Genomics market Exhibit a Remarkable CAGR 16.37% Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook

Data Bridge Market Research analyses that the genomics market which was USD 31.56 billion in 2022, is expected to reach USD 106.14 billion by 2030, growing at a CAGR of 16.37% during the forecast period of 2023 to 2030.

Market Overview

Genomics is the study of deciphering, interpreting, applying, and interpreting DNA code to various problems. Genomics is one of the most helpful technologies in today's world. Genomics is significant for genome sequencing as different generic variants can be identified through genomics which can be riskier for asymptomatic people for disease development. Genomics helps identify different undiscovered antimicrobial compounds and for keeping bacterial diseases away.

Explore Further Details about This Research Genomics Market Report https://www.databridgemarketresearch.com/reports/global-genomics-market

Genomics Market Dynamics

Drivers

Growing incidence of cancer

The incidence of cancer and the increasing applications of next-generation sequencing in cancer research is a significant factors helping in the market's growth. Genomics is modifying the way cancer is diagnosed and treated. Genome research is improving the methods of diagnosing cancer using a blood sample. Screening tests to find cancer that are inherited are increasing due to genomics.  Therefore, the growing incidents of cancer and the successful use of genomics for diagnosing and treating cancer are boosting the market's growth.

Implementation of artificial intelligence

Artificial intelligence (AI) implementation in genomics has increased in the past few years. The data generated through sequencing technologies are analysed by artificial intelligence algorithms, enabling quick and precise diagnosis of genetic variations responsible for a particular disease. Artificial intelligence is also used to develop personalized patient treatment plans. This helps doctors prescribe the most beneficial treatment for the patient. Thus, the use of artificial intelligence provides accurate results, therefore, AI is becoming a major opportunity for the market's growth.  

Opportunities

Research and development on genomics

The growing focus on genomics research and developments is contributing to the growth of the genomics market. In July 2022, WHO's Science Council of Experts was launched for the equitable expansion of genomics. It includes a focus on increasing access to genomic technologies, majorly in countries with low and middle incomes, by directing the shortfalls in the financing, materials, highly trained professionals, and laboratory infrastructure. Therefore, all these initiatives are expected to help in the significant growth of the market.

Some of the major players operating in the genomics market are:

Agilent Technologies, Inc. (U.S.)
Bio-Rad Laboratories, Inc. (U.S.)
BGI (China)
Color Health, Inc. (U.S.)
Danaher  (U.S.)
Eppendorf SE (Germany)
Eurofins Scientific (Luxembourg)
F. Hoffmann-La Roche Ltd. (Switzerland)
GE Healthcare (U.S.)
Illumina, Inc. (U.S.)
Myriad Genetics, Inc. (U.S.)
Oxford Nanopore Technologies plc. (U.K.)
PacBio (U.S.)
QIAGEN (Germany)
Diagnostics Incorporated (U.S.)
Thermo Fisher Scientific, Inc. (U.S.)
23andMe, Inc. (U.S.)
FOUNDATION MEDICINE, INC. (U.S.)
IntegraGen (France)
Genome Diagnostics Pvt. Ltd. (India)
Cytiva (U.S.) 

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2023-2029
Genomics Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations

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