FEATURED COMPANIES
- 10X Genomics Inc.
- Bio-Rad Laboratories Inc.
- Eppendorf AG
- F. Hoffmann-La Roche Ltd.
- Illumina Inc.
- QIAGEN N.V.
According to a study conducted by the publisher, the global genomics market is expected to generate a revenue of $68.0 billion by 2030, increasing from $18.2 billion in 2019, progressing at a 12.7% CAGR during the forecast period (2020–2030).
The market is growing due to the increasing government initiatives and support, rising requirement for personalized medicine, and reduction in the cost of sequencing services. In terms of solution, the market is categorized into services, consumables, and instruments, among which, the consumables category dominated the market in 2019.
This can be attributed to the rising number of samples that are being processed at labs, research centers, and several other end-use settings. In addition to this, the growing number of research projects are also resulting in the rising demand for consumables. On the basis of application, the genomics market is categorized into diagnostics, agriculture and animal research, precision medicine, and drug discovery & development. Among which, the diagnostics category held the major share of the market in 2019, owing to the rising research projects related to genetic diseases, including cancer.
When technology is taken into consideration, the genomics market is classified into microarray, polymerase chain reaction, and sequencing, out of which, the sequencing classification is predicted to witness the highest CAGR during the forecast period. The demand for this technology is growing rapidly, owing to its lowering cost. As per the National Human Genome research Institute, the cost of genome sequencing was about $10,000 in the mid-2011, which decreased considerably to $1,000 in 2018. This is expected to drive the adoption of sequencing, thereby leading to the growth of the market.
North America accounted for the largest share of the market in the past, which is because of the various ongoing genomics research projects, presence of major players, and increasing investments in the industry by both government and private organizations. The Asia-Pacific region is predicted to register the highest CAGR during the forecast period, as the number of research activities in the field to genomics is growing in countries including Japan, India, and China. Both public and private organizations are providing funding for innovations in genome research.
In conclusion, the market is being driven by increasing need for personalized medicine and rising support and initiatives by governments across the globe.
The market is growing due to the increasing government initiatives and support, rising requirement for personalized medicine, and reduction in the cost of sequencing services. In terms of solution, the market is categorized into services, consumables, and instruments, among which, the consumables category dominated the market in 2019.
This can be attributed to the rising number of samples that are being processed at labs, research centers, and several other end-use settings. In addition to this, the growing number of research projects are also resulting in the rising demand for consumables. On the basis of application, the genomics market is categorized into diagnostics, agriculture and animal research, precision medicine, and drug discovery & development. Among which, the diagnostics category held the major share of the market in 2019, owing to the rising research projects related to genetic diseases, including cancer.
When technology is taken into consideration, the genomics market is classified into microarray, polymerase chain reaction, and sequencing, out of which, the sequencing classification is predicted to witness the highest CAGR during the forecast period. The demand for this technology is growing rapidly, owing to its lowering cost. As per the National Human Genome research Institute, the cost of genome sequencing was about $10,000 in the mid-2011, which decreased considerably to $1,000 in 2018. This is expected to drive the adoption of sequencing, thereby leading to the growth of the market.
North America accounted for the largest share of the market in the past, which is because of the various ongoing genomics research projects, presence of major players, and increasing investments in the industry by both government and private organizations. The Asia-Pacific region is predicted to register the highest CAGR during the forecast period, as the number of research activities in the field to genomics is growing in countries including Japan, India, and China. Both public and private organizations are providing funding for innovations in genome research.
In conclusion, the market is being driven by increasing need for personalized medicine and rising support and initiatives by governments across the globe.
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- 10X Genomics Inc.
- Bio-Rad Laboratories Inc.
- Eppendorf AG
- F. Hoffmann-La Roche Ltd.
- Illumina Inc.
- QIAGEN N.V.
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 4. Introduction
Chapter 5. Global Market Size and Forecast
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
Chapter 12. Company Profiles
Chapter 13. Appendix
List of Tables
List of Figures
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- Bio-Rad Laboratories Inc.
- Agilent Technologies Inc.
- Quest Diagnostics Inc.
- Danaher Corporation
- QIAGEN N.V.
- F. Hoffmann-La Roche Ltd.
- Eurofins Scientific SE
- Pacific Biosciences of California Inc.
- GENEWIZ Inc.
- Psomagen Inc.
- BGI Tech Solutions Co. Ltd.
- Oxford Nanopore Technologies Ltd.
- 10X Genomics Inc.
- Eppendorf AG
- Thermo Fisher Scientific Inc.
- Illumina Inc.
Note: Product cover images may vary from those shown
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