Press release
"Genomics Market Poised for Remarkable Growth, Projected to Surpass $83.81 Billion by 2030"
Genomics Market
The Genomics Market was worth US$ 30.84 Bn in 2023.
The total revenue is expected to grow at a CAGR of 15.35% from 2024 to 2030, reaching almost US$ 83.81 Bn in 2030.
To Know More About The Report:https://www.maximizemarketresearch.com/market-report/global-genomics-market/29263/
Report Scope:
The report provides a comprehensive analysis of the global Genomics Market, covering its dynamics, segmentation, and regional insights. It offers a detailed understanding of the market's growth drivers, restraints, and future opportunities.
Research Methodology:
The report employs advanced research methodologies, including PORTER and PESTEL analysis, to provide an in-depth understanding of the market's drivers, restraints, and regional insights.
Market Drivers:
Increasing government funding for genomics projects and research.
Growing applications of genomics in personalized medicine, pharmacogenomics, diagnostics, and toxicogenomics.
Rising demand for genetically modified organisms and animals.
Technological advancements and declining costs of genetic sequencing methods.
Market Restraints:
Complexity involved in analyzing large genomic data sets.
Shortage of trained professionals in genomics and bioinformatics.
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Regional Insights:
North America accounted for over 39% of the global genomics market in 2023, driven by abundant funding and the presence of numerous companies undertaking molecular biology research.
Europe is witnessing significant growth, supported by initiatives undertaken by the European Union to encourage genomics research.
The Asia Pacific region is anticipated to experience the most significant growth during the forecast period due to strengthening economies in countries like India and China, and increased government focus on genomics research.
Genomics Market Segment Analysis:
by Product & Service
Consumables
Systems and software
Services
The market is divided into three sub-sectors based on product and service: consumables, systems and software, and services. In 2023, consumables will have the largest market share. Consumables are still being used in the genomic system and are being used in more and more genomic tests worldwide. This is among the elements influencing the market. The segment's revenue is produced by the major players' use of reagent and nucleic acid. With the debut of a product intended to make whole genome sequencing accessible and inexpensive for labs of all sizes in June 2021, Illumina Inc. announced the NovaSeqTM 6000 reagent kit in August 2021. The Magbind viral RNA Xpress kit was developed by Omega Bio-tek Inc. to isolate viral RNA from swab samples in a dependable and quick manner.
by Technology
Sequencing
Microarray
PCR
Nucleic Acid Extraction and Purification
Others
The market is further divided into submarkets for sequencing, microarray, PCR, nucleic acid extraction and purification, and others based on technology. In 2023, the PCR category held the most market share for genomics. Growing genomics research, technological advancements, and the decreasing cost of PCR-amplification of DNA are the main drivers of the genomics market's expansion. The two main reasons propelling the market are the technical investment and the PCR-based expansion of DNA. In 2023, the second category will have the biggest share of. Sequencing technology has several uses, including agriculture and animal breeding, and is connected with benefits including high speed, scalability, and ultra-high throughput.
by Test Type
Diagnostic Test
Genetic Test
Newborn Screening
Pre-implantation Testing
Prenatal Testing
Carrier Testing
by Application
Diagnostic
Drug Discovery
Precision Medicine
Others
The market is divided into submarkets based on application, including diagnostics, drug discovery, precision medicine, and others. Within the genomics market, the largest and fastest-growing application segment is diagnostics. This market is expected to grow as a result of growing research into genetic abnormalities and diseases including cancer, as well as falling sequencing costs. Thanks to lower sequencing costs and greater research on genetic abnormalities and diseases like cancer, the drug discovery segment currently maintains the second position in the industry.
by Method
Molecular Test
Chromosomal Test
Biochemical Test
by End User
Research Centers
Hospitals and Clinics
Pharmaceutical Companies
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Key Players:
1. Thermo Fisher Scientific Inc
2. Illumina Inc.
3. QIAGEN N.V.
4. Agilent Technologies Inc
5. Eurofins Scientific
6. BGI
7. GE Healthcare
8. Bio-Rad Laboratories Inc
9. F. Hoffmann-La Roche Ltd
10.Oxford Nanopore Technologies
11.Beijing Genomics Institute
12.Foundation Medicine, Inc
13.23andMe, Inc
14.Pacific Biosciences of california
15.Myriad Genetics, Inc.
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Table of content for the Genomics Market includes:
Global Genomics Market: Research Methodology
Global Genomics Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Genomics Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
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Key Offerings:
Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by segments 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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