Global genomics market expected to generate around USD 41.2 billion by 2025, at a CAGR of 14.2% between 2019 and 2025. The global genomics market has been split into deliverables, application, and end user. Based on deliverables, the genomics market includes services and products.
Sarasota, FL -- (SBWIRE) -- 04/16/2019 -- Zion Market Research has published a new report titled "Genomics Market by Deliverables (Services and Products), by Application (Epigenomics, Functional, Biomarker Discovery, Pathway Analysis, and Others), and by End-User (Government and Academic Institutes, Clinical Research, Biotechnology and Pharmaceutical Companies, Hospitals and Clinics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025". According to the report, the global genomics market was valued at approximately USD 16.4 billion in 2018 and is expected to generate around USD 41.2 billion by 2025, at a CAGR of 14.2% between 2019 and 2025.
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The increasing number of research projects in genomics, diminishing sequencing cost, expanding applications of genomics, escalating demand for nucleic acid sequencing, rising research and development activity in drug discovery and molecular biology, market growth initiatives taken by public and private organizations, entry of start-ups in genomics, and rising genomics support in advance of tailored medicines are major factors driving the global genomics market. The popularization of collaborations between research institutes and companies and the rising preference for personalized medicine are likely to offer new growth opportunities to the players of the global genomics market. However, the dearth of skilled professionals, high equipment costs required in genomics, and the lack of awareness may restrict the global genomics market in the years ahead.
The global genomics market has been split into deliverables, application, and end user. Based on deliverables, the genomics market includes services and products. The products segment is expected to dominate the market over the estimated time period, majorly due to the recurrent use of instruments and reagents for genomics research and the rising number of research programs undertaken by government and private organizations. The services segment is sub-segmented into NGS-based, core genomics, computational, biomarker translation, and others. Products are sub-segmented into reagents and instruments. The application segment includes epigenomics, functional, biomarker discovery, pathway analysis, and others. Functional division dominated the application segment in 2018, due to a huge volume of sequencing data generation. Epigenomics is sub-segmented into chromatin immunoprecipitation (ChIP-Seq), bisulfite sequencing, methylated DNA immunoprecipitation (MeDIP), chromatin accessibility assays, high-resolution melt (HRM), and microarray analysis. Functional is sub-segmented into real-time PCR, transfection, RNA interference, SNP analysis, mutational analysis, and microarray analysis. Biomarker discovery is sub-segmented into real-time PCR, mass spectrometry, microarray analysis, genomics, statistical analysis, and DNA sequencing. Pathway analysis is sub-segmented into microarray analysis, bead-based analysis, real-time PCR, and proteomics tools. The end-user segment includes government and academic institutes, clinical research, biotechnology and pharmaceutical companies, hospitals and clinics, and others. Biotechnology and pharmaceutical companies are expected to dominate the market, due to the increasing number of genetic research training.
North America will lead in the future and accounted for over 38% of the global genomics market in 2018. Continuous funding for life sciences research from private organizations and government institutions, growing implementation of tailored medicines, increasing investments made by academic institutions in genomics research, the presence of state-of-the-art healthcare facilities, and early adoption of latest technologies are boosting the North American market. Europe will be the second largest market in the future, owing to the presence of skilled researchers, high R&D investments made by leading companies, increasing geriatric population, the rising prevalence of chronic disorders, and positive reimbursement scenario. The Asia Pacific market will propagate at speedily over the forecast time period, due to the rising incidences of chronic diseases, growing interest in genomics, increasing research and development on genomics applications, and escalating use of genomics in disease diagnosis.
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Some key players of the global genomics market are Illumina, Inc., Thermo Fisher Scientific, Inc., QIAGEN N.V., Eurofins Scientific, Agilent Technologies, Inc., GE Healthcare, BGI, Bio-Rad Laboratories, Inc., Oxford Nanopore Technologies, and F. Hoffmann-La Roche Ltd.
This report segments the global genomics market as follows:
Global Genomics Market: By Deliverables
Global Genomics Market: By Application
Chromatin Immunoprecipitation (ChIP-Seq)
Methylated DNA Immunoprecipitation (MeDIP)
Chromatin Accessibility Assays
High-Resolution Melt (HRM)
Global Genomics Market: By End-User
Government and Academic Institutes
Biotechnology and Pharmaceutical Companies
Hospitals and Clinics
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Global Genomics Market: By Region
The Middle East and Africa