Genomics Market exhibiting CAGR of 16% from 2023 to 2032, owing to the growing prevalence of cancer and genetic disorders | insightSLICE
The global Genomics market size was estimated to be US$ 25 billion in 2021 and is expected grow at a CAGR of 16% between 2023 to 2032.
The study of an individual’s full set of genes along with the factors and characteristics between those genes and their present expression is known as genomics. Your genome holds a wealth of crucial data about yourself, from your ancestry to how your body responds to diseases, medications, and aging.
The rapidly growing area of genomics is transforming our understanding of human diseases, disorders, metabolic, etc, while also enabling advancements that benefit all of humankind.
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The key players of the Global Genomics Market are: Illumina, Inc., Oxford Nanopore Technologies, Danaher Corporation, Thermo Fisher Scientific Inc., Qiagen N.V., F. Hoffman-La Roche, BGI, BioDiscovery, Veritas Genetics International, Eurofins Scientific, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Merck KGaA, Eppendorf AG, Promega Corporation, Creative Biogene, Macrogen, Inc., New England Biolabs, Source BioScience, Bionano Genomics, and start-up companies such as Helix OpCo, LLC, MedGenome, Resilient Biotics, Inc., Personal Genome Diagnostics Inc., 23andMe, Personalis, Phalanx Biotech Group, Novogene Co., Ltd., TruGenomix Health, and Cradle Genomics.
Uses of genomics tools and its growth potential:
One of the main applications of genomics, which is primarily known as functional genomics, is the examination of traits at the functional level and their mechanism.
The key factors influencing the global genomics market are indeed the rising implementation of supportive government initiatives, declining costs for sequencing services, and the surging demand for personalized medicine.
It will set forth developing opportunities for the local market when combined with a growing collection of fresh sequencing breakthroughs. A further aspect contributing to the market’s expansion is the growing preference for bespoke medications.
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Clinics and centers are switching in recent years from conventional genetic testing methods to pragmatic and complex tactics, including whole-exome sequencing, which is one of the factors driving the market’s growth.
Organizations have been offering direct-to-customer genetic testing for a few years, which has resulted in a change in strategy.
The main factors influencing the growth of this market are the widening government funding for genomics initiatives, the rising incidence of cancer and the growing use of NGS in research and treatment, the influx of new players and businesses into the genomics market, as well as the widening disciplines of use for genomics.
Report for the genomics market will cover all major statistics:
Market share statistics, significant trends, and projections through the year 2032 are all included in the research titled “Global Genomics Market for the Year 2022.” The report also considers the competitive environment of the genomics industry and provides top companies with a business profile and market forecast.
Additionally, the study will include information on the main technologies, sales networks, company growth plans, R&D initiatives, employee and key executive portfolios, and all other significant market participants.
The study will pinpoint different segments of the global genomics market and will give an in-depth analysis of key competitors with a lion’s share of the industry. Additionally, according to recent statistics, market shares of well-known businesses in the worldwide genomics industry will be evaluated.
The report also takes into account crucial competitive data from all the firms operating in the genomics industry, such as strategic planning, product offerings, key developments, business objectives, and research plans.
The participants in the industry’s supply chain and value chain, as well as their contributions, will be taken into account in the study of the global genomics market. All of the goods offered by the Genomics business section of such organizations will be the emphasis of the product management segment.
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The section on current developments will likewise concentrate on the most recent corporate activities, including plans for product launches, mergers and acquisitions, strategic partnerships, sponsorships, and regional expansion in the global genomics market.
Global Genomics Market Key Segments:
By Product and Service
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- Systems & Software
- Consumables
- Services
By Technology
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- Sequencing
- Microarray
- PCR
By Application
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- Diagnostic Application
- Precision Medicine
By Geography
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- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
- North America
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