Global Genomics Market is estimated to reach USD
22.1 billion by 2020, growing at an
expected CAGR of 10.3% from 2014 to 2020. Genomics is a subunit of biology that
is concerned with the study of genes and its functions and brings together the
function and structure of genomes. Genomics is applied in several fields such
as biotechnology, genomic medicine, anthropology, and various other social
sciences. It consists of functional genomics, comparative genomics,
pharmacogenomics, structural genomics, and epigenomics.
The global genomics
market has undergone an increase in its market potential due to technological
developments. Adding to it, factors including growing prevalence of fetal
disorders such as diabetes and cancer, an increase in partial or full
compensation by the government of certain countries add to the market’s growth
across the globe.
In 2013,
genomics-based diagnostics held the largest share of market revenue at over 35%
on account of the occurrence of a considerably larger number of research &
development initiatives. However, genomics-based personalized medicine segment
is projected to have the highest growth rate, at an anticipated CAGR of over
12%, from 2014 to 2020. The high growth rate of the segment is on account of
the growing demand for population-based therapeutic solutions and consequent increase
in R&D initiatives.
Full Research Report on Global Genomics Market Analysis:
Consumable led the
global genomics market share at over 50% in 2013. This is on account of rising
adoption rate of genomic testing for several applications, particularly in the
field of drug development and discovery. The consumables segment is also
expected to lead the market with the fastest growth rate over the forecast
period owing to increasing applications and reduced costs of consumables.
In 2013, PCR
technology had the largest market share of over 45% owing to technological
developments and involvement of government policies about funding of research
& development. Nucleic acid extraction and purification technology are
expected to witness the highest growth rate, at a projected CAGR of 10.1%, from
2014 to 2020 on account of developing technologies for genome profiling and
growing methods for new diagnostics tools and techniques.
North America was
the major regional market, generating over 35% of the total revenue of the
global genomics market. This was on account of various reasons such as high
patient awareness levels, the presence of sophisticated infrastructure of
healthcare. Asia Pacific is likely to be the highest growing region, at a
projected CAGR of 12.7% over the next six years. The presence of large unmet
medical needs and the increasing demand for economical clinical outsourcing in
the emerging nations of China and India is anticipated to drive the high growth
rate.
The major market
players include Agilent Technologies, Bio-Rad Laboratories Inc., Illumina Inc.,
Roche Diagnostics, Cepheid, Affymetrix, Inc., BGI, GE Healthcare, Qiagen, and
Life Technologies.
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at: http://www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented the Global Genomics
Market on the basis of product, application, technology and region:
Genomics Product Outlook
• Instruments
• Consumables
• Services
Genomics Application Outlook
• Diagnostics
• Personalized
Medicines
• Drug
Discovery and Development
• Academic
Research
• Agriculture
Genomics Technology Outlook
• PCR
• DNA
Sequencing
• DNA Microarray
• Nucleic Acid
Extraction and Purification
Genomics Regional Outlook
• North America
• Europe
• Asia Pacific
• RoW
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