Pune, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research a leading Healthcare research firm has published a market intelligence report on the Global Genomics Market. As per the report, the total market opportunity by 2029 is expected to be USD 72.67 Bn. The total market was valued at USD 26.74 Bn in 2022 and it is expected to grow at a CAGR of 15.35 percent during the forecast period.
| Market Size in 2022 | USD 26.74 Bn. |
| Market Size in 2029 | USD 72.67 Bn. |
| CAGR | 15.35 % (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 290 |
| No. of Tables | 116 |
| No. of Charts and Figures | 115 |
| Segment Covered | Product & Service, Technology, Test Type, Application, Method, and End-User. |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Genomics Market Report Scope and Research Methodology
The report on the Genomics Market covers key aspects of the market dynamics. The report's scope includes a broad examination of market trends, growth drivers, challenges, and opportunities within genomics, encompassing areas such as DNA sequencing, gene editing, personalized medicine, etc. The Genomics Market Report offers a detailed analysis of the genomics industry, covering the study of genes, functions, and their role in health and disease.
The research methodology uses combining primary data collection through surveys and interviews with experts, alongside secondary data from reputable sources and databases. The report includes in-depth analysis at local, regional and global level along with region specific factors affecting the market.
Major competitors in the Genomics Market are listed along with new entrants to get a comprehensive outlook on the competitive landscape of the market. The report serves as a crucial resource for stakeholders in genomics, including biotechnology companies, healthcare providers, researchers, and policymakers, aiding them in making informed decisions and investments in an industry pivotal to advancements in healthcare and life sciences.
Genomics Market Overview
The genome is a type of genetic material that includes genes and noncoding DNA. The genome market is a quickly expanding sector that focuses on the study of genes. It includes gene mapping, DNA sequencing, and gene expression analysis, to understand the variations of genetics and their impact on traits, diseases, and evolution. The genome market is driving because it plays an important role in agriculture, biotechnology, and environmental research. Advances in genomics continue to unlock insights into human biology and the natural world, driving scientific and medical breakthroughs.
Genomics Market Dynamics
The increasing funding by the government in genomics projects drives market growth. Countries such as the U.S., Canada, and India are showing great initiatives in the market. The Department of Biotechnology in India started the project called “Genome India Project” and for this project 10000 samples were collected just to build a reference genome.
There are various opportunities in the genomics market as there is growth in personalized medicine. This medicine helps the pharmaceutical for giving the give exact medicine and treatment accordingly. These medicines ensure drug safety, and early detection of disease and give proper treatment, and importantly it is cost-saving medicine.
The use of genomics concepts in the field of synthetic biology, the study of gene sequences from plants and organisms, massive technological changes that allowed researchers to survey larger parts of the human genome, government initiatives, and funding the market participants are driving the global genomics market.
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Genomics Market Regional Insights
North America dominated the genomics market and accounted for over 39 percent of market share in the year 2022. Due to the availability of abundant funds and the existence of a large number of organizations undertaking research in the field of molecular biology regions like North America and Europe are the leading the Genomics Market. The growth rate of the market in Europe is encouraged by the giant initiatives taken by the European Union to encourage research in the field of genomics.
Whereas the Asia Pacific market is anticipated to witness the most substantial development due to the strengthening economies of emerging countries such as India and China. The focus of the respective governments on encouraging research in the field of genomics has increased. China hosts the world’s largest genomic research institute, the Beijing Genomics Institute, and is also helping the Asia Pacific genomics market to sustain its growth rate.
Genomics Market Segmentation
By Product & Service
- Consumables
- Systems and software
- Services
By Technology
- Sequencing
- Microarray
- PCR
- Nucleic Acid Extraction and Purification
- Others
The PCR segment dominated with the largest share in the genomics market in the year 2022. Advancement in technology increases the research in the field of genomics, and the reduced cost of DNA amplification using PCR are the important factors driving the growth of the genomics market. The technical investment and expansion of DNA using PCR drives the genomics market. The Sequencing segment holds the largest share in the year 2022 after PCR.
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 Diagnostics segment dominated the market and is the fastest-growing application segment in the genomics market. The increasing research on diseases such as genetic disorders, and cancer, and the decreasing cost of sequencing drive the growth of this segment. Whereas the drug discovery segment holds the second position in the genomics market as the research on diseases like cancer and genetic disorders and reduced cost of sequencing increases.
By Method
- Molecular Test
- Chromosomal Test
- Biochemical Test
By End User
- Research Centers
- Hospitals and Clinics
- Pharmaceutical Companies
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Genomics Market Key Competitors include:
- 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.
Key questions answered in the Global Genomics Market are:
- What is the expected CAGR of the Genomics Market during the forecast period?
- What was the Genomics Market Size in 2022?
- What is the expected Genomics Market size in 2029?
- What are the global trends in the Genomics Market?
- What are the upcoming industry applications and trends for the Genomics Market?
- What recent industry trends can be implemented to generate additional revenue streams for the Genomics Market?
- What growth strategies are the players considering to increase their presence in the Genomics Market?
- What major challenges could the Genomics Market face in the future?
- Which region held the largest Genomics market share in 2022?
Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2022)
- Past Pricing and price curve by region (2017 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Product & Service, Technology, Test Type, Application, Method, and End-User.
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Healthcare research firm, has also published the following reports:
Agrigenomics Market- The market size is expected to reach USD 7.59 Bn. by 2029 at a CAGR of 9.7 percent during the forecast period. North America region dominated the Agrigenomics Market in the year 2022 and is expected to dominate the global market during the forecast period.
Spatial Genomics & Transcriptomics Market- The market size is expected to reach USD 452.01 Million by 2029 at a CAGR of 10.1 percent during the forecast period. The market growth of the North American spatial Genomics and transcriptomics Market is expected to amplify as the strategic investment by the government and the market players in transcriptomics R&D is increasing.
Predictive Genetic Testing and Consumer/Wellness Genomics Market- The market size is expected to reach USD 14.36 Bn. by 2029 at a CAGR of 14 percent during the forecast period. North America dominated the industry in terms of revenue because many companies in this region have several patents in the areas of predictive testing and wellness genomics.
Consumer Genomics Market- The market size is expected to reach USD 10.40 Bn. by 2029 at a CAGR of 21.1 percent during the forecast period. The North American region dominated the market and held 46.05% of the overall market share in terms of revenue.
Metagenomics Market- The market size is expected to reach USD 6.97 Bn by 2029 at a CAGR of 18.2 percent during the forecast period. The Asia-Pacific region expected to the fastest-growing region due to the high incidence of cancer, growing healthcare expenditure, rise in investments and funds and various emerging applications.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
