The "Genomics Global Market - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The genomics global market is expected to reach $31,835.9 million by 2027 growing at a mid single-digit CAGR from 2020 to 2027.
The factors driving the genomics market are demand for early disease detection, diagnosis, and treatment, rising government and private funding, reduced cost of genomics test and favorable reimbursement, increasing demand for personalized medicine, increasing application of genomics in drug discovery & development and technological advancements.
Whereas, factors restraining the market growth are high cost of instruments and special research materials, analytical validity of the result, lack of standardization, complexity, lack of skilled professionals, and factors such as stringent and time-consuming regulatory guidelines, data security and regulatory issues, large data management issues are threats to market growth.
The Genomics Service market is segmented into NGS Services, PCR Services, Microarray Services, and other services.
Among these, NGS Services is largest and fastest growing segment in 2020 and are expected to grow at high single digit CAGR from 2020 to 2027 due to increasing adoption of NGS based tests over other tools, reduced cost of NGS based tests, and favorable reimbursement facility for gene testing.
Based on application, the market is segmented into diagnostics, drug discovery & development, plant genomics, and other applications. Among these, the diagnostics is largest & fastest growing segment and is expected to grow at high single digit CAGR from 2020 to 2027. This is attributed to the outbreak of various infectious diseases like influenza, Ebola, COVID-19 in recent years, adoption of early screening, companion diagnostic tests, prenatal screening of genetic diseases, favorable reimbursement facility, and advancements in analytical tools, etc.
The diagnostics market is further sub-segmented into infectious and non-infectious, among which, the infectious segment generated the largest revenue of in 2020 and is expected to grow at mid single digit CAGR from 2020 to 2027. The non-infectious segment is fastest growing segment and is expected to grow at high single digit CAGR from 2020 to 2027. This is attributed to the all-embracing use of PCR and NGS based tests in diagnostics mainly for early screening of oncology diseases, and other CNS and metabolic diseases.
The end-users of genomics market is segmented into Pharma & Biotech, Hospital & Clinical Laboratories, Contract Research Organization (CRO's) and others. Among the end-users, Hospital & Clinical Laboratories segment accounted for the largest revenue in 2020 and is expected to grow at a high single digit CAGR from 2020 to 2027. This is mainly attributed to the increase in early screening, genetic testing, and diagnostics tests and kits developed for the same that are mainly conducted in hospital laboratories, prescribing for companion diagnostics, etc.
The Contract Research Organization (CRO's) is fastest growing segment at high single digit CAGR from 2020 to 2027 due to increased outsourcing for maximum utilization of genomic technologies in drug discovery process, the launch of new genomic services and increasing capabilities to offer end-to-end genomic services.
The North America region dominated the genomics global market accounting for the largest revenue in 2020 and is expected to grow at a mid single digit CAGR from 2020 to 2027. This is attributed to increased incidence of cancer & other metabolic diseases, increased awareness about the early screening & disease detection, prenatal and genetic testing, gene editing, presence of major players and popular research institutes increase funding, favorable reimbursement facilities, research in crop improvement, presence of advanced technologies & skilled labors are expected to drive the genomics market in North American region. Asia-Pacific is fastest growing region in Genomics market and is expected to grow double digit CAGR from 2020 to 2027.
Key Topics Covered:
1 Executive Summary
3 Market Analysis
3.2 Market Segmentation
3.3 Factors Influencing Market
3.3.1 Drivers and Opportunities
184.108.40.206 Demand for Early Disease Detection, Diagnosis, and Treatment
220.127.116.11 Rising Government and Private Funding
18.104.22.168 Reduced Cost of Genomic Test and Favorable Reimbursement
22.214.171.124 Increasing Demand for Personalized Medicine
126.96.36.199 Rising Application of Genomics in Drug Discovery and Development
188.8.131.52 Technological Advancements Favoring Genomics Adoption
3.3.2 Restraints and Threats
184.108.40.206 High Cost of Instruments and Special Research Materials
220.127.116.11 Analytical Validity of Result, Lack of Standardization, Complexity
18.104.22.168 Lack of Skilled Professionals
22.214.171.124 Stringent and Time-Consuming Regulatory Guidelines
126.96.36.199 Data Security and Large Data Management Issues
3.4 Selected Genomics Products, Consumables and Services Price List
3.5 Regulatory Affairs
3.6 Reimbursement Scenario
3.7 Patent Analysis
3.8 Funding Scenario
3.9 Clinical Trials
3.10 Genomics - Deals, Approvals and New Product Launch
3.11 Technological Advancements
3.11.2 Expansion of Single Cell Biology
3.11.3 Advancements in Data Analysis Databases
3.11.4 Advancements in Machine Learning and Artificial Intelligence
3.11.5 Advancement in Genome Editing
3.11.6 Crisper Screening and Diagnostics
3.11.7 Long Reading Sequencing Technology (Third Generation Sequencing)
3.12 Porter's Five Force Analysis
3.13 Market Share Analysis by Major Players
4 Genomics Global Market, by Products
4.2.1 Polymerase Chain Reaction
4.2.3 Nucleic Acid Extraction and Purification
4.2.4 In-Situ Hybridization
4.2.5 Dna Microarray
4.2.6 Isothermal Nucleic Acid Amplification Technology (INAAT)
4.2.7 Other Instruments
4.3.1 Polymerase Chain Reaction (Pcr) Consumables
4.3.2 Sequencing Consumables
4.3.3 Nucleic Acid Extraction & Purification Consumables
4.3.4 Dna Microarray Consumables
4.3.5 In-Situ Hybridization Consumables
4.3.6 Isothermal Nucleic Acid Amplification Technology Consumables
4.3.7 Other Consumables
4.4 Software and Services
4.5 Genomic Services
4.5.1 Ngs Services
4.5.2 Pcr Services
4.5.3 Microarray Services
4.5.4 Other Genomics Services
5 Genomics Global Market, by Application
5.2.1 Infectious Disease
5.2.2 Non-Infectious Disease
5.3 Drug Discovery and Development
5.4 Plant Genomics
6 Genomics Global Market, by End-Users
6.2 Pharma and Biotech
6.3 Hospitals and Clinical Laboratories
6.4 Contract Research Organization
7 Genomics Global Market, by Region
8 Competitive Landscape
8.2 New Product Launch
8.3 Agreements, Partnerships, and Collaborations
9 Major Companies
9.1 Abbott Laboratories
9.1.3 Product Portfolio
9.1.4 Key Developments
9.1.5 Business Strategy
9.1.6 SWOT Analysis
9.2 BGI Genomics
9.3 Bio-Rad Laboratories, Inc
9.4 Danaher Corporation
9.5 Exact Sciences Corporation
9.6 Hologic, Inc.
9.7 Illumina, Inc.
9.8 Merck Kgaa
9.9 Myriad Genetics, Inc.
9.10 Qiagen N.V
9.11 F. Hoffmann-La Roche Ltd
9.12 Thermo Fisher Scientific, Inc.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201127005466/en/
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