Westford, USA, Aug. 22, 2022 (GLOBE NEWSWIRE) -- SkyQuest has published report on global genomics market and covered how access to genomics will be provided to low and middle-income countries (LMICs) for global health. This first report on genomics also argues that it is not justified for richer countries to have access while less-resourced countries are falling behind. The report addresses four themes in order to expand access to genomics namely: advocacy for genomics to pursue government, various institutions, and so on and benefit from the medically, scientifically, and economically from the implementation of genomics, implementation by planning, financing, training personnel and improving infrastructure, collaboration between institutions and academia for funding and expanding the technical capacity, and promoting the ethical and legal use of information gathered from genomics.
WHO is also set to create a Genomics Committee which will help organizations in developing and implementing genomic products and technologies affordable for LMICs. WHO shows recent data which reports that the percentage of countries conducting genomic surveillance has increased from 54% to 68% from March 2021 to January 2022, owing to the investments in this technology during the pandemic.
With the rise of cancer and its research genomics market has risen as a useful tool for the diagnosis of cancer. According to National Cancer Institute, by 2040, the new cancer cases could blow up by 29.5 million and subsequently, the deaths followed will reach 16.4 million per annum. This will require storing, sequencing, and analyzing large DNA data and open the market for a huge scope of growth.
The COVID-19 pandemic has shifted the healthcare industry and all segments have benefited from the huge scope of improvement and demand accompanying the rise to tackle COVID-19. The genome sequence is used in tracking coronavirus by monitoring to find the manner of the injection and the impact it causes on genomes in the human body. The genome technique is being used to track the origin of COVID-19.
SkyQuest’s detailed analysis of the global genomics market gives you an insight into how the market is growing where key players are concerned. Around 100 companies’ data are statistically analyzed by SkyQuest and detailed data is provided in the report which will propel you to make decisions aligning with the trends and the upcoming demands of this market.
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What are the recent developments in the genomics market?
NGS (Next Generation Sequencing) technology’s emergence has caused a decrease in the costs of sequencing. New products and new services are being yielded thanks to the NGS technology. With the increase in Artificial Intelligence’s utilization in all sectors, novel AI tools can now accurately predict DNA’s regulatory elements and 3D structure by studying its raw sequence. With the growing adoption of personalized and precision medicine, genomics market is projected to witness a significant growth in the demand in the years to come.
In April 2021, Genome Medical, a digital health company expanded its technology by bringing genetics and genomics into everyday care. It focuses on collecting the patient’s family health data to help find and assess any genetic risk that might be posing the patient. It licenses Health Heritage, an application that provides genomic decisions as well as family medical history data.
In May 2021, SEQuoia RiboDepletion Kit was launched by Bio-Rad for NGS. This stand-alone, post-library kit eliminates any fragments which have been derived from cytoplasmic RNA and mitochondrial RNA sequences from the RNA-Seq library.
In July 2021, GE Healthcare, one of the leading players in the global genomics market, collaborated with SOPHiA GENETICS, a global healthcare data-sharing network to use genomic-based AI for cancer care. Integrating genomic-based AI into oncology sets to be a breakthrough for integrated cancer medicine and the future of clinical research on it.
In February 2022, it came up via a published article, "Covid-19 and Artificial Intelligence: Genome sequencing, drug development, and vaccine discovery” that with the help of AI genomic sequencing, the sequence of SARS-COV-2 was identified and it helped in the identification of variants of coronavirus like delta and Omicron in the global genomics market.
In May 2022, Pan American Health Organization (PAHO) updated that in 2020, the COVID-19 Genomic Surveillance Regional Network was established to start a SARS-COV-2 genomic sequencing. It was a strategy to increase the global genetic sequence data which will help in developing vaccines as well as the evolution and molecular epidemiology of SARS-COV-2.
In June 2022, a study found that chromosome level and haplotype resolved genome sheds light on the tetraploid hybrid origin of patchouli which is used in Indian and Chinese Ayurvedic. This has led to insights into the evolutionary history of patchouli and unprecedented genomic resources are provided for patchouli research.
SkyQuest studied the recent development in the global genomics market to reach a conclusion about the innovations which are trending in the market. The new entrants in the business and their innovations are studied to publish this report to help businesses make correct data-driven decisions.
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What is the future of the genomics market?
With the rise of various technologies, it is evident that genomic sequencing will lead to a rise in its demand. One of the signification reasons would be the rise in government-funded projects related to genomes. As genomic research can be used as a tool to develop effective therapies, investment in such projects by the government is increasing in number by the day.
Genomics England has collaborated with NHS in incorporating genome sequencing in day-to-day medical care, named Genomic Medical Service. More similar projects are on the rise acorss the global genomics market as government investments and funding increase to cater to projects like Personalized Medicine Program, France Genomique, The Saudi Human Gerome Program, and many more.
In India, too a project was sanctioned by the Department of Biotechnology (DBT) to catalog Genetic variation in Indians. This data generated will be able to boost the upcoming genetics research in the country and the population can opt for precision medicine and healthcare at low costs.
The growth in the genomics market was given a push by the software called TruSight which catered to genome sequencing by providing ready-to-use infrastructure which will help identify genetic diseases. This has opened the market for quite a growth boost. Personalized medicine is sought out by most of the population and owning to the decreasing cost of genomic sequencing it is expected that the market size will gallop at a great speed. With the issue of WHO’s report, it is now expected for the demand for genome sequencing to grow in low and middle-income countries, leaving a scope in the market for new and improved innovations using research and development strategies.
SkyQuets has published a report to align your strategies to gain a competitive edge in the genomics market by studying the key players and their recent developments, including their budget, investments in R&D, innovations, and M&As. This will provide insight into how to establish your foothold in the market where the key players are concerned.
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Key Players in The Genomics Market:
- Illumina, Inc. (US)
- Thermo Fisher Scientific (US)
- Qiagen (Netherlands)
- Eurofins Scientific (Europe)
- Agilent Technologies (US)
- Oxford Nanopore Technologies (UK)
- F. Hoffmann-La Roche (Switzerland)
- Bio-Rad Laboratories (US)
- McKesson Corporation (US)
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