Genomics Market was worth US$ 23.18 Bn. in 2021 and total revenue is expected to grow at a rate of 15.35% CAGR from 2021 to 2029, reaching almost US$ 72.67 Bn. in 2029.
Genomics Market Overview
The Genomics market is covered in detail in the Maximize Market research report. The report focuses on emerging market trends and key growth factors in order to help market participants spot possibilities in the Genomics market. The report includes a thorough analysis of the Genomics market, as well as market financials such as market size from 2015 to 2020, with 2020 serving as the base year and forecast years 2022-2029. The Maximize Market Research report, categorizes the Genomics industry by product type, application areas, and geographies, covers the market's breadth and segments.
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Genomics Market Scope
The research estimates the size of the Genomics market in terms of value and volume. It includes a thorough analysis of the market's major drivers, restraints, and opportunities. Through Porter's five forces analysis, the study examines the major elements that contribute to the growth of the Genomics market. Furthermore, the Genomics market participants have been profiled, with a particular emphasis on their product offers.
Market Dynamics:
Government support for genomics projects is growing. The cost of researching tumour treatments in the US will exceed $150 billion in 2021. In India, the department of biotechnology has launched the "Genome India Project." To create a reference genome, 10,000 samples are being collected as part of that project. For 36 research projects, the Ministry of Science and Sport of Canada raised $33.4 million in funding. How much and to what extent the medical community will use current genomic information in personalised medicine is one of the crucial factors that is likely to have a significant impact on the genomics market.
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Segmentation:
The market is divided into Sequencing, Microarray, PCR, Nucleic Acid Extraction and Purification, and Others based on technology. The market for genomics is expanding primarily due to technological advancements, an increase in genomics research, and decreased costs for DNA amplification using PCR. The market is primarily driven by technological investment and DNA expansion using PCR. Sequencing technology has benefits like ultra-high throughput, scalability, and high speed. It is used for a variety of tasks, including farming and animal breeding.
The market is further divided into the Application sub-segments of Diagnostic, Drug Discovery, Precision Medicine, and Others. The genomics market's largest and fastest-growing application segment is diagnostics. The expansion of this market can be attributed to rising study of diseases like cancer and genetic disorders as well as falling sequencing costs. With more research being done on diseases like cancer and genetic disorders, along with lower sequencing costs, the drug discovery segment is currently holding the second-place spot in the market.
Key Players:
• Thermo Fisher Scientific Inc
• Illumina Inc.
• QIAGEN N.V.
• Agilent Technologies Inc
• Eurofins Scientific
• BGI
• GE Healthcare
• Bio-Rad Laboratories Inc
• F. Hoffmann-La Roche Ltd
• Oxford Nanopore Technologies
• Beijing Genomics Institute
• Foundation Medicine, Inc
• 23andMe, Inc
• Pacific Biosciences of california
• Myriad Genetics, Inc.
Regional Analysis
The research report gives a detailed analysis of the Genomics market that is divided into regions. The report includes an evaluation of regional market participants operating in the market, as well as findings pertinent to the target Genomics market. On a regional and country-by-country basis, the study evaluates the market in North America, Latin America, Europe, Asia Pacific (APAC), Africa, and the Middle East. Each region's market is thoroughly researched, allowing for the discovery of regional market trends, constraints, and growth potential.
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Key Questions answered in the Genomics Market Report are:
- What is Genomics Market?
- What is the forecast period of the Genomics Market?
- What is the competitive scenario of the Genomics market?
- Which region held the largest market share in the Genomics Market?
- What are the opportunities for the Genomics Market?
- What factors are affecting the Genomics market growth?
- Who are the key players of the Genomics market?
- Which company held the largest share in the Genomics market?
- What will be the CAGR of the Genomics market during the forecast period?
- What key trends are likely to emerge in the Genomics market in the coming years?
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