The Global Genomics Market is expected to reach USD
22.1 billion by 2020, growing at an estimated CAGR of 10.3% from 2014 to 2020. Genomics play an
imperative role in the field of infectious disease testing by enabling the use
of fast and effective result rendering molecular diagnostic tests. This,
coupled with growing prevalence of infectious diseases and hospital acquired
infections is expected to drive market growth during the forecast period. Other
driving factors for this market include decreasing prices of DNA sequencing,
increasing demand for genome analysis in animal and plant feedstock, extensive
presence of both private and public external funding programs and growing
patient awareness levels. In addition, presence of untapped growth
opportunities in emerging countries such as India, Brazil and China and the
increasing health awareness are expected to serve this market as future growth
opportunities.
Genomics based diagnostics dominated the overall
market in terms of revenue at 36.4% in 2013 majorly owing to the presence of a
relatively larger number of R&D programs. Genomics based personalized
medicine segment on the other hand is expected to grow at the fastest CAGR of
over 12.0% from 2014 to 2020 due to increasing demand for population based
therapeutic solutions and subsequent increase in R&D initiatives.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/genomics-market
Further
key findings from the study suggest:
- Consumables dominated the genomics market in terms of share at over 50% in 2013; mainly due to increasing rates of commercial adoption of genomic testing for various applications especially in the field of drug discovery and development.
- North America was the largest regional market in 2013, at over 35.0% owing to the presence of sophisticated healthcare infrastructure, high patient awareness levels, healthcare expenditure and relatively larger number of R&D exercises pertaining to drug discovery and development.
- Asia Pacific is expected to grow at the fastest CAGR of 12.7% from 2014 to 2020. Growing demand for cost effective clinical outsourcing and the presence of high unmet medical needs in emerging countries such as India and China are some of the factors attributing to the rapid market growth in this region.
- DNA sequencing is one of the most commonly used technologies in biological and medical research laboratories for various applications such as DNA-based phylogeny, DNA cloning, functional analysis of genes, genetic fingerprints identification, detection and diagnosis of hereditary and infectious diseases. On account of the growing demand for all these applications, this segment is expected to grow at the highest CAGR during the forecast period.
- Key industry participants of this market include Affymetrix, Inc., Agilent Technologies, BGI, Bio-Rad Laboratories Inc., GE Healthcare, Illumina Inc., Qiagen, Roche Diagnostics, Life Technologies and Cepheid.
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For the purpose of this study, Grand
View Research has segmented the genomics market on the basis of product,
application, technology and region:
Genomics
Product Outlook
• Instruments
• Consumables
• Services
Genomics
Application Outlook
• Diagnostics
• Personalized Medicines
• Drug Discovery and Development
• Academic Research
• Agriculture
Genomics
Technology Outlook
• PCR
• DNA Sequencing
• DNA Microarray
• Nucleic Acid Extraction and
Purification
Genomics
Regional Outlook
• North America
• Europe
• Asia Pacific
• RoW
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Research
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registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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