The global genomics market size reached US$ 29.4 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 68.8 Billion by 2028, exhibiting a growth rate (CAGR) of 15% during 2023-2028.
Genomics is the study of the function, mapping, structure, evolution, and genomes (genes) of an individual. It relies on consumables, systems, software, and services for diagnostics, drug discovery, development of precision medicine, and agricultural research. It aids in providing diagnostic and predictive insights that help healthcare professionals in research and finalizing treatment options for diseases, such as Alzheimer's, diabetes, and cancer. As a result, it is utilized around the world in studying biological systems and solving complex genetic problems in hospitals, private clinics, diagnostic, and research centers.
Significant advancements in the genomic field, increasing prevalence of chronic and infectious disorders among the masses, and rising preferences for personalized medicines are major factors bolstering the market growth. It can also be attributed to the growing adoption of non-invasive cancer screening-based research. In addition, the expanding global population, changing climatic conditions, rising food security concerns, and spreading awareness about the harmful effects of chemical-based fertilizers are driving the need for genomics to improve crop yield. This, in confluence with the shifting consumer preferences for organic food products, is contributing to the market growth. Furthermore, expanding investments in research and development (R&D) of biotechnology, coupled with extensive improvements in medical infrastructure and diagnostic technologies, are creating a positive outlook for the market. Apart from this, the integration of genomics-based apps and tests to identify DNA alterations is offering lucrative growth opportunities to industry investors.
2. What is the expected growth rate of the global genomics market during 2023-2028?
3. What are the key factors driving the global genomics market?
4. What has been the impact of COVID-19 on the global genomics market?
5. What is the breakup of the global genomics market based on the component?
6. What is the breakup of the global genomics market based on the application?
7. What is the breakup of the global genomics market based on the technology?
8. What is the breakup of the global genomics market based on the end-user?
9. What are the key regions in the global genomics market?
10. Who are the key players/companies in the global genomics market?
Genomics is the study of the function, mapping, structure, evolution, and genomes (genes) of an individual. It relies on consumables, systems, software, and services for diagnostics, drug discovery, development of precision medicine, and agricultural research. It aids in providing diagnostic and predictive insights that help healthcare professionals in research and finalizing treatment options for diseases, such as Alzheimer's, diabetes, and cancer. As a result, it is utilized around the world in studying biological systems and solving complex genetic problems in hospitals, private clinics, diagnostic, and research centers.
Significant advancements in the genomic field, increasing prevalence of chronic and infectious disorders among the masses, and rising preferences for personalized medicines are major factors bolstering the market growth. It can also be attributed to the growing adoption of non-invasive cancer screening-based research. In addition, the expanding global population, changing climatic conditions, rising food security concerns, and spreading awareness about the harmful effects of chemical-based fertilizers are driving the need for genomics to improve crop yield. This, in confluence with the shifting consumer preferences for organic food products, is contributing to the market growth. Furthermore, expanding investments in research and development (R&D) of biotechnology, coupled with extensive improvements in medical infrastructure and diagnostic technologies, are creating a positive outlook for the market. Apart from this, the integration of genomics-based apps and tests to identify DNA alterations is offering lucrative growth opportunities to industry investors.
Key Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global genomics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, application, technology, and end-user.Breakup by Component:
- Products
- Instruments and Software
- Consumables and Reagents
- Services
- Core Genomics Services
- NGS-Based Services
- Biomarker Translation Services
- Computational Services
- Others
Breakup by Application:
- Functional Genomics
- Epigenomics
- Biomarkers Discovery
- Pathway Analysis
- Others
Breakup by Technology:
- Sequencing
- Microarray
- Polymerase Chain Reaction
- Nucleic Acid Extraction and Purification
- Others
Breakup by End-User:
- Research Centers
- Hospitals and Clinics
- Pharmaceutical and Biotechnology Companies
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are 23andMe, Inc, Agilent Technologies, Inc., Bayer AG, BGI Group, Bio-Rad Laboratories, Inc., Danaher Corporation, Illumina, Inc., Oxford Nanopore Technologies, PerkinElmer, Inc., Myriad Genetics, Inc., F. Hoffmann-La Roche Ltd, and Thermo Fisher Scientific Inc.Key Questions Answered in This Report
1. What was the size of the global genomics market in 2022?2. What is the expected growth rate of the global genomics market during 2023-2028?
3. What are the key factors driving the global genomics market?
4. What has been the impact of COVID-19 on the global genomics market?
5. What is the breakup of the global genomics market based on the component?
6. What is the breakup of the global genomics market based on the application?
7. What is the breakup of the global genomics market based on the technology?
8. What is the breakup of the global genomics market based on the end-user?
9. What are the key regions in the global genomics market?
10. Who are the key players/companies in the global genomics market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Indicators
2 Scope and Methodology
4 Introduction
5 Global Genomics Market
6 Market Breakup by Component
7 Market Breakup by Application
8 Market Breakup by Technology
9 Market Breakup by End-User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 23andMe Inc.
- Agilent Technologies Inc.
- Bayer Aktiengesellschaft
- BGI Genomics Co. Ltd.
- Bio-RAD Laboratories Inc.
- Danaher Corporation
- Illumina Inc.
- Oxford Nanopore Technologies
- PerkinElmer Inc.
- Myriad Genetics Inc.
- Roche Holding AG
- Thermo Fisher Scientific Inc.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 139 |
Published | October 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 29.4 Billion |
Forecasted Market Value ( USD | $ 68.8 Billion |
Compound Annual Growth Rate | 15.2% |
Regions Covered | Global |
No. of Companies Mentioned | 12 |