Genomics Market Analysis and Forecast to 2033: By Products & Services (Consumables & Reagents, Services, Instruments, Systems & Software), Technology (Sequencing, PCR, Flow Cytometry, Microarrays, Others), Application (Diagnostics, Drug Discovery and Deve

Genomics Market Analysis and Forecast to 2033: By Products & Services (Consumables & Reagents, Services, Instruments, Systems & Software), Technology (Sequencing, PCR, Flow Cytometry, Microarrays, Others), Application (Diagnostics, Drug Discovery and Development, Agriculture and Animal Research, Others), Study Type (Functional Genomics, Biomarker Discovery, Pathway Analysis, Epigenomics, Others), End-Use (Research Centers and Academic Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Others), and Region

Genomics is the study of genes and their function. The market for genomics is expected to grow in the coming years as the technology becomes more affordable and accessible.

Products in the genomics market include sequencing, microarrays, and PCR. Sequencing is the most popular product, accounting for over half of the market share. Microarrays are used for gene expression and SNP analysis, while PCR is used for DNA amplification and sequencing.

The applications of genomics include drug discovery, disease diagnosis, and agricultural biotechnology. The drug discovery market is the largest application, accounting for over half of the market share. Genomics is also used in disease diagnosis, such as cancer, and in agricultural biotechnology, such as crop improvement.

The global Genomics Market was valued at US$ 45.9 billion in 2023 and it is anticipated to grow up to US$ 126.8 billion by 2033, at a CAGR of 10.5% during the forecast period.

Global Genomics Market Scope and Report Structure

Key Trends and Drivers

The key trends in the genomics market are the increasing demand for personalized medicine and the increasing funding for genomics research.

Restraints & Challenges

The key restraints in the market are the high cost of sequencing and the lack of skilled labor. The challenges in the market are the need for data storage and data management, the need for data interpretation and data analysis, and the need for data security.

Global Genomics Market Segmental Overview

The report analyses the global Genomics Market based on technology, application, product & services, study type, end-use, and region.

Global Genomics Market by End User

Based on end user, the Genomics Market is segmented into hospitals & clinics, academic & research institutes, pharmaceutical & biotechnology companies, and others. The academic & research institutes segment is expected to dominate the market during the forecast period.

Global Genomics Market by Study Type

By study type, the market is classified into functional genomics, biomarker discovery, pathway analysis, epigenomics, and others. The epigenomics segment dominated the market in 2023 in terms of revenue and is expected to dominate the market during the forecast period

Global Genomics Market by Technology

Based on technology, the Genomics Market is segmented into sequencing, PCR, flow cytometry, microarrays, and others. In 2023, the sequencing segment dominated the market in terms of revenue and is expected to be the same during the upcoming years.

Global Genomics Market by Product & Services

          
Based on Product & Services, the Genomics Market is segmented into consumables & reagents, services, and instruments, systems & software. The consumables & reagents segment is expected to dominate the market during the forecast period.

Global Genomics Market by Application

       
Based on application, the Genomics Market is segmented into drug discovery & development, diagnostics, agriculture & animal research, and others. The drug discovery & development segment is expected to dominate the market during the forecast period.

Geographical Analysis of Global Genomics Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America has the biggest market share in terms of Genomics Market value followed by Asia Pacific. There are several factors contributing to the growth of the genomics market in the region. These include favorable initiatives by government and private bodies, as well as the increasing adoption of NGS and PCR-based diagnostics. Additionally, there has been a rise in the number of genomics startups and an increase in cancer research. Growing awareness of genomics services has also played a role, along with the presence of major players in the market, such as Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), and Danaher Corporation (US).

Key Players

The Genomics Market Report includes players such as

Oxford Nanopore Technologies (U.K),

Danaher Corporation (U.S),

Thermo Fisher Scientific Inc. (U.S),

Eurofins Scientific (Luxembourg),

F. Hoffmann-La Roche Ltd. (Switzerland),

Illumina Inc. (U.S),

Bio-Rad Laboratories (U.S),

Agilent Technologies (U.S),

Eppendorf (Germany),

GE Healthcare Inc. (U.S), among others.

Recent Developments

• In March 2023, Illumina, Inc (US) has introduced Connected Insights, a new cloud-based platform that enables tertiary analysis of clinical next-generation sequencing data. This program will aid in genomic profiling (CGP) for advanced malignancies, whole-genome sequencing for uncommon disorders, and other sophisticated applications.
• In February 2023, Eppendorf AG (Germany) expanded its production facilities in China by securing a contract to develop a new plant in Shanghai.
• In February 2023, TrueMark STI Select Panel, a polymerase chain reaction (PCR) test developed for research purposes only, detects Chlamydia trachomatis, Neisseria gonorrhoeae, Trichomonas vaginalis, and Mycoplasma genitalium.

Genomics Market Report Coverage:

• The report offers a comprehensive quantitative as well as qualitative analysis of the current Genomics Market outlook and estimations from 2023 to 2033, which helps to recognize the prevalent opportunities.
• The report also covers qualitative as well as quantitative analysis of Genomics Market in terms of revenue ($Million).
•  Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Genomics industry.
• A thorough analysis of market trends and restraints is provided.
•  By region as well as country market analysis is also presented in this report.
• Analytical depiction of the Genomics Market along with the current trends and future estimations to depict imminent investment pockets. The overall Genomics industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
• Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Genomics Market are also analyzed.

Frequently Asked Questions

Q1.

How big is the Genomics Market?

Ans.

The global Genomics Market size was US$ 45.9 billion in 2023 and is anticipated to reach US$ 126.8 billion in 2033, growing at a rate of 10.5% from 2023 to 2033.

Q2.

What is the Genomics Market growth rate?

Ans.

The growth rate of the Genomics Market is 10.5% from 2023 to 2033.

Q3.

Which region holds a major market share for the Genomics Market?

Ans.

North America holds a major market share of the Genomics Market in 2022.

Q4.

Which segment accounted for the largest Genomics Market share?

Ans.

Based on end user, the Genomics Market is segmented into hospitals & clinics, academic & research institutes, pharmaceutical & biotechnology companies, and others. The academic & research institutes segment is expected to dominate the market during the forecast period.

Q5.

Who are the key players in the Genomics Market?

Ans.

The global Genomics Market report includes players such as
Oxford Nanopore Technologies (U.K),

Danaher Corporation (U.S),

Thermo Fisher Scientific Inc. (U.S),

Eurofins Scientific (Luxembourg),

F. Hoffmann-La Roche Ltd. (Switzerland),

Illumina Inc. (U.S),

Bio-Rad Laboratories (U.S),

Agilent Technologies (U.S),

Eppendorf (Germany),

GE Healthcare Inc. (U.S), among others.

Q6.

What are the factors driving the Genomics Market growth?

Ans.

The major factor driving the growth of the market is the increasing demand for personalized medicine and the increasing funding for genomics research..

Q7.

What are the key growth strategies of Genomics Market players?

Ans.

The key growth strategies of Genomics Market players are product launch, partnerships, and government initiatives.

Q8.

Which region will provide more business opportunities for the Genomics Market during the forecast period?

Ans.

The North America region will provide more business opportunities for the Genomics Market during the forecast period.
 

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