"Designing Growth Strategies is in our DNA"
The global genomics market size was USD 15,888.8 Million in 2018 and is projected to reach USD 62,614.6 Million by the end of 2026, exhibiting a CAGR of 18.7% between 2019-2026
Genomics has proven its potential in changing the way of prevention, management, and treatment of diseases. From traditional treatment methods, the healthcare environment is gradually shifting towards precision medicine, in which genomics is playing a vital role. Genomics has emerged as a useful tool for the diagnosis of diseases, especially cancer. This has surged the demand for genomics products and services.
The need for storage, sequencing, and analysis of large DNA information has paved its way for the launch of new products and software. Also, many startup companies are now emerging to directly provide genomics services, ancestry services, etc. to customers. Furthermore, the increased research spending and an increase in the number of government-aided genomic institutes are expected to drive the genomics market share.
Request a sample to learn more about this report.
"Services are expected to emerge as the most attractive segment"
Genomic products include both instruments, software, and consumables. The product segment is estimated to dominate the genomics industry throughout the forecast period. The primary reasons attributed to its growth are the high volume demand, usage of consumables, and new product launch.
The emerging need for new platforms to analyze the huge amount of genetic information has resulted in the launch of new software and fully automated products. In October 2018, Helix OpCo LLC announced the launch of DNA Product Studio to enable the development of genomics-based apps and tests, which is anticipated to augment the demand for genomic products. On the other hand, the services segment is estimated to report remarkable genomics market growth owing to the increasing demand for next-generation sequencing services, decrease in sequencing cost encouraging patients to opt for genomic tests and rapid adoption of direct-to-customer genomics services.
To know how our report can help streamline your business, Speak to Analyst
In terms of technology, the market is categorized into Polymerase Chain Reactions (PCR), Next-generation Sequencing (NGS), microarray, Sanger sequencing, and others. The Polymerase Chain Reactions (PCR) accounted for the maximum share in the market in 2018, owing to the prominent usage of the technology and its easy availability across the globe. Based on application, the market is divided into diagnostics, research, and others. Various end users covered under the report are research institutes, healthcare facilities & diagnostic centers, biotechnological and pharmaceutical companies, and Contract Research Organization (CROs).
"North America to Dominate the Market"
North America dominated the market in 2018. The market in the region was valued at USD 6,959.3 Million in 2018. The rapid adoption of new sequencing technologies, adoption of personalized medicines, increased focus on pharmacogenomics, and advancement in bioinformatics are the major factors which are expected to render a leading position to North America in the market throughout the forecast period.
Strong government support through research investment and genomic research institutes, especially in the U.K., are projected to favor the expansion of market in Europe. Asia Pacific is expected to register the highest CAGR in the market during the forecast years owing to the higher demand for genetic sequencing and testing in China, growing aging population, and expanding health care system.
North America Genomics Market, 2018
To get more information on the regional analysis of this market, Request a sample
"Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, and Illumina, Inc. to Account for the Largest Market Share in Terms of Revenue"
Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, and Illumina, Inc. are estimated to acquire a leading position in the market owing to their diversified product portfolio, strong geographical presence, and prominent position in genomics services. In November 2018, Illumina, Inc., announced the acquisition of Pacific Biosciences, one of the leading company in market which is projected to increase the market share as well as strengthen Illumina‘s position in the genomics industry during the forecast period. Other key players operating in the market are Thermo Fisher Scientific Inc., Oxford Nanopore Technologies, Danaher, QIAGEN, BGI, IntegraGen, and others.
Genomics has emerged as a new revolution in the diagnosis and treatment of diseases. The application of genomics is expanding in the medical field, especially in the diagnosis of cancer. In addition, the emergence of new sequencing techniques such as next-generation sequencing, nanopore technologies, etc. has lowered the cost of sequencing, which has accelerated the demand for genomics testing and genomic informatics services. Many pharmaceutical and biotechnological companies are now focusing on pharmacogenomics for drug development. The higher adoption of precision medicine increased research spending, and increasing demand for genomics services are expected to positively impact the market sales.
The report provides qualitative and quantitative insights on the genomics market trends and detailed analysis of market size and growth rate for all possible segments in the market. The market is segmented by type, technology, application, end user, and region. On the basis of type, the global market is segmented into products and services. The product segment can be further bifurcated into instruments & software and consumables. Based on technology, the market is segmented into Polymerase Chain Reactions (PCR), Next-generation Sequencing (NGS), microarray, Sanger sequencing, and others. In terms of application, the genomics industry is divided into diagnostics, research, and others. Various end users covered under the report are research institutes, healthcare facilities & diagnostic centers, pharmaceutical & biotechnological companies, and Contract Research Organization (CROs). Geographically, the market is segmented into four major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries.
To gain extensive insights into the market, Request for Customization
Along with this, the genomics market analysis report provides elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the genomics research spending for key countries, overview of genomics service providers, new product launch, the regulatory scenario for key countries, startups with their funding overview, recent industry developments such as mergers & acquisitions, and key industry trends.
- Instruments & Software
· Polymerase Chain Reaction
· Next-generation Sequencing
· Sanger Sequencing
By End User
· Research Institutes
· Healthcare Facilities & Diagnostic Centers
· Pharmaceutical & Biotechnological Companies
· Contract Research Organization (CROs)
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Fortune Business Insights says that the market is projected to reach USD 62,614.6 Million by 2026.
In 2018, the market was valued at USD 15,888.8Million.
Growing at a CAGR of 18.7%, the market will exhibit faster growth in the forecast period (2019-2026)
Product segment is expected to be leading in the market during the forecast period.
Increased expenditure on research to drive the global market.
Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, and Illumina, Inc. are the top players in the market.
North America is expected to hold the highest market share in the market.
Emergence of personalized medicine, third-generation sequencing, and gene regulation are the trends expected to increase the market value of genomics.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry