 | Genomics Market Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Genomics Market Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Genomics Market |
| 7 | Genomics Market Layout |
| 8 | Genomics Global Company Share Analysis – Key 3-5 Companies |
| 9 | Genomics Market Company and Product Profiles |
| 10 | Project Approach |
Interested in knowing the genomics market by 2027? Click to get a snapshot of the Genomics Market Growth
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