Genomics Market Global Industry Analysis Projected to Reach US$ 83.81 Billion by 2030, Driven by 15.35% CAGR

Genomics Market North America region holds the highest share in 2023.

Genomics Market Overview:

The future of healthcare is brimming with exciting possibilities, and the genomics market is at the forefront of this revolution. A recent market report predicts the global genomics market to balloon to a staggering $83.81 billion by 2030, reflecting a robust compound annual growth rate (CAGR) of 15.35% from 2024 onwards. This upsurge can be attributed to a confluence of factors that are transforming the landscape of medicine.

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One key driver is the increasing investment from governments around the globe. Funding is being channeled towards genomics research, particularly in areas with immense potential like personalized medicine and novel cancer treatments. This financial backing fuels groundbreaking discoveries and fosters the development of life-saving therapies. Technological advancements are another gamechanger. The field of genomics is constantly evolving, with DNA sequencing techniques becoming faster, more affordable, and more precise. This enhanced accessibility allows for a wider adoption of genomics in various healthcare settings, paving the way for more accurate diagnoses and targeted treatment plans.

The growing demand for personalized medicine is a major force shaping the market. This revolutionary approach to healthcare takes individual genetic makeup into account when designing treatment plans. By understanding a patient's unique genetic profile, doctors can tailor medications and therapies to maximize effectiveness and minimize side effects. This shift towards personalized medicine holds immense promise for improving patient outcomes and overall well-being.

Genomics Market Report Scope and Research Methodology:

The report provides comprehensive business statistics and analytical insights designed to facilitate a thorough understanding of the Genomics market. Key aspects such as market size, market share, growth patterns, prevailing trends, demand drivers, leading players, industry profiles, opportunities, value chain analysis, end-user segments, various types, and applications are clearly presented. The analysis employs a bottom-up approach to accurately estimate both global and regional Genomics market sizes. A robust combination of primary and secondary research methodologies is utilized to construct a detailed overview of the Genomics market. Secondary research involved collecting data from a range of reputable sources to gather information about key players and analyze current and historical industry trends. This information was then cross-verified through primary research, which included conducting interviews with industry experts and key opinion leaders in the Genomics sector.

Furthermore, the report explores growth opportunities in both micro and macro markets, providing stakeholders with valuable insights for potential investments. An in-depth competitive analysis is included, highlighting the product offerings of major competitors. A SWOT analysis is performed to identify the strengths, weaknesses, opportunities, and threats within the Genomics market, providing a strategic perspective on the market dynamics.

Genomics Market Regional Insights:

While North America currently dominates the market due to the presence of established players and robust research infrastructure, the report predicts a significant shift in the coming years. The Asia Pacific region is poised for the fastest growth, driven by burgeoning economies and a surge in government-led initiatives that promote genomics research.

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Genomics Market Segmentation:

By Product & Service:
Consumables
Systems and software
Services

By Technology:
Sequencing
Microarray
PCR
Nucleic Acid Extraction and Purification
Others

By Test Type:
Diagnostic Test
Genetic Test
Newborn Screening
Pre-implantation Testing
Prenatal Testing
Carrier Testing

By Application:
Diagnostic
Drug Discovery
Precision Medicine
Others

By Method:
Molecular Test
Chromosomal Test
Biochemical Test

By End User:
Research Centers
Hospitals and Clinics
Pharmaceutical Companies

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. For the purpose of reliably and quickly isolating viral RNA from swab samples, Omega Bio-Tek Inc. launched the Magbind viral RNA Xpress kit.

Genomics Market 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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The comprehensive market report empowers investors, industry leaders, and other stakeholders with the knowledge they need to navigate this dynamic market. By providing a detailed analysis of the market size, growth forecasts, key players, and emerging trends, the report serves as a valuable tool for making informed decisions and capitalizing on the immense potential of the burgeoning genomics market. This market is poised to revolutionize healthcare, ushering in a new era of personalized medicine, improved diagnostics, and effective treatments for a multitude of conditions.

Table of Content: Genomics Market:

• The Big Picture: Market size, overview, and key points.
• Our Focus: Specific areas, timeframe, and scope we'll explore.
• Market Players: Who are the big businesses and up-and-comers?
• Market Size: How much money is flowing in this market?
• Market Breakdown: Different types of products/services and their segments.
• Competition Check: How easy (or tough) is it to compete in this market?
• Who's Buying?: Understanding the customer base and their needs.
• Global Market: How does this market differ around the world?
• Decision Time: Making informed choices in this market.
• Market Shifts: What's driving changes in the market?
• Future Look: Emerging trends that will shape the market.
• The Sellers: Who are the major companies selling in this market?
• Competition Analysis: Strengths and weaknesses of the key players.

Key questions answered in the Genomics Market are:

• What is Genomics?
• What was the Genomics market size in 2023?
• What is the growth rate of the Genomics Market?
• Which are the factors expected to drive the Genomics market growth?
• What is the CAGR at which the ## market will grow during the forecast period?
• What are the different segments of the Genomics Market?
• Which is the fastest-growing region in the Genomics Market?
• What segments are covered in the Genomics Market?
• Who are the key players in the Genomics Market?
• What growth strategies are the players considering to increase their presence in Genomics?
• What are the upcoming opportunities and trends for the Genomics Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Genomics Market?
• Who are the leading companies and what are their portfolios in Genomics Market?

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 | 2024-2030
• 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
o Competitive landscape - Market Leaders, Market Followers, Regional player
o 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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