Global Genomics Market: Size, Trends & Forecast with Impact Analysis of COVID-19 (2022-2026)

The report titled “Global Genomics Market: Size, Trends & Forecast with Impact Analysis of COVID-19 (2022-2026)”, provides an in depth analysis of the Global genomics market by value, by product & services, by technology, by application, by end-user, by region, etc. The report provides a regional analysis of the genomics market, including the North America, Europe, Asia-Pacific, and Rest of World. The report also provides a detailed analysis of the COVID-19 impact on the Genomics market.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall genomics market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The Global genomics Market is fragmented with many major market players operating worldwide. The laboratories of genomics have launched different types of products to cater to the different needs worldwide. The key players of the Global genomics market are Thermo Fisher Scientific Inc., Qiagen N.V., Illumina Inc. and Agilent Technologies Inc. are also profiled with their financial information and respective business strategies.

Company Coverage

Thermo Fisher Scientific Inc.
Qiagen N.V.
Illumina Inc.
Agilent Technologies Inc.

Regional Coverage

North America
Europe
Asia Pacific
Rest of World

Executive Summary

Genomics is the study of all of a person's genes (the genome), including interactions of those genes with each other and with the person's environment. Structural genomics, comparative genomics, and functional genomics are the three major disciplines of genomics.

The genomics market can be segmented on the basis of products & services (consumables, systems and software, and services), technology (sequencing, polymerase chain reaction (PCR), nucleic acid extraction and purification, microarray, and others), application (diagnostics, drug discovery and development, personalized medicine, agriculture & animal research, and others), and end-user (pharmaceutical & biotechnology companies, hospitals & clinics, academic & government institution, clinic research, and others).

While most of the industries worldwide suffered a negative impact of COVID-19, the Global genomics market witnessed a positive impact on it. The impact of a pandemic can be felt throughout multiple healthcare sectors, resulting in a variety of changes in the health care industry. Initially, scientists worked together to create and share genetic sequence data information, which was then used to aid in disease diagnosis and control efforts. With genomic sequencing, the market was able to track coronavirus variants as scientists warned that new variants increase the prevalence of infections and hospitalizations.

The Global genomics market has increased during the years 2019-2021 and projections are made that the market would rise in the next four years i.e. 2022-2026. The global genomics market is expected to increase due to the rising cancer incidence, fall in sequencing pricing, advent of industrial policy and inflow of pharmaceutical investments, favorable government initiatives in genomics, increasing prevalence of chronic diseases, increasing technological advancements in genomics field, rising demand for genetically modified crops (GMO crops), and growth in biotechnology sector. Yet the market faces some challenges such as, complexities and uncertainties, dearth of trained professionals, etc.