Major players in the genomics market are 10X Genomics, Qiagen NV, Fluidigm Corporation, Johnson & Johnson Private Limited, Zephyrus Biosciences Inc. , Illumina, Inc. , Affymetrix, Angle PLC, Denovo Sciences Inc.
New York, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Genomics Global Market Report 2021: COVID-19 Growth And Change To 2030Including: 1) By Product Type: Instrument (Including Systems, Service Contract And Software); Reagents (" - https://www.reportlinker.com/p06151523/?utm_source=GNW
and Diagnologix LLC.
The global genomics market is expected to grow from $0.94 billion in 2020 to $1.07 billion in 2021 at a compound annual growth rate (CAGR) of 13.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.78 billion in 2025 at a CAGR of 14%.
The genomics market consists of sales of single-cell genomics and related goods.The study of genomes is called genomics.
Single-cell genomics is an innovative method of classifying individual cells from a tissue sample, capable of defining unique traits and identifying rare cell types. Genomics is used in different fields of study such as intragenomic phenomenon including pleiotropy, epistasis, heterosis, and other interactions between loci and alleles within the genome.
The genomics market covered in this report is segmented by product type into instrument (including systems, service contract and software), reagents (including reagents and consumables). It is also segmented by process into cell isolation, sample preparation, genomic analysis and by end user into academic institutes, biopharmaceutical companies, clinical research institutes.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The technology limitation in single-cell genomics hinders the growth of the single-cell genomics market.Due to cost and technical constraints, the use of genetic sequencing to better target and treat rare and chronic diseases was largely out of reach for most health care organizations.
Therefore limiting the market growth.
In November 2019, Exact Sciences Corp., a USA-based molecular diagnostics company specialized in colon cancer screening, screening test research, and development, non-invasive cancer screening for early detection and prevention of colorectal cancer, acquired Genomic Health Inc. for $2.8 billion in cash. The acquisition is expected to help Exact Sciences Corp. to broaden its offering of cancer tests and expand its footprint in more than 90 countries. Genomic Health Inc. is a USA-based life science company that specializes in the development of genomic-based clinical diagnostic tests for cancer.
Rising government funds for research on genomics drives the growth of the single-cell genomics market.The government funding focuses on efforts to resolve the complexity of the human genome, define the genomic basis of human health and disease, and ensure that genomics is used safely to enhance patient care and benefit society through government, public and private institutions.
For instance, in 2018, in the U.S, The All of Us Research Program, a part of the National Institutes of Health, gave funds of $28.6 million for establishing three genome centers in the USA. These centers will start generating genomic data from the biosamples contributed by the participants of the program.
Companies are investing in new product launches to increase their revenue and expand their consumer base and also for gaining a competitive edge over their rivals. For instance, in 2018, NanoString Technologies, Inc., a USA-based biotech company, specialized in developing cancer diagnostics tools launched a CAR-T characterization panel, a new gene expression panel for the molecular characterization of CAR-T cells in research, development, and manufacturing. The panel was developed in partnership with eight leading CAR-T therapy centers and helps in ease of workflow and aims to advance the field of CAR-T therapy.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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