The growing funding from the government and growth in the number of genomics projects are driving the market demand.

Market Size – USD 18.60 Billion in 2019, Market Growth - CAGR of 13.1%, Market Trends – Advancement in technology.

The global Genomics market is forecast to reach USD 47.23 Billion by 2027, according to a new report by Reports and Data. The growing demand for genetically modified plants and animals and a reduction in the price of genetic procedures are boosting the growth of the market.

The market is witnessing an increased demand owing to the massive change in technology. The development of innovative machines and increased spending on research is further propelling the demand. The government is taking initiatives to encourage the growth of the market. The growing trend of personalized medicine is also another trend impacting market demand. However, the high cost of the genomic instruments and regulatory guidelines are hampering the growth of the market.

Advancement in genomics will continue to give rise to the economic, environmental, and ethical, legal, and social implications, all of which will garner attention from the public and the policymakers. Several healthcare and research companies are working towards the integration of genomic data, while major clinical centers like Stanford Health Care and many cancer research centers are using genomic data to personalize treatments for treating life-threatening diseases such as cancer.

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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.

The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.

Key companies profiled in the report include:

Thermo Fisher Scientific, Agilent Technologies, Illumina, Inc., Qiagen, Oxford Nanopore Technologies, Eurofins Scientific, F. Hoffmann-La Roche, Danaher Corporation, Bio-Rad Laboratories, and GE Healthcare, among others.

Market Segmentation by Types:

Deliverables Outlook (Revenue, USD Billion; 2017-2027)

Products
Instrument
Reagent
Services
Core Genomics
Biomarker Translation
NGS-Based
Computational
Others
Technology Outlook (Revenue, USD Billion; 2017-2027)

Sequencing
PCR
Microarray
Nucleic Acid Extraction and Purification
Other Technologies
Market Segmentation by Applications:

Application Outlook (Revenue, USD Billion; 2017-2027)

Diagnostics
Precision Medicine
Drug Discovery and Development
Agriculture & Animal Research
Others
End User Outlook (Revenue, USD Billion; 2017-2027)

Hospitals and Clinics
Research centers and government institute
Pharmaceutical and Biotechnology Companies
Others
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Genomics market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
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Further key findings from the report suggest

Pharmaceutical companies are making use of the available genomic information in personalized medicine, which is forecasted to significantly impact the growth of the market. The reduction in the cost of sequencing has enabled the whole genome sequencing at a very affordable price, which has made it more attractive to pharmaceutical and biotechnology companies.
NGS-based services held a major market share due to its adoption of whole-genome sequencing and application of the sequence databases for disease prognosis and screening. The demand is expected to grow owing to the expansion of the customer base from limited to academic and research centers to CROs, biotech, and pharma players.
Polymerase chain reaction (PCR) has several advantages, which is boosting the demand for the market. The reaction is simple, easy to understand, and also produces results quickly. The technique is very sensitive, with the potential to produce billions of copies of a certain product for cloning, sequencing, and analysis. Thus, it finds its use in analyzing alterations of gene expression levels in tumors, microbes, or other disease states.
A major goal of the genome in animal research is to use the information to enhance the response of animals to selection. The dairy industry witnessed an agri-dairy revolution with the implementation of genome-enables genetic predictions. In the U.S., more than 2 million dairy cattle from 5 breeds have incorporated genome information into the national dairy genetic evaluation. The impact on genetic improvement has been profound.
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