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Genomics Global Market Report 2023Including: 1) By Product Type: Instrument (Including Systems, Service Contract And Software); Reagents (
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, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Genomics Global Market Report 2023Including: 1) By Product Type: Instrument (Including Systems, Service Contract And Software); Reagents (" - https://www.reportlinker.com/p06229155/?utm_source=GNW
, Diagnologix LLC, DNA Electronics Ltd, Enumeral, Epic Sciences, Kellbenx Inc., Resolution Bio Science Inc., Wafergen Bio-systems Inc., Yikon Genomics Co. Ltd, Thermo Fisher Scientific Inc., CellBio, Beckman Coulter, Becton Dickinson, Bio-Rad, Carl Zeiss Microscopy, Cell Microsystems, Cellsee Diagnostics, CellSorter, Cytena, CytoTrack, Dolomite Bio, Agilent Technologies Inc., and Fluxion Biosciences.
The global genomics market is expected to grow from $27.58 billion in 2021 to $32.56 billion in 2022 at a compound annual growth rate (CAGR) of 18.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The genomics market is expected to reach $63.50 billion in 2026 at a CAGR of 18.2%.
The genomics market consists of sales of genomics such as structural genomes, functional genomes, mutation genomics and comparative genomics that are used for drug discovery and development.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the 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.
North America was the largest region in the genomics market in 2022.Western Europe was the second largest region in the genomics market.
The regions covered in the genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of genomics are instrument (including systems, service contract and software), reagents (including reagents and consumables).A reagent is a material or compound that is added to a system to produce a chemical reaction or to determine whether or not a reaction occurred.
The different processes include cell isolation, sample preparation, and genomic analysis that are used by academic institutes, biopharmaceutical companies, and clinical research institutes.
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 April 2021, US government announced an investment of $1.7 billion for improving the detection, monitoring, and reduction of SARS-CoV-2 variants and to improve infrastructure for further genomic sequencing. The funds were announced through the American Rescue Plan. The funding would be distributed through three separate initiatives at different times.
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.
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 June 2021, QIAGEN, a Netherlands-based provider of sample and assay technologies for molecular diagnostics, applied testing, academic, and pharmaceutical research, has announced the release of the QIAprep& CRISPR Kit and CRISPR Q-Primer Solutions, which enable researchers to analyse edited genetic material with unprecedented speed and efficiency to determine how their interventions have changed the function of the DNA sequence in question.
In November 2021, Myriad Genetics, an American genetic testing company, acquired Gateway Genomics, for $67.5 million. The acquisition is an effort by Myriad towards their effort to bring relevant genetic information to consumers to make value in their lives. Gateway Genomics is an American personal genomics company and manufacturer of SneakPeek® Early gender DNA Test for detecting baby’s gender.
The countries covered in the genomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The genomics market research report is one of a series of new reports that provides genomics market statistics, including genomics industry global market size, regional shares, competitors with a genomics market share, detailed genomics market segments, market trends and opportunities, and any further data you may need to thrive in the genomics industry. This genomics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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