Which region accounted for the largest share in Global Genomics Market?

In 2021, the North American genomics market accounted for the largest revenue share of the worldwide market. The availability of money granted by both the government and firms investigating molecular biology are major drivers driving the North American market. Genomic technology is commonly used in pharmaceutical businesses to create high-class medications like IVT (in-vitro transcribed) mRNA. In addition, numerous important companies in the region provide effective genomics solutions. Due to the increased focus on increasing genetic research and development activities and government on encouraging research in the field of genomics and drastically reduced mass-scale genetic testing costs within the region, Asia-Pacific is expected to see significant growth during the forecast period of 2022 to 2028. Active government backing, particularly in the United Kingdom and England, through research funding and genomic analysis, as well as research and academic institutes, is expected to help the business expand in Europe.

Genomics Market Size, Share, Growth Analysis, By Product & Service(Consumables and Reagents, Services, Instruments, Systems), By Technology(Sequencing, PCR, Flow Cytometry, Microarrays), By End Use(Government and Academic Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Others), By Application(Drug Discovery & Development, Diagnostics, Agriculture & Animal Research, Other Applications), By Study Type(Functional Genomics, Biomarker Discovery, Pathway Analysis, Epigenomics), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Genomics Market?

Genomics Market size was valued at USD 27.81 billion in 2019 and is poised to grow from USD 33.25 billion in 2023 to USD 411.35 billion by 2031, growing at a CAGR of 19.4% in the forecast period (2024-2031).

Q: Who are the key vendors in the Global Genomics Market?

The Global Genomics Market is vast in nature with the presence of major companies in the market using operational strategies to promote their items and develop their market positions. One such strategy is to create new goods in collaboration with other firms in order to broaden their reach to end consumers. In August 2021, Genome Medical Announces the Acquisition of GeneMatters and the Closing of $60 Million Series C Financing. 'Illumina, Inc. (US)', 'Thermo Fisher Scientific (US)', 'Qiagen N.V.', 'BGI Group', 'F. Hoffmann-La Roche AG', 'Danaher Corporation', 'Pacific Biosciences of California, Inc.', 'Oxford Nanopore Technologies, Ltd.', 'Agilent Technologies, Inc.', 'Eurofins Scientific SE', 'Bio-Rad Laboratories, Inc.', 'Genewiz, Inc.', 'Myriad Genetics, Inc.', 'Fluidigm Corporation', 'PerkinElmer, Inc.', 'Twist Bioscience Corporation', 'Natera, Inc.', 'Veracyte, Inc.', 'Personalis, Inc.', '10x Genomics, Inc.'.

Q: What is the key driver of Global Genomics Market?

Global genomics market is being driven by increased application Next-Generation Sequencing (NGS) which is becoming more widely used in cancer research. Whole-genome sequencing, genome diversity inquiry, metagenomics, epigenetics, the discovery of non-coding RNAs and protein-binding sites, and gene-expression profiling by RNA sequencing are all applications of NGS technologies contributing to capturing the genomics market share.

Report ID: SQMIG35H2173 | Region: Global | Published Date: August, 2024
Pages: 165 | Tables: 121 | Figures: 77

Genomics Market Insights

Genomics Market size was valued at USD 27.81 Billion in 2022 and is poised to grow from USD 33.25 Billion in 2023 to USD 411.35 Billion by 2031, growing at a CAGR of 19.4% in the forecast period (2024-2031).

Genomics is the study of genomes, which is the structure, function, evolution and mapping of an organism’s DNA. Overall, the market has influenced this area of human life in a great way over the years. Hence, medicine and biomedical sciences are in the process of a rapid transformation due to the genomics revolution. The increasing global cancer incidence has led to higher levels of government support in the form of grants for genomics projects. The idea of personalized medicine has been made possible by studying the Human Genome and has revolutionized the way clinical oncology and rare genetic disorders are managed/ treated.

Academics are increasingly exploring the link between genetics and cognitive disorders, to better understand the brain's role in these conditions. Because of the increasing amount of research conducted on cancer and cancer therapy, the growing need for simple and rapid clinical diagnosis, and increased investment in R&D by government organizations and biopharmaceutical companies, the genomics market is experiencing rapid revenue growth.

US Genomics Market is poised to grow at a sustainable CAGR for the next forecast year.

Genomics Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

The genomics market is vast in nature with the presence of major companies in the market using operational strategies to promote their items and develop their market positions. One such strategy is to create new goods in collaboration with other firms in order to broaden their reach to end consumers. In August 2023, Genome Medical Announces the Acquisition of Gene Matters and the Closing of $60 Million Series C Financing. 'Illumina, Inc. (US) ', 'Thermo Fisher Scientific (US) ', 'Qiagen N.V. (Netherlands) ', 'BGI Group (China) ', 'F. Hoffmann-La Roche AG (Switzerland) ', 'Danaher Corporation (US) ', 'Pacific Biosciences of California, Inc. (US) ', 'Oxford Nanopore Technologies, Ltd. (United Kingdom) ', 'Agilent Technologies, Inc. (US) ', 'Eurofins Scientific SE (Luxembourg) ', 'Bio-Rad Laboratories, Inc. (US) ', 'Myriad Genetics, Inc. (US) ', 'Fluidigm Corporation (US) ', 'PerkinElmer, Inc. (US) ', 'Twist Bioscience Corporation (US) ', 'Natera, Inc. (US) ', 'Veracyte, Inc. (US) ', 'Personalis, Inc. (US) ', '10x Genomics, Inc. (US) ', 'Quest Diagnostics (US)'

Genomics market is being driven by increased application Next-Generation Sequencing (NGS) which is becoming more widely used in cancer research. Whole-genome sequencing, genome diversity inquiry, metagenomics, epigenetics, the discovery of non-coding RNAs and protein-binding sites, and gene-expression profiling by RNA sequencing are all applications of NGS technologies contributing to Genomics market growth.

Switch to a customised Illumina global screening array (GSA) microarray instead of the Illumina OmniExpress chip. The OmniExpress chip from Illumina will be phased out in favour of the GSA chip. As a result, organisations like Ancestry.com will be obliged to convert to the GSA, acquire Thermo Fisher Scientific goods, or implement next-generation sequencing technology if they continue to utilize this equipment.

North America dominated the market in terms of genomics market share in 2023 with a share of 42%. 65%, due mostly to the increased backing from research organizations and pharmaceutical companies. They keep changing the genetics, expression and health and therefore their influence makes genomics important in disease and drugs development. Some examples include the combination project initiated in January 2022 between Illumina, Inc. and Nashville Biosciences, LLC which is affiliated to the Vanderbilt University Medical Center. This collaboration will employ genomics for the purposes of drug discovery and create the best clinico-genomic resource.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Genomics Market Insights

Genomics Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Genomics Market?

Who are the key vendors in the Genomics Market?

What is the key driver of Genomics Market?

What is the key market trend for Genomics Market?

Which region accounted for the largest share in Genomics Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300